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The Central Bank had originally planned to save the “Ugra”

The document suggests that initially, the Agency on insurance of contributions agreed with the Bank of Russia a plan of rehabilitation of the credit institution.

The document, approved by the decision of Committee of Bank supervision of Bank of Russia of July 7, 2017 (Protocol № 37), signed the first Deputy Chairman of the Central Bank Dmitry Tulin.

The recovery plan of “Ugra”, according to this document, consists of two paragraphs. The first involves the laying on 10 July at the DIA “functions of temporary administration on management of Bank”, and the second on carrying out “comprehensive checks” in the period up to September 20.

The plan also identifies the importance of “Ugra” for the banking sector. It is noted that this largest by assets Bank with a presence throughout the country, serving important clients. In particular, among clients of “Ugra” was attended by such strategically important enterprises, as “Uralvagonzavod”, the Lytkarino optical glass factory, “Rostelecom” and many others. In addition, the company was ranked 15th in the sector by size of deposits.

At the same time, the document notes that the activities of the Bank “Ugra” in a critical situation. Caused it largely was believed to be officials of the Central Bank, “the establishment of reserves for possible losses amounting to 30-40 billion rubles.” generated “in connection with the requirements of the Bank of Russia”. However, about this is also stated in the document, the shareholders of Boston “in a short time carried out a capital increase in the amount of 25 billion rubles.”. That is, the Bank has remained stable and has demonstrated the ability to meet any requirements of the regulator.

Thus, this document indicates that as of July 7, the regulator did not plan to revoke the license of a credit institution and planning to take complex measures to prevent its bankruptcy.

We will remind that the decision on the revocation of the license of the “Ugra” the Bank of Russia adopted on July 28.

The shareholders and the management of the Bank in court contesting all the actions of the regulator – as the introduction of temporary administration and the moratorium on satisfaction of creditors ‘ claims, and the revocation of licenses of credit organizations.

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