Central bank says to toughen mortgage terms for highly-debted

MOSCOW, Dec 27 (PRIME) -- The central bank will raise the risk factor allowances for mortgages to the borrowers with a heavy debt burden from March 1, the authority said in a statement on Wednesday.  

"In order to… limit mortgage growth thanks to involvement of the people with a high debt, and to stimulate banks to use official information about the income of the borrowers for the assessment of the debt burden, the central bank will additionally raise the the risk factor allowances for the loans with a high debt burden from March 1, 2024," the statement read.

The measure is aimed at curtailing the risks connected with a high debt burden, the central bank said.

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