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BANKS HAVE RAISED CREDIT CARD RATES

The largest Russian banks have increased their credit card rates. In a number of credit institutions, credit card rates have exceeded 50%. According to Rossiyskaya Gazeta, the increase in percentage points applies to new bank contracts. So, in VTB, the interest rate on ...

BANKS HAVE INTRODUCED A NEW COMMISSION FOR MORTGAGES

Since October, Russian credit institutions have been introducing a new commission – about 6.5% of the loan amount - on mortgages under market programs. The fee will apply to housing developers or borrowers themselves. The new mortgage commission will affect transactions for the purchase of primary and secondary housing, as well as private homes. It already operates in VTB, Sberbank and Alfa-Bank, Kommersant reports. As experts explain, such a fee is a necessary measure. Earlier, the Bank of Russia...

MBANK HAS SUSPENDED TRANSFERS THROUGH RUSSIAN BANKS

... Payments are not available in both directions. According to RBC, transfers have been suspended, including for Sberbank, T-Bank and MTS Bank. Incoming payments will be made through credit institutions that are not under sanctions. In total, 21 commercial banks and more than 300 of their branches operate in Kyrgyzstan today.

RUSNANO REPAID DEBTS TO BANKS

Rusnano paid 80% of the accumulated debt to creditor banks ahead of schedule. The company was able to repay the debt due to the sale of part of the asset portfolio. The discount amount, taking into account the savings on interest, amounted to 40% when making payments, Interfax writes. Recall that in the ...

THE STATE DUMA ASKS TO FINALIZE AMENDMENTS TO ACCELERATE THE SALE OF ASSETS OF BANKRUPT BANKS

The State Duma Committee on Property Issues has prepared a positive opinion on amendments on the possibility of applying compensation in bankruptcy of financial organizations to repay claims of the first stage. However, the bill needs to be finalized, the ministry noted. In conclusion, it is said that the bill will speed up the completion of bank bankruptcy through financial recovery by, for example, reorganizing or changing the controlling owner, etc. At the beginning of the year, a bill on improving...

THE STATE DUMA SUPPORTED THE PROJECT ON EXPANDING THE POWERS OF THE DIA TO CLEAN UP THE BALANCE SHEETS OF BANKRUPT BANKS

The State Duma Committee on the Financial Market has supported the bill (N538767-8), which allows the use of compensation for repayment of claims of the first stage in case of bankruptcy of banks. These include debts to the Deposit Insurance Agency (DIA). As explained in the committee, the initiative will contribute to improving the effectiveness of measures taken by the agency to achieve the goals of bankruptcy proceedings. Recall that ...

UAE BANKS CLOSE RUSSIAN ACCOUNTS

Major credit organizations of the United Arab Emirates (UAE) have limited settlements with the Russian Federation, fearing secondary sanctions. Banks are actively closing accounts for organizations and individuals. To date, UAE banks do not accept funds and do not make payments in the opposite direction, Vedomosti writes. In addition, they close accounts for enterprises owned by citizens of ...

BANKS OBJECT TO THE DRAFT LAW BANNING FLOATING RATES

... will lead to losses for credit institutions. In addition, as Kommersant writes, the council does not agree with the requirement to notify about a change in the payment schedule 15 days in advance. The organization believes that it will be difficult for banks to fulfill such requirements. In return, it is proposed to notify within five days after the start of the modified rate. Photo: Freepik

BANKS ARE WAITING FOR THE EXTENSION OF THE LIMIT ON IT MORTGAGES

Credit institutions are waiting for the extension of the limit on IT mortgages. Vedomosti writes about this with reference to representatives of a number of major Russian banks, including Sberbank, VTB and others. At the moment, due to the exhaustion of the limit, Sberbank, MTS Bank, Bank St. Petersburg have suspended the issuance of mortgages and the collection of applications. VTB has not completely stopped working ...

THE MINISTRY OF FINANCE WANTS TO OBLIGE BANKS TO SPECIFY THE CLIENT'S RESIDENCE BY GEOLOCATION

The Ministry of Finance has developed a draft government decree that obliges banks to check the tax residency of customers by geolocation. This is reported by Izvestia. As the authors of the initiative explained, the location will be monitored when entering the online bank. If it turns out that a citizen lives abroad, the bank ...

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