The Ministry of Finance: the DIA can choose the credit limit of the Central Bank’s 110 billion

The Ministry of Finance: the DIA can choose the credit limit of the Central Bank’s 110 billion


Payments will be made immediately, so the credit of the Central Bank will be chosen DIA, as payments will be up to the Agency, said Deputy Finance Minister Alexei Moiseev.

MOSCOW, 21 Oct. The Agency for Deposit insurance (DIA) will select the entire limit approved by the Bank of Russia loan of 110 billion rubles over the next 2-3 months, told reporters Deputy Finance Minister Alexei Moiseev.

In June, the Board of Directors of DIA approved the possibility of Agency in the Central Bank to provide loans totaling up to 110 billion rubles without collateral for a period of 5 years at a reduced rate.

“The Board of Directors approved up to 110 billion rubles. I think it’s quite realistic that the DIA will choose the money over the next few, two to three months,” he said.

“This is not a forecast of the banks’ collapse, this forecast is based on the assessment payments,” — said the Deputy head of the Ministry of Finance, noting that since payments will be carried out immediately, the credit of the Central Bank will be chosen DIA, as payments will be up to the Agency. “To maintain the Fund at a sufficient value,” explained Moses.

The Deposit insurance Agency in consultation with the Bank of Russia has resorted to financing payments of insurance compensation at the expense of credits of the Central Bank, if the size of Fund of obligatory insurance of deposits may fall below 40 billion rubles.