Currency borrowers. All-Russian movement of foreign currency borrowers

To date, the Russian economy is at the stage of integration into the world economic system. This explains the need for domestic companies to raise funds in foreign currency. Getting loans in foreign organizations is one way to solve this problem.

Who is the borrower?

The borrower is a party to credit relations, which received a loan and assumed the obligation to return it within the agreed timeframe and pay interest for the period of using the loan.

Within the framework of credit relations, the same economic entity can act simultaneously as a creditor and a borrower. If a company receives a loan from a bank, it will be a borrower and the other party a lender. But if the organization keeps its funds in the bank, they will act in opposite roles.

With a loan, this economic entity will be a party to the relationship with the lender. It takes a certain amount of money or other items with a specific membership. In accordance with the contract, the borrower must return a similar amount of money or an equal number of things of the same kind and quality.

If the object of the loan is money, expressed in monetary units of another state, the economic entity will be a currency borrower.

What are the purposes of borrowers attracting funds?

The purpose of attracting foreign exchange can be any. However, it is worth highlighting the most common of them:

• Payment for services, works or objects of intellectual property that are acquired from foreign or domestic companies;
• Payment for goods that can also be purchased under international leasing contracts;
• At opening of representations of firm abroad;
• Purchase of securities that are denominated in the currency of another state;
• Purchase of real estate using foreign currency;
• Participation in the investment activities of a foreign company;
• For other purposes.

It is worth noting that in Russia the receipt of a loan in foreign currency by domestic companies is prohibited by law. Services to currency borrowers are provided by authorized financial institutions. As a rule, they set higher interest rates than ordinary banks.

What are the costs expected of a foreign currency borrower?

The use of loans leads to additional costs, which should be known before resorting to this method of obtaining funds. Illiteracy in this matter can lead to negative consequences. Currency borrowers will have the following costs:

• Interest that is paid by lenders for loans provided;
• The difference in the exchange rate, formed under the terms of the contract from the moment of accrual of interest to their full repayment.

Interest on the loan must be paid according to the procedure, which is stipulated in the contract. If it does not contain the relevant deadlines, they must be paid in full before a full refund on a monthly basis. When recalculating accrued interest, the unrealized expense or income will be the sum of the negative or positive exchange rate difference.

Mortgage credit lending

Considering the given situation, it is necessary to allocate mortgage crediting. This is a long-term loan granted by a financial institution to an individual or legal entity. In this case, the object of pledge is necessarily real estate. This can be premises, facilities, as well as residential and industrial buildings. It is worth noting that foreign currency borrowers are persons who have been granted a loan in foreign currency.

The most common application of mortgage lending in Russia is the acquisition by citizens of real estate on credit. Basically, the object of pledge is purchased housing, but they may already have buildings. Real estate provided for a mortgage is registered with the relevant authorities, therefore, foreign currency borrowers for mortgages will not be able to sell it until the loan is repaid without special actions.

Currency loans for mortgages

In the current economic situation, the state in the most difficult situation turned out to be holders of mortgage loans in foreign currency. This is due to the fact that most of these citizens receive income in rubles, and the cost of monthly payments in dollars or euros has risen almost several times, which put a large number of families on the brink of default. The following solutions are discussed:

• Fixing a certain exchange rate;
• The introduction of a moratorium on the collection of arrears;
• Renegotiation of the interest rate on the loan.

It is worth noting that the final decision was not taken, so the foreign currency borrowers on the mortgage seek serious action from the state. Monthly debtors on the loan is becoming more, as citizens are not able to make payments on time in large amounts. Among them may be half of borrowers who borrowed money in foreign currency. The government should take adequate measures against citizens of this category, as the State Duma is preparing to freeze payments. At the same time, the Central Bank offered to help foreign currency borrowers by transferring loans in monetary units of other countries to ruble ones, focusing on a specific rate. However, experts argue that it will be necessary to cope with the consequences for citizens who have taken a loan without weighing all the pros and cons.

The movement of foreign currency borrowers

At the end of the last year, the all-Russian movement of foreign-currency mortgage borrowers was formed. This was due to a sharp devaluation of the ruble, which made it virtually impossible to service loans of this type. This movement has a single goal, which is to transfer the balance of loans on terms acceptable to citizens, maximally equalizing payments in currency and rubles.

The all-Russian movement of foreign currency borrowers includes participants, who are citizens of the state who have issued unprofitable loans at different times. They are represented in various social networks and have their own website. Participants in the movement in question perform certain tasks as far as they can. They are:

• Participation in various conferences;
• organization of events;
• Negotiating with government representatives and financial institutions;
• Work with the media.

The All-Russian movement of foreign-currency mortgage borrowers involves participation on a voluntary basis. Each of the participants has the right to express their opinion, as well as make constructive suggestions that are based on competent arguments.

How does the company of currency borrowers relate to power?

The society under consideration emphasizes the lack of political goals, which leaves a priority to loyal attitude towards the government. The all-Russian movement of foreign currency borrowers also follows a consistent appeal to commercial banks. This allows you to achieve an optimal solution to the problem of mortgages in a foreign monetary unit.

In communication with the media, the movement of foreign currency borrowers does not comment on the opinion on the country's foreign policy. In the press, there are references to society in the context of state policy, but in the main they are a provocation. Quite often, various currents try to make borrowers their allies as a result of an unstable economic situation.

It is worth noting that the movement of foreign currency borrowers prohibits its participants illegal activities. Otherwise they will bear personal responsibility for violation of this requirement. For this reason, they will not receive the help of society.

Commercial benefit of the company

In the process of existence, foreign-currency mortgage borrowers do not derive commercial benefits. Participants in their own selfless desire to put real tasks to solve the current problem. Violation of traffic rules is the commercialization of activities in any form.

Solution

A large number of citizens who find themselves in a difficult situation, are seeking from the government and commercial banks to provide more suitable conditions for repaying loans. Currency borrowers also want mortgage loans not to be issued in currency and at the present time. This is also insisted by the Central Bank, but banks continue to provide this service. This is due to the fact that institutions are also facing a crisis and want to get as much profit as possible. Citizens can determine for themselves how risky this is. At the moment, foreign currency borrowers are hoping for a favorable development of the situation. The number of citizens who take loans in foreign currency has significantly decreased. This is confirmed by the fact that borrowers weigh the pros and cons, making the right choice.