The Bank of Russia plans to stop the practice of transferring problem debts from one borrower to another. Regulator published Draft amendment to the regulation regarding the provision for possible credit losses.
According to the document, loan service cannot be considered good if the debt is transferred from one person to another. Exceptions will be made where payments have been made on time and in full within the last 360 days.
If the transfer of debt took place within the scope of a restructured loan, the service quality will be considered inadequate. The aim of the changes is to stop the practice of hiding true credit risks by transferring doubtful receivables to other parties.
The amendments also introduce an approach that allows the change in lending conditions in accordance with the requirements of the law not to be considered as restructuring. This will reduce the regulatory burden on banks.
Before this, banks will have to wait in 2024. will Return the stolen money according to the new rules.
Previously in Russia was created Criteria for combating financial pyramids.
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Source: Gazeta
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