The Central Bank of Russia reported that the State Duma has adopted a law introducing mandatory waiting periods before disbursing certain loans and microloans, alongside a broader set of anti-fraud requirements for banks and microfinance organisations. The cooling-off period will take effect on 1 September 2025. Under the new framework, loans and microloans of RUB 50,000–200,000 may be disbursed only four hours after the agreement is concluded, while amounts above this threshold may be transferred no earlier than 48 hours after the agreement enters into force. Exemptions include loans and microloans below RUB 50,000, mortgage and education loans, car loans where funds are credited directly to the car dealer, and refinancing loans unless the refinancing increases the loan amount. The cooling-off period also does not apply where there are multiple co-borrowers or sureties, and point-of-sale credit without a waiting period will be available only where the individual visits the store or organisation in person. The Bank of Russia will be able to adjust cooling-off parameters based on its assessment of the effectiveness of a credit institution’s anti-fraud measures, including reducing the waiting period for banks meeting regulatory criteria for at least two quarters, with penalties for bad-faith participants. Where a loan or microloan is issued in breach of anti-fraud rules and a criminal case is opened on grounds of theft, the creditor will be barred from demanding repayment, charging interest, or selling the debt to collectors. The law also restricts the issuance and use of payment instruments for individuals included in the Bank of Russia’s database of actual and attempted fraudulent transactions, including a ban on providing electronic means of payment such as bank cards, and a RUB 100,000 monthly cap on transfers to other persons for valid cards that were not blocked. Additional measures include a 48-hour cap preventing crediting more than RUB 50,000 to tokenised (virtual) cards after issuance, mandatory collection and verification of borrowers’ Taxpayer Identification Numbers via government systems, and rules requiring MFOs to credit funds only where borrower and payee details match and to refuse lending to individuals in the regulator’s database once MFO access to that database begins on 1 March 2026. Faster, near-real-time information exchange between creditors and credit history bureaus is set to take effect on 31 December 2026, and the Bank of Russia’s criteria for identifying banks eligible for reduced cooling-off periods are to be developed later.
Central Bank of Russia 2025-02-11
Central Bank of Russia reports State Duma law setting a 4 to 48 hour cooling-off period for loans and tightening anti-fraud rules
The Central Bank of Russia announced a law adopted by the State Duma mandating waiting periods for certain loans and microloans, effective 1 September 2025, with exemptions for specific loan types. It includes anti-fraud measures, such as restrictions on payment instruments for individuals flagged in the Bank of Russia's fraud database and a RUB 100,000 monthly transfer cap for unblocked cards. Additional provisions involve mandatory borrower verification and enhanced information exchange between creditors and credit history bureaus by 31 December 2026.