Finance Ministry supports idea of allowing non-state pension funds buy Russian banks' subordinated loans
MOSCOW. Oct 13 (Interfax) - The Finance Ministry supports the idea of allowing non-state pension funds buy Russian banks' subordinated loans, Deputy Finance Minister Alexei Moiseyev told journalists.
"It's a good idea. We support it. We have prepared the corresponding report for the government," he said.
As reported, the Russian Economic Development Ministry is considering giving non-state pension funds access to the subordinated loans of Russian banks.
Representatives of the ministry said this might be of interest given the complicated situation that currently exists with raising money on international markets.
The ministry's press service has said this was being reviewed, but no timeframe for making a decision had been set.
Russian banks lost access to western capital markets following U.S. and EU sectoral sanctions earlier this year and are now relying largely on the domestic market.