Types of deposit policy of a commercial bank. Theoretical aspects of the Bank's Deposit Organization. General characteristics of the Bank Russian Standard CJSC
Federal Agency for Education
Federal State educational institution
Higher professional education
" Volgograd Academy of Public Service "
Faculty of Economics
Department of Economics and Finance
Course work
by discipline
Economy organization
Deposit Policy of Commercial Banks
Performed student Group F-201
Dubenko Ekaterina Dmitrievna
scientific adviser
Doctor of Economic Sciences, Professor
Ivanova Tatiana Borisovna
Volgograd
Introduction
Chapter 1. Fundamentals of the formation of a commercial bank deposit policy
1.1 Essence and role of the Deposit Policy of the Commercial Bank
1.2 Development of the Commercial Bank Deposit Policy and the factors defining
1.3 Types of Deposits of Commercial Banks
Chapter 2. Deposit policy of Russian commercial banks and its improvement in modern conditions
2.1 Deposit policy of Russian commercial banks in modern conditions
2.2 Deposit insurance as one of the ways to improve deposit policy
Conclusion
List of used literature
Introduction
For the modern banking system of the Russian Federation, the transition to a qualitatively new stage of development, due to increasing competition of credit institutions and the need to preserve or strengthen market positions, which affects everything without exception of the scope of banks. In recent years, banking specialists have noted the increasing influence of the deposit policy of commercial banks on the development of their activities.
The purpose of this work is to study the deposit policy of commercial banks and the directions of its change in Russia.
To implement the set goal, the following tasks were solved:
- explore the essence and role of the deposit policy of the commercial bank;
- show the procedure for developing a deposit policy of a commercial bank and determining its factors;
- consider the types of deposits of a commercial bank;
- to analyze the deposit policy of Russian commercial banks in modern conditions;
- Consider insurance of deposits as one of the ways to improve deposit policy
Object of study - deposit Policy of Commercial Banks.
Subject of study - economic and organizational relations, developing in the process of formation, implementation and assessment of the Deposit Policy of the Commercial Bank.
The study is based on the use of statistical and analytical samples, as well as on the use of the grouping, value and comparative analysis method for the dynamic state of the indicators under study.
deposit Policy Commercial Bank
The essence of the course is in a comprehensive study of the deposit policy of a commercial bank, the goals and objectives of its development and implementation, in the development of practical approaches to the assessment of deposit policies. The most essential elements are as follows:
1) clarified the content of the concepts of "deposit", "Deposit Policy of the Commercial Bank"; justified the need to consider the deposit, taking into account the needs of investors, legal norms governing the relations of the Bank and the Depositor, the characteristics of funds on deposit accounts;
2) proposed a procedure for the formation of a commercial bank deposit policy, including: the formulation of the goals and objectives of the deposit policy of the commercial bank.
The practical significance of the work is to use the results of the study in the activities of a commercial bank in order to develop the fundamentals of the formation, implementation and evaluation of the deposit policy of a commercial bank. The main ideas of the study, its conclusions and recommendations are formulated taking into account the possibility of their practical implementation.
Course work consists of introduction, two chapters, conclusion, a list of used literature.
Chapter 1. Fundamentals of the formation of a commercial bank deposit policy
1.1 Essence and role of the Deposit Policy of the Commercial Bank
Successful development and effective functioning of a commercial bank cannot be ensured without taking into account the peculiarity of the activities of the credit organization itself and its customers.
Deposit is the cash transferred by legal entities and individuals in national or foreign currency to the Bank for temporary use, while maintaining the right of depositors to order them in accordance with the account regime and banking legislation on which the Bank assumes the obligations to return and pay the contract provided for by the Agreement percent.
There were three approaches to the definition of the concept of "deposit policy of a commercial bank" in modern economic literature.
