Russian President Vladimir Putin has instructed the bond issue to return capital to Russian jurisdiction.
“At our last meeting you were asked to create suitable mechanisms for the return of capital to Russian jurisdiction and as a tool proposed to use domestic bonds foreign loans denominated in foreign currency. The government and the Central Bank this issue has worked. And I have been instructed to determine the necessary conditions and parameters of the issue of such securities to Russian investors”, – said the President at a meeting with representatives of Russian business circles and associations.
The circulation of such papers is planned for 2018.
“We in September at the RSPP considered this question, it was actually your offer. He worked for the Ministry of Finance, Ministry of economic development, the Bank of Russia –the proposal raises no objections from anyone”, – said Putin.
The President also said that the authorities intend to expand the range of financial instruments for long-term, major investments in the national economy: “From February next year, will come into force a law on a syndicated loan. Its mechanisms allow to increase volumes of crediting and to increase the availability of resources for the real sector of the economy, while reducing risks for lenders themselves”.
In addition, should also be taken of the amendment to the legislation that allow banks and other professional market participants to produce structural bonds. “This is a new type of debt securities with partial coating of face value. That is, more risk but higher returns compared to conventional bonds,” – said the President.
The owls Putin, also there are agreements on the improvement of the legal regime for controlled foreign companies given the existing practice of functioning of this institution and your suggestions. “The relevant amendments prepared”, – said the head of the Russian Federation.