New deadline set for the second wave of the ‘toxic bank loans and assets’ crisis

The second wave of the banking crisis caused by the so-called ‘toxic debts’ could occur in late autumn or by yearend, Deposit Insurance Agency CEO Alexander  Turbanov has said. “Our previous forecasts that the second wave of the ‘bad debts’ crisis would occur in spring did not materialize, but such danger still remains.”

Turbanov, however, noted that he also does not exclude the fact that those, who think otherwise, might be right. “But I remain convinced that we need to be ready for the second wave of crisis by having emergency plans in place.”