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Central Bank Writes Off Bankers
Central Bank of Russia, CBR, has become the country’s first financial regulator introducing the practice of black lists with the names of top managers. The consolidated list of bankers through whose fault the banks lost their licenses has been recently released at the CBR web. The purpose to attain is preventing future employment of such bankers in the bank sector.
CBR and the Deposit Insurance Agency don’t parade their black lists with the names of the bankers. The information resulted from the joint effort of both departments and is available on their official webs as the supplement to On Winding Up Credit Organizations document.
The lists are given as tables specifying the data on calling to civil liability and criminal account the officials of credit organizations acknowledged bankrupt from 2005 to January 1, 2008.
CBR hadn’t published such lists until recently. “As a regulator, we surely have the information about chiefs of problem banks, but for the first time, we have unveiled the summery data to the general public,” said Mikhail Sukhov, head of the CBR department for licensing and financial recovery. In Deposit Insurance Agency, they said it was the first attempt to inform the public at large about unfair chiefs of the banks.
In addition to the black list of top managers, CBR’s web offers the information about auditors that had inspected the banks before their licenses were called off. Of interest is that, according to the web of the RF Finance Ministry, the licenses were terminated only for three of eight auditors named by the CBR.
The bankers, whose names are mentioned in the CBR list, couldn’t be reached for comment yesterday.
www.kommersant.com
All the Article in Russian as of Apr. 02, 2008
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