Authorities have agreed to regulate paid installment payments

The authorities have agreed that paid installments should be regulated, Anatoly Aksakov, head of the State Duma Committee on Financial Market, told Izvestia. However, the Central Bank proposes to start with installments above Br15 thousand, while the market wants to increase this figure.

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This is the lowest value in the last seven years

The deputy admitted that by the second reading the amount will be raised to Br60 thousand. In this case, banks will be obliged to transfer information about installments over Br60 thousand to the BCI. In addition, only professional market participants will be able to issue paid installments above this amount, said Anatoli Aksakov.

The authorities are moving towards the fact that the paid installment is regulated as a consumer loan, everything rests only in the amount after which this control should be made, the deputy clarified.

"I expect that we will pass the bill already in the first half of 2025. There will need to be a certain period for market participants to have time to adapt to the changes. Then the new rules on the regulation of installment payments may come into force as early as the second half of 2025," Anatoly Aksakov concluded.

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