Following the news of the partial mobilization in the Russian Federation, the Russian Central Bank called on credit institutions -both banks and MFOs- to weigh the possibilities of granting mobilized citizens credit vacations (deferred or reduced payments) to all kinds of loans.
The Central Bank urged credit institutions to “meet with borrowers” mobilized in accordance with the decree of the President of the Russian Federation, Izvestia writes.
It is also desirable that banks and MFIs develop special loan moratorium and/or restructuring programs and/or adapt current programs according to current requirements.
“At the same time, banks, MFOs and credit bureaus should not view these restructurings as worsening a borrower’s credit history. In the future, such special credit holidays may be enshrined in the law, ”the instructions were supplemented by the Central Bank of the Russian Federation.
Also recommended:
- not accrue penalties under the contracts (fines and penalties),
- not require early fulfillment of obligations,
- suspend the collection of overdue debts or home mortgages,
- Do not vacate mortgaged homes that have been previously repossessed.
It is expected that the same rights will be granted to the relatives of mobilized citizens if they are in the care of persons called to carry out their military duties.
Author:
Ekaterina Alipova
Source: RB
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