Russian central bank declares moratorium on bank's creditor payments

Bank of Russia
The Bank of Russia

Russia's central bank has declared a "three-month moratorium" on debts owed by a commercial bank largely owned by the Russian Orthodox Church, it announced on January 23.

Peresvet Bank was placed under provisional administration by the Bank of Russia on October 21, 2016 for a period of six months. The central bank said at the time that it was taking the action "in view of the bank's failure to satisfy creditors' monetary claims" within seven days of their being made.

The January 23 order on

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