OREANDA-NEWS. Agency for Housing Mortgage Lending (AHML) has introduced changes to key terms of provision of guarantees of obligation fulfilment in the form of a guarantee on mortgage-backed bonds issued under the laws of the Russian Federation.

In accordance with the introduced changes the guarantees can be granted for mortgage-backed bonds, the issuers of which are not only mortgage agents, but also direct lenders as well. These amendments are made​​ including in connection with the imposition of sanctions against a number of banks, participating in the Vnesheconombank's Programme of Investments in Affordable Housing Construction and Mortgage Lending for 2010-2013.

"The participation of AHML as a guarantor for balance issues of mortgage-backed bonds will allow to prepare the issues of bonds in time, as foreseen by the programme, and will ensure compliance with contracted obligations of credit institutions, participating in the programme, without introducing any changes to the investment declaration of the Vnesheconombank", - said the Executive Director, the Head of AHML Capital Division, Natalia Koltsova.

The guarantee implies a joint and several liability of AHML under the bonds issuer to pay the outstanding nominal value of the bonds and accrued interest (coupon) income derived from them. Mortgage-backed bonds, collateralized by AHML guarantee, can be included to the Lombard List of the Bank of Russia without additional requirements to the existence of international ranking, enabling the initiating bank to receive additional liquidity through refinancing of mortgage-backed securities.

Today, the volume of guarantees issued by the Agency on mortgage-backed bonds is about 10.5 milliard roubles.