Restructuring loans and business: a new newsletter of the Bank of Russia

On the background normalisation and the gradual recovery in economic activity the demand of borrowers, especially small and medium-sized enterprises (SMEs), restructuring of loan agreements continues to decline, resulting in a much smaller number of complaints both from citizens and from SMEs to the creditors during the period from 18 to 30 June. This is stated in the new Bulletin of Bank of Russia “the Dynamics of restructuring of loans of the population and business”, which starts out with July 6, 2020.

The Bulletin will reflect the current results of measures to support borrowers — individuals as well as SMEs and large companies with the help of vacation credit and private programs of credit organizations. The review contains sections on the restructuring of debts of physical and legal persons, SMEs, statistics supplied to the Bank of Russia appeals of consumers of financial services, as well as the results of the compliance monitoring activities of creditors on the debt restructuring provisions of the law on credit holidays (No. 106-FZ).

For the period from 20 March to 30 June, the citizens sent to the banks 2303,4 thousand applications to change conditions of the credit agreement. From 18 to 30 June, they received 99 thousand (in the previous period, from 4 to 17 June, 158 thousand), received approval for approximately 62% of the examined. By the end of June the total amount of the carried-out restructuring for individuals both in their own programs of banks and Law No. 106-FZ exceeded $ 625 billion rubles.

Small and medium business for the second half of June sent the creditors a little more than 2 thousand applications for restructuring (for the last two weeks — 4.4 thousand), and in total from 20 March to 30 June, banks have been 135,5 thousand applications from SMEs. Approved almost 73% of the number considered. Only small and medium businesses had the opportunity to restructure debt in the total amount of more than 666 billion.

The amount of restructured loan receivables of large companies amounted to 2.3 trillion rubles.

In the last week of June increased the number of calls to the call center of the Bank of Russia on the issues of vacation credit, and preferential loans to legal entities.