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Wednesday, December 17, 2008

CBR limits banks’ access to unsecured loans.


Source: IntelliNews - Russia Today




CBR limits banks’ access to unsecured loans. As reported by the Cbonds agency, CBR limited the access to the unsecured loans for the banks that transferred state support received previously abroad. To remind, on several occasions government officials and PM Vladimir Putin warned that the funds that are being granted for curing the effects of the global financial crisis should not flow out of the domestic economy. According to Cbonds, at the auction of RUB 325bn of unsecured funds that took place on Dec 15 34 out of 136 banks that are eligible for the auction had their limits decreased. CBR attributed the decision to cut the auction limits for these banks to not “following the recommendations and increasing foreign assets”.







 
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