OREANDA-NEWS. In 2019, almost one in four Russian borrowers gave out loans over 80% of their income. Such data are presented in a review by the Fitch rating agency based on the new unified Central Bank methodology for determining the maximum debt burden, which has become mandatory for banks since October 1, 2019.

According to this methodology, a group with a debt burden above 80% can now include just under 25% of banking customers. Previously, banks assessed the share of such borrowers less conservatively: in the first quarter, on the basis of their own models, they classified less than 10% of borrowers as over-credited.

The situation with the least borrowed borrowers (those who spend less than 30% of income on debt repayment) is the opposite: banks accounted for more than 35% of customers, and according to the Central Bank methodology, they include a little more than 20% of borrowers.

As Fitch recalls, the Central Bank now recommends that market participants use the income that a citizen can confirm with documents to calculate. Lenders can also clarify information at the Pension Fund of Russia and the Federal Tax Service or rely on the average income level in the client's region of residence.