OREANDA-NEWS. The Bank of Russia Board of Directors approved amendments to the plan of participation of the state corporation Deposit Insurance Agency (hereinafter, the Agency) in the bankruptcy prevention of OJSC National Bank TRUST (hereinafter, the Bank).

The amendments to the participation plan envisage the provision by the agency to OJSC National Bank TRUST of financial aid worth up to 99 billion rubles for a term of ten years to cover the imbalance between the fair assets value and the balance sheet value of the Bank's liabilities out of the Bank of Russia loan. Simultaneously, the Agency will provide a loan worth 28 billion to the investor for a term of six years to keep the Bank's liquidity out of the Bank of Russia loan.

The Agency held a tender to pick up an investor for the participation in the Bank's bankruptcy prevention with PJSC Bank FC Otkritie being the winner. The participation plan envisages the establishment of control over the Bank as well as its reorganisation through merger with PJSC FC Otkritie before 31 December 2020.

The implementation of the Bank's financial resolution provides for the non-interrupted services to its creditors and clients including settlements and payments.