RIA NOVOSTI. The department for licensing and financial rehabilitation of lending institutions at the Central Bank of Russia took a decision to declare invalid and cancel state registration of the bond issues performed by Dalnevostochny Bank (Rub 1.5 bln), Petrocommerce (Rub 5 bln), KIT Finance Investment Bank (Rub 5 bln and Rub 3 bln) and Uniastrum Bank (Rub 2 bln), reports in the Vestnik of the Bank of Russia said.
Dalnevostochny Bank’s bond issue (#40100843V) was registered on November 14, 2007, while those of Petrcommerce (#40301776V) and Uniastrum Bank (#40302771V) passed state registration on November 16, 2007. KIT Finance Investment Bank’s bond issues (#40301911V and #40401911V) were also registered on November 16, 2007.
Amid the growing financial crisis and global liquidity crunch starting this August most Russian banks have been forced to abandon plans to place already registered bond issues. This means that lending institutions were deprived not only of the chance to resort to external borrowings, but also of the options to raise funds on the domestic debt market.
