Russian borrowers with several loans at once will be entitled to a comprehensive debt restructuring from all creditors at once. relevant standard released Central Bank (CBRT).
The document describes the complex debt restructuring procedure and recommendations for Russian banks on how to achieve it. The document also states that not only banks, but also microfinance institutions (MFIs) can use these recommendations.
“The debt under the loan agreement can be paid in the following ways agreed by the parties: reduction or cancellation of accrued penalties (in whole or in part); postponing the fulfillment of obligations to repay the principal debt and (or) accrued interest (part of accrued interest) (grace period) with the possibility of simultaneously reducing the periodic amount
payments under the loan agreement and (or) an increase in the total loan term, ”says the material.
In addition, the debt under the loan agreement can be settled by changing the periodic payment date under the loan agreement; termination of obligations under the loan agreement by agreement of the parties by providing compensation to the debtor; Sale of pledged property concluded with the Central Bank in order to enable the debtor (borrowers) to fulfill their obligations under the loan agreement and by other means.
April 22 Central Bank of Russia He insisted Collectors and banks to synchronize debt collection from Russians. The management of the currency regulator is concerned with the conclusion of inter-creditor brokerage agreements by market participants, which provide a unified approach to the collection or restructuring of debts of a common client.