On revocation of banking licence

Due to the non-compliance by the Moscow-based credit institution Joint-stock commercial bank TUSAR (joint-stock company) or JSC TUSARBANK with federal banking laws and Bank of Russia regulations, all capital adequacy ratios below 2%, non-ability to meet monetary obligations to its creditors, taking into consideration the repeated application within one year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’ and guided by Article 19, Clause 6 of Part 1 and Clauses 1 and 4 of Part 2 of Article 20 of the Federal Law ‘On Banks and Banking Activities’ and Part 11 of Article 74 of the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, the Bank of Russia took a decision (Order No. OD-2480, dated 18 September 2015) to revoke the banking licence from the credit institution Joint-stock commercial bank TUSAR (joint-stock company) (Bank of Russia Registration No. 2712, date of registration — 24 February 1994) from 18 September 2015.

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