15.01.2016, 00:54
Bank of Russia Conducts First Poll of Biggest P2P Sites
OREANDA-NEWS. Bank of Russia conducts first poll of biggest P2P sites. According to the poll, the aggregate portfolio of transactions made through infrastructure of p2p sites was about 100 million rubles. The greater part of loans was given to individuals. The overall volume of loans provided to legal entities (b2p) is rather modest.
The mega-regulator has been monitoring p2p lending (peer-to-peer lending) since last July. Taking into account the very fact of booming development of this market in Russia, the growth of p2p sites, and considering a bigger number of individuals and legal entities involved in transactions, the Bank of Russia found it expedient to take a close look at the processes underway in the p2p lending market and draft proposals to streamline this segment of financial services.
Over the first nine months of 2015, the Bank of Russia Main Office of Microfinance Market and Financial Inclusion Methodology went ahead with a pilot voluntary poll of p2p sites. The poll results and the preliminary assessment of the biggest p2p sites showed that today p2p lending is stabilising and gaining momentum, however, it still has a tiny portion of the financial market. With this in view, the Bank of Russia believes it is too early to give accurate assessments of the scale and outlook of the p2p lending segment in Russia.
Nevertheless, considering the dynamics of this lending model and the expansion of the customers who use p2p sites for their transactions, the Bank of Russia thinks it is necessary to go on monitoring this market segment on a regular basis.
As of today, neither regulation nor control over p2p lending market participants exists, that is why the Bank of Russia draws people's attention to higher risks p2p service users might be exposed to.
The mega-regulator has been monitoring p2p lending (peer-to-peer lending) since last July. Taking into account the very fact of booming development of this market in Russia, the growth of p2p sites, and considering a bigger number of individuals and legal entities involved in transactions, the Bank of Russia found it expedient to take a close look at the processes underway in the p2p lending market and draft proposals to streamline this segment of financial services.
Over the first nine months of 2015, the Bank of Russia Main Office of Microfinance Market and Financial Inclusion Methodology went ahead with a pilot voluntary poll of p2p sites. The poll results and the preliminary assessment of the biggest p2p sites showed that today p2p lending is stabilising and gaining momentum, however, it still has a tiny portion of the financial market. With this in view, the Bank of Russia believes it is too early to give accurate assessments of the scale and outlook of the p2p lending segment in Russia.
Nevertheless, considering the dynamics of this lending model and the expansion of the customers who use p2p sites for their transactions, the Bank of Russia thinks it is necessary to go on monitoring this market segment on a regular basis.
As of today, neither regulation nor control over p2p lending market participants exists, that is why the Bank of Russia draws people's attention to higher risks p2p service users might be exposed to.
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