Bank of Russia takes over major commercial bank
The Bank of Russia has taken control of major lender Bank Jugra, after it was deemed a “threat” to both its creditors and depositors.
A statement published by the central bank on July 10 says the Deposit Insurance Agency has been placed in charge of the institution, which is the thirtieth largest bank in Russia in terms of assets. The agency will now manage the bank for six months.
During this period, the powers of the shareholders and managing bodies in terms of authorising capital are
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Pandemic may have altered US credit score reporting – paper
Government support and spending changes improved many individuals' ratings, researchers find
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
Chinese police detain financial firm’s staff
Move came after property giant Evergrande’s financial arm missed payments for investment products
US ‘bitcoin ATM’ industry growing despite risks, research finds
Remittances are big driver of bitcoin-to-cash ATMs, but industry is predatory, paper warns
Hong Kong regulator moves against crypto exchange
SFC says JPEX is not regulated to trade in city as police arrest influencers linked to firm
Banks increasingly reliant on ‘flighty’ finance, BIS finds
Money market funds are taking on an even greater role as funding sources, research says
Aruba accuses Curaçao of regulatory failings
Spat between central banks comes amid ongoing problems with troubled insurer Ennia
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems