Central Bank: the Deposit insurance Agency will require a loan of at least 100 billion rubles to the Deposit insurance Fund

GENEVA, March 12. The Agency for Deposit insurance (DIA) will soon need another loan of the CBRF in the amount of at least RUB 100 billion to replenish the Deposit insurance Fund, said the Chairman of the Bank of Russia Mikhail Sukhov at the Russian economic and financial forum in Switzerland.

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“Now “clearing” the banking sector has already led to emission the result of 900 billion rubles, it credits the DIA for the purpose of rehabilitation and to the credit of the Deposit insurance Fund. I think this number because you will need to get loans from the Deposit insurance Fund, in the near future will exceed 1 trillion rubles”, – said Sukhov.

As previously reported, the Board of Directors of the DIA in June last year approved the recourse to the Central Bank for loans totaling up to 110 billion rubles. without collateral for up to five years at a reduced rate. In December of last year the Central Bank approved the increase of the limit on the loan to the DIA for another 140 billion rubles for the current year.

The growth of deposits of individuals

According to Sukhova, the rate of growth of household deposits in Russian banks by the end of 2016 can reach 15%.

“The assessment that the contributions can grow on 15% a year in 2016, I believe is quite realistic and possible. Although this may depend not only from banks but also from the real state of the disposable income of our citizens that in the near future are unlikely to increase in a positive direction”, – he noted.

Sukhov said that Russian banks were able in difficult times to maintain the confidence of depositors.

“We saw rapid growth of deposits last year, almost a record, and 25% for the year. In the beginning of the year, in February, Deposit growth in the banking sector has recovered almost 170 billion rubles was attracted by our banks in February and they move at the pace of over 20% on an annualized basis”, – he noted.

However, the Chairman of the Central Bank warned that such rapid growth will not last long and will decrease due to objective indicators, including because of lower real disposable income.