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Report: Agency for Housing Mortgage Lending gets dealer license for MBS market

The Russian central bank issued JSC The Agency for Housing Mortgage Lending a license to carry out dealer activities on the mortgage-backed securities market.

The license will grant the agency direct access to trading on the exchange and enable it to support the mortgage-backed bond market and improve liquidity of the bonds.

Thanks to the license, the agency will also be able to reduce costs by saving on brokerage commissions, Kommersant said Jan. 27.

Increasing liquidity of mortgage-backed bonds on the secondary market is one of the conditions to attract banks' investments into these instruments, the newspaper noted. In November 2016, Russia reduced capital risk weighing for the AHML-issued and -guaranteed mortgage bonds from 100% to 20%, partly with a view to encouraging banks to invest more in those bonds, Kommersant reported.