Chairman of the Russian Banking Supervision Committee to resign: reports

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Gennady Melikyan, chairman of the Banking Supervision Committee at the Central Bank of Russia, has announced his intention to leave his role, according to local media reports.

On Thursday, the Moscow News, the country's oldest English-language newspaper, ran an article that said the "record breaking bail-outs for the Bank of Moscow have claimed their first big victim – Gennady Melikyan, head of the central bank's supervisory body, is resigning".

The $14 billion rescue package given to the Bank

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