The Central Bank opposed the abandonment of floating rates – Kommersant

Refusal of floating rates on corporate loans could harm the banking system, while the Central Bank supported the idea of ​​​​limiting them for loans issued to microbusinesses. This was stated by First Deputy Chairman of the Bank of Russia Dmitry Tulin at parliamentary hearings in the State Duma.

According to Mr. Tulin, with high and unstable rates of inflation, interest rates fluctuate. “And the peculiarity here is that the majority of borrowers – this applies to large, medium and even small businesses, if it is not a micro-business – floating rates in accordance with the terms of the agreement can be revised by the bank, they are usually unpleasant, but not fatal,” – he said (quote from TASS).

Dmitry Tulin noted that with a fixed rate on a significant part of the loan portfolio, rate fluctuations can lead to bank bankruptcy. In this regard, he noted, if floating rates are abandoned, banks will stop issuing loans.

“The art of economic management comes down to finding some kind of balanced solution – to protect the most vulnerable categories of borrowers from excessive fluctuations in interest rates during the term of the loan agreement, and on the other hand, not to harm the economy,” said Mr. Tulin.

The State Duma is considering a bill proposing to set limits that will limit the percentage of changes in floating rates for microbusinesses. It is assumed that the rate can change by no more than 4%. The document was supported by banks and the business community, noted Dmitry Tulin.

Lusine Balasyan