September 24, 2017
THANKS, UR:
Russia to Bail Out Second Major Bank in Month as Troubles Spread (Jake Rudnitsky, Olga Tanas, and Anna Baraulina, 9/24/17, Bloomberg)
Russia's central bank agreed to bail out B&N Bank, one of the top five closely held lenders, as the second major rescue in less than a month stokes concerns of a wider crisis.The Bank of Russia will provide B&N with funds to bolster its liquidity after the lender asked for the help, the regulator said in a statement Wednesday. Last month it took over Bank Otkritie FC following a run on deposits.The move highlights the complications accompanying the Bank of Russia's efforts to clean up the financial sector after the dual economic shocks of a collapse in oil prices and international sanctions in 2014.
Folks who question why Vlad was so frantic to help Donald--who was promising to lift the sanctions--are unserious.
Posted by Orrin Judd at September 24, 2017 7:33 AM