Central Bank wanted to make a permanent opportunity to take credit holidays. About such a proposal was informed by the head of the service for the protection of consumer rights and ensuring the availability of financial services of the Bank of Russia Mikhail Mamut at the conference of the Association of Banks of Russia (ADB), reports TASS.
Mamut stated that the distribution of the mechanism for introducing credit holidays on consumer loans on a permanent basis would be very and very useful, “since the borrower receives a guaranteed right to a breather in a difficult moment. Now it is not always possible, because some lenders do not always go towards the client and begin to use their dominant position. Mamut believes that legislative support such initiative would be very popular.
In 2020, in the midst of the pandemic, the Russians affected due to coronavirus restrictions were given the right to take holidays on mortgage and consumer loans. According to the Central Bank, 72 percent of borrowers who took advantage of this opportunity, returned to the payment schedule.
Now the right to deferment or decline in payments have mortgage borrowers who have fallen into a difficult life situation. In the payment schedule after activating this option, more than 80 percent of borrowers are returned.
Recently, the Central Bank undertook several attempts to limit consumer lending. The Central Bank noted that the growth of loans issued exceeds the increase in incomes of the population. On November 24, the State Duma took in the third reading the bill allowed by the Central Bank to introduce macroprudential limits (quantitative restrictions) for banks and microfinance organizations when issuing loans and loans.