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Inside Russia’s 96-Hour Cliffhanger to Sidestep Bond Default

  • JPMorgan and Citigroup processed sovereign debt coupon payment
  • Financial plumbing entered spotlight as Russian default feared
Bloomberg business news
Risk of Russian Default is High: IIF's Ribakova

It was perhaps the most widely-tracked coupon payment in history.  

After the Russian Finance Ministry on Monday sent an order initiating a $117 million payment due on dollar-denominated bonds this week, traders and money managers globally watched with bated breath as the money began to snake its way through the financial system.