Is the validity period of a commercial bank license limited? Legal regulation of banking operations in the Russian Federation
Bank license - how is it issued and why does the bank need it?
To start operating as a bank, each institution must obtain special permission - a banking license. Without it, it is impossible to carry out a single transaction, even the simplest one.
Bank license is a permit issued by the Central Bank to an institution intending to engage in financial business. This document specifies all operations that are permitted to be carried out by this organization, and the permitted currency. The validity period of the permit does not have a specific framework, but the Central Bank of the Russian Federation can revoke it on legal grounds.
The presence of permission indicates that clients are protected from dishonest treatment or deception. Carrying out financial transactions without obtaining permissions leads to the fact that the financial the institution will be fined a large sum or liquidated.
All documents issued by the Central Bank are recorded in a single register, which is published once a year in the Bulletin of the Bank of Russia.
Why does a bank need a license?
This document confirms the institution's ability to conduct financial transactions. The inspection is carried out by the Central Bank of the Russian Federation after the organization has submitted all documents to request a license document. Obtaining it and going through all stages of verification takes a lot of time (within 1-3 years). An organization that passes the test and proves that it is capable of conducting banking operations receives this document.
For clients, the presence of official permission from the Central Bank indicates the reliability of the institution. All their requests will be carried out in accordance with the law and in accordance with the established procedure. In case of emergency situations, the client can always turn to legal authorities to solve the problem.
Who has the right to issue a license to conduct financial activities?
On the territory of the country, the issuance of licenses and their revocation is handled exclusively by the Central Bank of the Russian Federation on behalf of the state. This is confirmed by the federal law “On the Activities of Banks” dated December 2, 1990 No. 395. Licenses issued by other legal organizations of the Russian Federation are considered invalid and have no legal basis. Forgery of a banking license is punishable by law.
How to obtain a bank license?
To obtain a license, you must submit all specified documents on time. This period is at least two years after state registration. At the same time, the organization must already have a capital of at least 300 million rubles.
List of documents required to obtain permission from the Central Bank:
- The application itself indicating the address of the permanent location of the banking institution for communication with it,
- Foundation agreement (notarized copy or original),
- Fin. approved by the meeting. the institution's charter, which stipulates the decision on its approval, applicants for a leadership position and the chief accountant,
- State payment receipt duties for government registration of the organization and for providing
- Conclusion of independent auditors on the reliability of the provided financial statements of the bank’s founders,
- Documents confirming the legality and source of money contributed to the authorized capital,
- Handwritten dossiers of applicants for the positions of chief accountant, bank manager, and their deputies, indicating: the presence of a higher education (with supporting documents attached), experience in managing an institution, experience in keeping records of banking activities, a certificate from the Ministry of Internal Affairs of the Russian Federation on the presence/absence of a criminal record
- Certificate from the antimonopoly authority regarding its consent to the creation of this organization,
- List of founders in paper form,
- Other documents determined by regulations and laws.
What types of licenses can a bank obtain?
There are several types of permits that an organization can obtain that are required to conduct operations.
Types of licenses:
- General license is the main and most important one. Its number must be indicated on all documents and on the website, and a copy can be provided to each client upon request.
- to carry out transactions in rubles,
- for transactions in foreign currency,
- on the possibility of attracting money from the population to deposits in rubles or foreign currency,
- for deposits in precious metals,
- to establish correspondent relations with foreign banks,
- to carry out professional activities in the securities market and others.
Revocation of a bank's license.
The Central Bank of the Russian Federation may revoke issued permits at any time. About the reasons in more detail. After this, the organization has no right to carry out any operations. The reasons for the revocation are: violation of the law, negative financial activity, violation of liquidity and asset sufficiency standards, violation of the law on money laundering, merger or acquisition by another organization or bank, identification of false information for obtaining a license, unreliable financial reporting, self-liquidation, violation of other laws and regulations acts.
You can find out that a financial institution’s license has been revoked in the official publication of the Central Bank or in the media.
