Moscow Reassures Germans on Banks

FRANKFURT - Moscow has assured Germany's largest bank that two key Soviet financial institutions - the foreign trade bank and the central bank - will remain as the West's negotiating partners, a Deutsche Bank spokesman said.

The spokesman said a Soviet delegation led by Alexander Yakovlev, an aide to Soviet leader Mikhail Gorbachev, had met Deutsche Bank's chief executive Hilmar Kopper on Tuesday.

The Western banking community, and especially the heavily exposed German banks, have worried that any collapse of the two centralized financial institutions would create problems with repayment of the Soviet Union's debt.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.