The Bank of Russia is going to study the possibility of providing credit institutions and microfinance organizations with information about purchases of Russians so that they can better assess their income and calculate the debt burden. This was reported by RIA Novosti with reference to the data of the regulator.
Banks and microfinance organizations must calculate the maximum debt burden of individuals when issuing loans from the end of 2019. Now, indicators for loans of 10 thousand rubles or more are calculated as the ratio of monthly loan payments to the borrower’s income for the same period.
Now the Bank of Russia wants to implement the so-called transactional scoring. This type of assessment of a person’s creditworthiness involves studying the amount of his purchases and the outlets that he visits. The higher the amount of purchases and the higher the class of establishments, the more likely you are to get approval for a loan.
New rules according to which banks will be able to access information about transactions of Russians may begin to operate in 2021-2022. Among other things, in October-December 2021, the Bank of Russia is going to create a regulatory framework that will allow remote interaction of financial institutions, state information systems and borrowers in order to quickly assess income. The regulator stressed that this will be possible only with the consent of the citizen.
Earlier it was reported that the level of approval of loans in banks during the coronavirus pandemic fell to a minimum in three years. Credit institutions satisfied less than 34 percent of applications for retail loans. This is three percentage points less than in 2019.