Russia is considering a banking bail-out that would go further than measures taken by the US, as fears grow that bad loans could paralyse the economy.
Igor Shuvalov, deputy prime minister, will consider taking stakes in troubled banks when a group of experts on the crisis meets today to discuss ways to recapitalise the country's banking system, according to a draft proposal seen by the Financial Times.
The proposal, one of several under consideration, would see the government issue OFZ treasury bills, a type of bond, to boost the balance sheets of the biggest banks. In returnthe state would receive preferred shares. Unlike the US bank bail-out, the Russian scheme would see the government take board seats and have veto rights.