‘We invest the money we get from our customers in various assets, including the stock market’s ones. We always have our assets re-assessed at the end of the year, so it will be clear by then just how much we have been affected by the present crisis. A portion of the investments has been distributed through bank deposits and real estate, so we hope this money will make up for the possible losses on the stock market,’ UMMC Perspektiva Nongovernmental Retirement Fund’s Deputy CEO Sergey Khalatov said to an UrBC reporter. Russian nongovernmental retirement funds actually tend to see securities as

Profit, a company that provides Magnitogorsk Iron & Steel Works (MMK) with scrap metal, is about to increase its supply to the enterprise. MMK needs a lot more metal stuffs after switching from the open-hearth process to the electric-furnace steelmaking, so Profit employed a new technological cycle to meet this demand. The project was started in 2004-2005, followed by the launch of a new production facility in 2007 and the introduction of more scrap metal-collecting units in the Russian regions. MMK’s PR Department reports the enterprise was successfully certified for compliance with the

On October 17, 2008, Bank24.ru came up with a new policy on cashing the customers’ deposits in before the end of the deposit period. According to the bank’s call center, in case a customer wants to take out the money before the end of the deposit term, he or she must place an application beforehand and is allowed to withdraw no more than 100,000 RUR. The bank used to charge its customers a commission in case they wanted to take out more than 50,000 RUR. The commission came to 10% of the remainder of the sum exceeding this 50,000-ruble limit. At the same time, one now has to wait longer to get

Sverdlovsk Gubernskiy Bank keeps charging the customers who want to cash their deposits before the end of the deposit period a 20% commission. This is charged in case a customer takes out more than 50,000 RUR and comes to 20% of the remainder of the sum exceeding this 50,000-ruble limit. The spokesperson for the bank claims the main idea behind this measure is to prevent the people from taking their money back ahead of time en masse. In fact, a lot of the bank’s customers really did start demanding a cashing of their deposits due to the recent panic that infected the local people for no

Bank Severnaya Kazna keeps imposing limitations on the amount of money a customer can withdraw from one’s deposit before the end of the deposit period. The bank’s press officer reports they still only allow a customer to take out the maximum of 50,000 RUR from one deposit a week. What is more, the application for withdrawing any sum exceeding 10,000 RUR has to be made well in advance. On October 17, 2008, for instance, the appointments were only made for October 21, 2008. Besides, some limitations have also been set on the amount of money one can take off one’s deposit through an ATM; the