Mortgage Corporation’s special purpose entity to release securities

Economy
ooluun@montsame.mn
2017-04-17 11:34:11
Ulaanbaatar /MONTSAME/ On April 13, the Financial Regulation Commission (FRC) granted a financial activity license to ‘MIC Active Twelve Months”, a special purpose entity established by the "Mongolian Mortgage Corporation“ company last August and registered its securities. 
‘MIC active twelve months” company is releasing mortgage loan guaranteed securities of 2.7 million with nominal value of MNT100 000 and 30-year term. The Commission assigned the two companies to insure the loan package for long term and in accessible way, meeting the interest and demand of the insured.
During its meeting,  FRC resolved 30 issues, including merger approval of “Standart Agriuculture Group”  LLC to “Uujimkhangai” JSC, “Anumargad erdene nonbanking financial institution”LLC to “Diamond capital nonbanking financial institution” LLC, “Tuusjam nonbanking financial institution” LLC to “Ashivtuvshin finance nonbanking financial institution” LLC. The commission also granted licenses to five nonbanking financial institutions and 8 savings and credit cooperatives.