El notes

Reducing the cost of shares during the trading session, the Japanese developers were noted, after analysts at UBS AG lowered the ratings on them. Thus, quotes Mitsui Fudosan Co. fallen on 3,2%, Sumitomo Realty & Development Co. – On 3,5%.

At the same time increase was observed among the shares of electronics manufacturers. In particular, the paper NGK Insulators Ltd. And Foster Electric Co. added to the price of 8,3% and 9,1% respectively.

“If the first wave – a liquidity crisis, the second – the growth of credit risk. We have seen her since last December – January of this year, and it is accelerating,” – said Romanov.

“We believe that it has arrived. But as the credit risk of the less visible and less conspicuous in comparison with liquidity risk, society and the financial community have noticed the first wave and second wave – Stretch – Romanov added, noting that market participants to take precautionary measures that can mitigate this problem.

agree S & P contrasts with the view of most Russian officials, who believe that the “second wave” of the crisis does not threaten Russia.

S & P forecasts that in 2009-2011 the volume of bad loans could reach 40 percent of total assets of Russian banks. The agency calls the problematic loans overdue debts, restructured loans and loans that can be restructured in the next six months.

“From that figure, which I named the lion’s share will be reflected in the next six months”, – said Romanov.

On Monday, S & P issued a report, which predicts the growth of systemic risks in the banking sector in Russia due to economic recession, which would have to increase banks’ problem loans and the loss of funding sources, which “freezes” the development of banking business .

“on repayment of mortgage loans and interest thereon may be used in 2010 to 70 percent of maternal capital”, – considers T. Golikova. She recalled, ITAR-TASS that it was in 2010 “in full force enters the law on the use of maternal capital”. These funds citizens can send the purchase of housing, education of children or funded part of pensions.

According to the minister, in 2010 the size of the parent capital will amount to 343 thousand 378 rubles. She noted that “it is at 93.4 rubles more than since the introduction of the law”.

In particular, according to the report of the IMF, it is now necessary to take additional measures to restore bank balance sheets, financial institutions were able to resume lending as needed to support economic recovery. Otherwise, the risks to the global financial system and the economy can grow again.

Analysts said the IMF, the gradual return of banks to capital markets and return them to profitability indicate that the global banking system is no longer on verge of collapse. According to the IMF, over the last 6 months of the cancellation of “bad assets” fell by nearly $600 billion, and now their total volume is estimated at 3.4 trillion dollars, whereas previously written off was estimated at 4 trillion dollars, however, banks continue to face significant difficulties. Thus, in the I half of 2009. banks have announced a possible write-off of assets to 1.3 trillion dollars, but in the second half of this year may be made to write off another 1.5 trillion dollars Furthermore, banks require massive additional funding to cover writedowns and refinancing debt.

Recall that the September 15 The IMF said that the States still too early to turn off anti-crisis program to stimulate the economy, but now need to begin preparing for a gradual and negotiated end to incentives. “Downloaded the economy of unprecedented amounts of liquidity, the government must now work out a plan to get rid of the assets obtained in exchange and reduce the risks to themselves, significantly increased in connection with the gosvlivaniyami” – described in the materials of the IMF. “The guarantees may require the payment of the claimed credit programs can be used, the loans can not be returned, and assets – to lose its value. If these risks materialize, the ultimate price for taxpayers’ state intervention may be unpredictable,” – analysts said the IMF.

The Forum BSGV and Administration of Sochi have concluded an investment agreement for the implementation of credit programs in the amount of 350 million rubles.

On behalf of the mayor of Sochi City Deputy Mayor of Sochi Oleg V. Yasiuk expressed confidence in a fruitful collaboration with the Bank Societe Generale Vostok and implement all the plans in the area of financial market development in the resort city of Sochi.

Sattarova According to Elias, the Director of the Regional Directorate for the Southern Federal District Bank Societe Generale Vostok, the signing cooperation agreement with the Administration of Sochi is a logical step after the discovery in early September 2009 BSGV office in Sochi. “The need for providing a full range of banking services to private clients, both individual entrepreneurs, small, medium and large businesses is a major task that confronts us. I am confident that the European level of service and favorable conditions of interest to residents of Sochi,” – added Mr. Sattarov.

