The Central Bank intends to abolish restrictions on the full value of consumer loans

The Central Bank (CB) of Russia from January 1 to March 31, 2025 will cancel the limitation of the full cost of credit (TCC). This was reported on December 25 in the press service of the regulator.

They noted that the Board of Directors of the Central Bank decided not to limit the TCOP on consumer loans and credits.

In addition, in case of significant changes in market conditions that may affect the full cost of credit, the Bank of Russia introduces a moratorium.

"The cost of funding for financial organizations has grown quite strongly c III quarter 2024 both because of the growth of the key rate and because of the competition of banks for funding to meet the short-term liquidity ratio," - indicated in the regulator.

It is specified that the restrictions would make consumer loans less affordable for Russians. At the same time, the risks of manipulating the calculation of the PSC could also increase.

The Central Bank added that for MFIs restrictions on the full cost of the loan will still remain in relation to short-term loans for small amounts.

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Earlier, on December 18, the head of the State Duma Committee on the financial market Anatoly Aksakov told in an interview with "Izvestia" that the authorities have already agreed in principle on the introduction of a cooling period in the issuance of consumer loans by 2025. According to him, there is now a discussion of thresholds and suspension periods. One of the proposals: a cooling off period of four hours when issuing a loan for the amount of Br50 to Br200 thousand and for two days if the loan amount is more than Br200 thousand.