When establishing JSCB AKB Pegas, on the basis of a license from the Central Bank of the Russian Federation (Bank of Russia), it determined the authorized capital and the ratio of the required reserves deposited with the Bank of Russia. Bank Pegas has not fully complied with the reserve requirement, citing the fact that for some banks these standards were lower. The Bank of Russia, in an indisputable manner, charged back withdrew funds to CJSC AKB Pegas and also imposed penalties on it in the amount of 2% of the paid-up share capital. The Board of Directors of JSCB AKB Pegasas appealed against the actions of the Bank of Russia to the Supreme Arbitration Court of the Russian Federation.
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