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Business proposed to introduce the right to refinance preferential mortgages

It is planned to consider the possibility of refinancing preferential mortgages in Russia. The corresponding proposal has already been sent to the government and the Central Bank of the Russian Federation. The idea is to legally give citizens the right to change the preferential rate on an already taken loan if it is subsequently reduced. At the moment, such a right is prohibited, and high interest rates on loans ...

Arbitration Court declared TEMBR-Bank bankrupt

... court nevertheless came to the conclusion that it was necessary to introduce bankruptcy proceedings. The bank lost its license in the fall of 2020. Then a court decision to liquidate the financial organization was made. The process was initiated by the Central Bank of the Russian Federation, and one of the reasons for this decision was the protracted corporate conflict. At that time, the balance of TEMBR-Bank's funds on a correspondent account with the Main Directorate of the Bank of Russia was less ...

Central Bank of Russia reminded insurers how to work under conditions of bankruptcy moratorium

... exempt them from fulfilling their obligations to customers. The introduced norm means the impossibility of collecting debts by creditors both in the framework of judicial bankruptcy and enforcement proceedings, including issues of accruing penalties. The Central Bank of the Russian Federation has threatened insurers with the use of supervisory response measures in situations where they decide to violate the procedure for paying customers. Such behavior can be regarded as abuse and violation of consumers’ ...

Central Bank of Russia announced preferential loans for SMEs

The Central Bank of the Russian Federation, along with the Cabinet of Ministers, developed a plan to support SMEs. One of the measures should be a program of concessional lending in a number of banks. The total amount of funding under the program exceeded ...

State Duma is preparing a law on extrajudicial freezing of accounts

... financial market, work on the bill is being actively carried out, the document may be submitted for consideration to the lower house of parliament as early as this spring, Gazera.ru reports . Despite the good intentions of the authors of the document, the Central Bank of the Russian Federation has already expressed concern about the initiative. According to the regulator, the innovation may become grounds for abuse, in addition, the legislators have not provided a judicial mechanism for challenging the ...

Control over circulation of cryptocurrencies in Russia may be transferred to banks

... cryptocurrency trading. The department made a proposal not to introduce a complete ban on operations, but to provide legislative tools for regulating and controlling the industry. It was not easy to decide the fate of cryptocurrencies in Russia. The Central Bank of the Russian Federation earlier spoke in favor of introducing a complete ban on the operations with them, but the Ministry of Finance, in turn, believes that this will destabilize the industry and increase the number of fraudulent activities....

Russia may introduce a ban on withdrawing money abroad

... withdrawal of funds under an executive document in favor of foreign credit institutions. Thus, the state plans to resist the withdrawal of Russian money under the guise of debts to foreign partners. The legal development has already been supported by the Central Bank of the Russian Federation and Rosfinmonitoring, however, the representatives of business and the banking sector fear that the norm will create obstacles for bona fide counterparties. At the moment, the draft law is going through the stage ...

Central Bank of Russia proposed to oblige banks to return funds stolen by fraudsters

... certain amount that the banks will have to return to the clients in a situation where the money is stolen by fraudsters. But in order to receive money, a person must report what happened within 24 hours from the moment the funds have been debited. The Central Bank of the Russian Federation provides for the return of the entire amount if the bank has a low level of protection against fraud. The initiative is currently under discussion.

What laws come into force in December

From the beginning of winter, a number of laws is about to come into force in Russia, and the most significant of which are here in our selection. Banks will no longer be able to ‘put marks’ against the borrowers’ names We are talking about the marks of the borrower's consent to provide him/her with additional services in the loan agreement. At the moment, banks can put such ‘tmarks’ on their own, however, after the entry of the law into force, the borrower will have to personally do this and...

Laws on digital ruble will be developed in Russia

Large-scale work to change the legislation in the field of currency regulation is about to take place in Russia. We are talking about a new form of currency - the digital ruble. A test project for its implementation will start in a couple of months. It is assumed that as a result of its completion, several federal laws for the legal regulation of legal relations that have arisen will undergo changes. Several departments announced their intention s to participate in the legislative work. Among...

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