How do you assess the current situation in the lending market, including the consumer? It is no secret that from the lending boom, which was observed in the Russian market in 2007 - first half of 2008, this is no trace remained. Many borrowers, both legal and natural persons who were not able to adequately fulfill its debt obligations. Starting in August last year, banks began to tighten the requirements to customers and to date several times raised the stakes over the same period last year, lengthened the terms of credit, substantially tightened underwriting. Vengeance in the process of reviewing loan agreements with the corresponding deterioration in the terms for the borrower. Cases of mortgage loans have become isolated even for the large credit institutions. Turnover in the Russian market auto loans decreased by 80%, and when you consider that sales at all the domestic automotive market, according to Industry and Trade Ministry have fallen by more than 60%. Five times declined to issue mortgage loans. A mid ruble rate on consumer credit in April 2009 was 33.36%, while the U.S. dollar - 19.91%, rates on credit cards, is currently the most popular banking product among the Russian population, on average, increased by 4-5% . Although rates have risen and a half times compared to 2008, lending institutions are trying to focus on financing small and medium-sized businesses. However, entrepreneurs in dire need of working capital are not willing to borrow on those terms. Even without looking at what the government is ready to share the risks in lending to SMEs (in particular, VEB announced a program of concessional lending to small businesses at 30 billion rubles.), We can assume that lending to SMEs in the absolute volume decreased in 2009 compared with last year. But the attempts of banks in the absence of resources to lend to companies on average at 25% per annum making the minimum possibility of their return. Besides, if earlier SMEs could obtain a loan for three years now - no more than a year. Real estate taken as collateral, but a discount is not 20%, 50-60%. For individuals banks are trying to bring to bear different mortgage schemes (deposit apartments, cars, etc.). What is the amount of overdue debt, according to your estimates, there has accumulated on the balance sheets of Russian Banks? What percentage of them - individuals? What do you think, what percentage of the total outstanding debt will not be able to return or account for which is highly unlikely? According to the CBR, on March 1, 2009 the share of the delay amounted to 3,1% for corporate loans (three times higher than in September 2008), and 4,4% in retail. Nevertheless, the Russian accounting standards do not provide an opportunity to get an adequate picture of the state of arrears. According to our estimates, in terms of international standards for the arrears of the largest banks in the lending portfolio of natural persons at least twice the data of the CBR. Further dynamics of indicators of arrears depends on the macroeconomic performance of the Russian economy. In the baseline scenario of the Central Bank first deputy chairman Alexei Ulyukayev, providing for an average oil price of $ 41 per barrel by year-end share of overdue debt on corporate loans to rise to 5.8%, and at $ 25 a barrel - over 10% (Method CBR) . Many analysts predict the collapse of the banking system of Russia in connection with a massive debt defaults. Do you agree with such pessimistic forecasts? Despite the fact that the critical level - 16-17% - we are still very far, the situation remains tense. According to optimistic forecasts, the U.S. will gradually recover from the crisis to the second half of 2010 in Russia, again, looking upbeat, positive trend of affairs emerge six months later. However, judging by the current state of Russia's banking system, by 2010, completely abandoned the Russian market for credit more than 150 small and medium-sized banks. The whole system of Russian banks need a minimum of 500 billion rubles in additional capital. Stability of the Russian banking system will largely depend on the ability recapitalized. Falling oil prices to $ 25 (pessimistic scenario Ulyukayev) a barrel will reduce the ratio of banks' own capital to assets from 16.1% to 12.9%. Here one can mention the arrangements of the Central Bank, under which a January 1, 2010 shall come into force new requirements to the standard "capital adequacy" that will stand by no means all banks. In this situation, an extremely important factors that will ensure the survival of banks are: concentration on core business and reduce cost of transaction. The last substantial can be achieved by using external reservoirs. What laws are now managed collection activities in Russia? What legal issues are in this area? Law on collection activity does not exist yet, and debt organizations are guided by other regulatory acts adopted in the provision of services. But now the collection activities in Russia is gaining momentum, and the need for special regulation is felt very keenly. National Association of Professional Collection Agencies (NAPC), vice-president which I am, has developed a draft law on debt collection activities, which will shortly be submitted to the Duma. Version of the bill unveiled on the site NAPCA http://www.napca.ru NAPCA - Nonprofit organization "National Association of Professional Collection Agencies" - created by the market leaders of collection services: Ltd Debt Collection Agency "inspector", ZAO "Sequoia Credit Consolidation" and CJSC " Financial Collection Agency (FASC) with the participation of the Association of Regional Banks "Russia." It is important in this bill special attention given to the provisions on the rights of debtors, which in any case should not be violated in the implementation of collection activities. The minimum authorized capital of newly registered collection agency on the day of filing an application for state registration is established in the amount of 1 million rubles. Collection Agency is obliged to carry insurance against the risk of their professional responsibility to the property by debtors and creditors. Limit of Professional Responsibility of the collection agency can not be less than 10 million rubles. Calls to debtors can be made only from 06.00 am until 22.00 local time. Also, special emphasis on interaction with the reservoir system of justice. What is and what is not entitled to make a representative collection agency? "At the time of the data collector for collecting the debt may not use the methods of impact on the debtor, contrary to Russian law . The collector may not use the methods of force impact on the debtor, as well as the manner permitted by law solely for law enforcement officers. NAPCA developed a Code of Ethics of collection agencies, and although many of his points have not been approved yet by law, the biggest players in this market are trying to adhere to ethical standards. Code based