The Forum was attended by over 20 foreign countries, about 400 foreign companies, 59 Russian regions. Total number of participants of the forum has reached 8 thousand people.

On Tuesday, September 29, 2009, the maximum intra-day value of the RTS Index reached 1 265.93 points, representing 100% growth over 2009. At the same time the growth of MSCI Emerging Markets Index for the year amounted to 59,2%, the Chinese Shanghai Composite 51%, the Bovespa in Brazil 63% and the S & P 500, only 18%, the study says MarketWatch.

more detail with the study is available at MarketWatch.

RTS Index – the main indicator of the stock market in Russia, the calculation of which began Sept. 1, 1995 with 100 points. RTS Index is calculated on the basis of quotations of 50 shares most capitalized Russian companies. In a family of indices includes the RTS: RTS Index, RTS-2 Index, Oil and Gas (RTSog), Telecommunications (RTStl), Industry (RTSin), Metals and Mining (RTSmm), Consumer goods and retail trade (RTScr), Power (RTSeu ), Finance (RTSfn).

How to get a loan? On this question the central bank will respond to anyone who bothers to go to his site. Central Bank decided to increase the financial literacy of the population in the simplest way – to make a short cartoon about how to approach the issue of obtaining a bank loan. It can be found under “Videos” under the name “Information video” How to get a loan “.

From the short video, which lasts just over a minute, you can see what exactly should I look for when going to to the bank for money. “Hero of the cartoon, the young Rossiyanin a tie and suit, will tell you the most important thing.

So, if you want to take credit for buying cars, building villas, for educational purposes or on vacation, then Central Bank advises the first thing to determine the amount of the loan. Then you need to go to the bank and get all the credit terms carefully studied the contract. It indicates the amount of the loan, interest and other payments. That is, in fact, as you will have to pay the bank. Bank urged recommends that attention is on the “other payments”.

At the same time take credit into the first bank is not worth it. CB advised to compare the conditions on loans to several banks to choose the most advantageous. This information should help banks the full cost of credit.

The next step – calculation of their income and expenses for servicing the loan. “Correctly assess your ability! – Highly recommended in the cartoon – and on the basis of them make the right decision “.

” The Bank of Russia advises: deliberately take the credit! “- Sums up the Central Bank.

The idea is not new Central Many use it animated videos to talk about important things. After all, such a form is the easiest and most affordable for the average person.

In Russia, for example, in 2007 the mortgage company “My House” lifted Cartoon “Ipotesha, Russian hero,” whose main characters were members of the mortgage transaction. The company said then that it is not advertising its services and awareness of the various segments of the population with a mortgage and its participants.

In other countries, too extensive use of cartoon characters. For example, a recent world-renowned American investor, billionaire Warren Buffett became the hero of television show The Secret Millionaire’s Club. “Painted Buffett has acted as a mentor of children taking their first steps in business.

A more “economic physicist, Reginald Smith, a couple of years ago made a cartoon about how the crisis is spreading to the U.S. financial system during the period from August 1, 2007 to October 10, 2008 – from company to company, from fishery products to the industry.

Cartoons have long been almost perfect conductor of complex financial information for many people. It is this and decided to take advantage of Russia’s Central Bank.

He explained that Russia’s economy is too dependent on oil prices and the related inflows and outflows of capital.

Ignatiev reminded that, theoretically, inflation targeting implies that the central bank undertakes not to influence the rate of national currency through intervention. “But in fact, central banks sometimes resorted to intervention. It’s almost free floating and almost inflation targeting. To such a regime can move quickly – within two years” – said the head of the Central Bank.

As reported, the Bank of Russia plans to complete transition to inflation targeting and the free floating of the ruble to the end of 2012. This provides the main directions of monetary policy for 2010-2012, which were approved on Tuesday, September 29, Board of Directors of the CBR.