This measure is directed against banks that wish by giving expensive gifts to attract depositors to avoid restrictions on the full value of the contribution, said the head of analytical Department of Bank of corporate financing Maxim Osadchy.
Moscow, 25 Jan. The Bank of Russia from 1 may 2016, will require banks that give its depositors guaranteed gifts worth more than $ 4 thousand, include the value of the gift in the calculation of the full cost of the contribution, to the draft guidance, published on the website of the regulator.
“As other material benefit takes into account the value of the prize when the lottery win, the amount for the minimum possible price”, — stated in the instruction.
While the Central Bank allows to be included in the calculation of the gift or other material benefit of a value not exceeding 4 thousand rubles or equivalent in foreign currency, if at the date of conclusion, amendment or renewal of the agreement the investor has with the credit institution other operating contracts of Bank Deposit (account).
“In a cash flow arising from the Deposit contract and accounted for in calculating the full value of the contribution, it is necessary to take into account the costs of the Bank related to the value of the gift. The more expensive the gift, the greater the full value of the Deposit”, commented the head of analytical Department of Bank of corporate financing Maxim Osadchy.
This measure, in particular, directed against banks that wish by giving expensive gifts (like Apple products) to attract depositors, but to avoid restrictions on the full value of the contribution, said Osadchiy.
Under current rules, banks whose Deposit rates exceed the baseline yield by more than 2 percentage points, are required to send in the Deposit insurance Fund an additional 20% from the base rate of insurance (0,1%). If rates are inflated by more than 3 percentage points, the credit institution deducts 150% of the base rate.