Year not over for Russian RMBS despite market rout

Russian rouble crash
By Tom Porter
22 Dec 2014

AK BARS Bank has completed a securitization of mortgages through VTB Capital, which GlobalCapital understands will not be the last RMBS of 2014 for Russia’s domestic market even as international investors fear the country will suffer bank and corporate defaults next year.

VTB Capital structured a Rb2.5bn (€36m) deal for AK BARS, which it said was part of the state-owned Vnesheconombank's programme for investing in affordable housing and mortgages from 2010 to 2013.

A fresh plunge in the value of the rouble last week brought back memories of Russia’s ...

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