Banks suggested the Central Bank to soften the conditions of syndicated lending
To expand the use of the syndicated lending tool, bankers proposed to change the calculation of the standard of short -term liquidity instead of compliance with a number of rules. The financiers are sure that this will revive the market. The reaction of the Central Bank to the proposals is still unknown.
At the end of last week, at the Congress of the Association of Banks of Russia (ABR), measures were discussed to develop the syndicized lending market. In the new short -term liquidity standard, it is proposed to include syndicates in high -liquid assets. The requirements established for such syndicates in the Central Bank project are submitted gestured, believe in Abr. “Now the borrower must allow the assignment of the rights of claims to any other banks,” they continue there. “In modern banking practice, the condition for free assignment is practically not found.” The banking community has made a proposal to change the conditions for free assignment. In the current version of the debt assignment, it can go to any bank, and the borrower does not know who will own the duty. The community proposes to specify the list of potential new creditors who again entered the syndicate so that the borrower has the right to choose from the so -called white list of banks (30-50 organizations).
The syndicate market now is single transactions: financing large -scale infrastructure and investment projects by the largest banks with state support. A sharp compression of the market occurred in 2022 against the background of Svo. According to the Central Bank, in 2021, the volume of syndicated lending amounted to 2.8 trillion rubles, in 2022 collapsed to 158 billion rubles, by 2024 it restored, but not completely – up to 1.8 trillion rubles.
The interlocutors from among the bankers are confident that syndicated lending must be developed. “The advantages of syndicates for borrowers over bilateral loans: the possibility of financing from smaller banks in the context of exhausting the standards of largest banks, saving time and resources through interaction with one bank-organizing bank, representing the pool of credit conditions in different banks, the expansion of partner banks, potential economy at the rate,” notes the rate on the rate Interlocutor in the banking sector. There are advantages over bonds: confidentiality, flexible conditions and individual decisions, the speed of obtaining credit funds in the presence of the worked out documentation, the presence of a final known number of creditors and the possibility of interaction, the interlocutor “Kommersant” adds.
In the Central Bank, to the Kommersant’s request, regarding the readiness to accept the proposed changes, did not respond promptly. At the same time, on May 20, the Central Bank noted that they took into account the remarks of bankers expressed earlier. In the near future, the Central Bank will decide on short -term liquidity, which will begin to operate on October 1, 2025, the interlocutor “Kommersant”, familiar with the situation.
According to the managing partner of the VETA expert group, Ilya Zharsky, the proposals of ABR look like a compromise decision aimed at overcoming existing regulatory barriers in order to stimulate the development of this segment. “To maintain short -term liquidity, the restriction on the turnover should really be minimal,” said the chief economist of the Institute of Growth Economics named after P. A. Stolypin Boris Kopeikin. – At the same time, it should be borne in mind that the banking system is not so large in comparison with the size of the economy. All capital – less than 9% of GDP. In Germany, for example, above 12%. In China – even more. A possible risk to one borrower or group is also limited by standards, which is quite logical from the point of view of banking regulation. ”
“It can be assumed that in practice the consequences of the adoption of the voiced ABR initiatives can be multifaceted, but in the aggregate can have a very positive effect on the development of syndicated lending,” concludes the managing partner of the IPM consulting Anastasia Vladimirov. “So, the creation of more flexible conditions for the assignment of claims should theoretically increase the attractiveness of syndicated loans for borrowers, which will lead growth of the volume of this segment. » At the same time, according to her, there are certain disadvantages, in particular, the formation of a “white list” of banks can lead to a certain market segmentation and access restriction for new participants.
