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Numbers of loan restructuring applications steadily decline

9 November 2020

Banks received as many as 48.7 thousand restructuring-related applications from individuals between 22 October and 3 November, which is almost  9 thousand less than in the previous two weeks. Entrepreneurs filed a mere 4.3 thousand applications in the period.

Applications for loan repayment holidays are still coming in from individuals, beyond the established deadline of 30 September. The regulator has previously recommended that banks handle such restructuring applications based on their proprietary restructuring programmes.

Systemically important credit institutions’ data show that 33 thousand requests for loan repayment holidays were declined through their applicants’ failure to prove that they meet criteria.

However, in recent weeks Bank of Russia interactions with major banks delivered a decline in the number of rejected requests for loan repayment holidays.

Further details are available in the information bulletin Restructuring Individual and Corporate Loans.