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THE CENTRAL BANK AND THE NATIONAL SETTLEMENT DEPOSITORY AGAINST EUROCLEAR BANKRUPTCY

The Central Bank and the National Settlement Depository (NSD) did not support the bankruptcy of the European depository Euroclear in court. According to Interfax, the Bank of Russia believes that Euroclear has no signs of insolvency according to the criterion of insufficient funds. According to the representative of the Central Bank, the transfer of funds held in special accounts to the bankruptcy estate would violate ...

THE CENTRAL BANK FILED A BANKRUPTCY LAWSUIT AGAINST THE MOSCOW BANK GARANT-INVEST

... Garant-Invest's license was revoked on December 26. According to the regulator, the bank has repeatedly violated the law and regulatory acts of the Central Bank of the Russian Federation. This undermined his financial stability. During the year, the Bank of Russia took measures of influence, including restrictions on attracting depositors, but these efforts did not lead to stabilization. The critical point was the identification of a major shortage in the bank's store of valuables. Following an unscheduled ...

THE CENTRAL BANK PROPOSED TO CHANGE THE STRUCTURE OF THE MICROFINANCE MARKET

The central bank has proposed to change the structure of the microfinance market. The reform is proposed to be carried out in the next three years. According to the press service of the Bank of Russia, today one of the main problems of the sphere is low confidence in microfinance. This is also faced by companies that finance, for example, entrepreneurs or provide installments. And they not only do not create risks, but also stimulate ...

THE CENTRAL BANK REVOKED THE LICENSE FROM AVTOGRADBANK

... the regulator to conduct banking operations. The reason for the actions of the Central Bank of the Russian Federation in relation to a credit institution from Tatarstan was the discovered violations of banking legislation and by-laws adopted by the Bank of Russia. According to the press service of the Central Bank of the Russian Federation, Avtogradbank was engaged in conducting suspicious financial transactions indicating the possibility of withdrawing assets to the shadow sector of the economy....

THE CENTRAL BANK: COMPANIES HAVE INCREASED DEMAND FOR LOANS

Last month, the demand for loans from legal entities increased, the banking sector portfolio grew by 1.8% in March, the Bank of Russia said. The central bank also clarified that loans were taken mainly by oil and gas, transport and construction organizations. One of the reasons for the increase in demand is the need to pay large taxes, such as income tax and additional ...

THE CENTRAL BANK CHECKS THE AUDITOR OF "KIWI BANK" - THE COMPANY KEPT

The Bank of Russia drew attention to the company Kept, which was engaged in the audit of Kiwi Bank. The Central Bank wants to find out how much the organization was aware of the risky operations of the credit institution and how it reacted to them. This ...

THE NUMBER OF RUSSIANS WITH LOANS HAS REACHED 50 MILLION

The number of citizens with loans has reached 50 million, the Bank of Russia cited statistics as of January 1, 2024. This is more than 40% of Russian citizens over the age of 16. The total amount of debts of Russians in 2023 increased by 6.4 trillion rubles. As the Central Bank notes, the number of citizens using ...

THE CENTRAL BANK ALLOWED SOVCOMBANK TO BUY HOME BANK

The Bank of Russia has given Sovcombank permission to acquire Home Bank. Earlier, the deal was also approved by the Federal Antimonopoly Service (FAS). "Home Bank will be consolidated in the international financial reporting standards of Sovcombank ...

THE INSURANCE LIABILITY OF THE DIA TO THE DEPOSITORS OF HEPHAESTUS IS ESTIMATED AT 181 MILLION

On February 28, the Bank of Russia announced the revocation of the license from Gefest Bank and the appointment of a temporary administration to manage the credit institution. The Agency's insurance liability is tentatively estimated at 181.2 million rubles. Denis Nikolaevich ...

THE CENTRAL BANK IS PREPARING CHANGES ON THE INCREASE IN FINES FOR BANKS FOR FRAUD

The Bank of Russia plans to increase fines to banks for defrauding customers to 0.1% of capital. This is reported by Izvestia, citing sources close to the Central Bank. According to the publication, the fines being developed by the Central Bank for unscrupulous ...

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