Russian President Vladimir Putin signed a law that allows to allocate up to a trillion rubles on the recapitalization of banks. For additional capitalization will be entitled to any bank, but to the amount of its capital stock.
Russian President Vladimir Putin signed a federal law “On Amending Article 23 of the Federal Law” On the Federal Budget for 2014 and the planning period of 2015 and 2016. The document was adopted by the State Duma on December 19 and approved by the Federation Council on December 25.
The law, in particular, provides for the right of the government in the implementation of the budget in 2014 to carry out in order to increase the capitalization of Russian banks’ asset contribution to the assets of “Insurance Agency deposits “(DIA) of up to a trillion rubles by transferring federal bonds. For additional capitalization will be entitled to any bank, but to the amount of its capital stock, TASS.
The senators recommended that the Board of Directors DIA equitable access of banks to allocate funds , as well as to take into account the reputation of and the nature of the activities of credit institutions in recent months. According to them, do not give money to those who speculate and put pressure on the Russian ruble.
Earlier, the Chairman of the Accounting Chamber Tatyana Golikova stated that the agency intends to monitor the use of funds granted for the recapitalization of banks. As noted by the Finance Minister Anton Siluanov, recapitalization of banks through the OFZ will provide an opportunity to increase the capital of the banking system by 13%, and loans – 15-20%. Gains from DIA OFZ will be fully addressed in the budget.
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