Starting from March 1, 2025, the Bank of Russia reduces the risk factor allowances for mortgage loans with a down payment of more than 20% provided to borrowers with a debt burden of less than 70%. This is stated in the message of the Central Bank.
In the riskier segments, the surcharges remain unchanged. Starting from July 1, 2025, the regulator will begin using the macroprudential limits tool to limit risks in these segments and may revise the values of surcharges.
The measures previously taken by the Central Bank to tighten macroprudential policy1 contributed to reducing the risks of mortgage lending in 2024, the regulator emphasizes.
Loans granted to borrowers with a debt burden of more than 80% accounted for 13% of disbursements in the fourth quarter of 2024, compared with 45% in the second half of 2023.
The share of risky loans with low down payments (less than 20%) has also decreased: from 50% in the second half of 2023 to 13% in the fourth quarter of 2024.
