Global Banking Directory 2.0
Press Release Distribution Service
Add Bank | Banking Forum Online
BankDEP Crypto Bank
BanksDaily on Twitter BanksDaily on LinkedIn BanksDaily on Instagram

Financial and Banking News

Banks may lose licenses if interest rates remain high

Licenses of Russian banks, which have been bailed out by the government but are now reluctant to cut down interest rates for the real sector, may be revoked, Chairman of the Russian Audit Chamber Sergei Stepashin announced at a regional meeting of heads of audit agencies of the Siberian Federal District.

"All we actually need is to revoke the licenses of a couple of banks, and it will provide an impetus to the rest," Stepashin warned. Yet he noted that this was not an attempt to bully the banks, adding that it was high time they started to act fairly. Stepashin reiterated that the government had forked out nearly RUB 5 trillion (approx. $170.3bn) in taxpayer money to support the banking sector.

Additionally, inflation had slowed considerably over the past months, which permitted the Bank of Russia to slash the discount rate to 10 percent. Nevertheless, the interest rates for the real sector charged by commercial banks have remained high, Stepashin observed.

The regulator's chief also stated that his employees would launch an overhaul of how commercial banks had been using the government’s money and whether “they had honored their commitments."

Earlier, the Deposit Insurance Agency stated that the banks were no longer entitled to any government aid, and rehabilitation would only be undertaken on a selective basis.

Source: RosBusinessConsulting
Date: 21.10.2009 [237]
Get your content published on in just a few clicks.

Financial and Banking News
 Post-Pandemic Economic Recovery: Key Factors Driving Growth and Stability

The COVID-19 pandemic caused a global economic halt, resulting in disruption, job losses, and uncertainty. However, as vaccination efforts progress and countries adjust to the new normal, there is hope for an economic recovery.

 Wiki Finance Expo Sydney 2023 Is Coming Soon!

Regulation, Forex, Crypto, Web 3.0, Metaverse, AI, ESG Will Be in Focus. Taking place on November 16th, Wiki Finance Expo, Sydney 2023 is Aussie largest and most anticipated fintech event of the year. 30.10.2023 | Source: WikiExpo

 Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

Dubai, UAE - The Blockchain Economy Dubai Summit is generating palpable excitement within the blockchain and crypto communities, with only two weeks remaining until the event. Scheduled for October 4-5, 2023, at the Le Meridien Dubai Hotel & Conference Center, this prestigious event gathers over 3,000 blockchain entrepreneurs, crypto enthusiasts, and industry leaders from 85 countries. 20.09.2023 | Source: Teklip

 📰 News Archive

2007-2024 © | All Banks in One Place | Privacy Policy