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Loan Rates Could Be Forced To Go Down
27.09.2013 07:44
Loan Rates Could Be Forced To Go Down
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The Russian authorities are looking to cut loan rates amid a consumer credit boom in an attempt to avert possible collapses, says Kommersant.

      According to a joint decision by the Finance Ministry and the Central Bank of Russia, banks would not be allowed to impose rate that are higher than 30 percent above tha market average, the daily quotes anonymous sources as saying.

      The agencies, however, have not agreed on the character of the penalty in case of the required limit is exceeded. 

Author: Mikhail Vesely

Tags: Finance Ministry Central Bank of Russia    

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