OREANDA-NEWSOn October 1, the total debt burden of the population for all types of loans reached 10.6%, according to preliminary estimates of the Central Bank. This is the highest level since at least July 2012, it follows from the presentation presented by the head of the financial stability department of the Bank of Russia Elizaveta Danilova (there were no earlier data in the presentation).

The total financial burden of citizens has been increasing since the end of 2017, mainly due to unsecured consumer lending. As of October 1, the service ratio of unsecured loans amounted to 8.9% - this is the highest since the beginning of the year. “The indicator is approaching the peak level that was observed in 2015”, Danilova said at the conference “Crediting 2020”, the Russian media reports. Since the beginning of this year, Russian banks have softened the standards for issuing loans, Danilova said. The Central Bank sees this in an increase in issuance to customers with a high debt burden. PDN, or PTI - is the ratio of the monthly payments of the client on loans and his income.

“The share of loans with a PTI indicator above 60% only in the first and second quarter began to increase. Prior to that, the banks themselves maintained standards at a fairly high level”, she said. In the presentation of the Central Bank, there is also a sharp increase in the approval of loans to customers whose liabilities exceed 80% of income - in the second quarter of 2019, the share of such disbursements turned out to be higher than 11%.