Bank of Russia provides emergency liquidity to large commercial bank
Assistance to B&N Bank follows failure of country’s eighth-largest bank last month
Russia’s central bank is providing emergency liquidity to another large commercial bank, in a sign that instability may be spreading in the country’s banking sector.
The Bank of Russia issued a one-sentence statement today (September 20), saying it had “decided to provide funds to sustain liquidity to B&N Bank”, at the commercial bank’s request. Locally based reporters said B&N is the country’s twelfth-largest bank by asset size, and is owned by Mikhail Gutseriev, through a company called
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