THE LICENSE OF THE MORGAN STANLEY BANK WAS REVOKED BY THE CENTRAL BANK OF RUSSIA

It became known that the Central Bank revoked the license of the Morgan Stanley Bank LLC on May 27. The reason for such an action was the statement of the sole participant of the company, who made a decision on the voluntary liquidation.

The bank held 279th place in Russia, according to the amount of assets and was related to the American bank Morgan Stanley. The representatives of the latter, in turn, repeatedly stated their desire to leave the Russian banking services market.

Among the reasons, there are aggravation of the relations between Russia and America and the introduction of sanctions and counter-sanctions in this regard.

In addition, according to the representatives of the bank, the economic, legislative, social, judicial and political risks still remain in Russia. There are claims to the legislation as well - it is changing quickly and might be interpreted ambiguously.

At the same time, the process of voluntary liquidation of Morgan Stanley Bank LLC should go without any particular problems; according to the Bank of Russia, the credit institution has enough assets to settle accounts with its creditors. An appropriate commission will be appointed to conduct the liquidation procedure.

Stil, Morgan Stanley Bank will not completely leave the Russian market; now a number of investment services will be provided by the Morgan Stanley LLC.