Mon, 22 Dec, 2014 06:24:05 PM FTimes- Xinhua Report , Dec. 22  People walk past the central office of Trust Bank in central Moscow on December 22, 2014. Russia's central bank said it had placed the troubled Trust Bank under supervision and would bail it out with 30 billion rubles (430 million euros, $525 million) to avoid bankruptcy. Photo AFP-Lehtikuva. The Central Bank (CB) of Russia on Monday decided to undertake rehabilitation of the National Bank Trust.
The CB would allocate 30 billion rubles (some 5.4 billion U.S. dollars) via the Deposit Insurance Agency (DIA) to bail the Trust out of possible bankruptcy, the CB press service said in a statement.
The DIA was appointed as a temporary administration of the Trust, the 15th largest bank in the country, while investment in the Trust would be assigned to one of Russia's major banks.
All these measures would allow the Trust to run business as usual, the CB said.
Earlier in the day, Prime Minister Dmitry Medvedev called a meeting with the heads of the largest banks and ministers from financial and economic sectors, discussing the urgent measures to stabilize the country's financial sphere.
Medvedev stressed that the CB and government are ready to take necessary organizational and regulatory measures in the banking sector, adding that the banking system should remain stable throughout the upcoming 10-day New Year holiday.
The TASS news agency quoted Finance Minister Anton Siluanov as saying Friday that a sum of one trillion rubles (18 billion U.S. dollars) would be provided to enlarge banks' capital in order to meet the banks' requirements in any circumstances.
More News
|
|
Finland Times
| Sunday, 28 April, 2024 |
|
Copyright © 2024 All rights reserved
|
||||
