Russian Central Bank Tightens Control
The Russian Central Bank has recently enforced stricter daily bank supervision that will keep real financial conditions concealed from regulators, reports The Moscow Times. Banks that do not adhere to the new regulations will face consequences such as having their banking license suspended. The recommendation document will be published by next week and expect banks to adapt shortly after. The Central Bank has implanted this regulation in attempt to save financial institutions in Russia from falling apart.
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