Central Bank of Russia wants to differentiate macro-surcharges on loans to large companies, plans to obtain additional powers for this

MOSCOW. Sept 17 (Interfax) - The Central Bank of Russia wants to obtain additional powers that will allow it to set macro-surcharges on loans to legal entities not only depending on the characteristics of the loan, but also on the indicators of the borrower, according to the draft financial market development guidelines for 2027-2029.

"The Central Bank of Russia will continue its work on improving the mechanism for setting macroprudential surcharges; in particular, the issue of introducing legislative amendments is being considered that would provide the Central Bank with the authority to set such surcharges taking into account not only the characteristics of the credit (loan), but also the characteristics of the borrower itself (in particular, the value of the interest coverage ratio [ICR] for organizations, which will allow for more precise calibration of surcharges to risk coefficients)," the CBR said.

These powers will allow for more flexibly setting macro-surcharges for borrowers (legal entities) - in particular, depending on the value of the interest coverage ratio, the CBR said. "This will make it possible to differentiate macro-surcharges for large corporate borrowers," the bank's press service told Interfax.

Macroprudential surcharges are the first macroprudential instrument to appear in the Central Bank's arsenal. As early as 2013, the Central Bank applied increased capital requirements to limit risky consumer lending, and since 2018 it has had the authority to change capital requirements for risky loans by setting surcharges through the board of directors.

In April 2025, the CBR for the first time set a macroprudential surcharge on the increase in credit claims to large companies with increased debt burden. Currently, its value is 100%.