Published on: 2026-04-29
Source: Central Bank of Russia – Central Bank of Russia –
An important disclaimer is at the bottom of this article.
1. The Bank of Russia has already tightened the values of macroprudential limits (MPLs) for mortgage loans for the acquisition of under-construction and ready housing in apartment buildings for the third quarter of 2026, and has also not revised the macroprudential surcharges.
The share of mortgage debt on the purchase of housing in apartment buildings with overdue payments of more than 90 days as of 01.04.2026 amounted to 1.0%1 (0.6% as of 01.04.2025 and 0.9% as of 01.01.2026). The increase in arrears is mainly due to loans issued in 2023-2024 within the framework of mass preferential mortgages.
Effective from 01.07.2025, the MPL restricts the provision of the riskiest mortgages. In the first quarter of 2026, 4% of mortgage loans were provided with a debt burden ratio (DBR) exceeding 80% (6% in the first quarter of 2025), 1% with an initial down payment of no more than 20% of the housing cost (6% in the first quarter of 2025). To limit the issuance of the riskiest mortgages and further improve the structure of the mortgage portfolio, Bank Rossii decided to tighten the MPL in this segment; at the same time, this restriction will not lead to an increase in the share of mortgage refusals, since it corresponds to the current issuance structure in the first quarter of 2026.
Meanings of MPL for mortgage loans at III Quarter 2026 for banks with a universal license
| Loans for the purchase of housing under construction (DDU) | ||||
|---|---|---|---|---|
| Q3 2026 | Reference: | |||
| Q2 2026 | Actual share of issuances in Q1 2026 | |||
| Loan (credit) characteristics | Significance of MPL | Loan (credit) characteristics | Meaning of MPL | |
| PDN exceeds 80% or the initial contribution does not exceed 20% | A total of 5% | The PDR exceeds 80% or the initial contribution does not exceed 20% | A total of 7% | A total of 3% |
| From them: the down payment exceeds 50% and the initial contribution does not exceed 20% | 1% | Source: PDN exceeds 50% and the initial contribution does not exceed 20% | 2% | 0.2% |
| Loans for the purchase of ready-made housing (non-DDU) | ||||
| III quarter of 2026 | Reference: | |||
| II quarter of 2026 | Actual volumes of issuance in the first quarter of 2026 | |||
| Loan (credit) characteristics | Meaning of MPL | Credit (loan) characteristics | Meaning of MPL | |
| PDN exceeds 80% or LTV2 exceeds 80% | In total 15% | PDN exceeds 80% or LTV exceeds 80% | A total of 20% | A total of 7% |
| From us: PDN exceeds 50% and LTV exceeds 80% | 5% | From them: PDN exceeds 50% and LTV exceeds 80% | 10% | 0.2% |
To cover the risks on previously issued loans, banks have formed a macroprudential capital buffer in the amount of 1.4% of the mortgage portfolio as of 01.04.2026.
2. The Bank of Russia has already tightened onIII quarter of 2026 MFL on mortgage loans in the IZS5 segment and on unsecured consumer loans secured by real estate.
Effective from 01.10.2025, MPL limits the provision of loans in the IHS segment and non-target consumer loans secured by real estate, issued to borrowers with a high debt burden who more often incur overdue payments. In the first quarter of 2026, in the IHS segment, the share of loans issued to borrowers with PDN over 50% was 44%, and with PDN over 80% — 13%; in the segment of non-target loans secured by real estate, the share with PDN over 50% was 19%, with PDN over 80% — 8%.The share of loans with overdue payments of more than 90 days in the IJS segment reached 4.4% on 01.04.2026 (3.4% on 01.04.2025 and 4.0% on 01.01.2026), which is due both to delays in the construction of houses by some contractors and to the increased level of overdue debt of borrowers. The quality of non-target consumer loans secured by real estate also deteriorates – as of 01.04.2026, the share of loans with overdue payments of more than 90 days was 6.1% (3.6% on 01.04.2025 and 5.1% on 01.01.2026).
