Putin signed the law on repayment of debt of the Crimean people in Ukrainian banks

© RIA Novosti / Michael Clientgenerated in Photobacterium of Russia Vladimir Putin. Archival photoPutin signed the law on repayment of debt of the Crimean people in Ukrainian banks© RIA Novosti / Michael Clientgenerated the image Bank

The President of Russia Vladimir Putin signed the law on refining the rules of repayment borrowers living in Crimea and Sevastopol before the Ukrainian banks, the relevant document published on the presidential website on Monday.

The Chairman of the Duma Committee on financial market Anatoly Aksakov explained that the bill was introduced in connection with the actions in Crimea, «the so-called collectors, who bought the debts from the banks of neighboring States have begun to terrorize the local population and businesses.»

Protection of borrowers

The law gives the borrower the right to apply to the Fund for the protection of depositors (FSW) established by the Agency on insurance of contributions (ASV), in order to communicate with the collector directly.

The Fund is obliged to inform the collector about the availability of such treatment, then the collector needs all interactions with the borrower carried out using FSW. The collector is also obliged to apply to the DIA and see if there’s a request from the borrower that all relationships went through a Fund. Even if cases the borrower was not a Fund after conversion of the header informs the borrower that he has the right relationships with the lead lender through the Fund.

The borrower shall have the right to request debt restructuring. The DIA Supervisory Board may decide until debt relief, if there are grounds for this.

All procedures on the relationship of the Fund and the borrowers will be determined at the level of Crimea and Sevastopol.

For the implementation of the activities of the Fund the DIA should transfer him 1.5 billion rubles.

The composition of the Supervisory Board of the DIA consists of six members: four representatives of the Crimea, one representative of Sevastopol and the Executive Director of the Foundation.

Debt forgiveness

The head of Crimea Sergei Aksyonov had earlier noted that the law will allow you to reset your credits up to 5 million rubles, taken in Ukrainian banks by legal entities and individuals. Thus, all enforcement proceedings against the Crimean borrowers whose loans do not exceed this amount will be terminated and all arrests must be removed within 90 days.

Aksakov noted that the law also applies to those legal entities that have debts of 5 million rubles and above. They can also jump into a relationship with the Fund.

A member of the Federation Council Olga Cowicide said that in the Crimea consider this law as a base, allowing to implement a variety of tasks, including to pass a regional law, the draft of which is ready.

It is reported that, in addition to debt relief up to 5 million rubles, the regional draft law envisages a number of preferences for the Crimeans. So, in the case of repayment of 50% of the debt remaining 50% are written off, and at maturity, 40% of the debt is written off 20%. According to her, representatives of the Crimea expect the position of the Ministry of Finance.

Read more about news of the Crimea — on crimea.ria.ru >>