A license is revoked for material violations: loss of stability and inability to fulfill obligations, non-compliance with standards, inaccurate reporting, violation of legal requirements. The decision is made by the authorized body, and it means the cessation of banking operations.
After revocation, a liquidation procedure is initiated: a register of creditor claims is compiled, assets are realized, and funds are distributed in the established order. The process takes considerable time, and the extent to which claims are satisfied depends on the quality of remaining assets.
For individual depositors, a guarantee system applies: compensation is paid by the fund within established limits, regardless of the liquidation process. For other creditors, as well as for amounts exceeding the guaranteed limit, repayment is determined by priority order and the results of the procedure.
An important caveat: the guarantee does not cover brokerage accounts and securities investments. However, securities themselves are recorded in the depository and remain the property of the investor, so their fate is not related to liquidation—they are subject to transfer to another participant.