The government has approved the maximum size of loans for cases on the vacation

Image: portal of the mayor and government of Moscow Maxim Denisov

the Russian government has approved the maximum size of loans for the banks to provide credit vacation. The decision was published on the website of the Cabinet.

the Law on credit holidays for the Russians, whose income fell by more than 30% compared to the monthly average last year, valid from 3 APR.

the Maximum size of consumer credit for individuals to receive vacation credit will be 250 thousand rubles for individual entrepreneurs – 300 thousand of consumer credits with a credit limit for natural persons – 100 thousand rubles. The maximum size of the loan will amount to 600 thousand rubles, and for loans not related to entrepreneurial activity, and mortgage – 1.5 million rubles.

Prime Minister Mikhail Mishustin said that the Russian Ministry of Finance has earmarked 1.4 trillion rubles to combat the threat of proliferation COVID-19 and anti-crisis measures. This is 1.2% of Russia’s GDP. In addition, he announced that the bankruptcy procedure will be free.

the CBR has abolished allowances for risk coefficients on mortgage loans issued before 1 April. Reduced minimum rating of credit institutions in the context of access to the program of preferential refinancing. The conditions assume that banks can obtain loans at 4 percent with a limit of 500 billion rubles.

Approved a list of industries most affected by the spread of the coronavirus. They will provide targeted assistance. The list is currently being finalized.

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