Debt overburden in Russia: mitigation measures and their effectiveness

Khalturina O.A.1, Tereshkina N.E.2
1 Новосибирский государственный университет экономики и управления \"НИНХ\", Russia
2 Сибирский государственный университет путей сообщения

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Journal paper

Economic security (РИНЦ, ВАК)
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Volume 8, Number 1 (January 2025)

Citation:

Khalturina, O. A., & Tereshkina, N. E. (2025). Debt overburden in Russia: mitigation measures and their effectiveness. Economic security, 8(1), 213-226. https://doi.org/10.18334/ecsec.8.1.122540

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=80598242

Abstract:
The article analyzes lending to individuals and legal entities. It was found that the reduction of the refinancing interest rate of the Bank of Russia (since 2013, the key interest rate) and, as a result, the lending rate not only contributes to the growth of the bank's loan portfolio but also increases the volume of overdue loan debt, deteriorating its quality and provoking threats to the economic security of creditors and borrowers. The implementation of a tight monetary policy, an increase in the key interest rate, the formation of bank reserves, increased capital requirements, i.e. stricter requirements for creditors themselves, do not have the desired effect. At the same time, the implementation of measures directly related to borrowers shows more effective results. These measures include the establishment of a debt burden indicator that directly depends on the borrower's disposable income, as well as programs to improve financial literacy. The authors of the article justify the need to change the order of implementation of the program to improve financial literacy.

Keywords: commercial bank, borrower, loan portfolio, key interest rate, debt burden ratio

JEL-classification: G21, G28, Е52, E58

Highlights:

  • В ссудных операциях заинтересованы как кредитные организации, так и их клиенты.
  • Снижение ключевой ставки Банка России и требований к заемщикам увеличили кредитный портфель банков, ухудшили его качество, спровоцировали внутренние угрозы экономической безопасности кредиторов и заемщиков.
  • Использование инструментов ДКП, как меры воздействия на кредитные и не кредитные финансовые организации, ожидаемых результатов не принесли.
  • С целью поддержания экономической безопасности Центральным Банком и Правительством РФ проводятся мероприятия, воздействующие на заемщиков посредством ограничительных операций банков и средствами массовой информации.
  • В работе предлагается повышение финансовой грамотности за счет массированных и активных мероприятий со стороны средств массовой информации и социальных сетей

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References:

Ibragimova P.A. (2018). Problema zakreditovannosti naseleniya Rossii [The problem of debt load of the population of Russia]. Vestnik Dagestanskogo gosudarstvennogo universiteta. Seriya 3: Obschestvennye nauki. (1). 34-49. (in Russian).

Kartamysheva E.A., Barsukov M. B. (2021). Otsenka urovnya i dinamiki dolgovoy nagruzki fizicheskikh lits v Rossii [Assessment of the level and dynamics of the debt burden of individuals in Russia]. Politics, economics and innovation. (4). 9. (in Russian).

Khalturina O.A. (2022). Realizatsiya federalnyh ipotechnyh programm v Rossii [Implementation of federal mortgage programs in Russia]. Zhurnal prikladnyh issledovaniy. (9). 22-28. (in Russian).

Lev M.Yu. (2019). Spravedlivaya tsena v sisteme formirovaniya ekonomicheskoy bezopasnosti: sovremennye problemy [A fair price in the system of formation of economic safety: modern issues]. Russian Journal of Innovation Economics. (1). 207-218. (in Russian).

Parma R.V., Kozlov N.A. (2021). Postroenie modeli vozdeystviya kreditnoy nagruzki na politicheskoe povedenie rossiyskikh grazhdan [Building a model of the impact of credit load on the political behavior of russian citizens]. Power. (3). 76-85. (in Russian).

Romanova E.V., Shishkina D.A. (2020). Rossiyskiy rynok potrebitelskogo kreditovaniya: problemy, innovatsii, perspektivy [Russian market of consumer lending: problems, innovations, prospects]. Promyshlennost: ekonomika, upravlenie, tekhnologii. (1). 103-106. (in Russian).

Sychyova-Peredero O.V. (2020). Finansovaya gramotnost naseleniya kak faktor kreditnoy aktivnosti domashnikh khozyaystv [Financial literacy of the population as a factor of credit activity in households]. Uchet i statistika. (4). 13-25. (in Russian).

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