Western CB (Voronezh)

Such decision is made by the Central Bank of the Russian Federation in connection with non-execution by Zapadny bank of the federal laws regulating banking activity and regulations of the Bank of Russia, establishment of the facts of essential unauthenticity of reporting data, the report says.

The Bank of Russia within supervision of activity of bank sets essential unauthenticity of its reporting. The credit institution pursued the high risk credit policy connected with placement of money in low-quality assets. Adequate assessment of the accepted risks and reliable reflection of asset cost of bank leads to complete loss of its own means (capital). At the same time the Zapadny bank did not perform the requirement of supervisory authority about creation of necessary reserves of possible losses. The management and owners of bank do not take measures for its financial improvement, is emphasized in the message.