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Russian Banks Foreclose on Pigs, Lingerie

As defaults soar, banks stuck with weird collateral

By Jason Farago, Newser Staff

Posted Oct 26, 2009 6:21 AM CDT

(Newser) – With loan defaults soaring, Russia’s banks have had to seize a lot of collateral lately—and we’re not talking about houses. By year’s end, 20% of Russian loans could be non-performing, by Moody’s estimate. In order to recoup those losses, the... Read full story »

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Russian Banks Foreclose on Pigs, Lingerie

As defaults soar, banks stuck with weird collateral

Russia • bank • credit market • banking • collateral • financial crisis

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More Newser Stories

Just Like Mattress-Stuffers, Banks Hoard Bailout Cash

Recovery a long way off

Some Banks Want to Bail on Bailout

Critics charge growing list of conditions will damage industry

Federal Cash Is Not Welcome at Small Banks

But US will pressure some to accept it anyway

Credit Chill Spreads to Russia

Georgian war spooked foreign investment, destabilized economy

Rumors Spark Wild Run on Asian Bank

Panicked thousands rush to grab savings from Bank of East Asia

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