Macroprudential policy and key measures: Bank of Russia report
The Bank of Russia has developed its macroprudential policy framework and intends to implement some key measures in the short term. They are presented in the regulator’s information and analytical report.
The new document focuses on the use and interaction of macroprudential tools. The high priority measures include macroprudential limits to be established from 1 January 2023 to curb the rise in household debt burden and maintain a balanced structure of unsecured consumer lending at banks with a universal licence and microfinance organisations. The said measure will make it possible to limit the share of new risky consumer loans without increasing the regulatory capital for such products. This will help retain banks’ capacity to support the economy transformation through lending.
