Licenses of failed banks should be nullified with caution – Putin

Russian President Vladimir Putin said during his live Q&A show that licenses of failed financial structures had been nullified before to stimulate the Russian financial system. He noted that nullification of their licenses should be done very carefully.The Central Bank should conduct the process with account of interests of banks’ clients, the president went on. Putin added that a decision on loans at the Bank of Russia was made for five years, making insurances more reliable.

Russian President Vladimir Putin said during his live Q&A show that licenses of failed financial structures had been nullified before to stimulate the Russian financial system. He noted that nullification of their licenses should be done very carefully.

The Central Bank should conduct the process with account of interests of banks’ clients, the president went on. Putin added that a decision on loans at the Bank of Russia was made for five years, making insurances more reliable.