The Bank of Russia intends to introduce accreditation for leasing companies and their capital requirement, said at the forum “Vedomosti”, “Effective instruments of growth” the Director of the financial stability Department of the Central Bank Sergey Moiseyev, the correspondent . The regulator expects that the new rules will take effect from 2019.
The Bank together with the government would reform the leasing market, which, according to the rating Agency RAEX, in 2016 reached 3 trillion, and has occupied 11-e a place in the world in terms of the portfolio. Among the reasons for reform—problems associated with the opacity of this market, says Moses.
Now the leasing market is not regulated, the law on leasing defines only the basic concepts that any company can be called a lease and to apply for subsidies and benefits. “We don’t even know how many companies in the market, — said the representative of the Central Bank at the conference. The lessor may even be a natural person”.
Due to the lack of an accreditation system arose, precedents were created-day companies, which receive subsidies from regional budgets, and then disappeared, explained Moses. Another problem, according to him, companies that rent equipment leasing, affiliated entities and get through this tax benefits.
Moses cited the data of the Federal service for financial monitoring, according to which now in Russia there are about 3 thousand companies who at least once carried out a leasing transaction. “If you look at those who publicly declares itself as a leasing company, then there are about two hundred”, — he added.
To increase the transparency of the leasing market, the regulator plans to oblige companies to be self-regulatory organisations (SRO) or obtain accreditation in the Central Bank. Which of these models is appropriate, the regulator has not yet decided, but from the point of view of technical costs to trust the registers of leasing companies of SRO is more profitable, Moiseev said.
Another measure, to ban companies involved in leasing, to conduct other business.
Consider the option of introducing minimum capital requirements for leasing companies. “Perhaps it will be at least 70 million rubles”, — said Moiseev.
In addition, the Central Bank proposes to require them to conduct reporting under IFRS. Now the leasing company is accountable only for the company.
All these innovations apply to companies engaged in financial leasing when the leasing subject is transferred into the possession of the client, the lifetime of the contract coincides with the term of life of the property and all risks are borne by the client, said Moses. Companies dealing with rental property and its rent, innovations will not be affected.
The Central Bank expects that draft legislation regulating the leasing market will open by the end of the year. According to Moses, if the law is adopted in the spring session of the state Duma, the companies will provide one and a half years to adapt to new requirements. To enter into force the law should at the beginning of 2019.