While some borrowers will clearly struggle with this, our expectation is that most will be able to handle the adjustment so that the overall effect on the economy should be small.8 This switch away from interest-only loans should see a shift towards a higher share of scheduled principal repayments relative to unscheduled repayments for a time.
While such accumulation of non-anonymized data substantially enlarges the potential of data usage, the relevant entities are required to pay extremely careful attention to data protection and privacy. If people were to worry about the practices of managing big data and feel uneasy about their own privacy, it would become difficult to make big data contribute to economic development and welfare.