Fin ministry: Russia may issue new mortgage securities in 2016

MOSCOW, May 18 (PRIME) -- Russia may issue new mortgage securities already in 2016, and the Agency for Housing Mortgage Lending (AIZhK) is capable to guarantee the issue of up to 1 trillion rubles of securities even without injections into its capital, Deputy Finance Minister Alexei Moiseyev told reporters Wednesday.

On Tuesday, President Vladimir Putin ordered the government to study a possibility to issue mortgage securities. First Deputy Prime Minister Igor Shuvalov said that the project of new securities has already been coordinated with the central bank.

“We would like to issue it this year,” Moiseyev said.

The issue of new securities will not need additional budget spending. “The AIZhK has excessive capital at this stage, and it does not use it at all…so we may say that the AIZhK may guarantee the issue of around 1 trillion rubles of securities taking into account its current capital,” he said.

(64.5138 rubles – U.S. $1)

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