Banks have brought under defaultsAt refinancing of banks of the Central Bank will accept in maintenance not only actions and bonds of the backbone enterprises, but also their bills and credits. The new list of Bank of Russia included the enterprises which have admitted technical defaults.
yesterday in “ the Bulletin of Bank of Russia “ the list from 116 companies, bills and which credits banks can give as a deposit at refinancing in the Central Bank has been published. All these enterprises concern to backbone which number makes 295. The decision on expansion of the pawn list at the expense of actions and promissory notes of such companies of the Central Bank has accepted on February, 9th. Senator Gleb Fetisov then has informed that the pawn list will be added by bonds of 110 Russian enterprises (see “ “ from February, 10th), and on February, 11th the Central Bank has published the list from 15 backbone companies, whose actions can be put in the Central Bank.
Now banks can receive refinancing in the Central Bank on the security of bills and credit requirements of 53 companies, and in the end of January of the Central Bank has included in the list of the actives accepted in maintenance, similar obligations of small enterprises (see “ “ from January, 29th). “ the Central Bank more than has twice increased the list of the enterprises as bills and credits are now interesting as the tool to refinancing “ - the analyst of debt markets BK " considers; Region “ Alexander Ermak. It reminds that bill cost is equal to cost of its purchase whereas the price of bonds and actions is defined by the market. So, at credit reception in the Central Bank under the bill for the term up to three months the rate makes 12 %, for the term from three about six months - 12,5 %, from six months about one year - 13 %. Refinancing in the Central Bank under bonds for short term - about one month - will manage in 12 %. However, on the security of bills the bank can receive the sum equal of 80 % of its cost, and the maximum limit under the bonds, the established Central Bank, makes 90 %. “ As to credits, their refinancing of the Central Bank - the most simple way to finish money to real sector. It will be easier to bank to give out the company credit if then it can put in the Central Bank the requirement on it and receive financing “ - the head of department of trade, sales and researches in the debt market " considers; Brokerkreditservis “ Arthur Arakeljan.
it is curious that in the Central Bank list there were the backbone enterprises which have admitted defaults under bonds. Among them the group the GAS which has admitted on February, 13th a technical default under the offer under debut bonds on 4,8 mlrd rbl., aircraft constructing corporation “ the Instant “ acted as the guarantor on release “ the Instant - finans “ The last year which has admitted on December, 12th a default under the preschedule repayment of bonds of the second series at total amount of release 3 mlrd rbl.
“ Inclusion in this list of the companies which had technical defaults, increases risks for the Central Bank, but for a regulator now it is important to renew crediting of real sector and the backbone enterprises in particular “ - Arthur Arakeljan considers. “ the Central Bank has supported the government which has promised the help to the companies representing strategic branches, - the chief of department of the analysis of a bond market and the credit market of MDM - bank Michael Galkin, - inclusion of obligations of these enterprises in the list of the actives accepted by the Central Bank for granting of refinancing to banks argues, will increase motivation of banks for granting of financing to the companies “. According to the experts, the Central Bank will be refinansirovat such actives with discount from 30 % to 80 %.