The media learned the details of the new management plan for the salvation of VEB


The new Chairman of Vnesheconombank (VEB) Sergey Gorkov presented at the sitting of the Supervisory Board of the Bank plan of measures on increase of financial stability of the Bank. “Vedomosti” has read this document.

According to the plan of Gor, VEB proposed to capitalize the budget (the government will allocate to support VEB 150 billion rubles) and the Central Bank, which needs to convert Bank debt into subordinated loan that could be included in tier II capital. In addition, VEB is planning to get an extra Deposit on 55 billion rubles from the Federal Treasury and the extension from NWF expiring in June a Deposit of 50 billion rubles (or its replacement by Deposit of Gazprombank).

From state companies and state corporations Vnesheconombank plan to get an account with them they will place funds, and compensation funds the construction of SRO.

Not less than 100 billion rubles VEB expects to receive from the retirement savings account placement of funds of the Pension Fund, which as a state management company manages the web, in long-term bonds of VEB.

VEB also willing to part with a share in Gazprom (it owns 2.7% of its shares, which according to the London stock exchange on March 29, cost $1.3 billion): it is proposed to sell his ADR shares.

Also, according to the plan of the new management VEB plans to sell part of troubled assets — banks (Prominvestbank, Ukraine, rehabilitated Sviaz-Bank and GLOBEXBANK), cars and aircraft leasing “daughters” and hand the other part gosudarstvo. In addition, they will audit governance structure “VEB capital” and prepared proposals for the implementation of the retail leasing business.

It is also proposed to limit spending to charity for this year is RUB 1 billion.

According to a source, “Vedomosti” among the participants of the meeting of the Supervisory Board of the Bank, besides providing 150 billion rubles from the budget in capital VEB tangibile approved, the Deposit of the Treasury. All the other points proposed by the Bank rukovodstvom plan being discussed, said the source. Some of the measures included in the plan, are discussed as ideas for the long term, he said.

A spokesman for Prime Minister Dmitry Medvedev Natalia Timakova advised Vedomosti ask for comments in the web. VEB, the Ministry of Finance, the Central Bank and Gazprombank did not respond to the inquiries.

Previously learned that the Supervisory Board of Vnesheconombank will consider converting short-term loan from the Central Bank for 500 billion rubles in subordinated loan for ten years in order to take into account its capital and to solve some of the problems of the Corporation.

On March 29, following the meeting of the Supervisory Board, the Prime Minister of Russia Dmitry Medvedev, who heads the Supervisory Board, announced that the government adopted the decision on allocation on recapitalization of Vnesheconombank in 2016 150 billion rubles the day before the newspaper “Vedomosti” with reference to its sources reported that the government allocated 150 billion rubles is already included in the financial plan of the VEB for 2016.

According to the newspaper “Kommersant”, the original amount of assistance requested by the Corporation, to 1.5 trillion rubles, Finance Minister Anton Siluanov in December 2015 was assessed salvation VEB 1,34 trln rbl. is Not excluded that the Bank can expect to receive in 2016 300 billion rubles from the national welfare Fund (NWF). This was announced in mid-March from the Ministry of Finance published the draft of new rules for allocation of the Fund on the deposits of the Bank.

28 March in the state Duma was introduced a bill on the conversion now controlled by VEB, the Russian direct investment Fund (RDIF) to a separate company, the sole shareholder of which will be the state. In the explanatory note to the document noted that the adoption of the new law will help to develop “instruments of state to stimulate foreign and domestic investment” in the acquisition of RDIF “appropriate status”.