25 Sep 2009 14:55

MinFin could issue up to 25 bln rubles in OFZs for banks in 2009

MOSCOW. Sept 25 (Interfax) - The Finance Ministry does not need to issue 150 billion rubles in Federal Loan Bonds (OFZs) in 2009 in order to boost bank capitalization, Deputy Finance Minister Tatyana Nesterenko said.

She said that the total OFZ placement would come between 20 billion rubles and 25 billion rubles for banks in 2009.

"This amount is barely necessary [150 billion rubles]. We actually put the total requirement at maybe 20 billion-25 billion rubles," she said when asked by deputies in the State Duma on Friday.

She added that it was still nonetheless necessary to maintain a reserve in the budget of 150 billion rubles in OFZs for increasing bank capitalization.