YELTSIN SIGNS DECREE ON RUSSIAN BANK UNION.

Boris Yeltsin has signed a decree on the creation of a Russian financial and banking union which includes all credit and banking institutions which own shares of state capital. The decree stipulates that the union’s goal is to support the privatization of state and municipal enterprises, development in the regions, and domestic and foreign investment. At the same time, the government has issued a decree on the establishment of the All-Russian Regional Development Bank. The bank’s task will be to provide state guarantees on investment in the regions and to support presidential and federal programs. (6)

New Reshuffling at the FSB.