The law allowing the Central Bank of Russia to introduce macropreential limits for banks and microfinance organizations when issuing loans and loans, adopted in the third, final reading, follows from the information on the State Duma website.
Now the regulator will be able to introduce restrictions by establishing for credit institutions the maximum permissible share of certain types of products: in particular, unsecured consumer loans and loans. The exception will make for loans for education and loans to persons with disabilities for the purchase of rehabilitation and treatment. The provisions of the law will begin to act from January 1. The decision to establish limits will be made taking into account the determined Central Bank of the risk of risk increase in the debt load of borrowers.
Chairman of DG Vyacheslav Volodin considers the adoption of measures justified against the background of the current situation in the lending market, the State Duma reported. According to the Central Bank, consumer lending has increased by 16 percent from the beginning of the year, and the share of borrowers who have more than 80 percent of income for debt service is more than 30 percent.
In the Central Bank previously reported that the tool of direct quantitative restrictions can be used in the second half of 2022. In the regulator promised to provide banks “for a while to configure their systems in order to track these limits.” The Central Bank tool will resort to the risk strengthening. According to the Central Bank estimates, consumer loans in 2021 will grow about 20 percent rates, and the trend on a slowdown, noted in October, does not consider steady regulator.