Russian banks look to restructure debt

Article Abstract:

Several banks in Russia are negotiating to restructure their debts to foreign creditors after the termination of the 30-day moratorium that shielded them financially. The moratorium was intended to protect the banks from the requirement to repay billions of dollars in foreign debt and to help them recover from financial difficulties at the decline of the stock and bond markets. However, most Russian banks are still not financially viable to meet their foreign obligations and they are currently scrambling to create deals with creditors on $5 billion in loans and $3.5 billion or more in debts on currency-forward contracts.

Comment:

Russia: Several banks are negotiating to restructure debts to foreign creditors after termination of 30-day moratorium

Russia, Commercial banks, Article

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ECB roils market with Euro2.5 billion sale of foreign reserves

Article Abstract:

The article discusses the Euro2.5 billion worth of dollars and yen sale begun by the European Central Bank (ECB), an action that appeared geared towards intervention to financial markets, even though that was not supposed to be the motive.

European Union, Bank Reserves, Management, European Union. European Central Bank

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Barclays to push into India with 3 retail-bank branches

Article Abstract:

U.K.-based bank Barclays PLC will invest $70 mil to open three branches in Kanchipuram, Mumbai, and Nelamangalam, India. The move represents Barclay's first phase in its expansion plans for India.

Organizational history, India, United Kingdom, Company investment, Investments, Location, Barclays PLC

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