Russia rushes through bank recapitalisation bill
Central bank is focused on avoiding a rouble liquidity crisis
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Moscow
A BILL authorising a one trillion rouble (S$22.1 billion) recapitalisation of banks was rushed through Russia's Lower House of Parliament.
Legislators in the State Duma approved the bill in all three readings on Friday, allowing the Finance Ministry to issue new OFZ bonds that will be exchanged for subordinated bonds of recapitalised banks.
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