NATO rejects media claims alliance unable of quick deploymentWorld October 21, 13:01
Russian senior diplomat: Moscow has 'no doubts' that Iran fulfilling JCPOA dealRussian Politics & Diplomacy October 21, 11:04
Monuments to Soviet troops in PolandWorld October 21, 10:57
Putin and Erdogan give positive assessment to joint efforts in Astana processWorld October 21, 3:03
Privileges to certain languages in Ukraine’s education law to worsen situation — diplomatRussian Politics & Diplomacy October 20, 21:46
International balance of forces in Syria after Raqqa’s liberation unclear yet — expertMilitary & Defense October 20, 21:05
Russia to resume import of aubergines, pomegranates from Turkey since October 30Business & Economy October 20, 20:18
International station to orbit Moon at 70,000 km distance from EarthScience & Space October 20, 20:09
US indulging in lies to have UN-OPCW mission’s mandate extended — Foreign MinistryRussian Politics & Diplomacy October 20, 19:31
MOSCOW, August 29. /TASS/. The Bank of Russia announced measures to improve financial stability of Otkritie Bank on Tuesday. The Central Bank was aware of problems in the bank long beforehand, First Deputy Chairperson Dmitry Tulin said on Tuesday.
"Owners and management of the bank approached the regulator with a request to perform financial recovery of the bank through the banking sector consolidation fund," Tulin said. Clients of the bank will not experience adverse changes, he said.
The Bank of Russia views financial recovery of Otkritie Bank as a positive event for the market, the official said. "We consider this event [improvement of financial stability of Bank Otkritie - TASS] as a highly positive in general terms. This is the first case of applying a new mechanism of financial recovery of credit institutions that came into force in June. The event is positive not merely for depositors, lenders and the bank proper but also for the banking sector and the financial market," Tulin said.
Financial recovery of Otkritie Bank with use of resources of the banking sector consolidation fund will last from 6 to 8 months, the Central Bank said.
"The financial recovery process with use of money of the banking sector consolidation fund may be broken down into two stages, with implementation of the same to take from 6 to 8 months. The bank will work later on with adherence to all mandatory standards," the Bank of Russia said.
The regulator will participate in the bank’s capital as a majority investor and will provide financial support to it at the expense of the banking sector consolidation fund created this summer. Temporary administration will start working in Otkritie from August 30.
Otkritie is a systematically import bank and is ranked 8th in the national banking system in terms of assets.