MICEX and RTS suspended bidding
Newsroom Priostanovleny tendering shares on the MICEX and RTS.
Trades on the stock exchanges suspended in connection with the prescription FSFR. Trades on the MICEX suspended from 12.10 CET, on the RTS stock exchange - with 12.08 CET.
Wednesday, September 17, 2008
Bank Soyuz perform obligations under repurchase transactions
Bank Soyuz perform obligations under repurchase transactions
Newsroom Bank "Soyuz" affirms full compliance with all its obligations under the transactions with counterparties.
In an official communication Bank notes that, despite the difficult situation in the stock market, commitments for the transactions with counterparties implemented in full, including the repurchase transactions.
Newsroom Bank "Soyuz" affirms full compliance with all its obligations under the transactions with counterparties.
In an official communication Bank notes that, despite the difficult situation in the stock market, commitments for the transactions with counterparties implemented in full, including the repurchase transactions.
Bank Ratings Upgraded YuniKredit
Bank Ratings Upgraded YuniKredit
Newsroom Standard & Poor's upgraded the long-term credit rating of JSC "YuniKredit Bank" to "BBB" to "BBB". Short-term rating affirmed at 'A-2 ". Outlook on ratings - "Stable".
The material from the agency indicated that the increased ratings due to progress in business development and maintaining high financial performance of the bank.
Ratings hamper the high transaction risks and generally heightened volatility of financial markets within the Russian Federation, fairly aggressive growth strategy and remains a large concentration of the resource base.
Newsroom Standard & Poor's upgraded the long-term credit rating of JSC "YuniKredit Bank" to "BBB" to "BBB". Short-term rating affirmed at 'A-2 ". Outlook on ratings - "Stable".
The material from the agency indicated that the increased ratings due to progress in business development and maintaining high financial performance of the bank.
Ratings hamper the high transaction risks and generally heightened volatility of financial markets within the Russian Federation, fairly aggressive growth strategy and remains a large concentration of the resource base.
CIT Finance will finalize negotiations with the investor by the end of the day
CIT Finance will finalize negotiations with the investor by the end of the day
Newsroom investment bank CIT Finance "is negotiating with strategic investors about joining the Capital Bank.
The message bank notes that negotiations with a view to overcoming difficulties in the calculations on repo transactions that have emerged from the bank in connection with the sharp decline in the stock market.
It is envisaged that negotiations will culminate with a strategic investor by the end of the day.
Newsroom investment bank CIT Finance "is negotiating with strategic investors about joining the Capital Bank.
The message bank notes that negotiations with a view to overcoming difficulties in the calculations on repo transactions that have emerged from the bank in connection with the sharp decline in the stock market.
It is envisaged that negotiations will culminate with a strategic investor by the end of the day.
System-banks would be supported by the Ministry of Finance
System-banks would be supported by the Ministry of Finance
Newsroom Russian Ministry of Finance reported that the authorities will undertake a series of measures to support Russia's financial system. In particular, the limit will be increased deployment of free treasury funds in bank deposits. Also support will be provided system-banks - an increase of placement and timing of the deployment limits.
Thus, Sberbank, VTB and Gazprombank will be asked to raise funds on deposit federal budget for a period of three months or longer. Limit placement of funds in these banks increased to 1 trillion. 126.6 billion rubles. Given the increasing limits placement of funds in Sberbank, VTB and Gazprombanke total placement of funds increased to 1514 trillion. rubles.
Also scheduled to make a change in budgetary legislation, the possibility of placing funds in the budget, bank deposits in 2008, returning funds in 2009.
Newsroom Russian Ministry of Finance reported that the authorities will undertake a series of measures to support Russia's financial system. In particular, the limit will be increased deployment of free treasury funds in bank deposits. Also support will be provided system-banks - an increase of placement and timing of the deployment limits.
Thus, Sberbank, VTB and Gazprombank will be asked to raise funds on deposit federal budget for a period of three months or longer. Limit placement of funds in these banks increased to 1 trillion. 126.6 billion rubles. Given the increasing limits placement of funds in Sberbank, VTB and Gazprombanke total placement of funds increased to 1514 trillion. rubles.
Also scheduled to make a change in budgetary legislation, the possibility of placing funds in the budget, bank deposits in 2008, returning funds in 2009.
CIT Finance does not pay for a number of repo transactions
CIT Finance does not pay for a number of repo transactions
Newsroom investment bank CIT Finance does not pay for repo transactions (sale of securities with an obligation to reverse repurchase) at 6 billion rubles from about 15 contractors.
According to unofficial data, the bank does not calculate before VTB, Nomos-Bank, Communications Bank. Among the "victims" also known as counterparties KIT Merrill Lynch, "Renaissance Capital", Alfa Bank and Uralsib. " Representatives of banks do not comment on the situation.
In a statement CIT Finance notes that the failure of several customers of their obligations, the bank, in turn, has not fulfilled some obligations to contractors. The bank noted that intensive work is under way to resolve the situation.
Experts warn: liquidity problems for the entire market, can go a chain reaction of defaults on securities transactions and series of bankruptcies.
In banking circles say that CIT Finance is negotiating the sale of VTB, but information has not yet officially commented.
Newsroom investment bank CIT Finance does not pay for repo transactions (sale of securities with an obligation to reverse repurchase) at 6 billion rubles from about 15 contractors.
According to unofficial data, the bank does not calculate before VTB, Nomos-Bank, Communications Bank. Among the "victims" also known as counterparties KIT Merrill Lynch, "Renaissance Capital", Alfa Bank and Uralsib. " Representatives of banks do not comment on the situation.
