Published on: 2026-07-27
Source: Central Bank of Russia – Central Bank of Russia –
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1. Bank of Russia tightened on IV In the quarter of 2026, the values of macroprudential limits (MPL)1 for unsecured2 consumer loans (credits) without a credit limit, non-targeted consumer loans secured by real estate and motor vehicles are maintained. The MPL values for unsecured consumer loans (credits) with a credit limit remain unchanged. The macroprudential surcharges were not revised.
In the second quarter of 2026, the portfolio of unsecured consumer loans grew by 2.8%, mainly due to an increase in cash loan issuances, including the realization of deferred demand for credit amid falling interest rates in the economy. The share of problematic3 debt remains stable (13.2% of the portfolio as of 01.07.2026; 13.1% as of 01.04.2026).
The values of leading indicators for consumer loan servicing quality have improved. The share of debt overdue by more than 30 days by the third month from the loan issuance date was 0.7% for cash loans issued in April 2026, and 2.4% for credit cards (-0.9 percentage points in both lending segments compared to loans issued in April 2025). At the same time, risks of deterioration in the quality of servicing newly issued loans remain in case of a slowdown in the growth of borrowers’ real incomes.
To limit the accumulation of risks in the consumer lending segment, the maximum permissible limits (MPL) for issuing the riskiest unsecured consumer loans (credits)—those with a high debt burden on the borrower and for a long term—have been tightened.
To limit the possibilities of regulatory arbitrage, the MPL values for non-targeted consumer loans secured by real estate and motor vehicles are also being tightened and aligned with the MPL values for unsecured consumer loans.
For these purposes, the MPL for microfinance organization loans is also tightened and aligned with the MPL values for unsecured consumer loans.
| Unsecured consumer loans (credits) without a credit limit | ||||
|---|---|---|---|---|
| IV quarter of 2026 | For reference: | |||
| Q3 2026 | Actual share of issuances in Q2 2026 | |||
| Credit (loan) characteristics | Importance of the MPL | Loan (credit) characteristics | Meaning of MPL | |
| PDN4 over 50% | 15% | PSD over 50% | 18% | 16% |
| Of these: PDN over 80% |
1% | Of these: PDN over 80% |
3% | 2% |
| The loan repayment term is 5 years or more | 1% | The loan repayment term is 5 years or more | 5% | 2% |
| Non-purpose consumer loans (borrowings) secured by automotive and motorcycle vehicles | ||||
| Q4 2026 | For reference: | |||
| Q3 2026 | Actual share of issuances in Q2 2026 | |||
| Loan (credit) characteristics | Value of MPL | Loan (credit) characteristics | MPL Value | |
| PDN over 50% | 15% | MACD above 50% | 18% | 17% |
| Of these: NOx over 80% |
1% | Among them: PDN over 80% |
3% | 2% |
| Non-purpose consumer loans secured by real estate | ||||
| Q4 2026 | For reference: | |||
| Q3 2026 | Actual share of issuances in Q2 2026 | |||
| Loan (credit) characteristics | Meaning of MPL | Loan (credit) characteristics | Significance of MPL | |
| PDN over 50% | 15% | MPC over 50% | 18% | 20% |
| Of them: MAC over 80% |
1% | Of these: PDN over 80% |
3% | 7% |
The values of macroprudential add-ons for unsecured consumer loans (credits) have not been revised. The macroprudential buffer as of 01.07.2026 amounted to 7.8%5 of the portfolio net of reserves. The buffer may be released in case of an increase in loan losses and the need to support banks.
2. Bank of Russia saved MPL values atIV the first quarter of 2026 for mortgage loans on completed and under-construction housing in multi-apartment buildings, as well as for loans on individual housing construction. The values of macroprudential add-ons on loans for housing in multi-apartment buildings have not been revised.
The mortgage loan portfolio for housing in apartment buildings grew by 2.2% quarter-on-quarter in Q2 2026, partly due to increased demand in June 2026 amid expectations of changes to the “Family Mortgage” terms. The loan portfolio for individual housing construction (IHC) grew by 3.2% quarter-on-quarter. The quality of servicing mortgage loans issued for purchasing housing in apartment buildings remains high: the share of loans overdue by more than 30 days at the ninth month after issuance was 0.6% for loans issued in October 2025 (-0.5 percentage points compared to loans issued in October 2024).
In the structure of mortgage issuances, the share of the riskiest loans is small. For example, in Q2 2026, 4% of mortgage loans were issued with a debt-service-to-income ratio (DSR) above 80% (compared to 6% in Q2 2025), and 1% had an initial down payment of no more than 20% of the property’s value (5% in Q2 2025).
In the IH segment, there is also an improvement in the structure of issuances. In Q2 2026, the share of loans issued to borrowers with a debt burden ratio exceeding 50% was 37% (49% a year earlier), and with a debt burden ratio exceeding 80% – 7% (15% in Q2 2025).
