The regulator has decided to lift the limit on the total cost of credit (TCC) for credit cards.
The measure comes into force on January 1, 2025 and will be in force until at least March 31 of the same year.
The decision was made against the backdrop of rising market rates, TASS reports.
This measure also applies to debit cards with overdraft.
The Central Bank emphasized that the decision will be in effect for the first quarter.
The decision on the PSC was made against the backdrop of an underestimation of the average market value of this indicator for the third quarter of this year.
We are talking about violations on the part of some large commercial banks.
The Central Bank has already sent orders to financial and credit institutions on the need to promptly eliminate violations and switch to a correct method for calculating the APR.
As practice shows, Russians increasingly do not use the funds that are available to them in credit accounts.
In September, the amount was 75 billion rubles, and in annual terms it is estimated at one trillion rubles.
About 30% of cards issued by banks are not activated by clients within 3 months.
