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Home»News»How banks prepared for the introduction of liability for violating mortgage standards

How banks prepared for the introduction of liability for violating mortgage standards

April 11, 2025

On April 1, a supervisory standard came into force in Russia, establishing the liability of banks for violating the mortgage standard, which has been in effect since the beginning of the year and is designed to minimize risky practices in the mortgage market.

The entry into force of both standards has eliminated some of the practices that the Bank of Russia called risky, according to realtors interviewed by Forbes. Thus, mortgages with cashback and offers of loans with a low down payment are becoming less common. However, new mechanisms have also appeared, for example, the use of an unfulfilled letter of credit

On April 1, a supervisory standard came into force in Russia – a document that establishes the liability of banks for failure to comply with the rules of operation of credit institutions. So far, in addition to the supervisory standard, only one mandatory set of rules in lending has been approved – the mortgage standard, designed to eliminate the scheming of the mortgage market. Subsequently, the scope of the supervisory standard may be expanded. For example, the Central Bank spoke about plans to develop a set of rules for syndicated lending and car loans together with the professional community.

Realtors interviewed by Forbes in early April claim that banks and developers have prepared for the introduction of the supervisory standard. Some practices that are directly prohibited by the mortgage standard from January 1, 2025 or that will be prohibited from July 1 are already fading away. However, new schemes have also appeared that do not formally contradict the mortgage standard.

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