The Central Bank of Pridnestrovie will be able to calculate the debt burden of borrowers

The Supreme Council of the Pridnestrovian Moldavian Republic adopted in the second final reading amendments to the laws "On the Central Bank of the Pridnestrovian Moldavian Republic" and "On Banks and Banking Activity", initiated by Deputy Alexander Korshunov. According to the adopted changes, the Central Bank of the Pridnestrovian Moldavian Republic will have the right to calculate the indicator of the debt burden of individual borrowers and then send it to commercial banks and microfinance organizations. Such data will make it possible to assess the degree of risk of non-return by citizens of funds under credit or loan agreements.

Similar rules are applied in the Russian Federation and in other countries. Such a mechanism, according to experts, allows minimizing the risks of commercial banks for non-repayment of credit funds and to protect citizens: there were cases when, not having the financial ability to pay off several loan agreements, borrowers were forced to sell property, including housing. The current legislation in Pridnestrovie does not restrict the right of citizens to apply to several banks at once for loans.

The methodology for determining the indicator of the debt burden per borrower, the parameters and allowable ratios of the loan funds taken and the borrower's income will be established by the regulation of the Pridnestrovian Republican Bank. Amendments to the laws “On the Central Bank of the Pridnestrovian Moldavian Republic” and “On Banks and Banking Activity” will come into force on January 1, 2024.