Photo: Love Mishina for RBC
Authorities are determined to continue the clearing of the banking market. DIA dramatically increased the contributions to the Fund for the banks, overestimating the rate of return on deposits. Also for replenishment of the Fund, it turned to the Central Bank for a new loan of 220 billion rubles.
Banks that offer citizens the deposits with a high profitability will increase the level of contributions to the Deposit insurance Fund (DIF). As follows from messages of the DIA, the Agency Board of Directors Thursday, October 6, decided to increase for these banks increased supplementary rate to the maximum possible level of 500% of the base.
“The Board of Directors ASV has decided to increase the higher additional rate of insurance contributions payable by banks — participants of system of insurance of contributions to the Fund of obligatory insurance of contributions (further — fosw). Since the first quarter of 2017, this rate is set at 400% of the base rate, as from the second quarter of 2017 increased additional rate of insurance contributions will be 500% of base rates”, — stated in the message of ASV.
The solution for those credit institutions that offer deposits with interest rates at 3 percentage points above the base rate, calculated by the Central Bank (in October 2016, it was 10,19% per annum for deposits for a term longer than one year). Now for these banks set an additional rate of 300% of the base.
First, banks have to pay a higher additional amount to the Fund from the second half of 2015. In 2016, it twice increased in April from 150 to 200%, and October — up to 300%. After only three months, it has announced another sharp increase up to 500%. “That is, those credit organizations, which offer deposits with interest rates at 3 percentage points above the base rate of the Central Bank, will be paid to the Fund of 0.36% and 0.48% and 0,6%, respectively, of the volume of deposits for the quarter, indicates the analyst of PSB Dmitry Monastyrshin.
The rate change was expected for market participants, as previously, for the increase in deductions for the most aggressive of the banks was made by the Bank of Russia and Ministry of Finance. In particular, in September at the banking forum in Sochi Chairman of the Central Bank Mikhail Sukhov noted that these banks carry a higher risk for the system, and therefore should bear a greater burden for financing the insurance Fund. He said that an increased rate to Fund the DIA in the second quarter paid 117 banks. Deputy Finance Minister Alexey Moiseev said in September that “banks a little, but their policy is damaging to the market.”
The increase in contribution rates, additional contributions of up to 500% very painful for small regional banks, the Chairman of the Board of ROSBANK Dmitry Olyunin. He explains that many regional actors working in the high-margin segments of the business, so they can afford to attract expensive funding. “In fact, interest rates on deposits was the only way they can compete with the big players,” — said the banker.
Despite the measures that the DIA takes to replenish the insurance Fund, raising the rate of contributions to the Fund is very likely, says the Chairman of SDM Bank Maxim Solntsev. “The big players are offered a differentiated approach depending on the yield offered to investors by banks. But I’m afraid the growth in the number of revoked licenses, the number of supporters of the rate hike will grow,” says Solntsev.
“Increasing rates of deductions — bad news for banks. However, an abnormal situation when the Central Bank their loans financed the cleaning of the banking sector”, — said the chief economist of Alfa Bank Natalia Orlova.
A new loan from the Bank
In a release from the Agency following the meeting of the Board of Directors, published on Friday, nothing was said about the credit of the Central Bank. However, later the Agency reported that the meeting approved the appeal to the Bank of Russia with a request to increase to 220 billion rubles the amount of the loan to ensure the financial sustainability of the Deposit insurance system. Thus, this limit is expected to grow to 820 billion rubles from the current 600 billion rubles.
The Agency has sought the help of the regulator, because other significant sources of liquidity at ACB no, says the Chairman of the Board of Directors of MDM Bank Oleg Vyugin. “Increased contributions to the insurance Fund is insufficient to continue the cleaning process of the banking market”, — he said. “Given the fact that the speed of withdrawal of licenses from banks has not reduced, ASV will still have to resort to the support of the Central Bank”, — said the head of the group Finance ACRES Kirill Lukashuk.
“The pace of liquidations unscrupulous banks is not reduced, reorganization continues, the Fund is exhausted and to increase the limit on loan ASV, the Central Bank simply is not possible for the performance of ASV commitments” — explains the analyst of Raiffeisenbank Denis Poryvai. However, he notes that the state’s chances to receive money from the sale of assets, who are in bankruptcy, in most cases, extremely low.
The decision to increase the credit limit of the Central Bank for the DIA shows that the regulator is determined to continue the process of cleansing of the banking market, the Chairman of the Board of SDM Bank Maxim Solntsev. In this sense, according to him, the strategy of the Central Bank did not change after personnel changes in the leadership.
According to ASV at the beginning of October, since the establishment of the Agency of 2.67 million depositors received insurance indemnity in the amount of 1.12 trillion rubles.
The original size of credit lines obtained by the Agency from the Central Bank amounted to 110 billion rubles., but then was increased to 250 billion rubles this Spring, his bar has been raised to 420 billion rubles, and in summer it was extended for another 180 billion rubles to 600 billion roubles.
Only since September, the Central Bank revoked the license of the Ulyanovsk Regional commercial Bank (397-th place by assets in the ranking prepared by “Interfax CEA”), the Petersburg Bank “Tetrapolis” (500-e) and Vyborg-Bank (342 ranked) and Metropolitan Bank (61-th place by assets), Finprombank (105th place), Military-industrial Bank (98th place) and Imagebank (144th place).