To limit lending to borrowers with increased debt burden, the Bank of Russia tightened the MRL in this lending segment to the third quarter of 2026. For mortgage on IZHS, a new MRL has been established, which will limit the issuance of loans with a DTI exceeding 50%. Similarly to the MRL in other lending segments, the IZHS limits will operate on a nested basis: a limit is set on the segment for issuing loans with a DTI exceeding 50%, and from them a nested sublimit is established for issuing loans with a DTI exceeding 80%.
MPL values for mortgage loans on IZHS and non-target consumer loans secured by real estate on III quarter of 2026 for banks with a universal license
| Loans for IHC | |||
|---|---|---|---|
| III quarter of 2026 | Reference: Q2 2026 | ||
| Loan (credit) characteristics | Meaning of MPL | Loan (credit) characteristics | The Meaning of MPL |
| GDP exceeds 50% | 28% | GDP exceeds 50% | not established |
| Out of them: PDN exceeds 80% | 3% | From them: PDN exceeds 80% | 10% |
| Non-targeted consumer loans secured by real estate | |||
| Q3 2026 | Reference: Q2 2026 | ||
| Loan (credit) characteristics | Meaning of MPL | Loan (credit) characteristics | The meaning of MPL |
| PDD exceeds 50% | 18% | GDP exceeds 50% | 25% |
| From them: PDN exceeds 80% | 3% | From them: PDN exceeds 80% | 10% |
3. The Bank of Russia has canceled the current MRLs and the macroprudential surcharges on unsecured consumer loans (credits/loans)8.
On the unsecured consumer lending market in 2025, there was an implementation of previously accumulated risks. The share of problem loans as of 01.04.2026 amounted to 13.1% (10.8% as of 01.04.2025 and 13.0% as of 01.01.2026), which was caused by the maturing of loans issued during the credit overheating period of 2023–2024, as well as the continued reduction of the loan portfolio10.
Leading indicators of loan servicing are gradually improving. The share of debt overdue by more than 30 days in the third month from the moment of loan issuance was 0.8% for cash loans issued in January 2026, and 2.7% for credit cards (-1.0 p.p. and -0.5 p.p. compared to issuances in January 2025). To cover risks on previously issued loans, banks formed a macroprudential capital buffer as of 01.04.2026 in the amount of 8.3%11 of the portfolio net of reserves, which the Bank of Russia may release in the future if banks face difficulties covering losses on existing loans.
MPLs established for unsecured consumer loans (credits) limit the issuance of the riskiest loans (credits) to borrowers with a high debt load, therefore the Bank of Russia keeps them unchanged. The share of unsecured consumer loans (credits) with PDN above 50% has decreased to 18% in the first quarter of 2026 (24% in the first quarter of 2025).
4. The Bank of Russia kept the MRL12 on targeted auto loans unchanged for the third quarter of 2026, and has already tightened the MRL for non-targeted loans (borrowings) secured by automotive transport collateral. The values of macroprudential buffers were not revised.
Under the influence of the MPL in the segment of targeted auto loans and non-targeted loans (borrowings) secured by automotive transport means, the loan structuring has improved. The share of issuance with PDN over 50% for targeted auto loans decreased to 17% in the first quarter of 2026 (20% in the first quarter of 2025), non-targeted loans (borrowings) secured by automotive transport means – to 10% (43% in the first quarter of 2025). As of 01.04.2026, the accumulated macroprudential capital buffer amounted to 2.5% of the portfolio of these loans, net of reserves for possible losses.
The Bank of Russia lowered the MPL for targeted car loans to the level of Q2 2026 in Q3 2026, and has already tightened it for non-targeted loans (borrowings) secured by motor vehicles.
Values of MPL for non-targeted consumer loans secured by motor vehicles on III quarter of 2026 for banks with a universal license and MFIs
| Non-targeted loans (credits) secured by automotive vehicles | |||
|---|---|---|---|
| III quarter of 2026 | Reference: Q2 2026 | ||
| Loan (credit) characteristics | The meaning of MPL | Loan (credit) characteristics | Meaning of MPL |
| PDN exceeds 50% | 18% | GDP exceeds 50% | 20% |
| Of these: PDN exceeds 80% | 3% | From them: PDN exceeds 80% | 5% |
| Reference: Targeted car loans | |||
| Q3 2026 | Q2 2026 | ||
| Loan (credit) characteristics | Meaning of MPL | Loan (credit) characteristics | Meaning of MPL |
| PDN exceeds 50% | 25% | GDP exceeds 50% | 25% |
| From them: GDR exceeds 80% | 5% | From them: PDN exceeds 80% | 5% |
5. The Bank of Russia has not revised the significance of the add-ons to risk coefficients for the growth of credit claims to large companies with increased debt burden.
