Elimination of credit institutions
Tuesday, April 13, 2010 18:03Introduction 3 1. liquidation of credit institutions 6 1.1. Liquidation 6 1.2. Reasons for the Elimination 8 1.3. The procedure for voluntary liquidation 9 1.4. To accelerate the elimination of credit institutions, by decision of the arbitral tribunal in accordance with Article 61 of the Civil Code of Russia (CBR letter dated 28.10.98 ? 306-T) 11 1.5. Duties of the official making the decision to liquidate the legal entity 13 1.6. The order of liquidation of legal entity 13 1.7. Satisfaction of creditors 15 1.8. Bankruptcy of credit institutions 17 2. Banking system. Arbitration practice 22 2.1. Economic overview of the banking system of Russia and Novosibirsk Region 22 2.2. Review of the practice of courts of arbitration legislation on insolvency (bankruptcy) 30 2.3. The development of international cooperation in the field of legal regulation of banking activities 47 3. Liquidation Balance 54 3.1. On the procedure for the liquidation balance sheet 54 3.2. Procedure of coordination of interim liquidation balance territorial agencies of Bank of Russia 65 3.3. Requirements for the preparation of the final liquidation balance sheet liquidation of credit institutions 67 3.4. Procedure of coordination of the final liquidation balance territorial agencies of Bank of Russia 69 Conclusion 71 APPENDIX 77 List of used literature 95 introduction
Bank is a credit organization, established to raise funds and posting them on his behalf under the terms of repayment, serviceability and urgency. The main purpose of bank intermediation in the transfer of funds from lenders to borrowers and from seller to buyer. Along with banks moving funds to carry out market and other financial and credit institutions: investment funds, insurance companies, broker and dealer firms, etc. But the banks as the financial market have two important features that distinguish them from all other subjects . First, for banks is characterized by double-debt swaps: they put their own debt obligations (deposits, savings certificates, etc.), and mobilized funds thus placed in bonds and debt securities issued by others. This distinguishes banks from the financial brokers and dealers who do not issue their own debt. – Second, banks are distinguished by the assumption of unconditional commitment to a fixed amount of debt to corporations and individuals. These banks are different from the various investment funds, which all the risks associated with changes in the value of its assets and liabilities and distribute among its shareholders. In Russia the establishment and operation of commercial banks based on the RF Law “On banks and banking activity in Russia.” In accordance with this law, banks in Russia act as a universal credit institution carrying out a wide range of operations in the financial market: the provision of different types and terms of loans, purchase and sale and possession of securities, foreign exchange, raising funds in deposits, settlements, issuing guarantees , guarantees and other obligations, brokers and trustees, etc. In Russia, banks may be established on the basis of any form of ownership of private, collective, joint-stock, mixed. Not excluded the possibility of creating banks that are based solely on public ownership, which, in accordance with current legislation can operate on a commercial basis. To form the charter capitals of Russian banks are allowed to attract foreign investment. The decision to open individual bank with the participation of foreign investment adopted by the Council of Directors of the CBR. Central Bank sets a limit of foreign capital in the banking system of the country. If at the initial stage of the reform of the credit system, commercial banks were established mainly on the basis of the shareholding, for the current phase is characterized by mutual transformation into joint-stock banks and the establishment of new banks in the form of joint stock companies. The most important principle, which is based on the activity of commercial banks is the economic independence, implying and economic responsibility of the bank for its performance. Economic independence implies freedom of disposal of banks’ own funds and attract resources, free choice of customers and depositors, the disposal income of the bank. Current legislation provides for all commercial banks to economic freedom in managing their funds and revenues. The bank’s profit, remaining at his disposal after tax, is distributed in accordance with the decision of the general meeting of shareholders. It establishes the rules and the size of deductions to the various funds that the bank, as well as the size of dividends on shares. According to its commitments Commercial Bank meets all of its funds and property, which may be imposed a penalty. The entire risk of their operations from their commercial bank takes over. In this paper we consider such an important issue associated with the lending institutions as the legal aspect of the liquidation of the organization, the difficulties associated with the preparation and conduct of the liquidation of a credit institution, the questions arise in this case. This will be considered indicators of credit institutions, their number and the number of their branches, their distribution by economic regions of Russia, the figures given in time. Consider credit organizations, located within the Novosibirsk region in comparison with equal credit organizations in Russia in general. 1. liquidation of credit institutions
1.1. Liquidation
The elimination of a credit organization may occur in connection with its expiry, revocation of license, violations, etc. The elimination of this termination of the company without the transfer of rights and obligations to third parties. The final results of the liquidation and confirmation of the liquidation of the enterprise is to make this record in the State Register and a certificate of elimination. Liquidation is rather complicated and laborious process that takes an average of 10-12 months, depending on the specific situation, but in some cases been able to complete all business enterprises within 6-8 months. Liquidation may be initiated by a decision of its members or by court order. The procedure requires the elimination of impeccable accounting records, as well as in applying for the elimination of almost surely (as practice shows) will be assigned a tax audit for the entire period of the enterprise. All transactions must be completed and documents are in compliance with a lawful manner. The enterprise shall not bear any debts, including utility payments and settlements with the funds. All loans issued to enterprises, should
