The Central Bank of the Russian Federation reported that quantitative restrictions on consumer loans may be introduced in 2022 
Instrument for direct quantitative restrictions on consumer loans deployed in the second half of 2022. The corresponding assessment was given at the conference of the S&P agency by the director of the financial stability department of the regulator Elizaveta Danilova, Interfax writes.
The bill on the Central Bank's right to introduce such measures has passed the first reading and is being finalized by the relevant State Duma committee. If the law is passed, the regulator will give banks “some time for them to set up their systems in order to track these limits,” she explained. The Central Bank will resort to this instrument if it sees an increase in risks.
“Naturally, we will look at the situation on the market, at the dynamics of the debt burden growth, where we will look at different indicators – both at the macrolevel and at the level of individual borrowers. Again, we will look at the distribution of risky loans, ”said Danilova. According to her, consumer loans in 2021 will grow at a rate of about 20 percent, and the slowdown trend noted in October, the regulator does not consider stable.
The State Duma adopted the bill on the right of the Central Bank to introduce quantitative restrictions on lending in the first reading on October 21st. The Bank of Russia insists on granting it such powers to “cool down” unsecured lending. The Association of Russian Banks believes that an attempt to solve the problem of the overheated consumer loans market through quantitative restrictions can only aggravate the situation – an illegal market may be formed.