Cbank wants to limit high-risk consumer lending from Jul–Sep 2022
MOSCOW, Dec 27 (PRIME) -- The Russian central bank will consider setting macroprudential limits to consumer loans issuing by banks and microfinancial organizations from July 1, 2022, as seen by PRIME in the regulator’s materials released late on December 24.
At the first stage of the plan, consumer loans with a tax burden ratio of over 80% or loans issued for more than five years will be limited to 25% of quarter issuing, and the parameters can become stricter later.
According to the central bank, the share of loans with a debt burden of over 80% reached 31% in July–October, including 44.2% of such loans issued by microfinancial organizations.
The central bank said that Russia’s mortgage lending grew by 30.1% on the year as of December 1 and that corporate lending reached 12.2% as of the date, the highest figure from 2015.
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