First auctions for purchase of stressful assets to be held in February
Astana. January 15. Kazakhstan Today - The Fund of stressful assets will hold the first auctions for purchase of pools of credits under stress in the beginning of February of 2009. The chairman of the Fund of National Welfare Samruk-Kazyna, Kayrat Kelimbetov, informed at the press conference, the agency reports. The chairman of the Fund of National Welfare Samruk-Kazyna stated that "in the near future this fund will be capitalized up to the necessary sum, as a matter of fact, one billion dollars." "The fund has begun the first active negotiations with the banks," he noted. According to K. Kelimbetov, the negotiations have demonstrated that the stressful assets planned for sale by the banks are the assets, such as pools of hypothecary credits, pools of credits, given to small and medium scale businesses, and pools of corporate credits.
Resourse: Kazakhstan Today