Russian governor accuses failed bank owners of dishonesty

Owners of systemically important bank manipulated bond market, Elvira Nabiullina says

Elvira Nabiullina 2
Elvira Nabiullina
Photo: Ekaterina Shtukina/Kremlin.ru/Wikimedia Commons

Russia’s central bank governor has accused the owners of a systemically important bank taken over last month of manipulating the country’s bond market to exaggerate the worth of their assets.

Elvira Nabiullina also attacked the owner of another failed bank and said the central bank was reviewing the capital quality of the country’s largest banks.

Systemically important Otkritie Bank had manipulated the market price of Russian Eurobonds, which formed a large part of its assets, Nabiullina said

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