Russian Banks Prefer To Invest In Securities Of Russian Regions

Russian banks refuse from foreign securities, increasing their investments in securities of the regions and republics of the Russian Federation. The volume of investments of Russian banks in securities of regions and republics went up 2.3 times as much since the beginning of this year, the public relations department of the Central Bank of Russia reported in an interview with RosBusinessConsulting. As of October 1, the total volume of these investments amounted to 6.312bnrubles, which is 3.570bn rubles less compared to the beginning of 2001. However, in general the share of investments in securities of the regions makes only 1.6% of all investments of Russian banks. At the same time, Russian banks loose their interest in foreign securities. The volume of investments in them reduced twice as much this year and amounted to 6.409bn as of October 1.