MOSCOW, November 24. External debts of the state Corporation “Vnesheconombank” to 1.2 trillion rubles can be transferred to the Ministry of Finance, writes the newspaper “Kommersant”.
According to the publication, on 26 November the head of the government Dmitry Medvedev scheduled a meeting on the settlement of the question of financial rehabilitation of the Bank. Initially, the proposed scheme with recapitalization via OFZ VEB in the amount of about 1.5 trillion rubles, according to Kommersant, did not find understanding at the Ministry of Finance.
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“Political” the recapitalization – five variants of salvation VEB
The office of Anton Siluanov believes that the main thing – payment of foreign debts of the Bank. Obligations under the Finance Ministry offers to take over – first, through the transfer of appropriate funds to the web (we’re talking about 100 billion rubles to pay for the debts in the first half of next year), and then directly indicate the newspaper’s sources familiar with the situation.
“These funds VEB need to get to the end of the current year, so as not to violate covenants in agreements with foreign investors”, – said the interlocutor of the edition involved in the discussion. Total external debt of VEB – about 1.2 trillion rubles.
In exchange for the state support of the VEB will be obliged gratuitously to transfer individual assets to the Treasury or a special Fund. We are talking about assets worth more than 1 trillion rubles, and they will be transferred at nominal value. In this case, as indicate the sources of Kommersant, Bank assets rehabilitated by Vnesheconombank from the last crisis “Communication-Bank” and “Globex” – under the new plan, must be sold. Thus, the question stopped being rhetorical.
The Finance Ministry said earlier about the need to sell these banks, however, the VEB, in turn, cited the lack of such opportunities in the market. Now, said the interlocutors of “Kommersant”, the buyer will determine the Central Bank.
Sale price must be equal to net asset value. Base capital “Svyaz-Bank” on November 1 through 123rd form was equal to 23.5 billion rubles, “GLOBEKS” – 24.6 billion rubles.
“Obviously, now buyers market for these cans at this price you will not find – says the interlocutor of Kommersant, close to the VEB. – Is the option – the Agency for Deposit insurance and its subsidiary Bank “Russian capital””. Thus, in fact, discussed re-cleaning “Communication-Bank” and “Globex”. About this discussion the two known sources of Kommersant. “However, the theme of transmission of these banks, the DIA was discussed earlier, but was not supported,” – says one of them.
According to the newspaper, in addition to the above it is proposed to reduce the cost of funding for VEB in the domestic market. For example, to reduce the rates on foreign currency deposits of the national wealth Fund placed with VEB in the amount of slightly less than $6 billion, as well as to restructure the obligations of the VEB Bank to the Central Bank on 358 billion rubles with a lower interest rate.
And yet the key is the consent of the Ministry of Finance to participate in the resolution of service issues by VEB of its external debt.
“It is important that the Ministry of Finance expressed its readiness to assume all obligations to repay external debt of VEB and the payment of interest and coupon payments starting from 1 January. This is great progress. Another thing is that the process of transferring those obligations directly to the Ministry of Finance may take at least six months, or a year,” says the source of Kommersant, close to the VEB. Thus the interlocutor of the newspaper doubts that the officials until the end of the week will be able to find an option with the transfer of the state assets responsibly, and are agreeable to all parties.