- March 4, 2015
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St. Petersburg Legislative Assembly appealed to the government of Russia to completely ban currency mortgages in the country, and until 2018 to impose a moratorium on the removal of apartments debtors on such loans.
This is not the first attempt by Russian deputies to assist borrowers in foreign currency, but it is characteristic that this time the initiative comes from the members of the faction “United Russia”, even at the regional level.
For the three months movement in defense of “foreign currency mortgage holders,” which begins with pickets at the building State Duma in Moscow, reached a national scale, and drew the attention of the media and the political establishment.
In support of borrowers expressed the Public Chamber of the Russian and senators. In the State Duma prepared just four of the bill. However, decisions on any of the initiatives is not: neither of the bills and not included in the agenda of the Duma, although currency borrowers in the account each day.
Silent and the Central Bank, which unless advised banks to convert foreign currency mortgage loans in rubles at the 1 October 2014 (this recommendation was ignored banks) and complicated issue of new such loans, doubling the required reserves for banks from April 1 (banks and so now almost do not give out such loans, and borrowers do not take).
Why is power after all applications for assistance and currency borrowers after three months from the date of the problem did not do anything?
Beginning of the End
The first signs of impending financial disaster “currency mortgage holders” felt even in the summer, but then no one imagined that in December, the day the dollar can rise to 80 rubles. Since then he fell back to 61 rubles, however, this does not help borrowers.
Many of the monthly payment on par with the salary, with the result that people have simply can not pay for the rented apartment. The total delay for foreign currency mortgage payment in Russia in 2014 exceeded 17 billion rubles.
“In March I was not physically able to pay in full the bank, because at the current dollar rate monthly fee I have almost equal salary “, – told BBC BBC member of the initiative group of All-Russian movement of currency borrowers Irina Safianov.
Taking in December 2007, the bank has 130 thousand. dollars, she has now paid more than 100 thousand. and remains must be 92 thousand. dollars.
If it is now even abandon the apartment, then sold it for rubles, the amount of rescue, which would be insufficient to repay the dollar loan. In other words, it will lose an apartment, money for seven years, during which time to repay the debt owed to the bank and still have it should.
In a similar situation are not less than 30 thousand. Russians who have taken mortgage loans in foreign currency. Someone situation is more desperate, someone less. The total number of people are affected by this problem, can be much more. After all, foreign currency borrowers have spouses and children who also suffer in this situation.
Therefore, currency borrowers themselves and their sympathizers analysts say about 100 thousands of victims.
Since last November, they have developed active in social networks, and then on the streets of Moscow in December had agreed with the authorities of the two-thousand rally near Gorky Park in January orderly came to the building of the Central Bank and dumped on the doorstep keychain as a sign that they are deprived of their own their own apartments.
At the end of February, with the support of the Consumer Rights Protection Society borrowers filed a lawsuit to the Central Bank in the Meshchansky Court in Moscow . In comments OZPP notes that “the Central Bank, through inaction, violated the rights of a huge number of families’ housing.
About populism and” huge loss “
explain that this issue is so fascinating, multi-dimensionality can only problem that lies at the intersection of several dimensions: political, economic and even moral and ethical. From what point of view one looks everywhere contradictions and lack of uniqueness. Not to mention the time of the problem – in the midst of crisis, when all sides oblozhennnaya sanctions the country is trying to patch budget holes from falling oil prices.
From the point of view of the state, the problems of 1% of the total number of mortgage borrowers represented large and requires immediate resolution. In addition, if guided solely by the logic of populism, the assistance category of people with incomes above the average (and to this category include currency borrowers) – it is certainly desirable, but hardly has a large electoral potential.
However, and very “hush up” the problem of the state is unlikely to succeed, given the fact that the currency borrowers are an active part of society: knowledgeable, and often directly related to the field of finance and journalism (thanks to the skills of working with the information they managed to deploy a fairly successful campaign protect their own interests).
From an economic point of view, the problem is also ambiguous. On the one hand, banks insist that if they go at least to the conditions recommended by the Central Bank (credit transfer in rubles at the rate of 1 October), their losses will be enormous.
For example, VTB 24 analysts have argued that in this case the cross-sectional losses amount to one-third of the bank’s revenue for 2014.
On the other hand, independent experts rightly point out, that banks recently allocated for capitalization of 1 trillion rubles and promised another half a trillion might have been if you want to send some of these funds to restructure acceptable to borrowers.
All the more so, according to deputies from the “Fair Russia” who made in January to the State Duma a draft law on the restructuring of foreign currency mortgage loans, the estimated costs of the federal budget for these purposes may be 20 billion rubles. It seems to be a lot, and at the same time as compared to one and a half trillion on capitalization, too.
“irresponsible people”
It is on this bill introduced by the deputies of the State Duma group led by Andrei Krutov and Oksana Dmitrieva, currency borrowers pinned most of hope.
It provides the translation of foreign currency loans in rubles at the date of the contract at a reduced rate on the loan 12.2% per annum.
The document was recorded immediately after the New Year on January 16, but at the end of the month the decision of the Board of the State Duma returned to the author in the absence of the conclusion of the government. The fact that the bills that involve the expenditure of budgetary funds, should undergo examination government officials.
When we took a mortgage, you are not treated in cowboy offices and banks, which are regulated by the Central Bank
At the White House on this legislative initiative have long puzzled. In February, the Ministry of Economic Development BBC and said that the bill has received a negative review of the Treasury and the Ministry of Finance assured that nothing about it know and no decision has been taken yet.
The problem of currency mortgage holders at that time was broad resonance; this was tortured at the State Duma government hour in January, chairman of the Central Elvira Nabiullina. It was obvious that the situation calls for a speedy resolution. But on the other hand, in times of crisis every budget billion in the account.
Therefore, the authorities have taken a dual position: Recognizing the need to help the currency borrowers, they stress the ethical aspect of the problem. Like, “currency mortgage holders” knew that the risk – and why they need help now more than ruble borrowers who paid at a higher rate?
” We must not forget that people are responsible for the decisions that they take and for what risks to take yourself . Through the media we have over the years made aware that if earn in rubles, the bank and the products must be in rubles, “- complained against” foreign currency mortgage holders “in late January Nabiullina.
First Deputy Prime Minister Government Igor Shuvalov went further and accused them of being irresponsible (although at the same time promised not to throw in trouble).
“Let’s discuss how to help people. Just remember the millions who have taken a mortgage in rubles and understood that is higher interest rates, and they will have to bear this burden. They did it deliberately. We must listen to all and to create incentives so that we do not give rise again irresponsible people “, – said Shuvalov.
” As compared with those who took at one time with me ruble mortgage, I have overpaid about 1 million rubles “- retorted Irina Safianov of the All-Russian movement of currency borrowers.
” When we took a mortgage, you are not treated in cowboy offices and banks, which are regulated by the Central Bank. And if they gave us currency loans, why should we have to doubt the reliability of these instruments? “- She asks rhetorically.
Safianov, like many other currency borrowers now refers to Article 75 of the Constitution, which indicates one of the main functions of the Central Bank: to maintain the stability of the national currency. For this task, she said, the regulator failed, allowing a devaluation of the ruble and sharp fluctuations.
“But if the Bank failed in its constitutional responsibilities, why should account for this we? “- she concludes.
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