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Protests By Unhappy Mortgage Holders Rock Moscow Banks

Foreign-currency debt holders launched a array of protests opposite Moscow banks this week, perfectionist a bonus on their debt payments that have increasing dramatically in tandem with a weakening ruble.

On Tuesday a organisation of people rushed into a Raiffeisenbank bureau and demanded that they be authorised to compensate behind their mortgages during a rate of 40 rubles per dollar instead of a stream 78 rubles per dollar rate, a Dozhd TV channel reported on Tuesday.

Management refused their demands, charity debt holders a choice of postponing their remuneration deadline or giving their apartments to a bank as payment.

Another occurrence occurred on Wednesday in a Delta Credit bank branch. More than 200 debt holders flooded a premises, perfectionist that their mortgages be renegotiated, The Insider news website reported.

Many banks captivated clients to mortgages denominated in dollars or euros with appealing rates. Foreign-currency debt holders hold several high-profile protests in Moscow final year, including outward a Central Bank and on Red Square.

President Vladimir Putin told members of Russia’s Human Rights Council in Oct 2015 that foreign-currency debt holders done a preference to risk banking fluctuations when they took out their loans, though pronounced that a state should step in to assistance equivocate “extreme situations.”

Article source: http://www.themoscowtimes.com/article/557047.html