Publisher
Interfax-America, Inc.
Media Date
3-16-2018
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
MOSCOW. March 15 (Interfax) - The Central Bank of Russia (CBR) has approved a plan for its participation in measures to prevent the bankruptcy of Trust Bank and Rost Bank, with the regulator's Banking Sector Consolidation Fund (BSCF) appointed as the temporary administration at these banks as of Thursday. Both banks will be recapitalized in the near future, an Otkritie Bank Financial Corporation spokesman told Interfax, adding that the involvement of the BSCF implies the CBR will be leading the bailout process. Elsewhere, the CBR has revoked the licenses of Rostov-based Credit Express Bank and Belgorod-based Velton Bank. In the Russian banking sector as a whole, the money provided bail out B&N Bank resulted in a small inflow of liquidity in the first half of March, the CBR said. Meanwhile, the cost of the bailout of Peresvet Bank could reach 99.8 billion rubles, far more than the figure that the CBR initially gave, the Deposit Insurance Agency's (DIA) annual report shows. Trust, Rost
Recommended Citation
Interfax, "TOP NEWS; CBR approves plan for its participation in Trust Bank, Rost Bank bailouts" (2018). Documents. 2663.
https://elischolar.library.yale.edu/ypfs-documents2/2663