Increased contributions to the Deposit insurance Fund will affect the yield on Bank deposits, said Zadornov. “We will not be able to keep Deposit rates at the level at which we kept, because of the growth of contributions to the Fund (the Deposit insurance Fund the Deposit insurance Agency — ). This year rates will decline in any case, but the decline will be more” — said Zadornov.
According to the banker, and current terms of payment of deposits to customers of bankrupt banks lead to irresponsible behavior of depositors.
“We consider it [innovation] without enthusiasm. We said we don’t need to fully compensate depositors of banks with revoked license and deposits and interest thereon, because it breeds absolute irresponsibility,” said Zadornov.
In mid-April, the Board of DIA Directors decided to establish the rate of insurance premiums that banks participating in the Deposit insurance system, and paid into the insurance Fund. The new rate of 0.12% will be effective from the third quarter of 2016. Since 2008 the rate of insurance contributions to the Fund, the Deposit insurance Agency is 0.1%.
“This decision is medium term in nature and due to increase in 2014-2015 financial burden on fosv in connection with the payments of insurance indemnity which necessitated attraction of credits of Bank of Russia”, — noted in the message of the DIA.
“We voted unanimously, found a balanced solution that addresses the need for more formation at the expense of banks the Deposit insurance Fund, and financial capabilities of the banks themselves, we relied on the achieved financial result (first) quarter, there was 107 billion rubles”, — commented on April 20, the ACB decision of the Chairman of the Central Bank Mikhail Sukhov. (quoted by Reuters). He noted that the decision to raise the contributions will expand the sources of replenishment of the Fund and not to destabilize the work of banks.
“The increase in the amount of deductions will result in payments on an annual basis, according to the DIA, about 25 billion, which corresponds with the 500-billion earnings forecast of about 5% of the expected profit for the year… It’s quite capable banks,” said Sukhov.
Against increasing contributions to the Agency made by a number of banks. In particular, the Deputy Chairman of Sberbank Alexander Morozov said that “now the insurance system is corrupt, because it allows depositors to place funds in any Bank, oblivious to the risks”. “Criteria for banks to pay higher contributions, must be more besides the existing ones, for example credit rating, because right now most trusted banks pay for less reliable,” he told the newspaper “Kommersant”.
Zadornov also said that this year, ruble deposits became more than currency, their share has left 52% of the Deposit portfolio. “Across the country the share of foreign currency is decreasing it below 30 per cent,” he said. According to the Bank’s statements under RAS, with the beginning of the year the volume of deposits in VTB24 decreased by 2% to 1.9 trillion rubles According to Zadornov, this is due to the strengthening of the ruble. From 31 March it grew by 7%
In February, the head of VTB24 said that the Bank is not interested in attracting currency. So interest rates on foreign currency deposits is low, Zadornov said.