Russian banks asking the regulator to put off consumer loan rate limits - Izvestia

17.12.2014 12:26
Russian banks asking the regulator to put off consumer loan rate limits - Izvestia

YEREVAN, December 17. /ARKA/. Russian banks applied to the central bank for a postponement in introduction of maximum rates on consumer loans as from January 1, 2016, RIA Novosti reported referring to Izvestiya.

The request was signed by the head of the National Council for Financial Market Andrey Yemelin.

Banks will have to curb their crediting amid worsening economic situation and lack of liquidity, Yemelin says in his letter.

The newspaper cites the central bank as saying it is considering suspension of the true interest cost limits in the first and the second quarters of 2015.

The law saying the full loan value should not exceed the average market value set by the central bank more than by one third, came into effect on July 1.

According to Yemelin, banks will not manage to get prepared for the rate limits as from January 1. Apart from this, banks are not happy about profit that can be earned with the true interest cost limits set by the central bank, he said. –0--


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Tags: , , Новости Армении АМИ Новости-Армения

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