19.10.2007 /Home mortgage
 MBRD Holds a Roundtable on US Mortgage Crisis
19.09.2007 September 19, 2007, Savoy Hotel, Moscow Bank for Reconstruction and Development held a roundtable “US Mortgage Crisis and Its Influence on the Russian Financial Market”. The event was hosted by Mr. Sergey Zaytsev, MBRD’s Chairman of the Management Board, Mr. Dmitry Ladikov-Roev, MBRD’s Deputy Chairman of the Management Board, Mr. Victor Shpringel, MBRD’s Head of Strategy and Corporate Development, and visited by Mr. Alexander Handruev, President of “Russia” Regional Banks Association, Mr. Pavel Medvedev, Vice-Chairman of the State Duma Bank Committee, Mr. Evgeny Nadorshin, Senior Economist of “Trust” Investment Bank, Mr. Vasily Solodkov, Director of the Banking Institute of the State University Higher Scholl of Economics, Mr. Dmitry Orlov, General Director of Politic and Economic Communications Agency, Mr. Mikhail Delyagin, Researcher of Globalization Problems Institute, Mr. Cristopher Winn, Vice-President of Greenwich Financial Services, L.L.C. Despite discussion on what triggered the US mortgage crisis and probability of this scenario for Europe and Russia, the experts also touched upon the following issues: - Analysis of the Russian financial market in terms of liquidity: trends and forecasts;
- Long-term influence of the financial crisis on the mortgage and consumer lending market;
- Solvency of Russian companies and banks in servicing their foreign debt.
Mr. Sergey Zaytsev, Chairman of the Management Board of MBRD, said, “The current situation requires a more balanced and better grounded approach to be applied by banks and regulators in risk assessment. Events in the USA have to teach us a more thorough borrower risk assessment in mortgage and other retail lending programs. 0.5 drop of Fed rate will temporarily stabilise the market, more specific forecasts can be made after the disclosure of the financial year results from the leading banks”.
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