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Russian central bank places BFG-Credit Bank into provisional administration

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Russian central bank places BFG-Credit Bank into provisional administration

TheCentral Bank of the RussianFederation said April 12 that it placed underprovisional administration for a period of six months, suspending the powers ofthe lender's management bodies.

Themain task of the interim administration will be to determine the bank's"objective financial situation," the regulator said without providingfurther details.