Russia prepares US$17b capital boost for banking sector

Moscow

RUSSIAN banks could get a capital boost of up to US$17 billion under a new law being prepared by the government to support a sector suffering from Western sanctions and an economic slowdown.

The potential capital boost comes after the central bank on Wednesday eased regulation for the financial sector which is reeling from a sharp slide in the rouble, down some 45 per cent against the dollar this year.