The most debt. One of the symbols of American industry, the switzerland telegram data automobile concern General Motors, had accumulated debts of almost 200 billion dollars. This is a colossal sum, it was larger than the economies of entire countries. Because of the crisis, people stopped buying not only houses, but also cars. As a result, in the summer of 2009, the company went bankrupt.
Russia, the second largest airline, Transaero
was unable to survive the 2014-2015 crisis; it was also heavily indebted. Passengers who bought tickets had to be transported by other air carriers, and many flights were cancelled. As a result, someone was late for an important event, and someone’s vacation was ruined. All of these are striking and resonant examples of underestimating risks; there are many such cases in history. Our job is to prevent overheating in lending (when its growth significantly deviates from GDP growth) and price bubbles in both mortgages and other market segments. Ignoring risks is like walking on thin ice; one careless step is enough to result in a sad outcome.
prescribing bitter “medicines” to the market?
— You could say that. Ten years ago, we began actively improving lending. In the language of financiers, such “treatment” is called macroprudential policy, and it includes a whole range of “medicines” and “preventive procedures”. And the main indicator of the borrower’s financial coding and software development health, to which we respond, is precisely the debt burden, the mandatory calculation of which we introduced for banks and microfinance organizations (MFOs) in 2019. The debt burden ratio (DBR) is the portion of income that a person alb directory spends on servicing their debts.
