OREANDA-NEWS. The Board of the National Bank took the decisions to suspend since January 29, 2015 for one year the banking licenses of the "InterPayBank" Joint Stock Company, Closed Joint Stock Company "Bank of Investment Technologies" (CJSC "BIT-Bank"), Joint-stock company "Eurobank" (JSC "Eurobank"), and Closed joint-stock company "North European Bank" (CJSC "N.E.B. Bank") with respect to separate banking operations which imply the availability of the regulatory capital in the amount of no less than EUR25 million.

The sanctions were applied to the above-mentioned banks as a result of their noncompliance with the license requirements on the availability of the regulatory capital of no less than the minimum amount prescribed by the National Bank and other requirements of the Belarusian legislation.

According to the decisions taken with respect to the "InterPayBank" Joint Stock Company, the following banking operations have been suspended:

  • attraction of funds from natural persons to accounts and into deposits;
  • placement of funds attracted from natural persons to accounts and into deposits on its own behalf and at its own expense on the terms of repayment, interest payment, and maturity;
  • opening of bank accounts for natural persons and maintenance thereof;
  • attraction of precious metals and placement thereof into the natural persons’ deposits;
  • issuance of bank guarantees;
  • issuance of bank payment cards; and
  • issuance of electronic money.

With respect to the CJSC "BIT-Bank", JSC "Eurobank", and CJSC "N.E.B. Bank" the following banking operations have been suspended:

  • issuance of bank guarantees;
  • issuance of bank payment cards; and
  • issuance of securities confirming the attraction of monetary funds into deposits and placement thereof on accounts.

The decision on the suspension of separate banking operations of the above-mentioned banks will not result in the need for early fulfillment of obligations under the previously concluded contracts.

According to Article 98 of the Banking Code, the obligations related to the performance of the above-mentioned operations shall cease upon fulfillment by the parties of their obligations under corresponding agreement. In this case, the bank may not enter into the new agreements and revalidate for a new time period previously concluded agreements the fulfillment of which is related to the performance of the banking operations in respect of which the banking license was suspended.

The owners of the above-mentioned banks are obliged to take measures aimed at increasing regulatory capital and remedying other violations, following which the suspended banking licenses in respect of separate operations may be revalidated, or take a decision on the change of the banks’ status for non-bank financial institutions which are involved in a limited number of operations.