World Currency Market » President of the Russian Federation

Written by admin on June 10th, 2009

President of the Russian Federation Vladimir Putin has approved the Plan of Action aimed at the improvement of the situation in the financial sector and individual sectors of the economy ", prepared in accordance with the instructions of the President of the Russian Federation.

in the development of financial and banking system in particular, asked:

1. Improved procedures for the reorganization of commercial organizations, including credit, by deleting the unconditional right of creditors to early debt repayment in the event of a reorganization;

2. Improvement in the insolvency of non-bank financial institutions;

3. Improving the collateral legal affairs during bankruptcy, including simplifying the mechanisms of recovery and implementation of the mortgaged property through the imposition of court and the imposition of unconditional repayment claims of secured creditors;

4. Increased ability to invest pension savings insured individuals, not the right choice of investment portfolio (management company) or non-state pension fund;

5. Making the admission of professional securities market refinancing operations by the Bank of Russia to transfer the functions of supervision and regulation of economic indicators professionals Bank of Russia;

6. Lifting of restrictions related to the size of the authorized capital and the value of net assets management companies, in order to improve the ability to attract financing, including:

- revision of the existing restrictions on the payment of the authorized capital by set-off to the public;

- expanding opportunities for the issuance of unsecured bonds of society;

- revision of existing ways to protect the rights of creditors with a decrease in authorized capital and lower net asset value;

7. Develop mechanisms to reduce the risk of abuse by the owners and managers of organizations in anticipation of bankruptcy and in bankruptcy;

8. Introduction depository institution accounting mortgages, reduce the cost of their treatment, in order to facilitate the securitization and refinancing of mortgages;

in support of domestic demand in particular are planned:

1. Ensuring priority purchases of domestic goods to the public and municipal program with the allocation of items of mass production;

2. The increase in 2008 - 2009 years amounts subsidizing Russian organizations exporters of industrial products for the reimbursement of the cost of paying interest on loans obtained from the Russian credit organizations to produce products for export;

3. Determination of commercial banks (including banks with state participation), using various forms of state support (including obtaining subordinated loans), credit businesses military-industrial complex, agriculture and small and medium-sized businesses;

4. Recommendations commercial banks (including banks with state participation), using various forms of state support (including received subordinated loans), as a matter of priority to direct funds to support the following sectors: automotive, agricultural, air transport, housing;

5. Simplifying procedures for granting state guarantees;

6. Preparation of proposals on the provision of the 2009 Russian state guarantees for loans, at companies performing public order, including the state defense order;

7. Enhanced supervision by the Bank of Russia for the work of government banks that received public support (the appointment of a special representative of the Bank of Russia);

In the area of labor market and social support for citizens expected to conduct weekly monitoring of subjects of the Russian Federation dismissal of employees in connection with the elimination or reduction in the number of organizations or state employees, as well as part-time workers.

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