Abstract
This year, the Russian banking system turned five years old. The foundation for its formation was laid by the August 17, 1990, order of the chairman of the board of the RSFSR State Bank that transformed Administrations [Upravleniia] of the USSR State Bank [Gosbank] into Administrations of the RSFSR State Bank. Many problems were overcome in the years that elapsed. Reciprocal nonpayments, the "gold fever" of easy money, "Black Tuesday," and many other problems were left behind. And despite everything, the Russian banking system not only stood its ground but grew even stronger. With over 2,500 commercial banks registered in Russia at the end of September, it is just as difficult to compare its present might with the situation in 1991 as it is to look at a tiny river in the Urals and see the vastness of the Volga in the Samara region.
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