Bank Menatep

Bank Menatep

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Bank Menatep was a US$29 billion holding company created by Mikhail Khodorkovsky, that had indirect controlling interest in Yukos Oil Company. It was involved in the US$4.8 billion diversion of International Monetary Fund funds. The bank's financial condition was seriously damaged during the 1998 financial crisis due to a requirement by the Russian Central Bank that all commercial banks keep an economically untenable proportion of their reserve requirements in Russian treasury bills known as GKO, which subsequently collapsed, causing a default which led to the crisis and Bank Menatep's bankruptcy. The Central Bank revoked Menatep's licence in May 1999. However, according to Ernest Backes, former #3 of Clearstream, a clearing-house which has been qualified as a "bank of banks," Menatep maintained an unpublished secret account at Clearstream until at least 2000show more

Product details

  • Paperback | 76 pages
  • 152 x 229 x 5mm | 122g
  • Fec Publishing
  • United States
  • English
  • 6136613344
  • 9786136613345