Russia: A Cash-Strapped Kremlin Bails Out the Country's Largest Lender

Russia's Central Bank announced on Aug. 29 that it plans to seize control of the country’s largest private lender -- Otkritie Bank -- before June. The bank has tottered toward collapse in recent months, following a surprise downgrade that prompted a massive deposit outflow of $7.4 billion in June and July -- nearly a quarter of its total deposits. Had Otkritie collapsed, it would have hurt Russia’s entire financial system....