As stated by the head of the Central Bank, the Bank rehabilitation of the forced conversion of creditors of the third turn in subordinated debt or share capital of the Bank, also known as bail-in, is an alternative to license revocation. “Now discusses the participation of creditors in the financial rehabilitation. In my opinion, this topic requires very detailed discussion, with no hassle, this is a significant change in policy”, — said Nabiullina.
The head of the regulator also said that the Central Bank there were several cases where creditors of troubled banks have preferred the opportunity to participate in the recovery of the revocation of the license. “In fact, bail-in is a higher degree of protection of creditors and depositors. But all this should be discussed with the banking community and very neat approach to this issue”, — said Nabiullina.
However, Nabiullina questioned the participation of individuals in the mechanism of bail-in. “The question is, do I have to participate individuals — that is the question”, — transfers its words Prime. “We, as the Central Bank, we see the possibility of such a procedure, if it will give additional protection to depositors and creditors… of Course, you need to avoid the confidence of depositors small-and medium-sized banks suffered”, — quotes words of the head of the Central Bank Agency.
Earlier of the “haircut” of large deposits in the rehabilitated banks said the Chairman of the Central Bank Mikhail Sukhov. According to him, if the mechanism of bail-in was introduced three years ago, the cost of Bank rehabilitation would be reduced by 20-25%. Sukhov also cited some figures: total hole in the balance sheets of the rehabilitated banks now amounts to 500 billion rubles, the funds of major creditors in these, 130 billion rubles In its opinion, the distribution of the mechanism of bail-in for private investors with a Deposit of 100 million rubles. would not give substantial savings. “215 banks with revoked license, the amount of funds creditors with deposits of over 100 million rubles to 180 billion rubles, with a hole of 1.2 trillion rubles”, — said the Chairman of the Central Bank.
Mikhail Sukhov also said that big depositors will be given the right of choice of instrument equity shares or subordinated loans.
The initiator of the idea of using depositors ‘ funds to support troubled banks is the Ministry of Finance. In late January, Deputy Finance Minister Alexei Moiseyev said that large deposits — ranging in size from 100 million rbl. — private persons may be forcibly converted to financial recovery in the capital of the troubled Russian banks within the framework of the new mechanism bail-in. He explained that while this idea is discussed in the framework of the internal discussions in the Ministry of Finance. “There is no accurate understanding, which limit the amount of the contribution referred to, whether it’s a billion or 100 million rubles”, — he told .
Currently, the mechanism of bail-in is not provided by the Russian legislation, but the debate about how to close the “hole” problem banks is c 2015. Particularly relevant topic amid rising costs, the DIA rehabilitating troubled banks and payments to depositors of banks with revoked license. In December the Agency appealed to the Central Bank with the request to allocate 140 billion rubles to Finance the payment of refunds on deposits. In 2015 the Central Bank has revoked the licences of over 60 credit institutions. Only in Russia whose license the regulator has revoked in January 2016, the size of the “hole”, according to the Central Bank, exceeded 187 billion rubles.
The mechanism of bail-in will help investors and holders of large sums to keep their funds in excess of the insurance amount of 1.4 million rubles. Now in the case of rehabilitation, the depositor is guaranteed to receive only the insured 1.4 million rubles, and the remainder is in question. According to the Agency for Deposit insurance and 1.7% of creditors of banks, which the Central Bank revoked the license in 2015, not fully covered by insurance. The number of depositors of these banks amounted to $ 1.7 million, and 103 of them the amount of claims was higher than 100 million rubles.