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The Central Bank of the Russia will oblige all the banks to report on credit collateral, their value, as well as operations with them

The Central Bank of the Russia will oblige all the banks to report on credit collateral, their value, as well as operations with them

Starting from 2020, all the banks are to provide detailed information on collateral when submitting reports to the Central Bank. Now the Central Bank receives information about collateral form aggregated reports, without any details on value and type.

With the new reporting form, the Central Bank will make it easier to identify an overpriced value of collateral and find cross-collaterals - those cases when the property is re-mortgaged several times.