Banks we have turned the program to extend credit secured by works of art, so they were not deploying.
"Bank" A new symbol, which previously offered loans on the security of works of art, turned the program. The bank reported that the program is not profitable and the bank now offers services for the storage and circulation of works of art. Russian International Bank admitted that there were isolated instances of collateral works of art, and he is now willing to consider such a service, but only for their clients. Willingness to take a pledge of any work of art is expressed in the OTP bank. "In principle, the bank is willing to consider such exotic mortgages. But be aware that taking, for example, copyrights as collateral, the bank can then face the problem of their evaluation. In addition, they will be very difficult to subsequently implement because of the specifics. Works of art and antiques, too, could be a problem assessment ", - says Director of Product Development Directorate of OTP Bank Igor Antonov." - Yesterday in Kommersant-Money.
Can this explain the financial crisis and the fact that interest on other types of collateral (real estate, automobiles, and securities) are growing and the size of the discount, too. Nevertheless, under these loans are given.