Garegin Tosunyan, President, Association of Russian Banks

1955 - Born in Yerevan
1977 - Scientific researcher, All-Union Electro-Technical Institute
1988 - Joins chief board of science and technology, Moscow city executive committee
1989 - Graduates, Faculty of law, All-Union Judicial by-correspondence-Institute, Moscow
1990 - Founder and Head, Technobank
1991 - Vice president, Association of Russian banks
1992 - Graduates, Academy of national economy, Moscow
1992 - Co-founder and Head, Inter-bank Financial House
1994 - First vice president, Association of Russian banks
1994 - Organiser, Centre of scientific research, Inter-bank Financial House
1997 - Adviser to mayor of Moscow on credit financial issues
1997 - Founder and Head, Banking law sector, Institute of State and Law, Russian Academy of Sciences
1998 - Chief, Council of authorised banks, Moscow government
1999 - Adviser to chairman of the Russian government on credit financial issues
1999 - Vice chairman, expert council, State Duma committee on credit organisations and financial markets
2001 - President, Sssociation of banks of Central Russia
2002 - President, Association of Russian banks

Today we are talking about the Russian banking system. The American credit crunch, provoked by the mortgage crisis in the U.S., affected Europe. The Russian public, traumatized by the 1998 default experience, is very sensitive to ramifications of the crisis in Russia. Is there a banking crisis in Russia? To answer this question, our guest today President of the Association of Russian Banks, Mr. Garegin Tosunyan.