Article Summary
In August 2017, the Central Bank of Russia (CBR) announced plans to bail out Otkritie, the country's seventh-largest bank, raising fears of a nationwide crisis in the banking sector. Otkritie Bank had grown rapidly in recent years, with the acquisitions of smaller banks, non-pension funds, insurers, and even a diamond business, prompting the CBRs first deputy chairman to refer to the bank's business practices as "questionable". While not stating a specific amount to be spent on the bailout, the CBR did say it planned to take a minimum 75 percent stake in the bank.

-Refer to the Article Summary. The CBR announced in August 2017 its intention to bail out Otkritie Bank, Russia's seventh-largest bank. In bailing out this bank, the CBR was, in effect, acting as a

Question

Article Summary
In August 2017, the Central Bank of Russia (CBR) announced plans to bail out Otkritie, the country's seventh-largest bank, raising fears of a nationwide crisis in the banking sector. Otkritie Bank had grown rapidly in recent years, with the acquisitions of smaller banks, non-pension funds, insurers, and even a diamond business, prompting the CBRs first deputy chairman to refer to the bank's business practices as "questionable".  While not stating a specific amount to be spent on the bailout, the CBR did say it planned to take a minimum 75 percent stake in the bank.

-Refer to the Article Summary. The CBR announced in August 2017 its intention to bail out Otkritie Bank, Russia's seventh-largest bank. In bailing out this bank, the CBR was, in effect, acting as a

Quizplus · Accepted Answer

The Central Bank of Russia acted as a lender of last resort by planning to bail out Otkritie Bank, providing financial support to prevent its failure and stabilize the banking sector.

Article Summary In August 2017, the Central Bank of Russia (CBR) Announced