The Central Bank revoked the license of the Bank «Northern credit»

© RIA Novosti / Natalia to Seliverstova in photobacteria the Central Bank of Russia on Neglinnaya street in Moscow. Archival photoThe Central Bank revoked the license of the Bank «Northern credit»© RIA Novosti / Natalia to Seliverstova the image Bank

The Bank of Russia from December 29, withdrew the license from Vologda Bank «Northern credit».

The decision to revoke the license is accepted in connection with default by Bank of requirements of the legislation of the Russian Federation 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 submission to the authorized body information on operations subject to mandatory control, said the Central Bank.

Thus, the unfair actions of the management of the Bank «Northern credit» implemented for the purposes of large-scale withdrawal of assets, led to the collapse of financial institutions, said the regulator. In addition, in response to emerging liquidity shortages in the last decade of December 2017, the Bank was unable to timely fulfill liabilities to creditors and depositors.

The Bank of Russia repeatedly applied in relation to a credit institution Supervisory response measures. including twice imposed restrictions on attraction of deposits. The Bank appointed a temporary administration.

The Bank is the participant of system of insurance of contributions. By total assets, according to Central Bank data, he is on 1 December took the 244-th place in the Russian banking system.