18.02.2016, 01:16
CB RF and Bank Representatives Discussed Mortgage Loans Restructuring
OREANDA-NEWS. Foreign currency mortgage lending and restructuring issues were on the agenda of today's meeting with bank representatives held in the Bank of Russia.
According to Bank of Russia estimates (evidence on 18 credit institutions which account for about 90% of foreign currency loan portfolio), the number of foreign currency mortgage borrowers fell by 22% during 2015, creating a total of 25 000 people in February 2016.
Foreign currency mortgage loan debt has dropped by 25,9% during the year and amounted to USD 1,8 billion as of 1 January 2016. The number of newly provided loans was eight times smaller in 2015 comparing to the previous year (91 versus 750 loans) and their volume fell by four times from USD 192,5 million to USD 51,7 million.
Such reduce in the volume of foreign currency mortgage loans was triggered by banks introducing restructuring programmes.
Bank representatives expressed willingness to assist socially vulnerable borrowers individually. According to general statistics provided by bankers during the meeting, the number of borrowers requiring personal approach and specific solutions does not exceed 20% of the total number.
Increasing effectiveness of the AHML borrowers support programme was also a discussion topic.
The Bank of Russia will continue to monitor developments in mortgage lending and to consult with bankers about measures to ensure social stability and market discipline.
According to Bank of Russia estimates (evidence on 18 credit institutions which account for about 90% of foreign currency loan portfolio), the number of foreign currency mortgage borrowers fell by 22% during 2015, creating a total of 25 000 people in February 2016.
Foreign currency mortgage loan debt has dropped by 25,9% during the year and amounted to USD 1,8 billion as of 1 January 2016. The number of newly provided loans was eight times smaller in 2015 comparing to the previous year (91 versus 750 loans) and their volume fell by four times from USD 192,5 million to USD 51,7 million.
Such reduce in the volume of foreign currency mortgage loans was triggered by banks introducing restructuring programmes.
Bank representatives expressed willingness to assist socially vulnerable borrowers individually. According to general statistics provided by bankers during the meeting, the number of borrowers requiring personal approach and specific solutions does not exceed 20% of the total number.
Increasing effectiveness of the AHML borrowers support programme was also a discussion topic.
The Bank of Russia will continue to monitor developments in mortgage lending and to consult with bankers about measures to ensure social stability and market discipline.
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