The Central Bank of Russia has adopted a roadmap, developed jointly with ministries and other agencies, to transition banks and other lenders to a procedure under which decisions on issuing loans and microloans will be based only on borrowers’ current official income information, following an earlier instruction from the President of the Russian Federation to establish such an obligation. The roadmap envisages giving lenders access to an information system that can provide up-to-date official borrower income data within one minute. Subject to individuals’ consent, lenders would receive data from the Federal Tax Service of Russia and the Social Fund of Russia via the Digital Profile, which allows financial institutions to use customer data held in government information systems without hard-copy documents. The required set of data is expected to be available to lenders by March 2026, and lenders may also use other sources of official income information.
Central Bank of Russia 2025-08-12
Central Bank of Russia adopts roadmap for lenders to rely on official income data for loan decisions
The Central Bank of Russia, with ministries and agencies, has adopted a roadmap requiring banks to base loan decisions on borrowers' current official income data. Following a presidential directive, lenders will access real-time income data from the Federal Tax Service and the Social Fund of Russia via the Digital Profile, with borrower consent. The system is expected to be operational by March 2026.