The Central Bank has fixed the maximum since 2012 the level of debt load of Russians, 10.6 percent. Just credit bondage climbed about 40 million people. While loans in the Bank the Russians are already taking the most minimal consumer needs – the purchase of medicines, food and clothing, experts say. But to give loans turns out not all Russians already owe the Bank over $ 17 trillion.
The level of debt load of Russians peaked in the summer of 2012. As of 1 October the rate rose to 10.6%, according to the latest data of the Central Bank, announced during the conference “Lending 2020: Challenges and new opportunities.”
Basically the debt burden, which reflects the ratio of loan payments to the borrower’s income, increased due to unsecured consumer lending. In other words, the Russians have accumulated debts that they were given by banks without collateral.
The indicator of debt load of Russians unsecured loans on October 1, 2019, too, made new high and reached 8.9%. As noted, this is the highest percentage since January 2015. In addition, the Russians actively recruited loans for the purchase of housing mortgage.
Total in Russia for at least one credit is at 39.5 million people. More than half (54%) of the employed population.
However, the monetary regulator tries not to panic and argument brings a world of experience. “It’s quite a bit about the international comparisons. We know that countries which really had problems on the consumer credit market demonstrated a much greater debt load”, — explained to journalists during the conference the head of the Department of instability CB Elizabeth Daniel.
The speaker also noted that the possibility of a growing risk of debt load of Russians remains. According to her, the regulator is concerned about this, as well as too active transition of the population to consumer model. According to her, the Central Bank wants to “halt the rising debt burden”.
“To say that we have a problem already accumulated debt load, all the same people take out loans, you shouldn’t say it,” — said the head of the Department of the Central Bank.
Meanwhile, the incomes of Russians almost do not grow, and credits to the delay. Thus, at the beginning of the current month in total, the Russians owed to banks 17.1 trillion rubles. Thus at the end of 2018 individuals left the banks in debt for record $ 14.9 trillion rubles. This is by 22.4% more than in 2017. In the first quarter of 2019, the share of loans with a PD above 80% was 9.7%.
Credit for survival
Interviewed experts do not think the debt load of Russians dangerously high, but note the alarming signals on the background of the impoverishment of Russians.
The debt load we have is actually low in comparison with the United States or Europe, “funny”, but it is superimposed on a fall in the money incomes of Russians, explains in an interview the Director of the banking Institute of the Higher school of Economics Vasily Solodkov.
According to him, the Central Bank takes measures to curb consumer lending in the absence of prospects of growth in the welfare of Russians. “We understand that people will just go with an outstretched hand. Because these loans take to some consumer need. Someone has to buy drugs, someone to dress your baby, and someone has to dress up, you know, some people just need food to acquire,” — said Solodkov.
“Then there is the danger that people an increasing number of the funds received will be spent to pay debts previously taken. There are not a very good cycle, because in order to pay for their earlier debt, we must take new and so on,” — said the expert.
About 45% of the clients of microfinance institutions issue loans to maintain your current lifestyle, according to the research of the financial marketplace “Unicom 24”.
However, about half of borrowers with income below 30 thousand rubles borrow to buy Essentials, including food.
However, the Central Bank is trying to reverse the negative trend on the debt load of Russians with the help of restrictive measures. So, from 1 October, 2019 on the retail lending market the Bank of Russia introduced new rules. When issuing consumer loans more than 10 thousand rubles. banks are required to calculate for the client the debt burden indicator (PDN). The higher it is, the more points allowance for the risk factor. The Central Bank has introduced a risk premium for unsecured consumer loans in the amount of 30-500 percentage points.
Long-term measures of the Central Bank to restrict lending to borrowers with a high PD will slow down the growth of debt load of the population, expressed the opinion in the head of the Department of credit risks of retail business of Raiffeisenbank Alexey Kramarsky.
“Meanwhile, the issue of over-indebtedness concerns of individual market segments. This primarily unsecured consumer loans to customers with low income,” admits the expert.