CZECH Central Bank withdraws licence of Russian bank ERB

26 October 2016 —
The Czech central bank said on Monday it had withdrawn the licence of ERB, a small Russian-owned bank operating in the Czech market.

The market regulator cited non-functioning control systems and buying bonds in violation of the law as the main reasons for the revocation. It said it would submit a court proposal for naming a liquidator of ERB. Read the full story CZECH Central Bank withdraws licence of Russian bank ERB
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