The Central Bank of Russia announced that micromortgage companies (MMCs) will begin operating from 22 October 2025 as a new category of financial market participant designed to support government programmes promoting housing affordability in Russia’s regions. The Central Bank of Russia will supervise MMCs and maintain a list of authorised companies, and has suspended the limit on the effective interest rate for MMCs through 31 March 2026 to support market entry. Under the relevant law, 100% of an MMC’s equity must be held solely by constituent territories of the Russian Federation, and each region may establish no more than one MMC.
Central Bank of Russia 2025-10-03
Central Bank of Russia launches supervision regime for micromortgage companies starting 22 October 2025 and suspends effective interest rate cap through 31 March 2026
The Central Bank of Russia announced micromortgage companies (MMCs) as a new financial market participant category to support housing affordability, effective 22 October 2025. The Central Bank will supervise MMCs, maintain a list of authorised companies, and has suspended the effective interest rate limit for MMCs until 31 March 2026. MMCs must be wholly owned by Russian Federation territories, with each region allowed to establish only one MMC.