UPDATE: Cbank appoints DIA as interim administration at IBSP Bank

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MOSCOW, Oct 15 (PRIME) -- The central bank has appointed the Deposit Insurance Agency (DIA) as interim administration at International Bank of Saint Petersburg (IBSP Bank) for six months, and introduced a moratorium on satisfaction of claims of IBSP Bank’s creditors for three months, the regulator said in a statement on Monday.

The decisions were made due to an unstable financial condition of the bank and a threat to interests of its creditors and depositors, the authority said.

IBSP Bank is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation if an insured event occurs.

A spokesperson for the DIA said that according to preliminary data, the bank’s insurance liability will amount to 16.5 billion rubles.

(65.9751 rubles – U.S. $1)

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