The Central Bank eased reserve requirements of mortgage loans with a 10 percent down payment if the borrower's liability insurance. Thus, the banking regulator is trying to encourage the development of insurance software corporation AHML, which was launched last year, but has not yet demonstrated significant success. However, banks are still skeptical about the idea of financial risk insurance for the mortgage. Yesterday the Central Bank published on the official website of the draft amendments to the 110th instructions "On Banks' Required Ratios. It follows from this that the Central Bank establishes an increased risk ratio for mortgages valued at more than 50 million rubles., An initial fee which ranges from 10% to 20%. In this case, the bank will have to evaluate these assets by a factor of 150%. However, the Central Bank made a dispensation allowing the rate set at 100% when the initial payment on the mortgage is greater than 10% but less than 20%, provided that this difference is insured by the insurer with an international rating of no less than "BB", or at least 50% risk of payment transferred to the reinsurer, which is majority owned by the state. The size of the risk coefficients for various assets of the bank affects its capital adequacy ratio (N1), which limits the activity of the bank in lending. Decrease below the minimum level H1 (10% for large banks in terms of capital, 11% for medium and small) can lead to serious sanctions of the Central Bank. Thus, the Bank of Russia at the regulatory level approved by the agency of mortgage lending (HMLA) scheme of financial risks insurance of the bank and the borrower with an initial payment of 10%. At the moment, the vast majority of banks offer mortgages with a contribution of at least 20%, but the liability insurance in case the borrower can not repay the loan reduces the initial fee of up to 10%. According to AHML relief CB significantly expand the pool of potential borrowers, making mortgages more affordable 10-percent fee can afford up to 80% of potential borrowers. At the time of the end of 2009 the insurance company HMLA evoked strong criticism from the Ministry of Finance and Rosstrakhnadzor: the result of the refusal of insurance "daughter" of HMLA direct insurance risks. In the first step of the state reinsurance company have been very modest. Instead of the planned 12.3 thousand loans in the past year, the company participated in the insurance only 400. "To date, SC HMLA reinsured more than 700 mortgage loans, totaling over 1 billion rubles.", - Says CEO SK HMLA Nina Smirnova. She said that the initiator of the amendments was AHML. "During the second half of last year we have actively cooperated with the Bank of Russia. Previously, we proposed to extend these terms and conditions for all mortgages with low down payment, since they are a priori more risky. As long as this condition is valid only for large loans, but we nevertheless believe that the first step has been taken, "- she added. The Central Bank "Kommersant" reported that the insurance financial risk borrowers with a mortgage - a reasonable tool, which is reflected in the revised instructions. Insurance costs an average of 1.5-2% of the loan amount for the entire lifetime of the loan. Central Bank easing will help the development of this type of insurance, the director of the department of property insurance of individuals of "Alfa Insurance" Irina Karnaeva. "While the program is very weak, commercial banks do not have a particular interest in this product, but now they have an incentive," - she concludes. But although the Central Bank and is trying to encourage banks themselves are skeptical about such insurance, retail director of the Department indicates Absolut Bank Aleksandr Budnik. "It's being touted as insurance covering risks in the event of default on bank loans, but it seems to me that banks izvlekshie lessons from the financial crisis in the coming years will not be willing to consider this insurance as a reduction of their risks," - said the expert.
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