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Bank of Russia’s measures to support households and creditors

2 March 2022
Press release

To support households and ensure resilience of creditors amid the restrictions imposed by Western countries, the Bank of Russia implements the following additional measures.

1. The regulator cancelled the macroprudential risk-weight add-ons for the following loans issued on and after 1 March 2022:

  • Unsecured consumer loans in rubles (except those with the EIR1 above 35% and facilities with the EIR ranging from 20% to 35% and DSTI2 above 80%);
  • Mortgage loans in rubles (except those with LTV3 above 90%);
  • Loans granted to individuals in rubles for financing under equity construction agreements.

2. The Bank of Russia cut the macroprudential risk-weight add-ons for unsecured consumer loans in rubles issued on and after 1 March 2022 with DSTI above 80% and the EIR ranging from 20% to 35%.

3. The regulator postponed the introduction of macroprudential limits for unsecured consumer loans until 1 January 2023.

4. The Bank of Russia recommends credit institutions, microfinance organisations, consumer credit cooperatives, agricultural consumer credit cooperatives, and housing savings cooperatives to suspend until 31 December 2022 the procedures for forced eviction of debtors (former owners and their cohabitants) from residential properties which creditors have previously foreclosed on.

The effective interest rate on a consumer loan.

2 The ratio of debt service to income.

The ratio of the principal to the fair value of the collateral.

The reference to the Press Service is mandatory if you intend to use this material.

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