Russia’s Central Bank reports decline in issuance of high-risk consumer loans

The Bank of Russia’s macroprudential limits set for unsecured consumer loans in Q1 2024 will remain in place for the second quarter.
The number of high-risk consumer loans being issued in Russia is decreasing, Russian Central Bank Governor Elvira Nabiullina said at the State Duma (lower house of the parliament).
"The share of risky consumer loans is on the decline. For example, where people pay more than 80% of their income to service the loan, the extension [of these loans] has fallen from 36% to 17%, a noticeable decline. This year it [the share] will keep decreasing," she said.
The Bank of Russia’s macroprudential limits set for unsecured consumer loans in Q1 2024 will remain in place for the second quarter.
The regulator said earlier that in late 2023 amid the tightening of monetary and macroprudential policy a slowdown in consumer lending occurred. During the year as a whole as macroprudential limits were used in unsecured consumer lending the share of risky loans to citizens (maximum permissible burden exceeding 50%) went down from 63% to 45%.




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