Russia lends banks $37bn to stem crisis

Russia said on the 7 October 2008 it would pump $37bn in long-term subordinated loans into state-controlled banks in a new measure to fight off a deepening financial crisis that has seen the steepest losses ever on the Russian stock exchange.

ESO: Background information: Banking: Financial sector taken by surprise as credit crisis hits http://www.europeansources.info/record/banking-financial-sector-taken-by-surprise-as-credit-crisis-hits/

ESO: Background information: Moscow facing lending crisis http://www.europeansources.info/record/moscow-facing-lending-crisis/

Russia Today, 7.10.08: Russian banks get $36 BLN shot in the arm http://rt.com/news/

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