“The Bank of Russia has decided to extend some of the regulatory relaxation, to implement new countercyclical measures to support the economy and to terminate a number of temporary measures introduced in connection with the pandemic,” the press release says.
Most of the measures have been extended until the end of 2020.
In addition, the Bank of Russia has extended a number of measures to support citizens and small and medium-sized businesses.
In particular, the regulator recommended that banks and microfinance organizations continue not to impose fines and penalties for delays on restructured loans until the end of 2020, as well as to continue servicing clients on identity documents until the end of December this year, whose term expired from February 1 to 15 July 2020.
At the same time, restrictions on the amount of acquiring commissions were canceled.
In June, the head of the Central Bank of Russia Elvira Nabiullina spoke about the potential consequences of a possible second wave of COVID-19.