The Bank of Russia tightens regulation of the microloan market
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The Bank of Russia intends to seriously revise the requirements for the calculation of reserves for possible losses for microfinance organizations (MFIs), follows from the draft regulation published on August 14 by the regulator. Among the consequences – from a one-time additional formation of reserves and an increase in expenses for a significant market share to a violation of standards and capital requirements for individual players, the Central Bank estimated in an explanatory note. The new version of the instructions of the Bank of Russia, according to the draft, will come into force on October 1, 2024.
Reserve from cost
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