Given the improvement in lending standards in the mortgage segment, the Bank of Russia decided to maintain the MPL values for the fourth quarter of 2026. Macroprudential add-ons on loans for housing in apartment buildings were also not revised. As of 01.07.2026, a macroprudential capital buffer of 1.4% of the portfolio excluding reserves has been formed for such loans, allowing banks to cover losses in case of stress.
3. Bank of Russia tightened MPL7 values at IV the quarter of 2026 for targeted auto loans8 and did not revise the surcharge values for loans secured by pledges of motor vehicles.
The growth rate of the auto loan portfolio is gradually stabilizing: the portfolio of such loans increased by 1.7% quarter-on-quarter in Q2 2026 (+1.6% in Q1 2026). The share of problem debt also stabilized at 4.5% of the portfolio as of 01.07.2026. The accumulated macroprudential capital buffer as of the same date was 2.5% of the portfolio of these loans, net of reserves for potential losses.
To limit the potential growth of citizens’ over-indebtedness, the maximum permissible loan (MPL) values have been tightened for auto loans issued to borrowers with a debt burden ratio (DBR) exceeding 50%, and among them, borrowers with a DBR over 80%. This tightening will not lead to a reduction in the availability of auto loans, as the share of such loans in bank issuances is less than the established MPL values.
| Targeted auto loans | ||||
|---|---|---|---|---|
| Q4 2026 | For reference: | |||
| Q3 2026 | Actual share of issuances in Q2 2026 | |||
| Loan (credit) characteristics | The Value of MPL | Loan (credit) characteristics | Meaning of MPL | |
| PDN over 50% | 20% | PDN over 50% | 25% | 15% |
| Of them: PDN over 80% |
1% | Of these: VPD above 80% |
5% | 1% |
4. The Bank of Russia has not revised the value of the surcharge to the risk coefficients for the increase in credit claims to large companies with increased debt burden.
Starting from 01.03.2026, the macroprudential surcharge on the increase in banks’ loan claims to large companies with high debt levels is set at 100%. During March to May 2026, the largest groups of companies with high debt levels9 increased their debt to banks more slowly than the corporate sector as a whole (+2.1% and +3.8%, respectively). As of 01.07.2026, banks had formed a macroprudential capital buffer for the increase in loan claims amounting to 74 billion rubles.
In the future, the Bank of Russia may continue to increase the surcharge if the risks to banks regarding requirements for such companies increase.
5. Macroprudential add-ons on corporate credit claims in foreign currency have not been revised.
In the second quarter of 2026, the currency composition of the corporate loans and bonds portfolio, excluding the effect of currency revaluation10, decreased by 0.8 percentage points to 11.8%11. Currently, there is no need to create incentives to de-dollarize the loan portfolio, since foreign currency loans are mainly taken by exporting companies that have sufficient foreign currency revenue to meet their obligations.
6. The Bank of Russia has not revised the value of the national countercyclical buffer effective from 01.07.2025 (0.5 percentage points added to banks’ capital adequacy requirements).
Despite the acceleration of lending growth in certain segments, there are no signs of credit overheating. According to the Bank of Russia’s assessment, the banking sector has sufficient capital reserves to support sustainable financing of the economy in 2026–2028, taking into account decisions already made on macroprudential tools and the planned increase in microprudential capital adequacy buffer requirements12. Banks continue to gradually restore the capital adequacy ratio: as of 01.07.2026, it amounted to 14.1% across the banking sector as a whole13 (13.2% as of 01.01.2026 after 12.5% as of 01.01.2025). In this regard, the value of the national countercyclical buffer has not been revised.
1 For credit institutions and microfinance organizations (MFOs).
2 Without a mortgage and/or pledge of a motor vehicle.
3 Problem loans are understood to be loans classified in categories IV–V (section 1 of the report in form 0409115), with a 100% probability of default (section 1.1 of the report in form 0409115), as well as those with payment delays of more than 90 days (section 3 of the report in form 0409115).
4 Borrower’s debt burden indicator.
5 According to the reporting forms 0409114 and 0409135.
6 Individual Housing Construction.
7 For credit organizations and MFIs.
8 Loans (credits) provided for the purchase of a motor vehicle, the borrower’s obligations under which are secured by a pledge of the motor vehicle.
9 Groups that include companies subject to macroprudential surcharges.
10 Elimination of revaluation of the yuan to ruble exchange rate as of 01.07.2026.
11 According to reporting form 0409101.
12 In accordance with the Instruction of the Bank of Russia dated 26.05.2025 No. 220-I “On mandatory standards and add-ons to the adequacy standards of banks’ own funds (capital) with a universal license and on the supervision by the Bank of Russia of their compliance,” for systemically important credit institutions, the add-ons (including a countercyclical add-on of 0.5 percentage points) have increased in total from 1.25 percentage points as of 01.07.2025 to 2.0 percentage points starting 2026; for other banks, from 1.0 to 1.5 percentage points.
13 According to the reporting forms 0409123 and 0409135. The indicators are calculated for credit institutions that are required to comply with the relevant requirements. The calculation is made excluding the Bank of Non-Core Assets.
When using the material, a reference to the Press Service of the Bank of Russia is mandatory.
27.07.2026 11:50:00
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