Meltdown in Russia

Article Abstract:

Russia faces a drop in the value of the ruble, and Russia's problems have not been eased by the appointment of Viktor Chernomyrdin as prime minister. Most Russian savings are held in Sberbank, which has had to restrict withdrawals. There have been proposals to shut down some banks to help preserve the good banks, but the central bank may not have enough resources to deal with the 15 major banks most in need of aid. There would be politicial risks involved in selling banks to foreign concerns. Tax collection is also a problem, with richer companies reluctant to pay, and foreign companies the easiest to target, hindering inward investment.

Political activity, Russia, Chernomyrdin, Viktor

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Softly, softly

Article Abstract:

Japanese bank lending in Asia has fallen, though this process appears to have started to reverse, with a government decision to provide new capital to Japanese lenders. The number of banks operating in the Asian syndicated loan market has been reduced, and loans have been traded like bonds, following the sale of loans by Japanese banks. Japanese banks are lending on a sounder basis, but their international ambitions have been scaled down, and the better quality staff tend to stay in Japan.

Japan, Asia, Syndicates (Finance)

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Something nasty in the vault? Swiss banking secrecy

Article Abstract:

Swiss banks are finally allowing an independent inquiry into accusations by the World Jewish Congress that they are holding billions of dollars in accounts left by Jews killed in the Holocaust. The independent commission will search for money deposited by Jews who felt Switzerland was a safe haven.

Finance, Investigations, Holocaust, Jewish (1939-1945), Jews, European, European Jews

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