The Russian Central Bank wanted to impose restrictions on mortgages
"The tool will allow limiting the provision of mortgage loans to borrowers with loans, as well as loans with a small down payment," the document says. It notes that macroprudential surcharges may be used for these purposes before obtaining powers.
Now the regulator can set restrictions on the issuance of unsecured retail loans only. The last time the Central Bank updated them from October 1 for unsecured loans and loans to customers of banks and microfinance organizations with a maximum debt load of 50 to 80 percent.
Earlier it became known that the issuance of preferential mortgages in Russia reached a historic high, and in September they accounted for 60 percent of the total volume of housing loans. At the same time, in the same month, the minimum down payment on a preferential mortgage has already been raised from 15 to 20 percent. Against this background, the head of the Bank of Russia called for raising the minimum contribution amount again, and the Ministry of Finance was concerned about the gap between mortgage rates.