Bank of Russia revokes banking licence of Morgan Stanley Bank

Friday 1 May 2020 11:38 CET | News

The Bank of Russia has revoked the banking licence of Morgan Stanley Bank, a credit institution based in Moscow.

Morgan Stanley Bank’s licence has been revoked following its decision to participate in voluntary liquidation. The licence was cancelled in accordance with Article 23 of the Federal Law ‘On Banks and Banking Activities’.

According to Verdict, The Bank of Russia will appoint a liquidation commission to Morgan Stanley Bank because of this move. The credit institution has enough assets to meet the claims of creditors, as per the data provided to the central bank.

The application of the banking licence annulment was filed in May 2020 and it includes broker, dealer, and depository activities of the bank.

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Keywords: Bank of Russia, banking, Morgan Stanley Bank, credit, Russia
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Russian Federation
This article is part of category

Banking & Fintech