The State Duma adopted a bill in the first reading, giving the Central Bank the right to limit the issuance of consumer loans by banks and microfinance organizations. Relevant information is published on the draft bills on the State Duma website.
“Bank of Russia on the basis of the decision of the Board of Directors has the right to establish direct quantitative restrictions and the period during which direct quantitative restrictions are applied during which direct quantitative restrictions are applied. This measure is aimed at reducing the threats to the financial stability of Russia, it is stated in the text of the draft law. The Central Bank will not be able to limit the issuance of mortgages and loans on the security of the car.
Recently, the Bank of Russia has repeatedly raised the problem of high lover of the population. At the end of September, the Central Bank said that he would consider in the fourth quarter of 2021 the issue of changing the formula for calculating the debt indicator. The Central Bank plans to increase macropreential surcharges in such a way as to complicate the issuance of loans for long term and issuing loans to citizens with high debt load.
In September, the head of the Central Bank of Elvira Nabiullina proposed to limit the amount of overpayment of loans. People must see the fair value of the loan with all the “winding options”, Nabiullina said. While such a measure is valid only for mortgage loans.