On Wednesday, the Bank of Russia revoked the license of capital Bank “Financial standard” and non-Bank credit organization (NCO) “Kredital” from Vologda. The reason for the decision for both organizations – participation in suspicious transactions and placement of funds in high-risk assets.
“Financial standard” in the statement of the regulator, placed funds in low-quality assets and have not established reserves in relation to risks.
In addition, due to the unsatisfactory quality of assets which did not contribute sufficient profit, the Bank did not provide timely fulfillment of obligations to creditors.
The Central Bank also found a complete loss of capital and the involvement of “Financial standard” to dubious transactions.
Bank “Financial standard” is of participants of system of insurance of contributions. By assets, he occupied the 218th place in the Russian banking system.
According to the Agency for Deposit insurance (ASV) for the payment of insurance compensation to depositors of “Financial standard” will begin no later than June 22.
License NKO Kredital” occupying 680 th place in the banking system of the Russian Federation, are withdrawn in connection with default by the credit organisation of the Federal laws regulating Bank activity, statutory acts of Bank of Russia, repeated violation within one year of requirements of the normative acts of the Central Bank and reduction of size of own funds (capital) below the minimum capital specified on the date of state registration of credit organizations.
With a poor quality assets “Kredital” inadequately assessed in connection with these risks. Proper risk assessment at the request of the Supervisory authority revealed the complete loss of own means (capital) of credit organizations.
In addition, the credit institution does not comply with the requirements of Bank of Russia regulations on countering the legalization (laundering) of incomes, received by criminal way and financing of terrorism in part of the quality submission of information to the authorized body.
It is also noted that NGOs “Kredital” was involved in dubious operations with cash and non-cash.