Rus News Journal

Game rules

S and P does not hurry up to lift a rating of Russia
the International rating agency Standard and Poor ` s (S and P) marks the further strengthening of a credit position of Russia, but refuses to name possible terms of increase of a rating. It has declared Konrad the Royce, the operating director of sovereign ratings in Europe. S and P in January has raised a rating of the Russian eurobonds to VV + that on one step below investment level. Increase has been caused by that the high price of oil pushes economic growth. if unexpected benefit from the long high price for oil copes the government reasonably and will be used for state financing strengthening, on important problems, for example formation, social needs and an infrastructure, it, of course, could support the further improvement of a credit rating - has declared Konrad the Royce. Concerning possibility of increase of a rating of Russia this year he has told that Would not like to speculate on terms, but, of course, with that we see now, all definitely moves in a correct direction . That still is absent - and this one of key fears which at us are, - acceleration or renewal of an impulse of structural reforms - representative S and P believes.
Interfax

the Declaration on intentions
Head DKK has supported creation central depozitarija
Central depozitary (TSD) can be created within a year by association of Depozitarno - the clearing company (DKK) and National depozitarnogo the centre (NDTS). The president of Joint-Stock Company DKK Igor Morjakov has informed On it. As he said, negotiations about creation TSD are conducted between DKK and NDTS within last two years, however the form of association of the companies is not defined yet. According to mister Morjakova, the partnership is possible in the form of holding into which actives DKK and NDTS, or in the form of creation of the new organisation will enter. Any decisions on this question yet did not begin, however there is a hope that Oleg Vjugin`s arrival on a post of head FSFR should put business in motion he has told. Independence, availability, a transparency and noncommercial character of activity should become main principles of functioning TSD, according to head DKK. Creation TSD will lead to minimisation of expenses, decrease in risks, cost and terms of calculations for investors. For today cost of calculation of one transaction makes 0,2 - 0,5 % of its volume, Igor Morjakov has specified, having added that at small spreads these expenses prevent to earn and conduct to liquidity decrease .
the Prime - TASS

Statistics
the Pension fund lags behind again the schedule
the Pension fund of Russia (PFR) by May, 14th has dispatched about 10 million notices on a condition of memory pension accounts of citizens. As representative PFR has informed, mailing is conducted with small backlog from the schedule - within 1 million letters. In 2004 40 million the citizens, participating in pension reform, PFR should dispatch letters in which the data about a condition of the memory pension account, two forms of statements for transfer of pension accumulation - in management companies (UK) and not state pension funds (NPF) will contain, and also the instruction on filling of forms. PFR should finish mailing on July, 1st, however it is supposed to make changes to the law About investment of means for financing of a memory part of labour pension for the purpose of prolongation of terms of mailing till November, 1st. It is simultaneously planned to prolong the termination of term of a choice by citizen UK or NPF for transfer of pension accumulation since October, 1st for December, 31st.
Interfax

Transactions
Rosgosstrakh has chosen the auditor
the Auditor Rosgosstrakh following the results of open competition on carrying out of audit of the reporting of the insurer for 2004 there was a company Rosekspertiza which also booked audit Rosgosstrakh last year. As informs a press - service Rosgosstrakh besides Rosekspertizy participation in competition accepted BDO Unikon International it is advisory - the legal centre under the taxation, independent consulting group 2 Audit - Business consultations and vneshaudit Consulting .
Interfax