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THE CENTRAL BANK AND THE NATIONAL SETTLEMENT DEPOSITORY AGAINST EUROCLEAR BANKRUPTCY

The Central Bank and the National Settlement Depository (NSD) did not support the bankruptcy of the European depository Euroclear in court. According to Interfax, the Bank of Russia believes that Euroclear has no signs of insolvency according to the criterion ...

THE CENTRAL BANK FILED A BANKRUPTCY LAWSUIT AGAINST THE MOSCOW BANK GARANT-INVEST

The Central Bank has filed an application for the insolvency of Garant-Invest Bank with the Moscow City Arbitration Court. This decision was made three weeks after the credit institution lost its license. The claim was registered on January 14 (case no.A40-3833/2025)....

THE CENTRAL BANK PROPOSED TO CHANGE THE STRUCTURE OF THE MICROFINANCE MARKET

... consumer loans is provided at the highest possible interest rate, regardless of the "quality of the borrower." A third of them are reissued, and unpaid interest is transferred to the body of the new loan. Thus, Russians find themselves in a debt spiral. The Central Bank proposes to make a limit on the number of simultaneously valid contracts – 1 loan to maturity. Also, as part of the reform, they want to introduce a cooling–off period between receiving a new loan - at least 3 calendar days. It is also planned ...

THE CENTRAL BANK: COMPANIES HAVE INCREASED DEMAND FOR LOANS

Last month, the demand for loans from legal entities increased, the banking sector portfolio grew by 1.8% in March, the Bank of Russia said. The central bank also clarified that loans were taken mainly by oil and gas, transport and construction organizations. One of the reasons for the increase in demand is the need to pay large taxes, such as income tax and additional income tax for 2023, VAT ...

THE CENTRAL BANK INTENDS TO TIGHTEN ITS APPROACH TO CREDIT RISKS

The Bank of Russia is going to join the fight against unfair credit risk management, when financial institutions transfer debt from problem borrowers to third parties to conceal real risks. The Central Bank has published on its website a draft amendment to Regulation No. 590-P, which defines the procedure for the formation of reserves for theoretical loan losses. The draft amendments suggest that loan servicing cannot be considered appropriate ...

ALL-TIME MAXIMUM DEBT BURDEN OF POPULATION IS REPORTED IN RUSSIA

The debt burden of Russians, according to the Central Bank, has reached a record high. According to the information provided in the regulator's review, the amount of debt reached 11.9%, having updated the figure of March, according to the results of the first quarter of this year. According to ...

THE NUMBER OF RUSSIANS WITH LOANS HAS REACHED 50 MILLION

The number of citizens with loans has reached 50 million, the Bank of Russia cited statistics as of January 1, 2024. This is more than 40% of Russian citizens over the age of 16. The total amount of debts of Russians in 2023 increased by 6.4 trillion rubles. As the Central Bank notes, the number of citizens using credit products continues to grow. At the beginning of this year, their number reached 50 million people. Of these, 42 million people owe only to banks, 3.9 million – to banks and microfinance organizations,...

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