CBR took additional measures to support the mortgage market

Photos: Moscow 24/Nikita Simonov

the Central Bank of the Russian Federation has developed additional measures to support the mortgage. It is reported RIA Novosti with reference to the words of the Chairman of the regulator Elvira Nabiullina.

“Today we are announcing an additional regulatory measures primarily in order to support the mortgage market and give more comfort to banks in an environment where they have to provide mortgage holidays. We made the decision to cancel allowances for risk coefficients on mortgage loans issued before 1 April this year,” said Elvira.

According to the Chairman of the Central Bank, now banks are experiencing difficulties because of the need to provide borrowers credit vacation. The new measures, as specified, must be focused on the continuation of credit.

Another new measure to support banks reduced the minimum credit rating organizations in the context of access to the program of preferential refinancing. The conditions mean that banks can obtain loans at 4 percent with a limit of 500 billion rubles.

At the moment vacation credit in Russia can count those citizens who have lost work or whose income fell more than 30 percent during the outbreak of coronavirus. To obtain service you must contact the Bank to request a postponement of payments.

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