Central Bank threatened “spinning of nuts”

Central Bank of Russia will continue to “twist nuts” to achieve conscientious behavior from the participants of the financial market, the head of Elvira Nabiullina regulator said, TASS reports.

“We will continue to” twist nuts “here, until we see that the market behaves more mature, he sees their benefit in long-term relationships with clients, and not to lure him here and now money is unfair,” she threatened.

Nabiullina also stated that people should have the opportunity to abandon any service proposed by him, even if they encountered her imposition. To do this, it is planned to introduce a certain cooling period, which is now valid for voluntary insurance. It is about the opportunity to return the money already paid for at least 14 days after the design of the contract.

On the initiative of the Central Bank to allow Russians to abandon the services imposed by banks when issuing a consumer loan, it became known in December 2020. It was reported that the regulator prepares the appropriate amendments to current legislation that will allow you to introduce a 14-day cooling period.

Since 2020 in Russia, against the background of reducing rates on bank deposits, an investment boom is observed. The Central Bank even assumed that all economically active Russians can go to the stock exchange. In the interests of the protection of citizens inserting funds to securities, a law on restrictions for inexperienced investors has been adopted, which prohibits banks and brokers to offer them complex financial products.

Investment products can also encourage customers in the banks themselves: in April, the Central Bank warned that the contract for the relevant services often persuade to conclude those who come to arrange or extend the contribution, while promising a higher yield.

/Media reports.