Agent for the Government
- Vnesheconombank acts as an agent for the Government of the Russian Federation in accounting-settlement and information-analytical servicing of government debt and government foreign financial assets as well as in recovering debts of legal entities, Russian constituent entities and municipalities under monetary obligations to the Russian Federation. Moreover, VEB is an agent for extending and executing government guarantees of the Russian Federation.
- Since 2003, Vnesheconombank has been acting as the state managing company responsible for trust management of Russian citizens’ pension savings funds. The state managing company’s top-priority objectives are to ensure the protection of pension savings funds transferred into trust management, minimize market risks upon investing pension savings funds. As of 31.12.2011, the yields from investing the said assets under the extended portfolio were 5.47%, under the government bonds portfolio – 5.90%. Under the yield level rating compiled by the Russian Pension Fund Vnesheconombank’s portfolios took third place (the government bonds portfolio) and fourth place (the extended portfolio).
- In 2010, VEB’s Supervisory Board approved a mechanism for refinancing mortgage credits through investing a funded part of pension savings funds and Vnesheconombank’s own funds in mortgage-backed bonds in order to encourage mortgage lending and make it more affordable for people at large. A decision was made to invest funds in the total amount of 250 billion rubles under the Program.