Considering the fact that retail’s share in impaired assets is far lower than the overall bank loans and advances, retail loans have put comparatively less provisioning burden on banks apart from diversifying their income streams. Fifth, decline in interest rates have also contributed to the growth of retail credit by generating the demand for such credit.
As circumstances change, the necessary tools may also change, but the ultimate goal remains the same. I congratulate the Central Bank of the Russian Federation on its anniversary and wish all success in its important tasks, in the service of this country, and as a partner in the international central banking community. BIS Review 87/2010  3