In a statement CIT Finance notes that the failure of several customers of their obligations, the bank, in turn, has not fulfilled some obligations to contractors. The bank noted that intensive work is under way to resolve the situation.
Experts warn: liquidity problems for the entire market, can go a chain reaction of defaults on securities transactions and series of bankruptcies.
In banking circles say that CIT Finance is negotiating the sale of VTB, but information has not yet officially commented.
Central Bank will provide more liquidity
Central Bank will provide more liquidity
Newsroom Bank of Russia takes additional steps to increase its ability to provide liquidity to commercial banks. According to the Central Bank First Deputy Chairman Alexei Ulyukaev.
The relevant decisions adopted before the committee on monetary policy TSB.
As pointed out by Alexei Ulyukaev, reset discounts on direct repo operations with OFZ and OBR. If before discount was 1.25%, now it equals zero, and hence, under the same amount to ensure banks can attract more liquidity. This will increase the possibility of TSB to provide liquidity through repo transactions by about 10 billion rubles.
Also, the Central Bank increased the adjustment ratios to provide liquidity on bail non-tradable assets - credit claims and bills. Each of the three types of correction factors upgraded to 0.2. This will provide additional liquidity at billions of rubles.
Newsroom Bank of Russia takes additional steps to increase its ability to provide liquidity to commercial banks. According to the Central Bank First Deputy Chairman Alexei Ulyukaev.
The relevant decisions adopted before the committee on monetary policy TSB.
As pointed out by Alexei Ulyukaev, reset discounts on direct repo operations with OFZ and OBR. If before discount was 1.25%, now it equals zero, and hence, under the same amount to ensure banks can attract more liquidity. This will increase the possibility of TSB to provide liquidity through repo transactions by about 10 billion rubles.
Also, the Central Bank increased the adjustment ratios to provide liquidity on bail non-tradable assets - credit claims and bills. Each of the three types of correction factors upgraded to 0.2. This will provide additional liquidity at billions of rubles.
Securities held Lombard loan auction
Securities held Lombard loan auction
Newsroom September 16, 2008 the Central Bank of Russia held a Lombard loan auction (on the American way) with a term loan 2 weeks (14 calendar days, the date of the loan Lombard Bank of Russia on the outcome of the auction - September 17, 2008, the date of Lombard loan repayment and interest payments on it - on October 1, 2008). It is reported department of external and public relations of the Bank of Russia.
Central Bank of Russia set the rate cut in the amount of 8% per annum, average interest rate - 8.03% per annum.
Fixed interest rate on loans Lombard Bank of Russia for a period of seven days for the period from 17 to Sept. 23, 2008 inclusive fixed at 8.03% per annum.
Newsroom September 16, 2008 the Central Bank of Russia held a Lombard loan auction (on the American way) with a term loan 2 weeks (14 calendar days, the date of the loan Lombard Bank of Russia on the outcome of the auction - September 17, 2008, the date of Lombard loan repayment and interest payments on it - on October 1, 2008). It is reported department of external and public relations of the Bank of Russia.
Central Bank of Russia set the rate cut in the amount of 8% per annum, average interest rate - 8.03% per annum.
Fixed interest rate on loans Lombard Bank of Russia for a period of seven days for the period from 17 to Sept. 23, 2008 inclusive fixed at 8.03% per annum.
The market will collapse sequence of bankruptcies.
The market will collapse sequence of bankruptcies.
Newsroom Problems of American financial institutions have caused the collapse yesterday deepest on the Russian stock market.
The collapse started from the opening, in connection with the sharp decline in stock exchange quotations were forced to suspend trading in individual stocks ( "Rostelecom", Sberbank, TGC-7 and others). At 16.42 Moscow time on MICEX index decrease was 16.6% and stopped bidding at the bourse hour. That decision has not adopted with the bourse on June 13, 2006. In bidding to suspend and 17.00 on the RTS.
At the end of the day RTS and MICEX index lost 11.47, and 17.45%, down to levels the end of 2005. Thus, VTB shares fell yesterday on the MICEX at 29.26% and now stands at 76% below the price of accommodation. Papers Sberbank lost 21.72% (59.55% lower on placement), "Rosneft - 21.27% (34% below the prices of placement). The capitalization of Gazprom fell by $ 31.96 billion
Experts warn that as soon as possible collapse of the Russian market will lead to a chain reaction and its impact will manifest itself in all sectors of the economy. The collapse in the market would cause serious problems with credit from Russian companies, many of whom may become bankrupt.
Newsroom Problems of American financial institutions have caused the collapse yesterday deepest on the Russian stock market.
The collapse started from the opening, in connection with the sharp decline in stock exchange quotations were forced to suspend trading in individual stocks ( "Rostelecom", Sberbank, TGC-7 and others). At 16.42 Moscow time on MICEX index decrease was 16.6% and stopped bidding at the bourse hour. That decision has not adopted with the bourse on June 13, 2006. In bidding to suspend and 17.00 on the RTS.
At the end of the day RTS and MICEX index lost 11.47, and 17.45%, down to levels the end of 2005. Thus, VTB shares fell yesterday on the MICEX at 29.26% and now stands at 76% below the price of accommodation. Papers Sberbank lost 21.72% (59.55% lower on placement), "Rosneft - 21.27% (34% below the prices of placement). The capitalization of Gazprom fell by $ 31.96 billion
Experts warn that as soon as possible collapse of the Russian market will lead to a chain reaction and its impact will manifest itself in all sectors of the economy. The collapse in the market would cause serious problems with credit from Russian companies, many of whom may become bankrupt.
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