Cbank launches additional measures to restrict consumer lending - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Cbank launches additional measures to restrict consumer lending

MOSCOW, Jun 11 (PRIME) -- The central bank has introduced additional measures to restrict the debt burden in unsecured consumer lending, and will launch markups to risk ratios depending on the debt burden and a full cost of a loan starting from October 1, the regulator said in a statement on Tuesday.

The measures are introduced to alleviate the risks connected with an increase of RussiansТ debt burden, the central bank said.

At the same time, the authority wants to obtain powers to limit some loans in case the upper threshold of the debt burden is exceeded to discourage active provision of unsecured consumer loans and mortgages with low initial installments. The measure should also reduce the excessive debt burden of Russians.

A central bankТs poll of banks show that expansion of consumer lending roots in the loans taken out by people who are already burdened with debt.

УData of the poll of banks show that the burden of borrowers is growing. In the first quarter of 2019, the share of loans with the level of debt burden above 80% amounted to 9.7%. This may mean that the expansion of lending happened thanks to the groups of people who are already burdened with debts,Ф the regulator said.

The regulator also plans to restrict the banksТ ability to collect overdue debt from people whose debt burden exceeds a certain amount. The bank plans to define the amount and start enforcing the measure in the second quarter of 2020, according to the bankТs plan of measures.


11.06.2019 18:36
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 77.9658 +0.6413 06 jun
USD 68.6319 -0.3832 06 jun
Stock Market Indices
1D 1W 1M 1Y
rtsi 1285.78 +2.26 18:50 05 jun
micex 2792.74 +0.96 18:50 05 jun
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 203.05 +0.79 18:49 05 jun
lkoh 5460.00 +0.55 18:49 05 jun
rosn 401.95 +3.05 18:49 05 jun
sber 219.10 +2.82 18:49 05 jun
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.8050 +0.7300 14:59 05 jun
USDTD 68.4100 -0.7300 17:44 05 jun