{"id":122283,"date":"2011-08-30T12:06:41","date_gmt":"2011-08-30T07:06:41","guid":{"rendered":"http:\/\/www.epress.am\/?p=122283"},"modified":"2011-08-30T12:06:41","modified_gmt":"2011-08-30T07:06:41","slug":"russia-central-bank-first-deputy-chair-gennady-melikyans-resignation-now-official","status":"publish","type":"post","link":"https:\/\/epress.am\/en\/2011\/08\/30\/russia-central-bank-first-deputy-chair-gennady-melikyans-resignation-now-official.html","title":{"rendered":"Russia Central Bank First Deputy Chair Gennady Melikyan’s Resignation Now Official"},"content":{"rendered":"

The head of banking oversight at Russia’s central bank, Gennady Melikyan<\/strong><\/span><\/a>, who prior to going on holiday until Aug. 25 made his resignation public, officially resigned after returning to work briefly.<\/p>\n

Melikyan made his resignation public a month after the bank approved a record bailout of Bank of Moscow, a banking source told Reuters<\/span><\/strong><\/a> early this month.<\/p>\n

“It (the resignation) is likely to be linked to the Bank of Moscow (bailout approval) because Melikyan was in charge of supervision,” said Rustam Botashev, an analyst at Unicredit Securities.<\/p>\n

The $14 billion bailout of Bank of Moscow, including a 295 billion rouble ($10.5 billion) central bank loan, was agreed when state bank VTB’s hostile takeover bid revealed a gaping hole in its books.<\/p>\n

The bailout was equal to about 1 percent of Russia’s gross domestic product, the highest amount paid in Russia to shore up a bank.<\/p>\n

Bank of Moscow’s former head, Andrei Borodin, has left Russia after selling his and his ally’s stake for about $1.1 billion. Borodin is wanted on an international arrest warrant and denies any wrongdoing.<\/p>\n

Melikyan joined the Central Bank in 2003, leaving Sberbank as its vice-president. In 2006, Andrei Kozlov, the Central Bank\u2019s first vice-president, was murdered and Melikyan replaced him on the supervisory committee, thus launching his watchdog career forward, reported The Moscow News<\/span><\/strong><\/a>.<\/p>\n

\u201cIt was a difficult time,\u201d a colleague of Kozlov and Melikyan told Vedomosti, \u201cAfter Andrei\u2019s death the motor broke down and Melikyan was a moral leader at that time, he could argue himself hoarse with the bank\u2019s opponents, even with people from state banks.\u201d<\/p>\n

Melikyan has said little about his departure, saying that it was time to go, \u201cas I have wanted to do for a long time,\u201d Vedomosti reported.<\/p>\n","protected":false},"excerpt":{"rendered":"

Melikyan made his resignation public a month after the bank approved a record bailout of Bank of Moscow…<\/p>\n","protected":false},"author":1,"featured_media":122221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tstyn_error":""},"categories":[10],"tags":[31243,31241,31240,31239,31242],"_links":{"self":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts\/122283"}],"collection":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/comments?post=122283"}],"version-history":[{"count":0,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts\/122283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/media\/122221"}],"wp:attachment":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/media?parent=122283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/categories?post=122283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/tags?post=122283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}