Banks will be required to report to the Central Bank about collateral
The Central Bank is expanding its powers and, starting from 2020, obliges all banks to report monthly to the Central Bank on collateral, their value and all transactions with them, Vedomosti reports . In Russia, collateralized lending dominates too much, and this creates a risk of littering bank balance sheets with non-core or distressed assets, the regulator fears. Currently, banks provide information on collateral to the Central Bank upon request during inspections in an aggregated form.