The Central Bank of Russia has reset its macroprudential stance for 2026 Q3 by tightening limits on several higher-risk retail lending segments while leaving the broader capital-based toolkit unchanged. Stricter caps will apply to mortgages for housing under construction and existing apartments, IHC mortgages, home equity loans and general-purpose consumer loans secured by motor vehicles. By contrast, limits for unsecured consumer loans and car loans remain unchanged, as do mortgage and other macroprudential add-ons and the national countercyclical buffer at 0.5 percentage points. The tighter measures target lending to borrowers with high debt service-to-income ratios, low down payments or high loan-to-value ratios against a backdrop of worsening loan performance in some segments. Mortgages for housing under construction will face a 5% combined cap for loans with DSTI above 80% or down payments of no more than 20%, down from 7%, with the sublimit for DSTI above 50% and down payment of no more than 20% cut to 1% from 2%. For existing housing, the cap for DSTI above 80% or LTV above 80% falls to 15% from 20%, with the sublimit for DSTI above 50% and LTV above 80% reduced to 5% from 10%. IHC mortgages get a new 28% cap for borrowers with DSTI above 50% and a 3% sublimit for DSTI above 80%, while the home equity cap for DSTI above 50% is cut to 18% from 25%. For general-purpose consumer loans secured by motor vehicles, the cap for DSTI above 50% is lowered to 18% from 20% and the sublimit for DSTI above 80% to 3% from 5%. The Bank cited rising arrears, including more than 90-day overdue ratios of 1.0% for apartment mortgages, 4.4% for IHC mortgages and 6.1% for home equity loans as of 1 April 2026. Unsecured consumer loan limits were left unchanged after the share of new loans to borrowers with DSTI above 50% fell to 18% in 2026 Q1 from 24% a year earlier, even though non-performing loans rose to 13.1% as of 1 April 2026. The Bank also kept the 100% add-on for increases in claims on large highly leveraged companies, covering RUB 3.8 trillion of outstanding corporate loans and supporting a RUB 63 billion capital buffer, and maintained add-ons on corporate foreign currency claims. The national countercyclical buffer was unchanged because the banking sector capital adequacy ratio rose to 13.9%, and the Bank indicated that the add-on for claims on large highly leveraged companies could be raised further if risks increase.

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