How can you justify the current policy, if today we find ourselves in a situation where the refinancing rate policy does not lead to a decrease in the interest rates on the loans taken by citizens? On October 29, at the session of the National Assembly, during the discussion of the election of a member of the Board of the Central Bank, the head of the parliamentary faction of the opposition "Strong Armenia" bloc asked the candidate for that position, Sevak Mikayelyan. Mr. Narek Karapetyan. According to the deputy, the interest rates of population loans do not decrease. "In any case, they are not even close to the refinancing rate set by the Central Bank," Karapetyan noted. He also wondered what programs the Central Bank can offer to families whose credit burden significantly exceeds their ability to repay the debt, and what opportunities should be provided to these families in order to We will be able to settle the problems related to overdue loans. In response, Sevak Mikayelyan acknowledged that there is progressive growth in the field of consumer lending, at least 20% per year. As a result, the volume of consumer loans has already exceeded 2 trillion drams. The candidate for the member of the board of the Central Bank also mentioned that the only tool of the Central Bank in this direction is the application of the anti-cyclical capital limit. This year, its rate has already been increased, and for the second time, and from July next year it will be 2.25%. The countercyclical capital limit (CCR) is a special addition to the banks' capital adequacy norms, which central banks require to be formed during periods of rapid credit growth and to be reduced (released) during crises. Mikayelyan explained that the Central Bank resorted to this main tool after it recorded a significant increase in the ratio of GDP to lending volume. He also explained that the increase in the volume of loans is due to the increase in demand from the population. Referring to the high interest rates, Mikayelyan noticed that in the conditions of progressive growth of demand for this or that product, it is quite difficult to avoid its price increase. He also announced that he will act proactively if elected. In particular, he intends to work towards the introduction of the institution of the responsible lender and to use the Central Bank's sub-legislative tools to curb the increase in interest rates.