Moscow. July 19. INTERFAX.RU – Russian Prosecutor General’s office appealed two orders of the Bank of Russia concerning the activities of joint stock company Bank “Ugra”, reported “Interfax” the official representative of the Supervisory Department Alexander Kurennoy.
We are talking about the orders, which the Central Bank introduced a temporary administration in the Bank “Ugra” and a three-month moratorium on satisfaction of creditors ‘ claims.
“These orders are issued arbitrarily, as it was not considered that the Bank of Russia, as the implementation of oversight functions and in the course of audit did not reveal violations by the Bank “Ugra” mandatory standards,” said Kurennoy. Thus, “grounds for appointing a provisional administration to manage the OJSC Bank “Ugra” no”.
According to the prosecution, “the interim administration will result in damage to the Federal budget in connection with insurance payments for the sum more than 170 billion rubles, will reduce the availability of credit to small and medium businesses, speed up inflationary pressures and worsen the investment climate in the country.”
This is the first case where the Prosecutor General’s office appealed the Supervisory measures of the Central Bank towards the Bank.
CBR has confirmed receipt of the protest of the Prosecutor General. “We acknowledge receipt of protests. In accordance with the established procedure, the Bank of Russia will consider these protests and prepare a position on the timelines of the protests,” – said the press service of the Central Bank.
The introduction of the moratorium on satisfaction of requirements of creditors is insured. While payments to depositors of “Ugra” (about 170 billion roubles) will be the largest in the history of the Deposit insurance system. ACB reported that the Bank’s customers will be able to receive insurance compensation in banks-agents, since July 20.
The Central Bank, commenting on the Supervisory response measures. against the “Ugra”, said that the Bank had evidence of the unreliability of reporting, as well as signs of withdrawal of assets and manipulation of the deposits.
In particular, the Bank could circumvent the restriction by the Central Bank on attraction of contributions (was introduced in April last year), using the scheme Mosoblbank, when a Deposit is opened under the condition of giving the customer a share. According to estimates by the regulator, the amount of manipulation of the usage of this scheme amounted to 1.88 billion rubles.
The Central Bank also pointed to “technical” implementation of the requirements of the Bank of Russia. Over the last 12 months the regulator put the “Yugra” 10 prescriptions additional formation of reserves by tens of billions of rubles. However, creating reserves for one loan, the Bank has disbanded the reserves on the other, allowing him to avoid the fall of the capital. In addition, the regulator has found transactions in derivative financial instruments that allowed “Yugra” to reflect the technical profit.
The Bank “Ugra”, the main owner of which is businessman Alexei Khotin, on the end of the first quarter took 33 place in terms of assets and 12th place by the volume of funds of natural persons in the ranking “Interfax-100”. On June 1, individuals kept in the Bank deposits in the amount of 181,5 billion rubles, of which the potential payments to depositors are estimated at 169,2 billion.