The paper aims to make the first assessment of the impact that presence of foreigncontrolled banks have produced on the Russian economy and banking system. So far foreign banks have gained a modest market share in Russia with 7% of the combined assets of the banking system. They have made some...

State-controlled banks are currently at the core of financial intermediation in Russia. This paper aims to assess the magnitude of government banking, and to reveal some of its special features and arrangements. We distinguish between directly and indirectly state-controlled banks and construct...