The Bank of Russia has issued guidance allowing banks to maintain current assessments of borrowers’ financial health and the quality of their loan portfolios through the end of 2024 for military personnel and their families involved in a special operation in Ukraine. This clarification appears in an information letter published on the editor’s site.
The directive aims to reduce regulatory pressure on lending institutions while preserving loan accessibility for service members and their households. In practical terms, bank management bodies may choose, during the grace period, not to worsen evaluations of debt service capability or the overall quality category of collateral and loans tied to these borrowers. The statement also notes that central bank actions and related loan-related liabilities may be considered in determining credit risk during this period.
Earlier in the day, the Federation Council approved legislation designed to extend social support to spouses of service members who die in the special military operation. The policy ensures that the maximum social support benefits are available to the surviving spouses of married personnel as well as those in other living arrangements, without regard to the exact family composition in which the survivors reside.