SAVINGS BANK WON’T PRIVATIZE UNTIL 2000–AND THAT MAY BE A GOOD THING.

Segodnya reported June 1 that Moscow is unlikely to privatize the Russian Savings Bank until the year 2000, and a report in Moskovskie novosti (no. 38) suggests why that delay may be necessary. The Moscow weekly carried an interview that the president of the Stolichny Savings Bank had given to a Swiss magazine. A. Smolensky told the Swiss that Russian banks had “nothing” to learn from the Swiss and that, in fact, “no genuine banking business exists in Switzerland.” Meanwhile, Segodnya reported June 3 that Tatyana Paramonova is likely to be confirmed by the Duma June 9 as director of the Central Bank of Russia.

Baltic Ships Participate in NATO Maneuver.