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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 ...

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

The Central Bank has filed an application for the insolvency of Garant-Invest Bank with the Moscow City Arbitration Court. This decision was made three weeks after the credit institution lost its license. The claim was registered on January 14 (case no.A40-3833/2025)....

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 ...

THE CENTRAL BANK REVOKED THE LICENSE FROM AVTOGRADBANK

Avtogradbank Joint Stock Company lost the permission of 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 ...

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 income tax for 2023, VAT ...

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 audit became the first serious precedent when the Central Bank evaluates how the auditor took into account ...

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 for the 1st quarter of 2024, which the Bank plans to publish in May 2024. At the same time, technically, the transaction will be closed after registration of an additional issue to pay for the purchase of a Home Bank," the press service of Sovcombank...

THE CENTRAL BANK INTENDS TO TIGHTEN ITS APPROACH TO CREDIT RISKS

The Bank of Russia is going to join the fight against unfair credit risk management, when financial institutions transfer debt from problem borrowers to third parties to conceal real risks. The Central Bank has published on its website a draft amendment to Regulation No. 590-P, which defines the procedure for the formation of reserves for theoretical loan losses. The draft amendments suggest that loan servicing cannot be considered appropriate ...

Central Bank of Russia demands to liquidate Proinvestbank

The Arbitration Court of the Perm Territory received a lawsuit from the Central Bank of Russia demanding the forcible liquidation of Proinvestbank. The bank lost its license in April 2021. The application was submitted to the court on April 18, and on April 19 it was registered in the filing cabinet of arbitration cases,...

"Univer Capital" broker appealed to the Central Bank with a request for reorganization

Central Bank of Russia received an appeal from the “Univer Capital”. A well-known broker, part of the investment group of the same name, faced the threat of bankruptcy. However, the Central Bank stated that Russian legislation does not provide for a ...

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