Goskorporatsiya Vnesheconombank (VEB) may suspend work if the government does not allocate it to 350 billion rubles. It says the newspaper Vedomosti.
According to the publication, chairman VEBa Vladimir Dmitriev wrote to Prime Minister and Chairman of the Supervisory Board of Bank Vladimir Putin a second letter with a request to increase the authorized capital goskorporatsii. Earlier Dmitriev asked Putin to allocate financial institution is much larger - 950 billion rubles, but the Ministry of Finance stated that the requested VEBom amount is too high.
According to the VEBa on November 20, its authorized capital amounted to 262.5 billion rubles. "With this level of EBV forced to halt its activities to bring its capitalization in line with the scale of operations", - writes Dmitriev, in a letter to Putin. EBV also asked the government gosgaranty for all its operations. This is about 1.85 trillion rubles, which is not provided for the allocation of state budget.
In the Russian Economy Ministry has stated that the supervisory board VEBa not allow stopping work goskorporatsii.
In a time of financial crisis, the Government gave a variety of Web functions to support the Russian economy. Through the structure of government is considering applications for refinancing debts of companies to foreign banks. For this purpose allocated $ 50 billion. In addition, VEB investing public funds on the open market to maintain demand for Russian equities and Russian banks to issue subordinated loans to 450 billion rubles.
The Government has reformed Vneshekonombank in 2007, turning it into the Development Bank. EBV can work on the Russian market without a license from the Central Bank and lend to companies not respecting the rules of CB.
Sunday, December 7, 2008
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