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MOSCOW, November 19 (RIA Novosti) - Russia"s...

MOSCOW, November 19 (RIA Novosti) - Russia"s Central Bank has cut its investment in bonds with U.S. mortgage agencies Fannie Mae and Freddie Mac from $65.6 billion to $20.9 billion as of November 1, the bank"s chairman said on Wednesday."The amount of Bank of Russia investments has decreased as the securities have been repaid," Sergei Ignatyev said, speaking in Russia"s lower house of parliament. The banker said the U.S. Treasury move that saw both mortgage agencies come under U.S. government conservatorship in September 2008 guaranteed that they would honor their financial commitments. The Central Bank was not currently selling Fannie Mae and Freddie Mac bonds, nor had it signed any new deals with either of the two mortgage financiers, Ignatyev said. Finance Minister Alexei Kudrin earlier said bonds held by the Central Bank in the two U.S. mortgage giants yielded over $1 billion in the first half of 2008. The U.S. government-sponsored firms, which together own or guarantee $5 trillion in U.S. mortgage debt or almost 40% of the market, were taken over by a federal regulator early in September to prevent their possible collapse amid the growing credit crunch. Freddie Mac, the second-largest U.S. residential mortgage financier, asked the U.S. Treasury last Friday to provide $13.8 billion after posting third-quarter losses of $25.3 billion.


Tatjana Hufner of Germany won the luge singles...

Tatjana Hufner of Germany won the luge singles competition on Wednesday, bringing her country to the very top of the overall medal count.


Mirax Group will continue the construction...

Mirax Group will continue the construction of a Moscow skyscraper set to be one of the tallest buildings in Europe, an executive said on Wednesday.

Real Estate

The Investigation Committee at the Russian...

The Strasbourg-based European Court of Human Rights has to deal with numerous complaints from Chechens, whose relatives disappeared in the late 1990s-early 2000s during the two separatist wars.

Russia has lost the vast majority of cases so far. Court rulings often state that the Russian authorities failed to conduct effective investigations into disappearances in the North Caucasus.

"We still face numerous complaints to the Strasbourg court. People are not always satisfied with our work in that direction, so we should do our best to carry out proper investigations and to establish all circumstances surrounding cases of missing people," Alexander Bastrykin said.

He said that the department "will investigate such cases in close cooperation with the affected families."

"Only such approach will demonstrate to the world community the effectiveness of Russia"s law enforcement and judicial systems," Bastrykin added.

Moscow formally ended its decade-long

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Aussie expat commented:

Information is relevant and totally up to date on real estate. I am sure it will help the people and this blog will enhance their knowledge. Nice work.

09.05.2012


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