Russia continues private banking sector purgeRussia’s Central Bank on Friday declared it has revoked the licenses of My Bank, owned by former Federation Council Member Gleb Fetisov until December 2013, and Priroda Commercial Bank, in a ongoing purge of private banking sector hat started in 2013 with the sacking of Master-bank.12:01 31.01.2014
Russian Central Bank stands for criminalizing false financial informationThe Russian Central Bank proposed the introduction of criminal liability for those playing an active role in spreading allegations that compromise financial institutions.15:17 20.12.2013
Russian regulator shuts three more banks in clean-up driveRussia’s financial regulator revoked the banking licenses of three mid-sized Russian banks Friday, as the authorities ratchet up regulation of the country’s banking sector.10:58 13.12.2013
Russia’s Central Bank not to warn banks of license revocationRussia’s Central Bank said Sunday it cannot warn banks of a possible license revocation beforehand because there is a risk that some banks would try to move out their assets.09:51 09.12.2013
There are no blacklists of banks for license recall - officialThere are no black lists of banks the licenses of which the Central Bank may revoke, Central Bank Governor Elvira Nabiullina said Wednesday at a meeting with the heads of the largest Russian banks.11:37 28.11.2013
Russian police search major bank's offices after license recallThe police are now searching the Moscow offices of Master Bank, which license was revoked earlier on Wednesday, in connection with the investigation of an illegal cash out scheme worth 2 billion rubles ($61 million), The Interior Ministry reported on its website.13:57 20.11.2013
Mail.Ru Group contests undisclosure fine in courtThe Moscow Commercial Court has registered a lawsuit filed by Mail.ru against the fine imposed for refusing to disclose user data to the financial markets regulator.17:21 31.10.2013
Consumer watchdog calls for lifting ban on 5,000 ruble billsThe Consumer Protection Society petitioned the Bank Of Russia to lift the ban on 5,000 ruble bills in ATMs. Last week, major Russian banks temporarily blocked their ATMs from accepting 5,000 ($155) bills – the biggest denomination available in Russia – after Moscow was flooded with counterfeit bills designed specifically to evade ATM protection measures.12:33 17.10.2013
Russia's Central Bank cracking down on costly consumer loansRussia’s Central Bank said Thursday that it was cracking down on costly consumer loans, including with a measure obligating banks that lend out money at 60 percent interest to back such loans by 600 percent with their own money.10:10 06.09.2013
Duma passes financial mega-regulator billThe lower house of the Russian parliament on Friday finally passed legislation creating a so-called financial mega-regulator. The law puts all non-bank financial organizations under control of the traditional banking regulator, the Bank of Russia.16:58 05.07.2013
Shell companies withdrew $24 billion from Russia in three years - Central BankA network of shell companies withdrew 760 billion rubles ($24 billion) from the Russian economy in 2010-2012, the chairman of the Central Bank Sergei Ignatyev, said at a session of the State Duma on Wednesday.16:38 19.06.2013
Bank of Russia appeals ruling to collect $37 million for AMT BankThe Bank of Russia has appealed the Moscow Commercial Court's decision to collect 1.178 billion rubles ($37 million) from the Bank of Russia in favor of AMT Bank.14:14 10.06.2013
Regulator seeks to cancel AMT Banks $35.8 million deal with Central BankThe Moscow Commercial Court has accepted the Deposit Insurance Agency's lawsuit seeking to invalidate the AMT Bank's repayment of a 1.114 billion ruble ($35.8 million) loan from the Bank of Russia before its license was revoked.16:09 18.03.2013
Russia lost $49 bln in money transfer scams in 2012Illegal money transfers from Russia reached $49 billion in 2012 or 2.5 percent of the country’s GDP, with almost half of that sum sent out by a single group of "well-organized" people.13:07 20.02.2013
Russian rubles counterfeit protection case to be heard behind closed doorsThe Moscow Commercial Court has ruled that a lawsuit filed by Giesecke & Devrient GmbH (G&D) to recover 429,000 euros from the Bank of Russia and Federal State Unitary Enterprise Goznak should be heard behind closed doors.10:54 26.10.2012
National Reserve Bank challenges Central Bank audit processThe Moscow Commercial Court has postponed until September 18 its hearing of the National Reserve Banks (NRB) complaint challenging the Central Banks audit report on the NRB.15:20 03.08.2012
Appeal in shipbuilder's shares transfer case to be heard on April 12The Ninth Commercial Court of Appeals will hear on April 12 an appeal against the court's decision to levy execution on a major shipyard's shares in a Central Bank lawsuit.14:03 19.03.2012
Central Bank proposes limitations on bonuses in ailing banksThe Central Bank and the Deposit Insurance Agency (DIA) proposed to cut bonuses for top managers in insolvent and bailed out banks.10:38 13.03.2012
Central Bank reports about 157 illegall exchange offices in MoscowAlthough over 6,000 bank offices have been entitled to provide currency exchange operations in Moscow and the Moscow Region as of January 27.16:53 11.03.2012
Shipyard's shares transfer to Central Bank confirmedA commercial court validated the transfer of an 88.32-percent stake in Baltiysky Zavod to the Central Bank's trust management.16:15 20.02.2012