11% of citizens who have loans in April has almost completely lost income, calculated the "old" and the Central Bank. The Bank of Russia will belong to the risk group more than a third of borrowers
Photo: Global Look Press
In the last two weeks — a month, when Russia acted mode of self-isolation, 11% of borrowers lost revenues, says the report of the Bank of Russia (*.pdf).
Another 10% from those who has obligations, reported that their income fell by more than half. 14% of borrowers witnessed a decline in earnings more than a third. The assessment made on the basis of a telephone survey that the Central Bank has conducted a ‘old”. It was attended by 1.5 thousand of Russians age 18 and over 440 cities and nearly 300 rural settlements in 83 regions. The survey was conducted on 16–24 April, the margin of sampling error does not exceed 3%.
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"Thus, a total of 35% of borrowers (16% of all respondents) fell into the risk group after the first month after the introduction of restrictive measures in connection with epidemic" of the — concludes the Bank of Russia. A Central Bank survey showed that half of the citizens having loans until they complained about the fall of earnings.
According to the regulator, on September 1 in Russia, there were 39.5 million citizens who pay loans (in the new study, the CBA does not specify the number of Russian borrowers). Thus, the risk may be about 18.8 million Russians.
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What's going on with the credit load
According to the Central Bank in April the fifth part of Russians somehow increased its financial burden: 15% of the respondents borrowed from friends, 5% applied for loans in banks, and 1% — in a microfinance institution (MFI).
Three-quarters of new borrowers, or 16% of all respondents had borrowed money to cover current expenses. Half of this group (9% of respondents) admitted that they take in debt due to the fall in own revenues.
A little less than half of respondents (47%) said that they or someone in their family is already paying the loan. Almost a third of borrowers (29%) have an unsecured loan, the 9% — mortgages, 5% — a car loan. 12% of families have credit card debt or card installments.
The Bank of Russia regularly collects information on the level of the debt burden of borrowers. In October 2019, the figure is highest for seven years, wrote RBC. To limit unsecured lending and reduce the risks for customers of the Central Bank since October 1, has tightened the rules for banks issuing unsecured loans: market participants are required to generate the risk coefficients for the loans issued to borrowers with high debt load.
The restrictions of the Bank of Russia led to a slowdown in unsecured lending early in the year, but in March during the crisis, banks issued a record volume of new loans. In April, with the beginning of mode isolation, the pace of lending slowed.
the Results of cash loans fell three times after entering a regime of self-isolation
Although the regulator has given relief to banks in times of crisis, control over the debt level should remain stressed the head of the Central Bank Elvira Nabiullina.
How many borrowers are counting on the support of the state
A third of the borrowers reported that they needed help from the state for the payment of existing loans, according to a study of the Central Bank. And support for expect 43% of those whose income in April declined slightly.
“the burden of Credit, already perceived by the Russians as heavy, in the current situation all the more alarming — even those who in the parameters to lower income until he gets to risk group" — summarizes the Bank of Russia.
Now, Russian borrowers can expect a reprieve on loans under the credit holidays, residential holidays and breaks that banks provide on their own programs. According to statistics of the Central Bank, on April 24, nearly 1 million Russian borrowers have already turned to banks for vacation credit or restructuring. The level of approval of such applications was approximately 55%.
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