ANDREI KOZLOV JOINED the Central Bank of Russia in March this year as its deputy chairman and is spearheading the drive to reform Russia’s ailing banking sector. Euromoney met him last month to discuss the central bank’s latest initiatives, including the controversial new deposit insurance scheme. Although this may bring stability to the banking system, the fear is that unless it is accompanied by tougher regulation it could create moral hazard: banks might be encouraged to take big risks confident that the fund will bail them out if they fail.
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