Tuesday, January 19 2021 11:48
Alexandr Avanesov

The system of guarantees for loans attracted by Armenian citizens  will undergo institutional changes

The system of guarantees for loans attracted by Armenian citizens  will undergo institutional changes

ArmInfo. The system of guarantees for loans attracted by Armenian citizens will undergo institutional changes. The RA National Assembly at the January 19  sitting in the second and final reading introduced amendments to the  Civil Code, proposed by the NA deputy from the "Enlightened Armenia"  faction Arkady Khachatrian.

The MP noted that commercial banks that provide credit funds require  guarantees from the borrower in order to avoid the risks of  non-repayment. Often among the guarantors are relatives and friends  of the borrower. But they are also often unaware of the financial and  legal consequences of this step, finding themselves in a difficult  financial situation if the main borrower fails to fulfill its  obligations. As a result, the property of the guarantor is seized. As  the deputy noted, today for this reason entire villages have been  arrested, the inhabitants of which are on the "black list", worsen  their credit history, for which reason they are refused when applying  for loans for the development of their farms. For the same reason,  government programs to assist farmers who have proven to be insolvent  work poorly. "They arrest the guarantor's cow, but do not touch the  borrower's property," the deputy noted.

The submitted document proposes to establish a provision according to  which the claims of banks and credit institutions should be directed,  first of all, to the borrower himself, whose property is subject to  arrest and put up for sale. And only in case of lack of financial  resources, contact the guarantor. In addition, it is proposed to  establish a clearly prescribed amount in relation to the guarantor.  There are situations, Khachatryan continued, when the guarantor  agrees to attract a loan of 1 million drams, but subsequently the  main borrower attracts new loans or re-issues the old one. As a  result, the amount of 1 million drams increases several times, taking  into account fines and penalties. A clear fixation of the amount of  guarantees will help avoid this phenomenon in the future. The  document establishes the maximum amount of guarantees, more than  which the guarantor will not pay, and in case of attracting new  loans, his written consent will be required


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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000