The first approach involves consideration of a deposit policy as an integral part of the liability management system (attracted means). This point of view suggests the consideration of the deposit policy in the system of measures to manage the liabilities and liquidity of the bank, the purpose of which is to minimize the risk on the formation of a deposit portfolio (diversification of deposits), interest risk and liquidity risk. Consideration of the deposit policy, as one of the components of liability management, is not devoid of grounds, since, in a broad sense, the management of passive operations is activities related to the involvement of depositors and other creditors and the definition of the appropriate combination of sources of funds for this bank. In a narrower sense, under the control of passive operations, actions aimed at satisfying liquidity needs by actively finding borrowed funds as needed.
The essence of the second approach consides to the deposit policy as an integral part of the Bank's credit policy. . In accordance with this approach, the essence of credit policies is disclosed as a strategy and tactics of the Bank to attract resources on a return basis and their investment in terms of lending to the Bank's customers. Deposit operations are the basis for the formation of banking resources that are used by the Bank during active operations, and this is not only lending, but also investment into securities, participation in the capital of various enterprises and organizations, etc. Therefore, the linkage of deposit policy exclusively with credit policy of the bank seems to be one-sided .
The third approach suggests that the Commercial Bank's Deposit Policy is a policy to attract depositors to deposits and effective management of the involvement process. The bank's deposit policy is the main document governing in commercial banks the process of attracting temporary free cash, enterprises, organizations and the population in various kinds of deposits. Deposit policy should be based on documents that determine the main directions and conditions for the placement of raised funds, such as "credit policy", "Investment Policy".
This point of view seems the most accurate, since it considers deposit policies in conjunction with banking policy as a whole.
By summing up in three above approaches, it can be said that the Bank's strategy to attract funds should relate to the Bank's policies for active operations, primarily credit and investment. In addition, the Deposit Policy implies the development of regulations on the organization of deposit operations, the formulation of tasks in the field of currency of legal and individuals, the principles of deposit operations, a combination of methods for attracting and placement of funds, achieving an effective combination of resources. That is, the Commercial Bank's Deposit Policy is a set of principles, methods and methods of implementation, consistently related actions to attract funds in deposits (deposits) on the terms of refundance and effective management of them in order to ensure the functioning and development of the Bank.
During the deposit policy, the principles of organization of deposit operations and their relationship with the total monetary turnover, the ratio of economic and organizational methods in the management of deposit operations, the forms of deposit accounts and the scope of their application, the procedure for opening and closing deposit accounts, the rules for enrollment and exclusion of customer cash, The procedure and conditions for transferring funds from some deposit accounts to other, limit deadlines for the storage of funds on deposit accounts.
Only the commercial bank, which is constantly expanding the range of services that are provided to clients, reduces the cost of services, improves the quality of credit and cash services, provides different benefits when servicing customers, offers some kind of consultations, and the like. Such comprehensive service plays a significant role in establishing the relationship between the levels of interest rates on credit and deposit operations of the Bank. Of particular importance is the level of deposit interest, that is, the percentage paid by the Commercial Bank's customers on attracted contributions (deposits), since the basis of the deposit activity of commercial banks is the operations to attract cash.
Thus, the essence of the deposit policy is that it allows banks to rationally organize and regulate customer relationships, manage the process of attracting funds to deposit accounts. When developing deposit policies, the Bank must take into account the interests of various groups of customers: legal entities and individuals. Developing deposit operations Commercial Bank should focus on customer needs in banking services, while not forgetting about their own interests.
1.2 Development of the Commercial Bank Deposit Policy and the factors defining
The deposit policy of the commercial bank, being an integral element of banking policy as a whole, should not be considered separately, but taking into account the influence of the interdependence of all elements of banking policies.
The fundamental point in the development of bank policy is the exact setting of the goal and the choice of the relevant elements for its implementation. Each bank should clearly represent what its strategic goals are. The main purpose of the credit organization is called the mission. The objectives of the Bank's activities are developed to implement this mission and serve as criteria for the entire subsequent process of making management decisions.
The common goal of the Bank as a commercial organization should determine the priorities of its policies from the position of profitability, profitability, liquidity, minimizing risks, optimizing the portfolio (deposit, credit, investment, etc.), areas of its activities and as a social institution from the standpoint of the interests of shareholders, customers, Bank staff and banking supervisory staff.
