The Institute for the Development of Housing Construction in Russia, DOM.RF, plans to add a liquidity ratio to the financial stability standards of the state-owned company. DOM.RF Bank Chairman of the Board of Directors, DOM.RF Deputy General Manager Artem Fedorko, made such a proposal at the Financial Market Committee meeting.
According to him, deputies of the State Duma may consider amending the Law No. 225-FZ “On promoting the development and efficiency of management in the housing sector and amending certain legal acts of the Russian Federation.”
“These changes will demonstrate to investors the credibility and possibility of building a stable passive foundation for DOM.RF as part of the fulfillment of its functions and duties for housing construction, the mortgage loan market and the financing of home developers.” Fedorko noted.
In addition, the Chairman of the Board of DOM.RF Bank proposed transferring the authority to set the values of the standards to the Russian government. He believes this measure can provide a flexible and rapid response to changes in the economic situation. It also corresponds to the practice of regulating credit institutions.
“These proposals were sent by DOM.RF to the Russian Ministry of Finance, the Russian Ministry of Construction and the Bank of Russia,” Fedorko said.