MOSCOW, Sept 21 (Reuters) - Russia’s central bank said on Thursday it had agreed to a rescue of troubled lender B&N Bank which will involve the regulator becoming the main investor in B&N Bank and its affiliated banks, and providing financial support.
In a statement, the central bank said there would be no requirement for a bail-in, and no moratorium on creditors’ claims.
The central bank will use money from its Fund for the Consolidation of the Banking Sector to improve B&N Bank’s financial stability, the statement said.
It said the central bank will work with existing shareholders and management, and that the bank would continue meeting its obligations. (Reporting by Polina Devitt; Writing by Christian Lowe; editing by Polina Devitt)