Aug 27. The Russian Bank for Development (RBD) will stop managing Russia's external debt only when Eurobonds come under its service, Russian news agencies said with reference to a source in the Russian government. "As for RBD, on August 11, the Ministry of Finance introduced to the government a draft of a decree that the RBD should stop performing its debt agent's functions starting from 31 December 2015. The document may be approved in the next few days", the source said. Minfin has already introduced a similar proposal, which implied, however, that RBD would be released from its debt servicing functions by late 2012. The Act on the Bank for Development implies that RBD should service Soviet Union and Russia's external borrowings and perform other functions related to the organization of accounting, settlement and reconciliation of debt until a date defined by the government. According to an Interfax agent, by late 2015, the government plans to pay off a large part of the Soviet Union and Russia's external debt. "By this time, we will redeem the part of the debt that is difficult to post without the state agent's servicing", the same source said. Starting from 2016, only Eurobonds will have to be redeemed. "Little effort is required to service such a debt, since the payment schedules are defined, everything is automated and we only have to effect payments", the agency's interlocutor said. He also noted that the government did not plan to redeem bonds on a preliminary basis, since it is not profitable nowadays. By late 2015, only 3 issues of Eurobonds will stay in circulation, those to be redeemed in 2018, 2028 and 2030. Russian deputy finance minister, Dmitry Pankin said earlier that after RBD was released from the functions of state agent to service the country's external debt, the payments under the debts might be effected by the Federal Treasury.