If, when the license is revoked, the institution cannot pay its depositors, then the DIA handles the payments. Loans must be repaid by borrowers in the same order and terms under which they were already issued in favor of another person (the buyer of loans from a closed financial institution). 
Conclusions:
- The presence of a general license indicates the development of finance. institutions,
- When choosing a bank for a deposit, you need to pay attention to the bank’s participation in the deposit insurance system,
- The bank’s request to repay the loan ahead of schedule is the first sign of the beginning of the revocation of the business permit,
- A refund after license revocation is possible in a month at best,
- Loans after revocation will have to be repaid at the same regularity.
8. Types of banking licenses.
The types of licenses and the rules for obtaining them are specified in the Bank of Russia Instruction No. 135-I dated April 2, 2010.
Licenses issued to a bank created by establishment:
License to carry out banking operations with funds in rubles(without the right to attract funds from individuals into deposits).
(without the right to attract funds from individuals into deposits). The bank has the right to establish correspondent relations with an unlimited number of foreign banks.
. Can be issued to a bank simultaneously with a license of 2 types.
Licenses issued to expand the bank’s activities:
License to carry out banking operations with funds in rubles and foreign currency(without the right to attract funds from individuals into deposits).
License to attract deposits and place precious metals. It can be issued to a bank if it has or simultaneously with a license to carry out banking operations with funds in rubles and foreign currency.
License to attract deposits of funds from individuals in rubles.
License to attract deposits from individuals in rubles and foreign currency. It can be issued if there is a license to carry out banking operations with funds in rubles and foreign currency or simultaneously with it.
General license. Gives the right to carry out all types of operations, create branches abroad, acquire shares or shares in the authorized capital of foreign banks. Can be issued to a bank that has licenses to carry out all banking operations with funds in rubles and foreign currency; It is not necessary to have a license to carry out banking operations with precious metals.
To obtain it, a comprehensive audit of the bank’s activities is carried out. From the date of registration must pass at least 2 years and the amount of equity at least 900 million rubles.
9. Grounds for revocation of a credit organization’s license
The bank can be liquidated voluntarily (based on the decision of its founders) or forcibly (at the initiative of the Bank of Russia)
According to Federal Law of December 2, 1990 No. 395-1 “On Banks and Banking Activities”, there are two lists of reasons for the Central Bank to apply such a sanction: when it is clearly obliged and when it can do so.
The Bank of Russia is obliged to revoke a banking license in the following cases:
if the capital adequacy of the credit institution falls below 2%;
if the amount of own funds is less than the minimum value authorized capital established on the date of state registration (the norm does not apply to credit institutions during the first two years from the date of issue of the license);
if the credit institution fails to comply on time with the requirements of the Bank of Russia to bring the amount of its authorized capital into compliance with the amount of its own funds;
if the credit institution is unable to satisfy the claims of creditors for monetary obligations or fulfill the obligation to make payments within 14 days from the date of their due date. At the same time, these requirements in total must amount to at least a thousand times the minimum wage;
if the bank allowed the capital to be reduced to a level below the minimum amount own funds, established by the Central Bank and calculated according to its methodology. In this case, the bank can apply to the Central Bank with a request to transfer it to the category non-bank credit organizations.
The Bank of Russia may revoke a banking license (but is not obliged to do so) as a result of the following violations:
the information on the basis of which the said license was issued was revealed to be unreliable;
start of implementation delayed banking operations provided for by the license for more than one year from the date of its issue;
facts of significant unreliability of reporting data were identified;
submission of monthly reports is delayed by more than 15 days;
carrying out, including one-time, banking operations not provided for by the existing license;
failure to comply with federal laws and regulations governing banking activities, if within one year the credit institution was repeatedly subject to measures provided for by federal law, as well as repeated violations within one year of the requirements Federal Law “On Combating the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism”;
repeated failure within one year to comply with decisions of courts and arbitration courts - demands for the collection of funds from the accounts (deposits) of clients of a credit institution;
availability of a petition from the temporary administration of the bank;
repeated failure by the credit institution to provide the Bank of Russia with updated information required to make changes to the unified state register within the prescribed period legal entities;
failure of a credit organization that manages mortgage coverage to comply with the requirements of the Federal Law “On Mortgage Securities” and regulatory legal acts, as well as failure to eliminate violations within the established time frame, if within one year the credit organization was repeatedly subject to the measures provided for Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”;.
