ArmInfo. Central Bank of Armenia (CBA) has set a 0% reserve requirement for foreign and national currency deposits for bond offering. CBA press-office told ArmInfo the given changes were made to the Provision No.2 "Regulation of the banking activity and the basic economic standards of banks" at the CBA Board meeting on November 10.
The 0% reserve requirement looks to create more favorable conditions for banks to raise long-term funds which will, in turn, create more opportunities for lending and issue bonds with listing on international exchanges.
The following Armenian banks offer corporate bonds: Araratbank, Ardshinbank, Prometey Bank, and ArmSwissbank. The bonds of Araratbank (ARBKB7 in terms of the national dram and ARBKB6, ARBKB8, ARBKB9 in terms of U.S. dollar) and ArmSwissbank (SWISB1, SWISB2 рSWISB3 in terms of U.S. dollar) are listed on NASDAQ OMX Armenia. Ardshinbank and Prometey Bank list their bonds at international exchanges. In particular, Ardshinbank's first issue in terms of U.S. dollars was at Vienna Stock Exchange. Encouraged with the success, the bank offered a larger volume of bonds at the Irish Stock Exchange.
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