Nabiullina: Russia to bail out only systemically important banks in future

Russia's central bank will use its bailout mechanism only for large, systematically or regionally important banks in the future, Central Bank Governor Elvira Nabiullina said.

"The bailouts helped us protect millions of people, 8 million retail clients of these banks, and hundreds of thousands, or 563,000, companies," she said.

"I want to say that in the future we will use the mechanism rarely and only for large banks which are systemically important for the federal and regional markets," Prime agency cited Nabiullina as saying.