Micromortgage companies (MMCs) are set to begin operations on October 22, 2025, as part of a government initiative to improve housing affordability across Russian regions. These companies are being established under new legislation that mandates full ownership by the constituent territories of the Russian Federation.
Under the law, each region is permitted to have only one MMC. The Bank of Russia will oversee these companies and keep an official registry. According to the press release, “The Bank of Russia will supervise MMCs and maintain a list of such companies.”
To help these new entities adjust to market conditions, the Bank of Russia has temporarily lifted restrictions on effective interest rates for MMCs until March 31, 2026. This measure is intended to support their initial phase in the financial sector.
