The Board of Directors of the Bank of Russia has approved a new version of the regulatory act on macroprudential allowances. This decision was made to limit the creditworthiness of large companies and credit risks of banks, the press service of the Central Bank said in a statement.
The new allowances will apply to the increase in banks' requirements for large corporate borrowers with a high level of debt burden. This tool will limit the financing of large lent organizations by banks and will help banks accumulate a capital buffer to cover the risks of corporate lending, the regulator emphasizes.
After the registration of the regulatory act by the Ministry of Justice, the Board of Directors of the Bank of Russia will be able to make a decision on the establishment of macroprudential allowances. This decision may come into force no earlier than April 1, 2025.
