OREANDA-NEWS. In compliance with Clause 2 of Article 18926 and Articles 18931, 18932 and 18935 of the Federal Law ‘On the Insolvency (Bankruptcy)’ and following revocation of the banking licence of the credit institution Public joint-stock company Commercial bank EurocityBank or PJSC CB EurocityBank (the town of Mytishchi, the Moscow Region) (Bank of Russia Registration No. 1869, date of registration — 20 May 1992), the Bank of Russia took a decision (Order No. OD-2158, dated 7 July 2016) to appoint from 7 July 2016 a provisional administration to manage the credit institution Public joint-stock company Commercial bank EurocityBank for a term in accordance with the Federal Law ‘On the Insolvency (Bankruptcy)’ until the arbitration court adjudication on the recognition of bankruptcy and initiation of bankruptcy proceedings (appointment of a receiver) or until the arbitration court adjudication on the appointment of a liquidator becomes valid.

Alexander V. Sychyev, chief economist of the financial monitoring of non-bank financial institutions section No. 2 of the Financial Monitoring of Banking Activities, Financial Markets and Foreign Exchange Control Division of the Bank of Russia Main Branch for the Central Federal District, has been appointed as a head of the provisional administration of the credit institution Public joint-stock company Commercial bank EurocityBank.