Entrepreneurs and individuals of Tatarstan received a deferral of loans in the amount of 35.3 billion rubles

On September 30, the acceptance of applications for restructuring of loans under 106-FZ was completed. Credit holidays have played a critical role in the most acute period of the crisis caused by the COVID-19 pandemic. In the Republic of Tatarstan, credit institutions restructured 2,133 corporate loans in the amount of 16.8 billion rubles within the framework of state and intrabank programs. In addition, over 40 thousand applications for credit vacations from individuals and individual entrepreneurs in the amount of 18.5 billion rubles were satisfied.

To further reduce the risk of an increase in the level of overdue debt, the Bank of Russia has sent a number of letters of recommendation to financial institutions, which concern both individuals and SMEs. In particular, it was recommended that credit institutions continue to consider the possibility of changing the conditions of previously provided loans to SMEs, including self-employed citizens. Also, according to the previously carried out restructuring under 106-FZ, banks were offered to restructure these loans within the framework of their own programs by the end of this year.

In turn, it is important to note that in order to reduce the burden on banks' formed reserves, the Bank of Russia recommended that the credit bureau should not take into account such restructuring as factors that worsen the credit history of borrowers. Reducing the financial burden will allow citizens to increase the level of consumer activity, and entrepreneurs to fulfill their current obligations in a timely manner and restore revenue.

Let us recall that the Central Bank gave regulatory relief, which allowed banks to reduce the financial burden during the crisis caused by the pandemic, while not increasing reserves and allowing individuals and businesses to restore creditworthiness. It should be noted that as of the beginning of October, the share of overdue loans on credits to SMEs decreased and amounted to 4.5%, while at the beginning of the year this figure was 8.5%.