Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
In accordance with Federal Law No. 353-FZ of December 21, 2013 "On Consumer Credit (Loan)", the Bank of Russia, in the manner established by it, quarterly calculates and publishes the average market value of the full cost of a consumer credit (loan) by categories of consumer credit (loans) separately for credit institutions, microfinance institutions, consumer credit cooperatives, agricultural consumer credit cooperatives, pawnshops based on the data they provide on the values of the full cost of a consumer credit (loan). The period for which the calculation was made is indicated in the heading of each calculation.
At the time of concluding the consumer credit (loan) agreement, the total cost of the consumer credit (loan) in percentage per annum may not exceed the lower of the following values: 292 percent per annum or the average market value of the total cost of the consumer credit (loan) in percentage per annum of the corresponding category of consumer credit (loan) calculated by the Bank of Russia, applied in the corresponding calendar quarter, by more than one third.
Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.