Date: 10 months ago   Category: Finance

The Central Bank and the Ministry of Finance haven't supported expansion of access for the Russian investors to foreign financial tools — Rambler News Service


The Deputy Minister of Finance of the Russian Federation Sergey Storchak and the first deputy chairman of the Central Bank Sergey Shvetsov haven't supported the idea to expand a possibility of access for the Russian investors to foreign financial instruments, they have reported about it during the performance at the Fair of financial decisions Finfair. "I am negative to this problem unambiguously, frankly speaking … For me the question remains open as the retail investor will protect the rights in foreign courts in case his rights as holder of bonds are broken. It is a lot of nuances and, at least, it is expensive, to assert the rights in foreign courts when the issuer of the tool refuses to pay on him" — he has told, commenting on the statement of the president of NAUFOR Alexey Timofeev that it is necessary to give the chance to provide to the Russian investors access to foreign financial instruments. According to Timofeev, "the appetite to foreign financial instruments is high, it isn't necessary to fight against it, it is necessary to give the chance of the Russian industry by the Russian rules, providing protection of the Russian law and order, to provide access to the foreign markets directly to the Russian investors". Storchak, commenting on the position, I have cited as an example purchase of eurobonds of Ukraine by Russia. "There is a simple example when the Russian Federation bought eurobonds of our neighbor, Ukraine, she acted as the qualified, professional investor or how on the contrary? We have been sure that, buying these papers, we are well protected by the English right. But here you know how many years we have already legal proceedings" — I have added the deputy minister. The first deputy chairman of the Central Bank Sergey Shvetsov has said that regulators look at the stock market "not only as a source of growth of welfare of our citizens, but also as on a source of financing of economic growth". "To say that "our economy is over-financialized, to say that we have an excess capital therefore let's help our American colleagues to support economic growth" — at me language doesn't turn … To us to live in this country, and the it will be better to develop, the it will be better for us to live in this country therefore yes, can be, in short term you will earn more, putting in foreign securities, but if to put everything in total, of course, we are interested that the Russian citizens invested in the Russian assets" — he has told. According to Shvetsov, "in the cumulative plan our interest is in that the Russian capital worked in Russia". Earlier Interfax has reported that the Moscow Exchange has postponed start of the trading in foreign stocks and an evening session in the stock market. The Moscow Exchange planned to start the trading in 50 most liquid American stocks in the third quarter 2018.

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