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Bank of Russia given green light to participate in stock trading
RBC, 23.10.2008, Moscow 17:06:12.The State Duma has given a third reading to the bill enabling the Central Bank to participate in stock trading on the open market. The bill also expands the range of transactions the Bank of Russia may carry out on the open market to include purchasing and selling of government securities and the bank's bonds, as well as other securities the bank's board of directors may decide upon, if these securities have been admitted to trade by stock exchanges and other organizers of trade. In addition, the Bank of Russia may buy and sell shares provided that a reverse deal will be carried out later, and sell shares if a counterparty defaults on its commitment to carry out a reverse deal. The bill also sets information disclosure requirements for the bank's stock market operations.
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