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Fears of bank runs have escalated with the news that Russian lender ‘My Bank’ has banned all cash withdrawals until next week.
“Bloomberg reports that ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week. While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia. Russia sovereign CDS had recently weakened to 4-month wides at 192bps,” reports Zero Hedge. ...
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