The Bank of Russia has revoked effective September 2, 2016 a banking license held by Tetrapolis (Registration No. 1586), the regulator's press service reported.
The Bank of Russia noted that the decision to apply the last-resort measure was adopted because the lending institution failed to comply with federal banking laws and CBR's statutory acts, violated many times during the year requirements of the Federal Law "On Counteracting Legalization (Laundering) of Criminal Income and the Financing of Terrorist Acts" and due to the application of the measures provided for in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" taking into account a real threat to the interest of the bank's creditors and deposit holders.
Tetrapolis did not observe requirements of the laws on counteracting legalization (laundering) of criminal income and the financing of terrorist acts as to timely provide the authorized body with information on operations that are subject to mandatory control. Furthermore, the lending institution began to take actions to withdraw high-liquidity assets. Under the current circumstances in order to protect the interest of the bank's creditors and deposit holders the Central Bank of Russia decided to remove Tetrapolisy from the banking services market," the Bank of Russia pointed out.
Tetrapolis is a member of the national deposit insurance system.
Yesterday the media wired that Tetrapolis was cut off the Banking Electronic Speedy Payment (BESP) system. The financial institution lost a quarter of retail deposits in July. As of August 1, 2016 the bank's retail deposits stood at Rub 620 mln.
