Report: Regulator to write off Otkritie's subordinated debt

Author/Creator

Beata Fojcik

Publisher

SNL European Financials Daily

Media Date

9-28-2017

Media Type

Document

Content Type

News Article

Country/Region

Russia

Language

English

Crisis

Russian Private-Banking Crisis (2017)

Case Series

Ad hoc Capital Injection

Intervention

Ad hoc Capital Injection

Additional Information

The Russian central bank plans to write off the entire subordinated debt of Otkritie Financial Corp. Bank or convert it into shares as part of the lender's recapitalization, Kommersant reported Sept. 27, citing the regulator's deputy head Vasily Pozdyshev. The matter will be considered during the meeting of Otkritie's shareholders to be held Oct. 30. The central bank moved to bail out Otkritie at the end of August, with the lender's capital needs estimated at between 250 billion Russian rubles and 400 billion rubles.

Recommended Citation

Fojcik, Beata, "Report: Regulator to write off Otkritie's subordinated debt" (2017). Documents. 2658.
https://elischolar.library.yale.edu/ypfs-documents2/2658