Payments to depositors of the Bank «Arsenal» will begin no later than October 5

© RIA Novosti / Natalia to Seliverstova in photomontagist for Deposit insurance. Archival photoPayments to depositors of the Bank «Arsenal» will begin no later than October 5© RIA Novosti / Natalia to Seliverstova the image Bank

Payments to depositors who lost the license of the Moscow Bank «Arsenal» will begin no later than October 5, reported the Agency on insurance of contributions (ASV).

«Payments will begin no later than October 5, 2017… For operational reception of statements of citizens and the fastest payments of compensation on deposits DIA intends to use the agent banks. In accordance with the decision of the Board of DIA, such agent banks will be selected on a competitive basis no later than 27 September 2017», — stated in the message.

The Bank of Russia from September 21, withdrew the license of the Bank in connection with default of requirements of the legislation and normative acts of the Central Bank, regulating banking activities, including in the field of combating the legalization (laundering) of incomes obtained in a criminal way and financing of terrorism in terms of identifying transactions subject to mandatory control, and directions to the competent authority authentic information about them. The regulator also took into account the presence of real threat to interests of creditors and depositors.

According to the Bank, the Bank’s activities in 2016 are largely focused on dubious transactions. The regulator also noted the use of risky business models and poor quality of a significant part of the assets.

By total assets, according to Central Bank data, the Bank on September 1, 495 took place in the banking system of the Russian Federation.

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