Cbank recommends banks to give mobilized citizens credit vacations

MOSCOW, Sep 21 (PRIME) -- Russia’s central bank has recommended banks and microfinance organizations to give credit vacations to mobilized citizens, the regulator said in a statement on Wednesday.

“Citizens mobilized in accordance with a Russian presidential decree may apply to their bank or microfinance organization for a grace period or reduction of payments on all types of loans, including mortgages, for the period of mobilization,” the regulator said.

The regulator also recommended not to charge contractual penalties, not to demand early fulfilment of obligations, to suspend the collection of overdue debts or mortgage housing, not to evict from the mortgage housing, which had previously been foreclosed.

The same right is guaranteed to close relatives who are dependents of such borrowers.

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