Russian central bank acts to save systemically important bank
Bank of Russia appoints administrators to country’s eighth-largest commercial bank
Russia’s central bank is recapitalising the country’s eighth-largest bank to keep it from failure, it announced today (August 29). This is the first time that the Bank of Russia has intervened in one of the banks it deems “systemically important”.
The central bank has appointed a temporary administration regime for Otkritie Bank, it says in a statement released in Russian, and the central bank has also become the main investor in the institution.
Otkritie Bank is a systemically important
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