El notes

Prime Minister Vladimir Putin held a meeting on the implementation of priority national projects, which addressed the support of mortgage lending. Prior to the meeting head of Russia’s cabinet ministers visited Tyumen high school, where ninth-class mathematicians solved the problem, the quest for buying real estate on credit. To solve such problems in reality – not an easy task, and the authorities are trying to make housing truly affordable for citizens. In particular, lowering mortgage rates and housing costs. On Friday, Prime Minister announced a new mortgage solution – soon to take a loan to buy a flat it will be only for the purchase of square meters in new buildings.

“This program should be launched in April”, – Putin said during the meeting. He stressed that “today, new apartments are cheaper than similar housing in the secondary market.” Where does the government such information, he explained.

Say goodbye to the “secondary” mortgage, the government plans to not only ease the burden of loan borrowers, but also help builders. “Thus, we are seriously support the housing and stimulate the launch of new construction projects”, – Putin said.

The prime minister said, in 2007-2008 has been allocated 820 thousand mortgage loans amount of 1 trillion 200 billion rubles. This, Putin said, allowed for the construction of 61 million sq. meters and 64.1 million square. meters of housing in 2007 and 2008, respectively. In the past year, reminded the head of government, the real estate market have been falling, but it was built 59 million residential “squares”.

also told the prime minister, planned to limit the maximum size of a standard mortgage. In general, Russia’s “ceiling” should reach 3 million rubles. But for Moscow and St. Petersburg – 8 million rubles. Putin also recalled that the VEB and the National Welfare Fund were provided to support a mortgage of some 250 billion rubles.

Also, the Premier said that the initial installment be not more than 20% of the apartments. At the same time, he said shortly, and this option will be reduced to “around 15 %”.

Putin also once again expressed the view that the interest rate on the mortgage should not exceed 11% per annum, and in the years to banks, which enjoy public support, will have to lower the rate to 6%.

Chairman of the Committee on Property of the State Duma of Russia, Viktor Pleskachevsky attended the club’s experts Bankir.Ru. He cited statistics that say that in Russia the total amount of state and municipal property exceeds 75% of all property included in the civil legal relationship. Ie Poor management of this material basis is generated by the disproportionately large (relative to the real needs of the state) share of state property (land under buildings and with x-purpose property SUEs and MUPov, etc.).

expert makes number of suggestions based on trends in world practice. In particular, the proposed revision of the privatization legislation in favor of liberalization, privatization processes. In addition, according to V. Pleskachevsky need large-scale transformation of state and municipal unitary enterprises into state enterprises and joint stock companies and their subsequent privatization. Is also proposed to accelerate the process of selling land for privately owned real estate objects in order to complete this process, mainly during 2010-2012. These measures should bring the expected effect of improving the competitiveness of Russia’s economy and lead to greater efficiency of its management.

To do this, the Bank of Russia will constantly vary the amount and levels of support, thus creating volatility, albeit in “limited” corridor. “In our opinion, the Central Bank supporting such tactics is trying to kill” two birds with one stone: to minimize their presence in the foreign exchange market and reduce the effect on market speculators. This strategic goal of the monetary authorities is to deter excessive strengthening of Russia’s currency ».

In general, in the short run, experts expect a weakening of the national currency relative to the current level. “In favor of this may come up and very likely shortfall of foreign currency due to active intervention by the Central Bank (in February regulator bought 6.5 billion dollars), and a local correction of global markets, the continuing high volatility. In the longer term, there will likely be dominated by a trend towards the strengthening of the ruble, at least, there remain high oil prices ».

However, in his opinion, in 2010 the volume of loans will remain at current levels, and restore the market may prevent the uncertainty in the behavior of financial authorities.

In order to declining interest credit is important not so much the size of the refinancing rate of CB, as there is no risk to improve it, said Mr. Tosunyan. And just this regulator can not promise. The period for which banks are laying in interest on credit risk of increasing the base rate is about one year. According to the head ARB, now it would be better not to cut rates, and leave it at the same level, giving a firm guarantee that it will not rise.

As noted in the report of the ARB “Modernization Russia’s banking system “, last year’s consumer finance market has finished falling by 11,3%. According to the Central Bank, in January this year the volume of loans to individuals dropped by 0.8%. Now, according to Mr. Tosunyan, the banks accumulated excess liquidity. Accumulated reserves comprise 20 – 25% of the loan portfolio, and sooner or later, these funds should go to the market. However, it is safe to predict the revival of the market potrebkreditovaniya head ARB still did not – too uncertain macroeconomic situation. Thus, the prerequisite for reviving credit market remains stable oil prices. If raw material costs go down, the central bank will be forced to raise interest rates, followed by the stretch and loan rates of commercial banks.

from Wednesday’s refinancing rate is at a minimum – 8,5 %. Meanwhile, Bank of Russia’s future policy in respect of rates remains unknown. Decisions will be taken “in view of inflationary pressures, the dynamics of indicators of industrial activity and the state of the domestic financial market,” says the official report of the Central Bank.

