The central bank, however, will still give its approval for the norms regarding the classification of loans and the evaluation of clients’ loan performance.
Instead, non-banking financial institutions (NBFIs) included in the central bank’s general register are obliged to draft their own lending rules, in accordance with the central bank’s regulations regarding household and corporate lending. So far, only NBFIs included in the special register have applied this rule.
The central bank’s new lending regulations, which took effect on December 18, provide for a new exception regarding consumer loans, which were restricted in the fall of 2011.
As of October 2011, the central bank has regulated strictly consumer loans, which were limited to a five-year period at the most.