Yerevan /Mediamax/. The Central Bank of Armenia carries out work on implementation of new alternative tools##, regulating the sphere of securitization of banking assets.

Mediamax reports that the member of Armenian CB Board Karine Minasian said this during the debates, which took place in Yerevan today, on “Securitization as a necessary took for increasing liquidity of banking assets. Is this correct?”

According to Karine Minasian, in the nearest future CB will propose a mechanism of issuing mortgage bonds by banks and credit organizations, as well as the tool of the so-called “clear real securitization”, which provides for real sale of assets to an enterprise, specially established for that purpose.

CB representative stressed that the tools in the process of elaboration will be proposed as alternative variants, and their application will assist the expansion of business and diversification of every possible risks.

Director of “Capital Assets Management” Investment Company Tigran Karapetian, who acted as opponent, noted that as for today securitization bears in itself certain risks, both of market and legal nature. Besides, to realize the given prospect, it is necessary to implement international standards of financial accounting.

In the end of the discussions, which were held in “English debates” format, a voting took place, which revealed equal distribution of “for” and “against” votes among the specialist present. Journalists, who voted separately, were “against” the implementation of the securitization tool.

ArmRating independent rating agency and the Union of Banks of Armenia organized the debates.