What can the bank be deprived of the license?

Recently, often in the media you can learn about the revocation of the license by the Central Bank in a commercial organization. In most cases, the reason for the license revocation is non-compliance with the commercial organization of the legislation of the Russian Federation, for example, the Bank provides unreliable reporting information or when the credit institution is not able to satisfy the requests of its clients.

In accordance with Federal Law of 02.12.1990, «On Banks and Banking Activities», the Central Bank must lend a credit institution without a license based on the following grounds:

The central bank in violation, no later than the day of the adoption of the registration of the license, sends a temporary administration to the credit institution. According to the law, this credit organization is obliged to be eliminated. With a sufficient number of funds, the administration produces voluntary liquidation. In case the funds are not enough for bankruptcy procedure and payment of insurance to depositors.

No one warns the license to revoke a license, so it is better to warn itself in advance and take into account possible problems of the bank. It is possible if you follow two simple rules:

What is this information for? — In order for you to protect your funds, because if the bank has revoked license — you will lose all your funds that were in this banking institution.

Choose only a reliable bank with a time-tested reputation.