The Central Bank appoints a temporary administration to the bank no later than the next day after the decision to revoke the license is made. By law, such a credit institution must be liquidated. If there are sufficient funds, voluntary liquidation is carried out; if there are insufficient funds, a bankruptcy procedure is carried out.
The procedure for issuing licenses to commercial banks is regulated by the Federal Law “On Banks and Banking Activities”, the Federal Law “On the Central Bank of the Russian Federation”, as well as Chapter 8 “The procedure for issuing a license for banking operations to a credit organization created by establishment” and Section III of Instruction 109-I. The basis for issuing a license to carry out banking operations is confirmation of timely and lawful payment of 100% of the authorized capital of the KO, as well as registration of a report on the results of the first issue of shares of the KO in the form of a joint stock company.
Upon establishment, the bank may be issued the following types of licenses:
1. License to carry out banking operations with funds in rubles (without the right to attract funds from individuals on deposit. These include (Appendix 6 to Instruction 109):
Attracting funds from legal entities into deposits (on demand and for a period).
Placement of funds attracted to deposits (on demand and for a certain period) of legal entities on their own behalf and at their own expense.
Opening and maintaining bank accounts for legal entities.
Carrying out settlements on behalf of legal entities, including correspondent banks, on their bank accounts.
Issuance of bank guarantees.
2. License to carry out banking operations with funds in rubles and foreign currency (without the right to attract personal funds into deposits), containing the banking operations listed in Appendix 7 to the Instructions. It allows you to perform all of the above operations not only in rubles, but also in foreign currency, as well as carry out purchase and sale transactions of foreign currency in cash and non-cash form. If this license is available, the bank has the right to establish correspondent relations with an unlimited number of foreign banks;
3. License to attract deposits and place precious metals, containing banking transactions listed in Appendix 8 to the Instructions. It allows you to attract deposits and place precious metals, as well as other operations with precious metals in accordance with the Federal Law on Precious Metals and Precious Stones, which do not require a license from the Central Bank of the Russian Federation, but require permission from the Ministry of Finance of the Russian Federation. This license can be issued to the bank simultaneously with the license to work with foreign currency.
The Bank of Russia makes a decision to issue a license to carry out banking operations within three days from the date of receipt of the conclusion of the State Technical Institution on the legality of payment of 100% of the authorized capital. He sends 1 copy of the license to the credit institution and the State Technical University. The first copy of the license to carry out banking operations is issued to the chairman of the board of directors of the credit institution or another authorized person who has confirmed receipt of the license in writing.
No later than 5 working days from the date of making the decision to issue a license to the CO, the Bank of Russia, in accordance with the established procedure, sends the relevant information to the registration authority. The Bank of Russia maintains a Register of licenses issued to companies to carry out banking operations. It is subject to publication in the “Bulletin of the Bank of Russia” at least once a year. Changes in the register are published within one month from the date of their introduction.
After receiving a license, the bank can begin operations. In the process of development, it can set tasks to expand the range of operations performed and apply to the Central Bank of the Russian Federation with a request to obtain additional licenses. The procedure for obtaining additional licenses is regulated by Section III of Instruction 109.
In the future, the bank can expand its activities by obtaining additional licenses. To obtain an additional license, the bank must meet the following requirements:
financial stability over the past six months;
meeting mandatory reserve requirements;
comply with the requirements established by federal laws and regulations of the Bank of Russia regarding the provision of information about participants and their groups (affiliates), which makes it possible to unambiguously identify persons (including those who are not participants in the KO) who have the ability to directly or indirectly determine decisions made by the management bodies of the KO;
have no debt to budgets of all levels;
have an organizational structure (including an internal control service) adequate to the scale of operations carried out by the credit institution and the risks assumed;
availability of appropriate technical conditions and qualified personnel.
