The Central Bank of Russia has revoked as of April 13, 2016 a banking license held by Moscow-based Puls Stolitsy (Registration No. 3002), the regulator's press service reported.
The Bank of Russia explained its license-revoking decision by the lending institution's failure to comply with federal banking laws and also its statutory acts, because capital adequacy ratios fell below 2%, and equity (capital) declined below the minimum amount of the charter capital as established on the date of a lending institution's state registration, and taking into account the multiple application during the year of the measures provided for in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)".
"While holding weak quality assets, Puls Stolitsy assessed related risks inadequately. The proper assessment of the credit risk at the request of a supervisory body showed that the bank's equity (capital) was lost in full," the Bank of Russia pointed out.
Puls Stolitsy is a member of the national deposit insurance system.
To remind, since Monday, April 11, the financial institution has been cut off the Banking Electronic Speedy Payment (BESP) system. And since early April Puls Stolitsy has been ordered to limit deposit contributions, Banki.ru was said at one of the financial institution's offices.
