We are currently discussing introducing a new standard, which will differ from the current concentration standards (N6, N21) in that a banking group’s assets will be included in the calculation of N30 without risk weighting and will be correlated with the core capital rather than total capital. This, in our opinion, will make it possible to more accurately assess these risks and take into account risk transfer channels and the spread of risks across the group that forms banking groups. We have prepared a draft regulation and plan to discuss it with the banking community. In any case, the introduction of the standard will not take place earlier than 2022. There are, indeed, many topics that need to be discussed, and we are ready to discuss them. As you can see, I have already listed several of the consultation papers that we are publishing. And we will adhere to the practice that was and is in place and think is useful. All innovations that affect banks, will be discussed conceptually as advisory reports, then we will give everyone time to discuss the draft regulations themselves, and then give everyone time to implement these regulatory acts. At the request of the banking community, we have introduced the practice of a release approach. As you know, we are trying to package all changes to regulation in such a way that they come into force twice a year: on 1 April and 1 October.
In this regard, of course, this lending was also facilitated by special preferential programs issued by the government. The government adopted large-scale programs to support small- and medium-sized businesses, and we introduced our own mechanism: a special mechanism for preferential loans, which was in high demand. And we can see that banks, within the framework of such special instruments, issued about 18% of all loans to small- and medium-sized businesses. But the remaining increase in loans to small- and medium-sized businesses was carried out under normal market conditions, which is also a good factor. Moreover, in the first quarter of this year, we can see that the portfolio of loans to small- and medium-sized businesses 1/5  BIS central bankers' speeches  has also continued to grow adding another 5%. Mortgages grew at a high rate — as in the segment of small- and medium-sized businesses, there was and still is incentive offered by preferential programs. The mortgage portfolio also grew significantly, by more than 20%. Moreover, it already reached almost half of the total retail portfolio, and in the first quarter, it also continued to grow, also by 5%. As you can see, the figures are quite similar for both mortgages and small- and medium-sized businesses. That is to say that there are positive trends in both. However, when it comes to mortgages (we have talked about this repeatedly), we are worried about the accompanying rise in housing prices in the primary market.