Federation Council approved a law on mortgage securities

The Federation Council has approved changes to the law on mortgage securities, aimed at improving the production and circulation of securities.

Amendments to the Law "On Mortgage Securities" include the possibility of emission of two or more bond issues on the basis of a mortgage. Thus, investors are given an opportunity to purchase mortgage securities of different levels of risk and return.

By law, the issuer shall have the right to early repayment of mortgage-backed bonds in the cases stipulated by the decision on their release.

In addition, abolished mandatory credit life insurance, resulting in simplified extradition procedure and decreases the cost of obtaining a mortgage.

According to IA Rosbalt