Russia’s central bank has closed down two more small banks, it announced today (December 4).
The Bank of Russia’s statements on both banks plainly alleged wrongdoing by their owners – a common feature of the central bank’s announcements on closing smaller institutions.
Governor Elvira Nabiullina nonetheless struck a confident note when addressing the country’s Duma, or parliament, on November 22, saying the Bank of Russia will allow smaller banks to operate with a simplified, “basic licence” f
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