CONSUMER LENDING: TRENDS AND CHALLENGES

Ushanov A. E.

The article examines the measures taken by the Bank of Russia in 2023 to cool the consumer lending market in Russia. Among them are the establishment of stricter macroprudential limits on unsecured consumer loans in the interests of limiting the risks of retail lending and achieving its balanced structure, as well as increasing risk factor allowances for them in order to accumulate macroprudential capital reserves and increase the stability of banks. The factors of a significant decrease in the level of approvals by credit institutions of applications for consumer loans are disclosed. Special attention is paid to the reasons for the surge in interest in borrowed credit resources, the facts of creditworthiness of Russians and the level of overdue debt on unsecured loans. It is shown that the most vulnerable category of the population are elderly citizens and young people. Based on the specifics of credit support for this category of borrowers, measures are proposed to complement the legislative regulation.

Keywords:consumer credit, borrowers, indebtedness, overdue debts, unprotected categories, the elderly, youth