A Russian friend once told me a joke she heard in Moscow in the early 90s. Most of the jokes she told me do not translate very well, but this one does, I think.
A man goes into a bank and says to the teller, “I would like to open an account. Who should I see?”
“A psychiatrist.”
Russian Banking System Teetering, Accelerated Withdrawals Underway
Globex on Wednesday banned depositors from withdrawing their money as confidence in the Russian banking system began to show signs of evaporating.
Globex, a mid-sized retail bank with assets of $4bn (€2.95bn, £2.32bn), is the first Russian bank to experience a run on deposits during the crisis. It lost 13 per cent of its deposits last month, according to Maxim Raskosnov, an analyst at Renaissance capital, and a further 15 per cent this month according to Emilya Alieva, Globex’s vice-president.
At least a dozen other Russian banks have reported a sharp rise in withdrawals and account closures.
Seems a story worth following.
Leave a Reply
You must be logged in to post a comment.