Russia strengthens ABS backing with consumer repo

By Tom Porter
27 Mar 2014

Russian banks will be able to use consumer loan ABS as collateral for repo transactions, the country’s central bank has announced, providing more encouragement to those looking to pioneer such securitizations in the market.

First deputy chairman Ksenia Yudaeva informed lawmakers in Moscow on Wednesday of the decision, which may come into effect after July 1 this year when non-mortgage securitizations become legal in Russia.

“The move to accept consumer loan ABS for repo is a very positive sign,” Andrey Suchkov, head ...

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