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MOSCOW, June 23 From September 1, 2023, the Bank of Russia will tighten the regulation of the issuance of unsecured consumer loans by increasing premiums on risk ratios, according to a message published on the website regulator.
«From September 1, 2023, the Bank of Russia is increasing the premiums on risk ratios for unsecured consumer loans. The measure is aimed at accumulating a macroprudential capital reserve and increasing the stability of banks in the event of an increase in losses on consumer loans,» the message says.
The measure will be in effect in parallel with tighter macroprudential limits on the provision of loans and borrowings to borrowers with a debt burden of more than 80% and for a period of more than 5 years, which will come into effect in the third quarter of this year.
The new surcharges will have a greater impact on credit cards, which have a higher total cost of credit than cash loans. Under them will fall 82% of the issuance of credit cards and 66% of the issuance of cash loans. «The average markup on newly provided loans will increase from 0.21 to 0.89 (at the beginning of 2022 it was 1.23),» the Central Bank noted. loans, the capital stock will accumulate gradually. And in a year, due to allowances, it will amount to 6.5% of the portfolio of consumer loans, taking into account the deduction of reserves for possible losses. But it may be lower if the lending structure changes in favor of less risky loans, the regulator added. «, concluded the Bank of Russia.