Bloomberg News

Russian Banks Cut Holdings of Bonds for First Time in 4 Months

November 01, 2010

Russian banks, the largest owners of domestic corporate bonds, trimmed holdings of securities for the first time in four months, the central bank said.

Banks cut total holdings of government and corporate debt by 1.6 percent to 4.2 trillion rubles ($136 billion) on Oct. 1, from 4.3 trillion rubles a month earlier, Bank Rossii said in a report published today. Total holdings of securities slid 0.1 percent to 5.2 trillion rubles.

Lenders reduced investments in Bank Rossii bonds, known as OBRs, by 18 percent to 806.9 billion rubles, while boosting holdings of sovereign Russian debt by 3.8 percent to 961.3 billion rubles, according to the report.

Russia had 1,030 lenders on Oct. 1, down from 1,036 a month earlier and 1,058 at the start of the year, central bank data show.

To contact the reporter on this story: Paul Abelsky in Moscow at

To contact the editor responsible for this story: Willy Morris at

Toyota's Hydrogen Man
blog comments powered by Disqus