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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

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 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 ... ... effectiveness of measures taken by the agency to achieve the goals of bankruptcy proceedings. Recall that the relevant draft law was introduced in January. It is proposed to amend the laws on bankruptcy and deposit insurance. The bill also gives creditors ...

BANKS WILL INFORM YOU ABOUT THE END OF THE DEPOSIT PERIOD

The Central Bank (CB) recalled the entry into force of a law obliging banks to inform customers about the expiration of their deposits. As specified in the Central Bank, inform the depositor about the end of the term no later than five days in advance. Thanks to the innovation, the citizen will be able to make decisions ...

THE CENTRAL BANK IS PREPARING CHANGES ON THE INCREASE IN FINES FOR BANKS FOR FRAUD

The Bank of Russia plans to increase fines to banks for defrauding customers to 0.1% of capital. This is reported by Izvestia, citing sources close to the Central Bank. According to the publication, the fines being developed by the Central Bank for unscrupulous banks will be comparable to penalties ...

THE LITERACY TEST WAS PROPOSED TO BE MADE MANDATORY WHEN RECEIVING THE FIRST LOAN

The State Duma proposed to make a mandatory financial literacy test for citizens applying for a loan for the first time. The author of the initiative is Alexander Demin, deputy head of the New People party. According to TASS, the corresponding proposal was sent by the State Duma deputy to the head of the Central Bank, Elvira Nabiullina. According to Demin, the literacy test should include information about the actual amount of overpayments and the situation in the economy. In addition, it should...

FINANCIAL OMBUDSMEN WILL BE INVOLVED IN HELPING DEBTORS

The Public Council under the Financial Commissioner's Office is preparing a draft law on the participation of a financial ombudsman in the pre-trial settlement of disputes on loan debts between banks and citizens. This is not his authority at the moment. As explained by Financial Commissioner Viktor Klimov, on average, 1.8 loans per citizen, over 11 million people have three or more loans. According to Klimov, in case of default, both the lender ...

BORROWERS WILL BE WARNED ABOUT THE CRITICAL GROWTH OF DEBTS

Starting in 2024, over-indebted Russians who want to take out another loan or loan will be informed about the high risks of debt burden. The relevant law came into force on January 1. The new law stipulates that banks and microfinance organizations (MFOs) are required to calculate the debt burden indicator (the ratio of monthly payments on all loans to the client's income) for each possible borrower. If the indicator is more than 50%, then the citizen should ...

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