The Bank of Russia’s PR Department reports their new authorized representatives were appointed in forty-eight Russian banks, including Yekaterinburg-based Bank Severnaya Kazna, Bank24.ru, and Bank Yekaterinburg. This was done in accordance with Article 76 of the Federal Bill on the Central Bank of the Russian Federation.

The Central Bank actually directs its executives to the banks that have earlier received some money from Foreign Trade Bank, the Bank of Russia, the Ministry of Finance, and the Deposit Insurance Agency State Corporation; these officials are supposed to monitor and supervise the recipient banks’ performance.

The original representative sent to Bank Yekaterinburg only went back as recently as July 2009 after the company had reportedly paid off its unsecured loans early.