The initiative was taken by the National Bank.
Belarus may introduce changes in the issuance of loans. Such a possibility is now being discussed by the National Bank and financial institutions. This is reported by the Belarusian Association of Banks.
There are few details on the possible changes, but the regulator has previously expressed concern about the growing indebtedness of the population on loans, as well as urged banks to reduce the issuance of loans to people.
According to the Belarusian Association of Banks, they want to make changes to the 488th resolution of the National Bank. It concerns the procedure for granting and repayment of loans. Previously, this document has already been amended. For example, in 2024, they introduced a ban on charging a bank for providing a certificate of fulfillment of obligations under the loan agreement.
The National Bank and financial institutions are also discussing emerging issues on investment lending.
Reminder, in April this year, the regulator urged commercial banks to switch to business loans and not so actively issue consumer loans to the population.
On March 21, the head of the National Bank Roman Holovchenko said that the regulator is concerned about the growth of consumer lending, which sometimes comes to the detriment of business financing, and is ready to intervene in the situation, if necessary.
What is the situation on loan debts and what the National Bank fears
The population’s debt to banks on loans amounted to almost Br27.4 billion on May 1, according to the data of the National Bank. This is another record.
The National Bank is concerned about the high growth rate of lending to the population. The regulator believes that it “may pose a threat to financial and price stability.”
Experts, meanwhile, point to distortions in the economy, including hidden inflation, and see prerequisites for the weakening of the national currency.
Nevertheless, the regulator has not changed the calculated values of standard risk (RRR) since March. This is the interest ceiling on bank loans, primarily on real estate.
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