March 13, 2018 / 9:25 AM / 5 days ago

Russian says to change approach on bank bad loan provisions

MOSCOW, March 13 (Reuters) - Russian central bank said on Tuesday it planned to change its approach to how the banks should set aside provisions for bad loans if they are collateralised, a statement published on its website showed.

The central bank said it wanted to prompt banks to evaluate the quality of loans, not the value of the collateral. The reform will be introduced gradually, the central bank said. (Reporting by Katya Golubkova and Tatiana Voronova; editing by Jason Neely)

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