To obtain a license expanding its activities, a company must submit the following documents to the State Technical Institution, which supervises its activities:
petition signed by an authorized person (2 copies);
a published annual report, certified by an audit organization, and a duly certified copy of the auditor’s report for the year preceding the KO’s application for a license expanding its activities (if these documents have not previously been submitted to the State Technical University);
business plan of the CO or in cases of changes and additions to the business plan provided for by regulations of the Bank of Russia (2 copies);
confirmation from authorized bodies that there is no debt of the KO to budgets of all levels;
document confirming payment of the license fee (1 copy).
The State Technical University, within 90 calendar days from the date of receipt of the documents, reviews them and sends to the Licensing Department a conclusion on the possibility of issuing a license to the company to expand its activities. Based on the documents received, the Bank of Russia makes a decision to issue the CO the license specified in its application.
The Licensing Department sends 2 copies of the license to carry out banking operations to the State Technical University. Within 5 working days from the moment the decision is made, the Bank of Russia notifies the registration authority about this. No later than the business day following the day the decision is made to issue a license to work with individuals, the Bank of Russia informs the Deposit Insurance Agency about this.
An operating bank may be issued the following types of licenses to carry out banking operations:
with funds in rubles and foreign currency (without the right to attract funds from individuals on deposit), which gives the right to establish correspondent relationships with an unlimited number of foreign banks;
a license to attract deposits and place precious metals can be issued if there is a license (or simultaneously with a license) to carry out transactions with funds in rubles and foreign currency);
license to attract funds from individuals in rubles;
license to attract deposits from individuals in rubles and foreign currency.
After 2 successful years, banks can obtain a license to work with individuals, respectively, only in rubles if they have a ruble license, or in rubles and in foreign currency if they have a foreign currency license. The issuance of one of these licenses gives the bank the right to perform the following operations (Appendices 16,17):
Attracting funds from individuals into deposits (on demand and for a period).
Placement of funds raised as deposits by individuals in their own name and at their own expense.
Opening and maintaining bank accounts for individuals.
Carrying out settlements on behalf of individuals on their bank accounts.
In this case, the KO must comply with the requirements established by the Federal Law “On insurance of deposits of individuals in banks of the Russian Federation”. When considering the issue of issuing such a license to a bank, an inspection is carried out in accordance with Article 45 of the Federal Law on deposit insurance.
After 2 years and the presence of all licenses (except for the license to work with precious metals, the presence of which is optional), the bank can apply for a General License, which gives the right to open branches abroad and acquire shares in the authorized capitals of foreign credit institutions. A complete list of operations that can be carried out on the basis of the General License is given in Appendix 18 to Instruction 109:
Attracting funds from individuals and legal entities into deposits (on demand and for a certain period).
Placement of funds attracted to deposits (on demand and for a certain period) of individuals and legal entities on their own behalf and at their own expense.
Opening and maintaining bank accounts for individuals and legal entities.
Carrying out settlements on behalf of individuals and legal entities, including authorized correspondent banks and foreign banks, on their bank accounts.
Collection of funds, bills, payment and settlement documents and cash services for individuals and legal entities.
Purchase and sale of foreign currency in cash and non-cash forms.
Issuance of bank guarantees.
Making money transfers on behalf of individuals without opening bank accounts (except for postal transfers).
The bank has the right, in accordance with the established procedure, to create branches in the territories of foreign states and (or) acquire shares (stakes) in the authorized capital of foreign banks.
When considering the issue of issuing a General License to a bank, it conducts a comprehensive audit or takes into account the results of such an audit conducted no earlier than 3 months before the submission of the application for a license.
For consideration of the issue of issuing a license to a credit institution to carry out banking operations, a license fee is charged in the amount of 0.01% of the amount of the authorized capital specified in the charter of the credit institution, but not more than 40 thousand rubles. This fee is paid by the credit institution at its location and goes to the federal budget.
