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Russian Central Bank will allow banks to verify their customersí income in accordance with Pension Fund



This law has already been prepared by representatives of Central Bank.



15.Aug.14 5:41 PM
By Elena Tkachenko
Photo INNOV.RU

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Russian Central Bank will allow banks to verify their customersí income in accordance with Pension Fund
Now banks are able to check the level of solvency of their customers only with the help of provided income level. However this situation is going to change in a while. Banks will get a chance to check the solvency in accordance with data which is contained in Pension Fund.

Special bill has already been prepared. It will give an access to all data that is contained in Pension Fund for banks and financial institutions. In case this bill will be approved the law will come into force on the 1st of March 2015. Such measures are taken in order to provide banks with opportunity to evaluate payment ability of every customer as well as level of risk crediting.

At the same time the Head of Regional Russian Banks Association Anatoly Aksakov has already received a copy of this bill and prepared his own output regarding it. Experts are sure that this innovative law will help to decrease the number of risk loans. This will have a positive effect on credit market.

On the other hand Pension Fund is against such law as it contradicts with already existing law.

Federal Tax Service has not yet received this bill.



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