By the first day of spring, the government and the NNM Bank plan to provide the head of state with documents describing the maximum allowable level of debt for each borrower. Which means that banks and microfinance organizations will not be able to demand from the client the amount of debt that exceeds a certain part of his salary. The percentage of non-recoverable income should be such that the consumer can exist in the surrounding society.
A person with debt, reaching the limit, will not be able to take a loan or a loan until it reduces its debt or increases its income. Thus, in addition to the relatively new concept of “credit history”, a new term will appear – consumer debt burden indicator.
A special unit has been created in CNA Bank, in which professional financiers will develop a new lending instrument. Current issues are planned to be discussed jointly with banking organizations and the credit bureaus.
According to several experts
The optimal DTI should be in the region of 30% and in no case exceed half of the borrower’s salary. This parameter should help to better and quickly assess the solvency of the client and, therefore, significantly reduce the risks of creditors.
Number of issues that need to be resolved
At the moment, there are already a number of issues that need to be resolved in order to operate a new instrument. For example, it is not clear how to identify the exact amount of monthly payments from a borrower because he could borrow from different lenders. Similarly, at the moment there is no tool that reliably determines a person’s wealth. It does not always consist only of wages. In addition, the percentage set by the DTI will affect the well-being of people with different incomes in different ways. 70% that remain after mandatory deductions from 60,000 rubles and from 10,000 rubles will have a completely different effect on a person.
In order to fully implement the idea, credit organizations should have prompt access to information about a potential borrower. And the data for the purpose of the indicator of the debt burden of the client may be, in addition to the BCH in the tax and pension funds.