Sky News understands that the British banking regulators have hired consultants to help deal with the disclosure of VTB Capital’s operations in the city. Banking sources said that VTB Capital could go through a special management or liquidation process just this week. Use the Chrome browser for a more accessible video player 0:59 Sanctions can only be lifted if Russia withdraws Bankruptcy professionals are believed to have lined up to handle the process, industry sources added. His possible collapse is hastened by a decision of the clearing banks, including HSBC, to stop dealing with him after the measures taken by the Office of Financial Sanctions Implementation, a department of the Ministry of Finance. Reports in recent weeks have suggested that VTB Capital in London had already been laid off, with many of its employees being laid off. If an insolvency of VTB Capital arm in London does occur, it would be the most significant collapse that has affected the City since the Russian-Ukrainian war, although its failure would not have had a significant impact on the UK financial system. . A smaller stockbroker, Sova Capital, collapsed earlier this month after failing to gain access to a capital injection from shareholders. Bloomberg News reported Wednesday that VTB Capital’s broader European operations are available for sale – a plan he said had the backing of banking regulators in Germany. VTB did not respond to a request for comment by email. The Precautionary Regulatory Authority, which regulates banks and is based in the Bank of England, declined to comment, while the Financial Conduct Authority confirmed that it had partnered with the company, but declined to comment further. HSBC declined to comment.
