Russian President Vladimir Putin yesterday signed into law a retail deposit insurance bill that will ensure Russian depositors are compensated up to Roubles 100,000 (US$3,400) for any losses when a bank collapses. Coupled with a move to allow the Russian central bank to screen the 1,300 private banks in the country for faulty risk management procedures, the new legislation is expected to spark a consolidation of the retail banking sector.
Russian Deposit Insurance Law Expected To Spark Consolidation Of Banking Sector
Russian President Vladimir Putin yesterday signed into law a retail deposit insurance bill that will ensure Russian depositors are compensated up to Roubles 100,000 (US$3,400) for any losses when a bank collapses. Coupled with a move to allow the Russian
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