4 Sep 2009 12:00

Deposit Insurance Agency provided 250 bln rubles for bank rescues since crisis onset

SOCHI. Sept 4 (Interfax) - The Russian Deposit Insurance Agency (ASV) has provided 250 billion rubles to troubled banks since the onset of the global financial crisis, ASV General Director Alexander Turbanov said at a banking forum in Sochi on Friday.

That total includes 130 billion rubles in loans from the Central Bank and roughly 120 billion rubles in federal budget funds.

The ASV expects that the money will be recovered in three-five years. "The repayment of those funds is maximally secured by collateral," he said.