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Duma passes another bill to prop up Russian banks
RBC, 03.10.2008, Moscow 15:41:19.The Russian State Duma has approved a bill allowing the Central Bank to provide additional financial support to Russian banks. According to the document, the Central Bank will be able to extend unsecured loans to Russian financial organizations rated by ratings agencies. The loans may be granted for up to six months on the terms set forth by the Central Bank's board of directors. The board will also set eligibility requirements for banks interested in such loans, including their minimum rating levels. According to existing law, the Central Bank can only extend secured loans.
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