The Bank of Russia revoked the license of Millennium Bank in connection with the loss of capital – RBC

Bank of Russia building Photo: Yekaterina Kuzmina / RBC

The Bank of Russia has withdrawn from 5 February to a license to conduct banking operations in Moscow Millennium Bank. According to the Central Bank, the bank with the poor quality of assets adequately assessed for credit risk

The Bank of Russia revoked the license of Millennium Bank, on this Friday, February 5, according to the regulator of the site.

The decision to revoke the license for banking operations was taken in view of the fact that the bank did not fulfill the federal laws regulating banking activities, as well as the regulations of the Central Bank, said in a statement.

When a poor quality asset Millennium Bank adequately assessed for credit risk, the regulator noted. “Proper assessment of credit risk at the request of the supervisory authority identified the loss of own funds (capital). In addition, in connection with the loss of liquidity of a credit institution in a timely manner does not fulfill their obligations to creditors, “- said the Central Bank reported.