Loan repayments in non-work week: regulator clarifies
27 March 2020
News
Although the period from 30 March to 3 April 2020 was declared a non-work week by order of the Russian President, credit and non-bank financial institutions will not interrupt operations — and carry on serving their customers.
Loan repayments due next week will be deferred until the first work day which follows the non-work week, i.e. 6 April 2020. The deadline deferral will be deemed compliant with regulations; no extra interest or penalty or fines will be charged.
Credit institutions and non-bank financial institutions were advised to this effect in the relevant Bank of Russia Information Letter.
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