A banking license is a special permit from the Bank of Russia to carry out banking activities, certifying the right of a credit institution to conduct the financial transactions specified in it. In the Russian Federation, according to Federal Law N 395-1 of December 2, 1990 “On Banks and Banking Activities,” all banking operations are carried out on the basis of a license issued by the Bank of Russia, entered in the register. The document is issued without any limitation on its validity period. The revocation of the license is carried out by the Central Bank of the Russian Federation.
Types of banking licenses
The Bank of Russia issues 8 types of licenses for banking operations:
- a license to conduct banking operations with funds in rubles without the right to attract funds from individuals;
- a license to carry out banking operations with funds in rubles and foreign currency without the right to attract funds from individuals;
- a license to attract deposits and place precious metals without the right to attract funds from individuals;
- license to attract deposits from individuals in rubles;
- license to attract deposits from individuals in rubles and foreign currency;
- general license;
- license to conduct bank clearing;
- license for collection production.
Return of banking license
A financial institution from which the Central Bank of the Russian Federation has revoked its permission to carry out banking activities has the right to return its license. To do this, the credit institution must challenge the actions of the Bank of Russia in court. If the decision is positive, the license will be returned. Such precedents have taken place in judicial practice.
The Bank of Russia may, on its own initiative, return a banking license to a financial institution from which it was revoked. This occurs after all violations in the bank’s activities have been eliminated.
Issuance of banking licenses
Banking licenses are issued by the Central Bank of the Russian Federation. To obtain a document authorizing financial activities, a credit institution must meet a number of requirements.
Banking licenses are issued after registering a financial organization and entering data about it into the register; payment of 100% of the authorized capital; opening a correspondent account for a credit institution with the Bank of Russia. After all these conditions are met, the license is issued to the credit institution within three days.
General banking license
A general banking license is a document that gives a financial institution the right to carry out banking operations with funds in rubles and foreign currency, to attract funds from individuals and legal entities in rubles and foreign currency.
A credit organization with a general license can:
- create branches and subsidiaries on the territory of a foreign state;
- place federal budget funds in bank deposits;
- invest in deposits in rubles pension savings and savings for housing provision for military personnel;
- participate in a competition for the right to perform the functions of an agent for the placement of government savings bonds and carry out a number of other operations.
License for banking activities
The banking license specifies the financial transactions that the credit institution has the right to conduct, as well as the currency in which these transactions can be carried out. A newly created bank can be issued only three types of licenses. After several years of successful operation and fulfillment of a number of conditions, a financial institution can obtain other types of licenses. As a result, all received documents can be replaced with a general license. Carrying out banking activities without a license is a serious offense.
Revocation of banking license
The revocation of a banking license of a financial institution is carried out by the Bank of Russia. A credit organization's license is revoked upon its liquidation. The basis for such a decision may be systematic violations of the law committed by the bank, bankruptcy, failure to submit reports and other factors. Information about the revocation of a banking license is published in open sources - in the press, on the website of a financial institution. Every year, the Central Bank of the Russian Federation revokes licenses from several dozen financial institutions.
Banking license term
A banking license is issued without specifying its validity period. A financial institution may carry out the types of activities specified in the document until the license is revoked by the Central Bank of the Russian Federation and the credit institution ceases operating. In the document you can find only one date for issuing a license to a credit institution. Inspections of financial organizations are carried out annually, as a result of which banks may be deprived of their license.
Advice from Sravni.ru: When planning to open a bank account, it is worth familiarizing yourself with the license of the financial institution.
Licensing of banking operations
In accordance with the Decree of the Government of the Russian Federation of December 24, 1995 “On licensing of certain types of activities”, certain types of activities in the Russian Federation are carried out on the basis of a license - a special permit from the bodies authorized to conduct licensing. Banking operations are among those types of activities that require a license. This is evidenced by Article 13 of the Law on Banks and Banking Activities: “Banking operations are carried out only on the basis of a license issued by the Bank of Russia in the manner established by this Federal Law.” This provision is confirmed by Article 12 of the law: “Credit organizations receive the right to carry out banking operations from the moment they receive a license issued by the Bank of Russia.”
