Photo: Oleg Karsaev / “Kommersant”
State Duma deputies intend to limit the interest rate the MFI and set it to 150%. The amendments can enter into force by the end of this year, writes “Kommersant”
The state Duma is preparing amendments to the laws “On consumer credits” and “About microfinance performance and microfinance organizations”. Their essence is to limit the maximum size of interest rates on microloans, writes “Kommersant” with reference to the source in the financial-economic bloc of the government and several market participants.
The development of the amendments was confirmed by the head of the Duma Committee on financial market Anatoly Aksakov. In a press-service of the Bank of Russia, the newspaper reported that proposals have already been received in CB, now the regulator is studying them.
“We intend to set a ceiling for interest rates on MFI loans to 150%,” — said Aksakov.
According to the Central Bank, referred to by the newspaper, the average value of the full cost of microloans are 599,3%. the limit values of the rates MFIs reach 799%. The interlocutors of “Kommersant” noted that the deputies began to work on the amendments on behalf of the President of Russia Vladimir Putin.
According to a source involved in the discussion of the draft, the amendments should enter into force before the end of this year.
“Kommersant” writes that in the case of the adoption of such measures, the market MFIs in the first place will leave the organization, specializing in the issuance of short-term loans (loans “to pay”). Market participants believe that they can stand before the reorganization. According to the Central Bank at the end of the third quarter of last year, the share of such loans was about 30% in the total portfolio of microfinance organizations (22 bn).