The Finance Ministry expects the balance of supply and demand on the OFZ auctions

© RIA Novosti / Vladimir Astapkovich in fotomonster Finance Minister Sergei Storchak. Archival photoThe Finance Ministry expects the balance of supply and demand on the OFZ auctions© RIA Novosti / Vladimir Astapkovich the image Bank

The Ministry of Finance of Russia expects the balance of supply and demand at subsequent auctions, OFZ, promises to be tolerant investors, said Deputy Minister of Finance Sergey Storchak on the sidelines of Msfinforma.

«We’ll try to be as tolerant of those investors who actively work with us. And in any case not to make decisions to the detriment of their interests. And for myself hope that the balance of supply and demand will be maintained,» — said Storchak, commenting on the last OFZ auction that was declared invalid.

«Still, investors by the nose we are not going to drive. They also need to plan the financial flows of their own, someone out of the papers, somebody comes in paper,» — said the Deputy Minister.

According to him, before the auction, which was subsequently declared invalid, the Ministry of Finance represented by the public debt Department tested the market. «In the result of their own thought, and the result of the test of the market came to the conclusion that to take on those conditions which were offered by market participants to be profitable. There was a demand, apparently,» said he.

According to Storchak, the market, apparently, for verbal intervention, considered that the Treasury is too cheap is going to stay, and asked for a premium to the current price.

«Tactics like this. This means that our own analysis of market movements have shown that it is pointless to pursue. Well communication with investors. The Department is constantly in touch with potential investors, not only Russian, asked their opinion on how the situation will develop,» — said Storchak.

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

Source