An indispensable condition for obtaining a license to conduct banking operations is state registration of a credit organization (Article 12).
In accordance with the law, a license to carry out banking operations indicates the banking operations that a given credit institution has the right to carry out, as well as the currency in which these banking operations can be carried out.
A license to carry out banking operations is issued without limiting its validity period.
Thus, a license to carry out banking operations is a special permission from the Bank of Russia to carry out banking operations in the form of an official document certifying, in compliance with the form established by the Bank of Russia, the right of a credit institution to carry out the banking operations specified in it, without limiting the validity period of such a document. Tosunyan G. Vikulin A. Ekmalyan A. Banking law. A common part. M., 1999, p.213.
Currently, the Bank of Russia issues eight main types of licenses for banking operations:
License to carry out banking operations with funds in rubles;
License to carry out banking operations with funds in rubles and foreign currency;
License to attract deposits and place precious metals;
License to attract deposits from individuals in rubles;
License to attract deposits from individuals in rubles and foreign currency;
General license;
License for bank clearing;
License for collection.
Carrying out banking operations by a legal entity without an appropriate license entails legal liability. The legislation provides for the recovery from such a legal entity of the entire amount received as a result of these transactions, as well as the collection of a fine in the amount of twice this amount to the federal budget. Collection is carried out in court at the request of the prosecutor, the relevant federal executive body authorized by federal law, or the Bank of Russia.
Carrying out banking activities without an appropriate license entails criminal liability. In accordance with Article 172 of the Criminal Code of the Russian Federation, carrying out banking activities (banking operations) without a special permit (license) in cases where such a license is required, or in violation of licensing conditions, in cases where this act caused major damage to citizens, organizations or the state , or is associated with the extraction of income on a large scale, is punishable by a fine in the amount of five hundred to eight hundred times the minimum wage or in the amount of wages or other income of the convicted person for a period of five to eight months, or by imprisonment for a term of up to four years with a fine in the amount of up to fifty minimum wages or in the amount of wages or other income of the convicted person for a period of up to one month or without it.
In accordance with Part 2 of this article, the same act committed by an organized group, or associated with the extraction of income on an especially large scale, or committed by a person previously convicted of illegal banking activities or illegal entrepreneurship, is punishable by imprisonment for a term of three to seven years. with or without confiscation of property.
As noted above, the Central Bank of the Russian Federation has the right to issue licenses for banking operations. In accordance with paragraph 6 of Article 4 of the Law on the Central Bank, the issuance of licenses to commercial banks and the revocation of these licenses are among the functions of the Bank of Russia.
To carry out state registration of a credit organization and obtain a license to carry out banking operations, the credit organization submits the following documents to the Bank of Russia:
1) an application for state registration of a credit organization and the issuance of a license to carry out banking operations;
2) the constituent agreement, if its signing is provided for by federal law;
4) minutes of the meeting of founders on the adoption of the charter and on the approval of candidates for appointment to the positions of heads of executive bodies and chief accountant;
5) certificate of payment of state duty;
6) copies of certificates of state registration of founders - legal entities, audit reports on the reliability of their financial statements, as well as confirmation by the State Tax Service of the Russian Federation of the fulfillment of obligations by the founders - legal entities to the federal budget, budgets of constituent entities of the Russian Federation and local budgets for the last three years ;
7) declarations of income of the founders - individuals, certified by the authorities of the State Tax Service of the Russian Federation, confirming the sources of origin of funds contributed to the authorized capital of the credit organization;
8) questionnaires of candidates for the positions of heads of executive bodies and chief accountant of a credit organization, filled out by them and containing information about the presence of these persons with a higher legal or economic education (with the presentation of a copy of a diploma or a substitute document) and experience in managing a department or other division of a credit organization, related to banking operations, at least one year, and in the absence of special education - experience in managing such a unit for at least two years, as well as the presence (absence) of a criminal record.
A decision on the state registration of a credit organization and the issuance of a license to carry out banking operations or a refusal to do so is made within a period not exceeding six months from the date of submission of all documents provided for by this Federal Law.
