MICEX official comments on state saving bonds

The first issue of state savings bonds may take place in July 2004, MICEX deputy general director Valery Petrov declared at a conference devoted to Russia's pension system. As reported earlier, long-term pension assets will be invested in state savings bonds. According to Petrov, the maturity of the bonds will amount to 10 to 15 years. "We will receive a liquid instrument to work with pension funds," Petrov said.

The government considered draft regulations on the terms of the issue of state savings bonds in March, 2004.