11:44, 8 June 2009 Page views 218 views

President of Russia is Against Creation of “Bad Bank”

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Dmitry Medvedev, President of Russia, made a stand against creation of a “bad bank” dealing in “toxic” assets.

“I don’t think that the concentration of “toxic” assets in a “bad bank” is optimal for Russia today”, the President said at St. Petersburg International Economic Forum on June 5, 2009.

Mr. Medvedev stressed the necessity of cleaning Russian banks’ balances from “toxic” assets via strengthening their capital assets by investment of government funds and also by means of their borrowers’ support.

Russian News & Information Agency

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