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ИД «Финансы и кредит»






Financial Analytics: Science and Experience

Lending limit in modern Russia

Vol. 17, Iss. 1, MARCH 2024

Received: 25 September 2023

Received in revised form: 10 October 2023

Accepted: 2 November 2023

Available online: 29 February 2024


JEL Classification: Е42, Е43, Е50, Е59

Pages: 109–124


Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation


Subject. The article investigates the limit of lending in modern Russia.
Objectives. The purpose is to identify the limit of lending in modern Russia.
Methods. The study is based on systems approach, using the method of statistical analysis.
Results. The study unveils a significant growth and scope of the dynamics of loans with floating (variable) interest rate. The dynamics of the monetary base (M2) and the broad money supply shows a mirror maximum range of growth rates of the broad money supply and M2. The paper establishes an exponential trend of weighted average interest rates on loans in rubles to individuals and a polynomial trend on loans to non?financial organizations. The increase in the credit burden on households is associated with an increase in weighted average interest rates on loans, caused by the need to increase internal borrowings, which is only possible by increasing the average coupon on federal loan bonds.
Conclusions. The revealed lending limit in modern Russia, associated with the ability of the non-financial sector and households to cover the debt in the context of increasing the money supply and domestic borrowings, indicates the possibilities for the development of the Russian economy.

Keywords: money supply, lending, federal loan bond, interest rate


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ISSN 2311-8768 (Online)
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Vol. 17, Iss. 1
March 2024