Top banker blasts Russian bank reform blueprint

RUSSIA - Central Bank head Viktor Gerashchenko criticised a blueprint for banking reform, saying in a letter to Finance Minister Alexei Kudrin that plans to divide banks into three tiers could damage the stability of the entire sector.

The reform plan was drawn up by Alexander Mamut, chairman of MDM Bank's supervisory board, under the aegis of the Union of Industrialists and Entrepreneurs.

The bulk of the letter, dated 15 August, was devoted to criticism of Mamut's plan to split the sector into

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