In case of a positive decision on state registration of a credit organization, the Bank of Russia issues a license to carry out banking operations to the credit organization within three days after presentation of documents confirming payment of 100 percent of the declared authorized capital of the credit organization. After receiving a license, a credit institution has the right to begin banking operations in accordance with the issued license.
Refusal to issue a license, as well as refusal of state registration of a credit organization, can be carried out only on the grounds listed in Article 16 of the Law on Banks and Banking Activities:
1) non-compliance with the qualification requirements for the proposed candidates for the positions of heads of executive bodies and (or) chief accountant.
2) the unsatisfactory financial position of the founders of the credit organization or their failure to fulfill their obligations to the federal budget, the budgets of the constituent entities of the Russian Federation
Federation and local budgets over the past three years;
3) non-compliance of documents submitted for state registration of a credit organization and obtaining a license with the requirements of federal laws.
The decision to refuse state registration and issuance of a license is communicated to the founders of the credit organization in writing and must be motivated.
Refusal of state registration and issuance of a license, failure of the Bank of Russia to make a corresponding decision within the prescribed period can be appealed to an arbitration court.
Licensing of banking operations of branches of foreign banks wishing to carry out their activities on the territory of the Russian Federation has certain specifics. In this case, as stated in Article 17 of the Law on Banks and Banking Activities, the relevant foreign legal entities provide additional documents:
1) a decision on his participation in the creation of a credit organization on the territory of the Russian Federation or on the opening of a bank branch;
2) a document confirming the registration of a legal entity and balance sheets for the three previous years, confirmed by an audit report;
3) written consent of the relevant control body of the country of his residence to participate in the creation of a credit organization on the territory of the Russian Federation or to open a bank branch in cases where such permission is required by the legislation of the country of his residence.
A foreign individual provides confirmation from a first-class (according to international practice) foreign bank of the person's solvency.
The legislation also provides for possible cases of revocation of a credit institution’s license. In accordance with Article 20 of the Law on Banks and Banking Activities, the Bank of Russia may revoke a license to carry out banking operations in the following cases:
1) establishing the unreliability of the information on the basis of which the license was issued;
2) delays in the start of banking operations provided for by the license for more than a year from the date of its issue;
3) establishing facts of unreliability of reporting data;
4) carrying out, including one-time, banking operations not provided for by the license of the Bank of Russia;
5) failure to comply with the requirements of federal laws regulating banking activities, as well as regulations of the Bank of Russia, if during the year the credit organization was repeatedly subject to measures provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”;
6) the unsatisfactory financial position of the credit organization, its failure to fulfill its obligations to depositors and creditors, which is the basis for filing an application to initiate insolvency (bankruptcy) proceedings in the arbitration court of the credit organization.
Revocation of a license to carry out banking operations on grounds other than those provided for by Federal Law is not permitted.
Revocation of a license is an effective measure, a strict sanction applied by the Central Bank for gross violations of banking legislation. But, according to Ya. A. Geyvandov, the current legislation “essentially provides for two forms of sanctions related to the implementation of banking operations by credit institutions - a temporary restriction for a period of up to 6 months or a complete ban (for a period of up to a year) on the implementation by credit institutions of certain banking operations." Geyvandov Y.A. Central Bank of the Russian Federation. M., 1997, pp. 197-198.
In case of less significant violations, restrictions on banking transactions are applied. A complete ban on banking operations for a period of up to a year may occur in the following cases: failure by credit institutions to comply with orders to eliminate violations within the period established by the Bank of Russia, a real threat to the interests of creditors (depositors) resulting from violations committed by the credit institution or banking operations carried out by it . Ibid., p.199. Thus, the revocation of a license to conduct banking operations is an exceptional measure following other preventive measures, but it does not mean the liquidation of a credit organization as a legal entity.
Consequently, banking operations are an activity that, in accordance with the law, is subject to mandatory licensing. Licensing is carried out by the Bank of Russia.
Conducting banking operations without a proper license entails legal liability.