OREANDA-NEWS. April 04, 2016. Due to the failure to meet creditors’ claims on monetary obligations within seven days from their maturity date and guided by Article 18938 of the Federal Law ‘On Insolvency (Bankruptcy)’, the Bank of Russia imposed a moratorium on meeting creditors’ claims with respect to FCRB Bank, limited liability company, or LLC FCRB Bank (registration No. 3291) for a three-month term.

Pursuant to the Federal Law ‘On the Insurance of Household Deposits with Russian Banks’ the moratorium on meeting bank creditors’ claims is an insured event. Payments to LLC FCRB Bank depositors, including individual entrepreneurs, will start no later than 14 days since the date the moratorium has been imposed. The state corporation Deposit Insurance Agency will determine the procedure for paying indemnities.