First of all, it is necessary to conduct a situational analysis to determine and develop a strategy, which will obtain a complete representation, on the one hand, on the state of the environment, in which the Bank (external analysis) is functioning, and on the other hand, give the characteristics of its internal potential (internal analysis ).
When conducting an external analysis, quantitative and qualitative factors are allocated, characterizing the state of the country's economy and a separate region affecting the banking system, the degree of their impact on the bank's work indicators in retrospective is determined and the forecast of their changes in the future is also drawn up, and the factors that can significantly detect Influence the results of the Bank's activities. External analysis includes competition analysis, i.e. The identification of market development trends, where the bank is valid, determining its position in this market compared to competitors.
Internal analysis affects, first of all, issues of analyzing the market conquest quantitatively (the existing client base, the dynamics of its change and the volume of services provided) and qualitatively (quality of services and products offered by the Bank and their compliance with customer demand); financial state of the bank (balance and efficiency of operations carried out); The adequacy of the organizational structure of the Bank with the tasks and adequacy of the qualification level of banking personnel.
The main factors affecting the deposit policy of commercial banks are:
The level of confidence in the banking system. Banks and other financial institutions should be reliable, enjoy the confidence of the population, and their services are diverse and accessible. An important factor is also the level of service offered by banks with individual depositors, a wide range of relevant services, the development of the network of branches of financial institutions, the availability of consultations.
The overall political and economic situation in the country should be stable, and the legal framework to guarantee property rights and promotion of investments. The state needs to ensure the adoption and unconditional implementation of laws supporting the yield of population savings.
The attractiveness of conditions for deposits. At the moment, in connection with the introduction of restrictions on the level of maximum interest rates by the Bank of Russia, commercial banks have to resort to other ways to increase the attractiveness of deposits. First of all, it is "advertising" of certain deposit conditions - the capitalization of interest, the indication of an effective interest rate reflecting the actual profitability of the contribution, the ability to perform expenditure operations, the accrual of interest "advance", immediately after placing funds in the contribution, as well as additional banking products and Services with special conditions intended exclusively for investors (credit and debit cards for preferential tariffs). And, of course, to attract depositors banks actively carry out shares with risks of valuable prizes or issuing a guaranteed gift.
- The refinancing rate of the Central Bank of the Russian Federation. The upper limit of bank deposit rates for the population is limited by the refinancing rate of the Central Bank of the Russian Federation, since it increases its excessive degree of tax pressure on the income of depositors - individuals.
The desire of citizens is more saved due to the uncertainty of future income, the so-called motive "for a black day". Revenues of citizens should be large enough to ensure an acceptable level of personal current consumption and the creation of savings that serve as a guarantee of stability and raising the standard of living. The population should have a tendency to the savings due to confidence in the reliability of financial institutions, political and social stability.
1.3 Types of Deposits of Commercial Banks
For a better understanding of deposits and deposit policies, consider the types of deposits. Over time, scientists and economists, due to the change in the structure of the economy and various indicators, are talking about new types of deposits. However, in fact, they are either the more disclosed concept of one species of deposits, or on the contrary, the union of several types of deposits.
The classification below is the most common.
A. Classification of deposits for the term of action:
By duration, deposits are divided into "short" and "long", the term of the first, as a rule, does not exceed 6 months, while the term "long" can be several years. It is worth noting that usually, the more deposit period, the greater the interest rate on it. It is also important that at the end of the term of the deposit, if the contributor did not withdraw the bulk of the deposit with interest - the contribution is automatically prolonged under the same conditions, unless otherwise indicated in the banking contract.
B. Classification of deposits for the possibility of flooding:
Replenished and unimpided deposits:
If possible, deposits are divided into replenished and unpopulated, and if everything is clear, i.e. Contribution In any case, it is impossible to replenish, then the deposits contain a number of nuances:
) There may be a limit on the amount of replenishment;
) There may be a limit on the number of replenishments for the accounting period (for example, no more than once per month).
