Banks will be less likely to lend to Russians with a 50 percent debt load. We are talking about customers who give more than half of their monthly income to loan repayment. Such an opinion was expressed by an Associate Professor of the Department of World Financial Markets and Fintech at the Russian University of Economics in an interview with socialbites.ca. GV Plekhanova Tatyana Belyanchikova comments on the Central Bank of the Russian Federation imposing a surcharge on risk rates for unsecured loans from September 1.
According to Belyanchikova, the new requirements of the Central Bank will mainly affect Russians who are applying for a loan to a particular bank for the first time, but are already under financial burden.
“The measures previously only concerned customers with a very high debt load of over 80 percent, now these measures apply to all debtors with a debt load ratio of 50 percent. Banks will more often avoid lending to the latter,” he said.
Belyanchikova added that the gap between relatively prosperous and risky borrowers will widen. The economist explained that some customers will react negatively to this, but that such a policy of banks will help increase stability.
In addition, the expert did not ignore the fact that credit institutions will demand collateral when giving large sums to borrowers.
As of September 1, the Central Bank started to apply premiums to risk ratios for unsecured loans, while new measures were introduced for consumer loans and credit cards. The higher the premiums, the greater the stock of capital the bank must build up to cover its losses, for example, from credit defaults.
More details – in material “socialbites.ca”.
Formerly socialbites.ca saidHow does education level affect the loan approval process?