The Central Bank has imposed new restrictions on the use of risky consumer loans. This was done to slow the increase in the debt burden of the population. In this respect reported on the editor’s website.
Especially for borrowers who spend more than 80 percent of their income on debt repayment, the share of new loans in total loans will be reduced from 20-25 percent to 5 percent. For those who spend 50 percent to 80 percent of their income on debt, the limit will be 30 percent instead of previously unlimited.
Similar restrictions are imposed on microfinance institutions. Experts predict that the innovations of the Central Bank will reduce the volume of loans given by 22% in the fourth quarter compared to the absence of restrictions.
Overall, loan growth will slow by 6 percent in 2023. – up to 13-17% instead of the previous estimate of 19-23%. According to the regulator, this will make the loan portfolio structure more balanced and reduce risks for both banks and borrowers.
Now 64 percent of total consumer loan volume falls on people who have invested more than half of their salary in debt. The Central Bank believes that such a high debt load poses a threat in the event of possible economic shocks. That’s why the regulator decided to accelerate the transition to a more sustainable lending model.
Central Bank of the week saidHow are Russians forced to take loans at 1000%?
Earlier the Russians had decided to give the right to ban to return give yourself credit.
Source: Gazeta
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