Business news
Market principles to regulate credit business in Belarus
MINSK, 30 January (BelTA) – Credit business in Belarus will be regulated using market principles, BelTA learned from the NBRB Information and Public Relations Office after an expanded participation session of the bank’s board.
The source reminded that all the direct restrictions on loans will be lifted on 1 February 2015. Credit operations will be regulated using market principles on the basis of the generally accepted market instruments, BelTA has been told.
While drafting their credit plans, Belarusian banks are advised to take into account the need to balance their assets and liabilities and regularly compile forecasts regarding the dynamics of assets and liabilities taking into account the main macroeconomic parameters, said the source.
The government and the National Bank working in association with Belarusian banks determined parameters for crediting government programs and projects. Banks will have to provide loans on the basis of availability of real sources of funding without resource support from the National Bank. Heads of banks will be personally responsible for authorizing credits for government programs and projects while the relevant sources of finance are unavailable, stressed the source.
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