Russian central bank says wants to ease mortgage rules
MOSCOW, Jun 22 (PRIME) -- The Russian central bank can ease mortgage regulation by reducing the risk coefficients to help banks save about 300 billion rubles of capital at current mortgages, the authority said in a statement on Monday.
The changes are stipulated in a draft order amended after meetings with market participants.
"Introduction of a new scale of risk coefficients will help banks save about 300 billion rubles of capital at active mortgages," the authority said. The new risk coefficient scale will depend on the ratio between the mortgage, the initial installment, and the debt burden, and will be set at 20Ц100%.
The decision is to spur up lending and lead to an interest rate cut.
(69.5725 Ц U.S. $1)