The Ministry of Finance plans to return to the OFZ market in September
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The Russian Ministry of Finance intends to return to the federal loan bond (OFZ) market in September and plans to issue small volumes of securities – for 10-20 billion rubles. According to Deputy Finance Minister Timur Maksimov, the agency also wants to issue bonds in yuan. While the project is under active development.
“We will act with the tactics of small steps. We start working in the third quarter, this month we plan to return to the market,” said Mr. Maksimov at the Eastern Economic Forum (quoted by Prime).
He said that the Ministry of Finance does not want to offer large volumes, “because no one understands either their capabilities or our long-term development models.” The Deputy Minister of Finance explained that the department will test this market with different volumes, different instruments and see what happens to them. He did not name the potential volume of the first placements.
The last time the government placed OFZs was on February 9. Auctions scheduled for February 16 and 22 have been cancelled. It was decided to refuse placement before the end of this year. Finance Minister Anton Siluanov said that in order to resume trading, it is necessary to establish a new budget rule, which was suspended after the imposition of sanctions against Russia.
More on this topic – in the material “Kommersant” OFZ straightened out.
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