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VCSC Daily - Markets down despite SBV effort for a more transparent banking system

SBV wants banking system to be more transparent The SBV issued Circular 35/2011 which will be effective on April 1st 2012 and shows that the central bank is aiming to be more transparent. We believe that the issuance of Circular 35/2011 is a move in the right direction towards restructuring the banking system.