What’s Left of Russian Liquidated Banks

…can be found at https://www.torgiasv.ru/, the specialized site managed by the state Deposit Insurance Agency for the purpose of auctioning off what’s left of Russian failed banks. Slon.ru reports that the Russian Central Bank closed almost one in three banks in Russia since Mrs. Elvira Nabiulina took over its helm. The state Deposit Insurance Agency is tasked with mopping up and currently oversees the liquidation of 287 banks with total assets of approximately three billion rubles (USD 47.4 million), as well as 34 private pension funds.
Assets belonging to failed banks consist mostly of their credit portfolio (64% of the assets), but as these loans can rarely be retrieved, the remaining 36% of the assets are far more interesting: office furniture, IT equipment, appliances, luxury items, art, etc. According to the Deposit Insurance Agency, some of the banks left behind such improbable artifacts as aquarium with a shark, Aivazovsky’s painting or tens of thousands of Russia’s trademark valenki boots. Total estimated value of items offered for sale through the Agency’s auctioning platform is between 100-180 billion rubles (USD 1.6- 2.84 billion).
Registration on the site is free of charge, but a 10% deposit of a lot’s initial value is required to participate in the respective auction.

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