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. Last Updated: 07/27/2016

Crisis Costs Banks

MOSCOW -- The recent world stock market crisis cost Russian banks trading in government debt to the London Club up to dollars 300 million, the deputy chairman of the Central Bank said Thursday.

Denis Kiselyov said the banks had bought the debt, converted into bonds, when it looked set to gain in value, before markets were plunged into turmoil in late October, Interfax reported. He stressed, however, that the banks were meeting all their commitments