The Central Bank plans to adjust the calculation of the debt burden indicator by banks
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The Bank of Russia plans to change the use of internal models of banks, which are used to determine the borrower’s income when calculating the debt burden indicator. In addition, the draft prepared by the Central Bank should correct the norms related to mortgages. This was reported press office regulator.
Currently, the debt burden is calculated by formula: average monthly payments on all credits (loans) / average monthly income.
In particular, the Central Bank proposes to limit the risky practices of mortgage lending with an increase in the cost of housing in the primary market. Banks will be required to apply premiums to risk ratios in relation to loans for housing, which is bought under a share building agreement. These measures will also affect housing that is purchased within a year after its commissioning.
In addition, the Central Bank clarified the conditions under which banks are not required to apply premiums to risk ratios for mortgages under state support programs. To the indicator of the tax burden, which should not exceed 60%, it is planned to add a requirement for the minimum amount of the down payment (at least 30%). The Central Bank also determined a closed list of state mortgage programs.
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