“Opening” and Promsvyazbank returned to NWF via VEB subordinated loans
VEB in December 2017 was returned to the national welfare Fund (NWF) 725 million rubles in connection with the refund of subordinated loan to PSB, and in November, the Corporation returned to SWF 6.9 billion rubles in connection with the return subordnirovanny loans “FC Opening”, announced the Ministry of Finance of the Russian Federation.
Returned to the VEB Fund “funds placed on Deposit to provide a subordinated loan promsvjazbanka PSBR in accordance with the Federal law of 13 October 2008 “On additional measures to support the financial system of the Russian Federation” in connection with the early repayment of this loan is PSB in the appropriate amount of 725 million rubles”, reads the message of the Ministry of Finance.
In addition, as the materials of the Ministry of Finance, the national welfare Fund returned 6.9 billion rubles received from VEB in November 2017 in connection with the early repayment of the Bank “FC Opening” subordinated loans.
Vnesheconombank, in accordance with the law for measures to support the financial system during the crisis of 2014 was provided to Bank of Russia subordinated loans. For this purpose on Deposit in the VEB were transferred 450 billion rubles from the national welfare Fund. In total, the program received loans 17 banks to 404 billion rubles, including NOMOS-Bank NMOS(4.9 billion) and Bank of Khanty-Mansiysk (1,995 billion rubles), which later became part of Bank holding company “Opening” and Pervobank (RUB 725 million), was later attached to promsvjazbanka.
The Bank of Russia last year took on the reorganization through a management company of the Fund the consolidation of the banking sector (VCBS) three major Russian Bank. In August and September, the Central Bank announced a reorganization using PCBS of the Bank “FC Opening” and of the Bank, in mid-December — PSB.
Subord from VEB PSB has emerged after the accession of Pervobank, who received it in August 2009 in the amount of 725 million rubles. The loan repayment term expires on 18 December 2019.
According to the adopted in 2017, the Federal law on PBCS subordinated debt rehabilitated banks, in case of their negative capital must either be written off or converted into equity.