The Central Bank can use repurchase of OFZ bonds in the volatile market

© RIA Novosti / Natalia to Seliverstova in fotobanka the building of the Central Bank of the Russian Federation. Archival photoThe Central Bank can use repurchase of OFZ bonds in the volatile market© RIA Novosti / Natalia to Seliverstova the image Bank

Redemption of Federal loan bonds (OFZ) with market can theoretically be used by the Bank of Russia in case of sharp spike in financial volatility, the Ministry of Finance to resort to this tool has no plans, said the Director of the Department of state debt and state financial assets of the Ministry of Finance Konstantin vyshkovsky, speaking at a Moscow financial forum.

The Ministry of Finance and the Bank of Russia in case of a stressful situation on the OFZ market can support him by purchasing bonds, said on Thursday Deputy Minister of Finance Vladimir Kolychev, speaking at the same forum.

According to Vyshkovsky, under stress we mean a situation of a sharp increase in volatility in the financial market, and it about using this tool on a regular basis is not. «This is only a tool for point removing excessive volatility in the market,» he said.

«This tool is not used and was not used. Theoretically can be used. In my opinion, we must first talk about the activities of the Central Bank,» said vyshkovsky. «This may be one of the tools to answer, first of all, the Central Bank as a regulator of sudden bursts of volatility associated primarily with the influence of external factors», — he explained.

«From the Ministry of Finance have no such plans, even discussions on this subject have not performed… Even tools from the perspective of the regulatory framework necessary for budgetary allocations is not,» the official added.

RIA Novosti media group «Russia today» is the General information Agency of the third Moscow financial forum.