In early February, the Central Bank first deputy chairman Gennady Melikyan said sees no need for further lowering of rates. “We pretty much reduced rate, and I think we should wait a bit and see what will happen to inflation”, – he said. In this case the Central Bank first deputy chairman Alexei Ulyukayev told reporters that the economic situation allows you to reduce the rate, since inflation is still declining.

value of the refinancing rate for the lending market can be overstated, “said the Vremya news source in the one of Russian banks. More important is that the banking system has accumulated a large amount of excess liquidity, which seeks to somehow use. According to experts, the market potrebkreditovaniya truly abuzz with activity, decreases and the amount of delay. True, Mr. Tosunyan believes that there is a danger of a new wave of defaults: it may come, if the laws on bankruptcy of businesses and individuals will be taken in the form in which they now propose to consider. The bill provides for the so-called rehabilitation period of five years and for physical and legal persons. These conditions are unacceptable to banks, has warned Mr. Tosunyan. According to him, for individuals, this period should be three months, and for businesses – six months.

turned out that through postal money has flowed out of the country about $10 billion It is 2,5 times less than in 2008 ($25.6 billion). Which is not surprising: the crisis. Surprisingly different: in Russia suddenly become flush means … from Kazakhstan. And some other unexpected countries.

data of the Central Bank on remittances from the country reflect the picture of labor migration. From guest workers go, there and then send remittances. Among the CIS countries in the rating of the leaders of the Central Bank of Uzbekistan, Tajikistan and Ukraine. It is working out of these states – the most frequent characters in our everyday life. In the far abroad the most money sent to the Chinese and the Georgians. Curiously, Georgia last year, withdrew from the CIS, but the volume of remittances is practically not affected.

And that’s where the money is coming to Russia? It turned out – first and foremost from Kazakhstan. And this, of course, surprise. From this country last year was transferred to $251 million While the United States, where many Russians, transfers were much more modest – $162 million only thing that the experts were able to explain such a contribution of Kazakhstan in our economy – the crisis. “Perhaps, the situation was much worse than ours. People withdraw money from accounts and transferred to us” to preserve, “- said a senior analyst at Veles Capital, Ivan Gerevich. Save money in another country – a curious example of” folk “commerce.

Another interesting observation: most major transfers connect us with China and Vietnam. Here the average” assumption “- $2,402 and $1,759 respectively. The explanation for this, too, have – shuttle. more translations are also in Turkey and the Arab Emirates, France and Britain. However, in regard to the EU countries, this is not a shuttle business and tourism.

Of course, the volume of export of money in 2009-m was not commensurate with what has been a year earlier. In 2008, abroad sent $25.6 billion at the fact that the crisis has already raged. But here, you can explain everything. Perhaps, in fact, fall is not as significant, just more money goes past the statistics, through the payment system on the Internet. It is no accident the banks so much worried about that, “slept through” the market. According to various estimates, the turnover of Internet payments in Russia last year amounted to $1 billion to 8-9 . How many of them went abroad – is unknown. While market participants are not able to answer “Izvestia” on this issue.

At the moment, the list included sixteen companies that had previously been granted licenses for the implementation of relevant activities (brokerage, depository, dealer, clearing, etc.).

Deputy Chairman of the State Duma’s financial market Liana Pepelyaev explained that the Federal Financial Markets Service, serving as control over the activities of professional securities market participants, have the right to suspend the licenses issued, if the professional securities market participant repeatedly during 1 year violated the laws of the market securities.

license suspension is carried out for up to 6 months and involves the prohibition of the activity. During this period, violators are required to eliminate the violations. If violations are not eliminated or if the violator has taken steps to prevent the commission of violations in the future, Federal Financial Markets Service makes a decision on license revocation.

According to Liana Pepelyaev, publishing information about companies that are not allowed to carry out certain types of securities transactions, will protect bona fide market participants. Now they can advance to receive information, whether the potential contractor or supplier of services in the securities market (for example, the depositary or clearing agency) the offender legislation on the securities market, thus excluding the possible negative consequences such as loss trials. In general, such a measure would reduce the risks that accompany the transactions occurring in securities and stabilize the market.

He did so, speaking Friday in Washington at the annual meeting of the public of the Bretton Woods Committee, a keynote speech on prospects for further development of the IMF in the light of the lessons of the current global economic crisis.