on the norms of morality and ethics, as well as international standards for collection activities. For example, the collection agency must have a sufficient level of material equipment, allowing to carry out an action to recover debts in a professional manner, undergo an annual audit of accounting and financial reporting, timely and objectively consider the requirements of the claims of creditors and debtors. Please note that the collection agency can not engage in activities to advise debtors in avoiding payment of duty and responsibility for his failure to pay, as well as debtors to enter into error regarding the size, nature and basis of the debt and consequences of failure of repayment. As a collection agency interacts with the bailiffs and law enforcement agencies? Today, before the adoption of law on collection activities, collection agencies have only limited opportunities for cooperation with the services of bailiffs. do the work of bailiffs collectors under the law are not law. The bill was first described the role and function that may play a collection agencies in the Russian market. According to many market participants, the collectors will be able to unload the bailiff from doing routine work. How serious is the problem now is working on collection market unprofessional agencies and agencies with Criminal methods vyshibaniya debt? Still, this is not 1990, and rampant crime in the debt market, fortunately, is not observed. now represent a significant problem, especially smaller regional collection agencies are not included in the NACP, which work with debtors unacceptable law practices and thereby spoil the reputation of the participants of the market. Here are just a respected collection companies cooperate with law enforcement authorities to identify and punish offenders. So still so important that as soon as possible was adopted and came into force a law designed NAPCA. After all, we are in the market do not always know who is who, especially with regards to small collection agencies and law enforcement agencies in the absence of an appropriate regulatory framework is even more difficult to understand. In small agencies, insufficient capitalization, which can not provide them with quality management, technology and infrastructure, training employees. Thus their activities may occur intermittently. There are cases where small agency received portfolios from banks and disappeared after 1-2 months, creating uncertainty for customers about their customers. Another example: the agency is taken for the processing of the portfolio, without having to it has enough resources and facilities. As a result, after 2-3 months to recover the result is close to zero, which leads to loss of time for the customer, "aging" the debt, the fall of collectibility. How serious the consequences would be for the bank's reputation (customer agency) methods of work of its partner - the collection agency? "The market had been instances when clients subsequently regretted that contact is not with those" agencies? In many cases, the collectors act by proxy on a particular client. Here, of course, collectors must take into account all the risks associated with reputation of those on whose behalf they act. It's in the first place, and the image of the agency itself "Any" damage "the reputation of the reservoir leads to a loss of customers. The most particular mistakes - calls at night, taking cash, loss of personal data. As correctly, in your opinion, to choose a collection agency? "The best way to choose an agency - is the recommendation of customers, particularly large banks. It is also necessary to gather information about a collection agency and its head (this information is always in the media, the Internet and other open sources) carefully study the company's web-site to collect feedback from partners. Please note that large and well-respected collection agencies are usually open financial indicators on which to judge its effectiveness. Also, you should pay attention to the amount of the share capital of the Agency the experience of managers and team, the period of existence (more than 3 years), technical equipment, methods of work. It is believed that with each passing day the share of so-called "good" debt in the market is rapidly decreasing and the proportion of "bad" increased. Do you agree with this opinion? This is true. In declining rates of reduction of consumer credit to get us to debtors who have genuinely unable to pay. In the short term interest rates on loans will continue to grow, and the number of loans to decline - this is because the economic outlook, including and on unemployment and income levels, are disappointing. According to the forecast of the World Bank, Russia's GDP this year could lose 6%. Predict what will happen in a few months with one or another of potential borrowers, today is difficult, and banks, in spite of careful checking customers are not fully able to assess the impact of the issuance of any loan. Most experts agree that the percentage of bad debts will always grow. For example, the amount of outstanding debt of Russian banks for the portfolio of individuals at the beginning of 2009 amounted to almost 150 billion rubles., and the beginning of 2008 this indicator was at 100 billion rubles. What customers other than banks, you will still usually work? Our clients include: Leading banks leading telecommunications companies Leasing companies companies providing public services trade and service organization. Where need to contact the borrower, if the collector is clearly violating the law? "Do public organizations or other associations, legislative bodies, which can assist in this situation?" If you asked a professional collection agency, the letter must be specified, where they can apply in the case If you believe that your rights are violated. It is recommended, above all, to complain to company management, where he works to ask you a collector (the "Debt Collection Agency" inspector "this can be done through the website www.pristavcollection.ru). If you consider your complaint unsatisfied, you can always contact NAPCA http://www.napca.ru, where your issue qualifies for the highest professional level, and give necessary recommendations. Today we face a serious crisis. The number of all types of loans issued has dropped significantly. Smaller loans - less debt?! In light of this, what are the prospects for the collector market in Russia? Lending is declining, the growth of debt is not infinite, the debt grows old, pay is falling. Lenders extend their own units to work with problem debts, collectors receive a portfolio of very poor quality. The market is tough enough. The second breath he can gain an increase in lending. Many collectors will not survive this crisis. However, this situation has its advantages: for those agencies who learn to work in harsh conditions, would be a good prospect in 1-2 years.
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