SKB-Bank’s bonds get on Lombard List

8 December 2008 (07:42)

SKB-Bank’s bonds (state file number 40100705B) have been included in the Bank of Russia’s Lombard List.

This inclusion signifies the Bank of Russia’s recognition of SKB-Bank’s stock’s quality. The Central Bank of Russia reports the inclusion criteria are based on the compliance of the issuer’s rating obtained from at least one of the foreign agencies (Standard & Poor's, Fitch Ratings or Moody's Investors Service) with that determined by the Bank of Russia, the bank’s press officer reports.

‘This means that the Bank of Russia gives a very favorable assessment of SKB-Bank’s bonds and indicates that banks having SKB-Bank’s securities are allowed to borrow money from the Bank of Russia using the bond currently operated with at MICEX as their collateral. The bank’s highly lucrative bonds are therefore getting even more appealing to investors, since they manage to offer both great dependability and good-looking investment opportunities,’ the press officer notes.

The Lombard List is a list of securities the Bank of Russia accepts as loan collateral. The Lombard transactions are some of private banks’ principal refinancing mechanisms.

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