Russia Central Bank May Be Able to Limit Deposit Rates, RIA Says

Russia’s government submitted a draft law to parliament that is supposed to grant the central bank the right to limit bank deposit interest rates, RIA Novosti said, citing the office of the lower chamber of parliament.

The draft law is expected to let the central bank appoint its representatives to Russia’s top 100 banks by amount of assets or deposits, the agency said.

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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