Bank of Russia publishes first quarterly report on project financing of housing construction
The publication of a new quarterly analytical report is related to an increased interest of the banking and construction sectors in a relatively new mechanism of project financing of housing construction. It will supplement the monthly high-frequency information published on the Bank of Russia website.
The material presents the dynamics of bank lending to developers, the accumulation of funds in escrow accounts, and other information on the main changes in project financing in the past quarter.
At the same time, the report contains data that the Bank of Russia did not regularly publish before. In particular, it includes information on developers’ applications received by banks, the quality and level of provisioning for project loans, the structure of existing loan agreements, and information on interest rates on project loans.
