Order of the Bank of Russia of 01.07.2009 № ML-505 revoked the license for banking operations at the credit of the Limited Liability Company Bank Euro Trade Ltd. Euro Trade Bank (Moscow).
The license to conduct banking business has been withdrawn due to failure Ltd. Bank Euro Trade of federal laws regulating banking activities, and regulations, the Bank of Russia, non-compliance to the size of its own funds (capital), established by Article 11.2 of the Federal Law On Banks and Banking Activities , as well as the repeated use of supervisory measures.
The credit institution is not created adequate reserves for possible losses on loans not in compliance with the rules of accounting, as well as to prevent the violation of the norm of mandatory reserves deposited with the Bank of Russia, performed late commitments to individual creditors.
Ltd. Bank Euro Trade at the 4 reporting dates in 2009 allowed a reduction in the amount of own funds (capital) is lower than the amount of own funds (capital) made by him on January 1, 2007. In doing so, the bank has not taken prescribed by federal law to increase the amount of own funds (capital) to the level existing as of January 1, 2007, has not filed a motion in the Bank of Russia to change its status to the status of non-banking credit organization.
According to the order of the Bank of Russia of 01.07.2009 № ML-506 in LLC Euro Trade Bank appointed a temporary administration for a period up to the appointment of the insolvency or the liquidator. The powers of the executive bodies of the Bank in accordance with federal laws suspended.
Ltd. Bank Euro Trade is not a member of the insurance of bank deposits.
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