Bank News

Executive Vice Chairman of the Managing Board made a report «Development of Securitization Mechanisms in Russia»

11 Сентября 2006

Svetlana Sagaidak, Executive Vice Chairman of the Managing Board made a report «Development of Securitization Mechanisms in Russia» at the round table within IV International Banking Forum "Russian Banks - XXI Century" in Sochi.

Svetlana Sagaidak has presented the securitization system developed by the bank - a process of transformation of financial assets into financial products, i.e. securities circulating at capital markets. While developing the above system the KfW practice of securitization in Germany was used. RBD participates in a working group organized by the State Duma of the Russian Federation per improvement of securitization legislation in Russia.

According to Svetlana Sagaidak RBD intends to implement the new system in Russia. Creating the securitization conditions will lead to financial markets development, reduction in interest rates for the end-borrowers, reallocation of risks in the banking sector and expansion of foreign investments in the economy. S. Sagaidak noted as well that organization of a platform for securitization will provide the banks with additional source of finances off-load their balances and enlarge possible funding areas.

On April 27, 2006 RBD entered into consultancy agreement with KfW.

OAO «Russian Bank for Development» (RBD) was established in 1999 pursuant to Decree of the Government of the Russian Federation No. 391-r dated March 10, 1999 and Federal Law "On the Federal Budget for 1999" as a national development bank. The Bank’s core business is to provide long-term loan based funding to projects in priority sectors of the national economy. It is 100% owned by the Government of the Russian Federation through the Russian Federal Property Fund. The Bank’s charter capital is RUR 4.66 billion. RBD was assigned the highest for the Russian banks international credit ratings - Standard & Poor's (BВВ, outlook stable) and Moody's Investors Service (Baa2, outlook stable).

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