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