Russia moves to broaden bank loans

MOSCOW, Oct. 3 (UPI) -- Russia's State Duma approved legislation Friday that would allow the county's central bank to extend unsecured loans to qualified banks.

The loans were available for up to six months, RIA Novosti news service reported.

The new measures are meant to supply liquidity to Russia's banks during the financial crisis that has reverberated throughout global markets. Russia's Central Bank will set terms and conditions for the loans, RIA Novosti reported.