On weighted average of full cost (effective interest rate) of consumer loans (borrowings) from 1 September to 30 September 2014 and marginal values of full cost of consumer loans (borrowings) applied in 2015 Q1 

Pursuant to Federal Law No. 353-FZ, dated 21 December 2013, ‘On Consumer Credit (Loan)’, the Bank of Russia publishes information on the weighted average of full cost of consumer loans (borrowings) (by categories) from 1 September to 30 September 2014 and the marginal values of full cost of consumer loans (borrowings). These values are applied to consumer loan (borrowing) agreements concluded by credit institutions, as well as non-bank financial organisations (microfinance organisations, credit consumer cooperatives, agricultural credit consumer cooperatives and pawnshops) with households in 2015 Q1.

This information is presented in subsection ‘Consumer Lending / Information on Average Market Values of Effective Interest Rates on Consumer Loans (Borrowings)’ in section ‘Information and Analytical Materials’ on the Bank of Russia website.

The Bank of Russia does not determine interest rates, but calculates their market average by certain categories. The marginal deviation is not a recommended interest rate, but maximum legally acceptable deviation from the market average.

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

14.11.2014 00.00.00