ANNOUNCEMENT 13 Mar 2015In March 2015, the government of the Russian Federation announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
On 13 March 2015 the Russian government approved a plan for supporting mortgage lenders (Decree Nr. 220).
Concretely, Russian credit institutions and the Agency for Housing Mortgage Lending can seek compensation for lost revenue from distressed mortgage loans. The total allocation from the federal budget is at the amount of 20 billion Russian Roubles (ca. 500 million USD).
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.