It’s necessary to issue mortgage securities worth 1 bln roubles to support the Russian construction sector.
This proposal was made by the Deputy Minister of Construction, Housing and Utilities of Russia, Oleg Betin, at the Russian Investment and Construction Forum in Moscow. According to him, Russian banks don’t have sufficient resources for construction at present.
“The Housing Mortgage Finance Agency is offering to print not money, but securities. There is a risk. However, the probability of a positive outcome is very high”, said Oleg Betin.
To remind you, the deputy director of the Housing Mortgage Finance Agency, Sergey Kuznetsov, has already said before that his agency is planning to launch a quantity of mortgage securities in Russia.