The Bank of Russia will tighten the rules of foreign currency loans for legal entities
The regulator stated that it intends to establish differentiated premiums to the risk coefficients, taking into account the issuer of the currency. The higher the mark-up, the more legal entity is forced to pledge its own funds to cover the risks.
The value of the surcharge will depend on the country of the currency issuer. It will also take into account whether the company is an exporter and whether it has enough foreign currency earnings. The surcharges will not apply if:
- the loans are directly or indirectly secured by a government guarantee;
- are aimed at financing projects implemented in accordance with international treaties of the Russian Federation.