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The Bank of Russia plans to limit the issuance of certain types of loans

MOSCOW, 20 Jan – PRIME. In the next two years, the Bank of Russia will work out the issue of quantitatively limiting the issuance of unsecured consumer loans by banks to borrowers with a high debt burden, the regulator said. The Central Bank will expand measures to protect consumers of financial services. ” providing for a quantitative limitation of the share of issuing high-risk types of loans, in particular, unsecured consumer loans to borrowers with a high level of debt burden, “- said in the release. On Wednesday, the Bank of Russia published a roadmap for improving the calculation of the debt burden indicator and for organizing the Central Bank’s regulation of the activities of financial organizations in terms of their application of the debt burden indicator of a borrower – an individual for 2021-2022. plans to consider the need to develop and implement new macroprudential tools. For this, the Central Bank intends to publish an advisory report on the feasibility of expanding this toolkit. Banks have reduced the issuance of consumer loans by a quarter in 2020 As a result, the regulator intends to collect and analyze proposals from the banking community and the microfinance market on the advisability of introducing restrictions on the issuance of certain types of loans and level. In 2019, the Bank of Russia for the first time published a roadmap to improve the calculation of the debt burden indicator (PDI), in which for the first time it announced its intention to legislate for itself the authority to establish restrictions on the issuance of certain types of loans by banks in excess of the PDI limit set by the Central Bank. Since October 2019, Russian banks and microfinance organizations are obliged to calculate the maximum debt burden of individuals when issuing borrowed funds. The debt burden indicator (PDI) for loans over 10 thousand rubles is calculated as the ratio of monthly loan payments to the borrower’s monthly income.

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