Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Bank Debt Talks

FRANKFURT, Germany -- Germany's largest commercial bank, Deutsche Bank, said Thursday it had been asked by the Russian Finance Ministry to head a committee of five foreign banks to help negotiate the restructuring of short-term ruble-denominated debt.

The committee "has been formed to facilitate discussions between the Russian government and foreign holders of ruble-denominated debt known as GKOs and OFZs, concerning a proposed restructuring of the GKOs and OFZs," Deutsche Bank said in a statement. The other members of the committee were not named.

Consultations between the Russian government and the domestic Russian GKO and OFZ holders were being pursued separately, the statement said.