USSR-POLAND: Soviet Banking Tactics
Moscow in late December reportedly instructed Soviet-owned banks chartered abroad to createreserve accounts to guardossible Polish default. The Poles owed these banks more0 million by midyear, but the Foreign Trade Bank of the USSR apparently assumed moreillion of this debt during the fall.
Comment: While the reported instruction may simply reflect concern over Western regulatory requirements, it also suggests Soviet pessimism about Poland's ability to resolve its financial problems. The Foreign Trade Bank's apparent assumption of roost of the Polish debt owed to these Soviet-owned banks puts themtronuer position toossible Polish default.
Read more: http://www.faqs.org/cia/docs/33/0000237153/USSR-POLAND:-SOVIET-BANKING-TACTICS.html#ixzz0aFFYRWPc
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