On Oct. 23, RUS PRL discussed bill amending law on securities market.
RUS PRL approved bill amending art 42 of law on the securities market in terms of further development and stimulation of growth of non-mortgage securitization market.
Proposals
The bill aims to activate the Russian market of non-mortgage asset securitization - that is, the issue of securities and bonds secured by a bank's loan portfolio.
It creates legal conditions for the implementation of asset securitization in the non-mortgage sector and is intended to increase the interest of market participants.
The bill will facilitate formation of a new source of long money in the financial market.
Also, is envisaged to soften the requirements for the initial creditors regarding the volume of accepted risks on bonds with collateral of a specialized financial company.
Oct. 2024 Law Issued
On Oct. 26, 2024, RUS GVT issued law 355-FZ amending art 42 of law on the securities market, which enters into force on Apr. 24, 2025 (180 days after issuance).
Regulators
RUS PRL
Entity Types
Bank
Reference
PR law 355-FZ, 10/26/2024; PR, 10/23/2024; Bill 532749-8
