The Central Bank revoked the license of the Moscow Bank “Russian investment Alliance”

TASS, August 17. The Bank of Russia has withdrawn from 17 August 2017 the license for banking transactions from Moscow commercial Bank “Russian investment Alliance” (Riabank). According to the financial statements, the Bank is the participant of system of insurance of deposits held by assets on August 1, 2017 334 th place in the banking system of the Russian Federation, is spoken in the message of the CBR.

According to the regulator, Riabank had ineffective risk management and internal control that resulted in a significant amount of assets of poor quality. Proper assessment of credit risk and objective reflection of the value of assets in the financial statements of the Bank revealed the complete loss of own means (capital).

Thus, notes of the Central Bank, the business model Rebenka was not focused on providing traditional banking services, the credit institution was involved in the implementation of suspicious transactions related to cash and cash withdrawal abroad.

According to the report, the Bank of Russia repeatedly applied in relation to Rubanka measures of Supervisory response, including three times imposed restrictions on attraction of deposits. Meanwhile, managers and owners of the credit institution did not take effective measures to normalize its activities.

In accordance with the order in Riabank of the Central Bank appointed a temporary administration of the validity period until the appointment of a bankruptcy Trustee or liquidator. The powers of the Executive bodies of the credit institution are suspended.

Payments to depositors will begin before the end of August

In Agency on insurance of contributions (ASV) have informed that payment of insurance compensation to depositors of Rubanka will begin no later than August 31.

For operational reception of statements of citizens and the fastest payments of compensation on deposits DIA intends to use the agent banks that will be selected on a competitive basis no later than August 23.

The insurance indemnity is paid in the amount of 100% of the sum of all his accounts (deposits) in the Bank, including open for business, but not more than 1,4 million rubles in total.

Bank Deposit (account) in foreign currency, the insurance indemnity is calculated in rubles at the exchange rate of the Bank of Russia on August 17, 2017, reminiscent of DIA.