Estimating current state of the international monetary system, D.Stross-Kahn expressed the view that that “despite occasional problems, demonstrated during the crisis stability. “And the U.S. dollar played its role as a safe haven asset,” – said a senior specialist.

However, he acknowledged, “long-term question is whether a new global reserve asset. “Certainly, the presence of several suppliers reserve assets will limit the extent to which the international monetary system as a whole depends on the policies of one, albeit dominant, the state,” – stated D.Stross-Kan.

In connection Accordingly, he did not rule out that the IMF in the future “will call to ensure a globally produced a reserve asset, similar to the SDR / SDR – internal unit of the IMF and World Bank – approx. Itar-Tass, but differs in important aspects of it” . “This day has not come yet. However, I think, intellectually sensibly be explored such ideas right now – with an eye to the fact that the global system may be required at some stage in the future”, – the expert said.

“If this crisis we have learned something, and taught, so it is that versatility needed in today’s world, even more than in 1944 with the establishment of the Bretton Woods Institutions”, – quoted by ITAR-TASS statement D. Strauss-Kahn.

With the development of financial measures to combat money laundering (FATF) was a new list of countries not cooperating in the fight against money laundering and terrorism financing, or posing a risk to the international financial system, the report said Rosfinmonitoring.

As noted in the message, the decision was taken at a joint FATF plenary meeting with the regional group of the type of FATF in the Middle East and North Africa. Rosfinmonitoring participated in the meeting.

Following the discussion list was formed from the three categories of states representing a threat to the global financial system because of deficiencies in the national regime against money laundering.

In the first category came in one country – Iran. For her FATF calls for countermeasures to protect the international financial system to significant risks of money laundering and the financing of terrorism arising from the shortcomings of the national regime of that country.

The second category is classified as country, whose national systems to combat money laundering are significant, from a strategic point of view, disadvantages, and have not developed a plan to eliminate them by February 2010. These countries classified as Angola, North Korea, Venezuela and Zimbabwe. FATF calls on its Member States to pay attention to the risks of these jurisdictions.

The third category identified the country for which FATF had previously taken a public announcement noting the significant shortcomings in their national systems, and these deficiencies were not corrected by February 2010. This category referred Pakistan, Turkmenistan, Sao Tome and Principe. According to FATF, the shortcomings of data systems do not allow countries to identify and prevent criminal activities in a timely manner.

With monitoring FATF has withdrawn from Uzbekistan because of progress in the development and improvement of the national regime against money laundering.

In addition, Russia in the international mission ready in April to discuss the development of the national regime of Turkmenistan. Previously, such a mission work in Uzbekistan.

FATF also issued a list of states with deficiencies in the national regime and expressed their intention to improve. Among these states attributed Azerbaijan, Antigua and Barbuda, Bolivia, Greece, Indonesia, Jordan, Kenya, Morocco, Myanmar, Nepal, Nigeria, Paraguay, Syria, Sudan, Thailand, Trinidad and Tobago, Turkey, Ukraine, Sri Lanka.

Russia in June 2010 at the next FATF plenary meeting, will present his report on progress in the development of national money-laundering regime.

The order form prior to February 2010 a new “black list” of states and jurisdictions were given the FATF on the basis of G20 summit in Pittsburgh in the autumn of 2009.

FATF – an intergovernmental organization established in 1989 on the initiative of leaders of the Group of Seven. ” Russia was included in the “black list” FATF in June 2000, is excluded from it in October 2002.

“Euro Zone already has a central bank, currency, common monetary policy, and I am convinced that Britain will one day be a member” – leads on Saturday speech Minister channel Al-te-el.

Speaking at the Paris Institute of Political Science Sciences Po, a former European commissioner for trade, however, said that moving the UK to the euro “will not happen immediately, but we do”.

In euro area comprises 16 of the 27 EU member states. United Kingdom, as a member of the EU uses its own currency. The question of the euro is decided by the Government – either by voting in parliament or through a referendum.

eve, 26 February, Prime Minister Vladimir Putin said that the housing market needs to be supported, and the interest rate on the mortgage should not exceed 11%, which substantially expand the range of participants mortgage.
” I believe that 10-11% – this rate is available for 40% of Russians, but there is a large pool of citizens that at this rate can not buy a home, so our goal – to reduce (the rate on the mortgage – Ed.) and then ” – said Semenyaka.

In this case, he said, 40% of the population of Russia – is quite a significant number of people that could support demand in the housing market.

“But if you overdo it, we instead growth of housing construction we obtain the growth in house prices, but it is not a very good script” – concluded Semenyaka.