Since March 1, 2026, the macroprudential add-on on the growth of banks’ credit claims to large companies with high debt load has been significantly increased – from 40% to 100%. From the moment the add-on was established (April 1, 2025) until April 1, 2026, under the effect of the macroprudential add-on, the debt of companies in the total amount of 3.8 trillion rubles was subject to it, and banks formed a macroprudential capital buffer in relation to the increase in credit claims in the amount of 63 billion rubles.
In the future, the Bank of Russia may continue to increase the surcharge if the risks of banks to the requirements for such companies increase.
6. Macroprudential add-ons on corporate credit claims in foreign currency were not revised.
By the first quarter of 2026, currency exposure of the portfolio of corporate loans and bonds, excluding the impact of currency revaluation, increased slightly—from 12.1% to 12.3%. Currently, there is no necessity to create incentives for de-dollarization of the loan portfolio, since loans in foreign currency are mainly taken by exporting companies that have sufficient foreign currency earnings to fulfill their obligations.
7. The Bank of Russia has not revised the significance of the national anticylclical buffer, effective from July 1, 2025 (0.5 percentage points to the capital adequacy standards of banks).
Credit to the economy is growing at balanced rates. According to the Bank of Russia, the banking sector has a sufficient capital buffer to support sustainable financing of the economy this year and in subsequent periods, taking into account the already adopted decisions on macroprudential instruments and the planned increase in macroprudential buffers to capital adequacy standards16. Banks continue to gradually restore capital adequacy ratios: as of 01.04.2026, it amounted to 13.9%17 for the banking sector (13.2% as of 01.01.2026 after 12.5% as of 01.01.2025).In connection with this, the value of the national countercyclical buffer was not revised.
1 According to reporting form 0409704.
2 Ratio of the principal mortgage loan amount to the fair market value of the collateral.
According to the reporting forms 0409114 and 0409135.
4 After deducting reserves for possible losses.
5. Individual housing construction.
In the first quarter of 2025, the shares amounted to 59% and 36%, respectively.
In the first quarter of 2025, the shares amounted to 70% and 44%, respectively.
8 For credit organizations and microfinance organizations (MFO).
9. Problematic loans classified in categories IV–V (section 1 of the reporting form 0409115) with a default probability of 100% (section 1.1 of the reporting form 0409115), as well as loans overdue by more than 90 days (section 3 of the reporting form 0409115).
As of 01.04.2026, the portfolio of unsecured consumer loans decreased by 3.1% year-on-year.
11% calculated as a share of the debt on the loan portfolio net of reserves for possible losses.
12 For credit organizations and MFIs.
13 Loans (credits) provided for the acquisition of motor vehicles, with the borrower’s obligations secured by a pledge of the motor vehicle.
14 Removal of the revaluation of the yuan exchange rate to the ruble as of 01.04.2026.
15 According to the reporting form 0409101.
16 According to the Instruction of the Bank of Russia dated 26.05.2025 No. 220-I “On the mandatory standard and surcharge to the standards of sufficiency of own funds (capital) of banks with a universal license and on the supervision by the Bank of Russia over compliance” for systemically significant credit organizations, the surcharge (including the countercyclical surcharge of 0.5 percentage points) cumulatively increased from 1.25 percentage points as of July 1, 2025, to 2.0 percentage points from 2026; for other banks – from 1.0 to 1.5 percentage points.
17 Based on reporting forms 0409123 and 0409135. Indicators are calculated for credit organizations that are required to comply with the relevant requirements. The calculation is done without taking into account the Bank’s non-core assets.
When using the material, a reference to the Press Service of the Bank of Russia is mandatory.
29.04.2026 18:00:00
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