On revocation of banking licence and appointment of provisional administration
By Order No. OD-1890, dated 25 July 2014, the Bank of Russia revoked the banking licence of the Moscow-based credit institution COMMERCIAL BANK AUERBANK, limited liability company, or CB AUERBANK LLC (Reg. No. 3105) from 25 July 2014.
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, repeated violations within a year of requirements of Article 7 (except for Clause 3 of Article 7) of the Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’ and taking into account the repeated application over the past year of supervisory measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.
CB AUERBANK LLC did not comply with the requirements of the legislation on anti-money laundering and the financing of terrorism in terms of appropriate identification of its customers. Besides, CB AUERBANK LLC was involved in large-scale dubious operations, including those with non-residents, with the total amount exceeding 20 billion rubles in 2013.
By its Order No. OD-1891, dated 25 July 2014, the Bank of Russia has appointed a provisional administration to CB AUERBANK LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator under Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.
CB AUERBANK LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No.
As of 1 July 2014, CB AUERBANK LLC ranked 760th by assets in the Russian banking system.
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25.07.2014 00.00.00