Russian banking system promised $15bn safety net by Medvedev

Dmitry Medvedev Russian Prime Minister

Russian Prime Minister Dmitry Medvedev

Russian banking system:  Russia’s Prime Minister Dmitri Medvedev has pledged to give the country’s banks RUB1 trillion (almost $15bn) to help them cope with the fallout from the substantial drop in oil prices and the resulting decline of the rouble.
The funds are to be channelled through the Contribution Insurance Agency that guarantees returns to deposit holders, and will only be made available to banks with a minimum capital of RUB2bn. rbth