The Central Bank proposed to introduce a permanent opportunity to take credit holidays 
The Central Bank wanted to make permanent the opportunity to take credit holidays. Such a proposal was announced by Mikhail Mamuta, Head of the Service for the Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Bank of Russia, at a conference of the Association of Russian Banks (ADB), TASS reports.
Mamuta said that the extension of the mechanism for introducing credit holidays to consumer loans on an ongoing basis, “it would be very, very useful”, since the borrower receives a guaranteed right to a respite at a difficult moment for himself. Now this is not always possible, because some lenders do not always meet the client's needs and begin to use their dominant position. Mamuta believes that legislative support for such an initiative would be in great demand.
In 2020, at the height of the pandemic, Russians affected by coronavirus restrictions were given the right to take a vacation on mortgage and consumer loans. According to the Central Bank, 72 percent of borrowers who took advantage of this opportunity returned to the payment schedule.
Currently, mortgage borrowers in difficult life situations have the right to defer or reduce payments. After activating this option, more than 80 percent of borrowers return to the payment schedule.
Recently, the Central Bank has made several attempts to restrict consumer lending. The Central Bank noted that the growth in loans issued exceeds the increase in household income. On November 24, the State Duma adopted in the third reading a bill allowing the Central Bank to introduce macroprudential limits (quantitative restrictions) for banks and microfinance organizations when issuing loans and borrowings.