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'Bad debt' list to help support for enterprises, not banks — deputy finance minister

January 28, 2015, 11:53 UTC+3 MOSCOW
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MOSCOW, January 28./TASS/. The 'bad debt' list is aimed at preventing the bankruptcy of large enterprises, and not the capitalization of banks, Deputy Finance Minister Alexey Moiseev said.

"This measure is not aimed at bank capitalization, it is aimed at solving the problems of enterprises. This is not a classic bank of bad assets, which is used to capitalize banks. This is to help prevent bankruptcy of large enterprises, which can be a problem," Moiseev said.

However, he has not yet explained how the measures will be implemented. The funding for the measure has not been specified.

Russian's Finance Ministry and Economic Development Ministry has until January 30 to prepare 'bad debt' list and report back to the government. This is one of the priority measures written in the anti-crisis plan published on the Ministers’ Cabinet website.

The task is aimed at improving the banking system stability, as well as the improvement of the real sector of the economy.

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