B. Classification of deposits for the possibility of removal of funds:
If possible, deposits are subdivided into demand deposits, urgent deposits and deposits with a minimal inconsistent residue. They all have their own advantages and disadvantages.
The demand deposit is the type of deposits with the lowest percentage, in fact it is simply the transfer of money to the bank for storage, but at the same time you do not have to pay money for renting a bank cell and even the opportunity to receive a minor percentage from bank for using its money. The main advantage of this type of deposit is the possibility at any time to remove the required amount from the deposit account, without any restrictions.
Demand deposits are classified depending on the nature and accessories of funds stored in accounts:
Funds on settlement, current, budget accounts of enterprises and organizations of different forms of ownership;
Funds in special accounts for the storage of various funds in its target economic purpose (own funds of enterprises intended for capital investments);
Funds of enterprises and organizations in settlements (funds for correspondent accounts on settlements with other banks; funds of local budgets).
The urgent deposit is the most favorable deposit for depositors in which the bank usually gives a deposit to the maximum percentage, but the depositor does not have the opportunity to remove funds without loss of accumulated interest (as a rule, in case of early termination of the agreement, the depositor has interest at the rate at the rate deposits "to demand", which is significantly lower than the interest rate on urgent deposits).
The deposit with a minimal inconsistent residue is a combined form, which is something average between an urgent deposit and demand deposit, as a rule, when opening such a deposit account, the depositor contributes a certain amount that it does not have the right to remove until the end of the deposit period (otherwise it loses its interest The rate and interest on the deposit number at the rate of deposits "to demand"), however, all the money over this minimum amount is available for removal without any penalties from the Bank and the interest rate for the deposit contribution (as a rule, with Monthly capitalization of interest).
Capitalization of interest on the deposit:
The capitalization of interest is the accrual of interest on the deposit amount. As a rule, for most contributions, capitalization is carried out monthly, but there are cases when the capitalization of interest occurs more often (the minimum period of capitalization is 1 calendar day, but this option to banks are not beneficial and they usually do not go to it) or less often (as a rule, this is a complete term The deposit actions, for the depositor, this means a complete percentage loss in case of early deregulation, unless otherwise specified in the Agreement with the Bank).
This type of deposit allows the depositor to make additional contributions and return the deposit part to the established value of the minimum deposit balance. Interest are charged on the rate recorded in the contract, based on the term of the actual finding of funds in the contribution and the amount of the deposit, taking into account additional contributions and return of the contribution. The payment of all interest accrued on the contribution is carried out on the last day of the deposit period simultaneously with the return of the deposit amount.
Chapter 2. Deposit policy of Russian commercial banks and its improvement in modern conditions
2.1 Deposit policy of Russian commercial banks in modern conditions
Over the past few years, the bank deposits market had to experience quite strong changes that caused a number of changes. First of all, it should be noted the economic crisis that began in 2008.
As a result of the All-Russian survey of the population and the survey of high-yield groups in the cities million of the method of personal formalized interview, more than 2.5 thousand respondents were interviewed. This survey covered an adult population over 18 years old. The growth dynamics and the structure of bank deposits were analyzed, as well as the criteria for the choice of the bank and the level of confidence in various groups of the population to credit organizations.
After almost four years of stable growth in the bank deposit market, the autumn "panic of depositors" 2008 was releasing the trend: the growth rates of contributions were reduced by almost twice. The results of the crisis 2009, on the contrary, turned out to be more than successful: the volume of funds in the accounts of banks increased by 26.7% and amounted to 7.484 trillion rubles, on May 1, 2010 it exceeded 8 trillion mark. .
What contributed to this? It is no secret that during the crisis, many banks faced a lack of liquid funds, and since one of the main sources of liquidity replenishment are monetary funds of individuals, banks included in the active struggle for the population.
And, as a result, at the end of 2008 - early 2009, all banks began to actively improve the conditions on deposits, for example, interest rates increased significantly, which in individual banks reached 20%. Also, the depositors were proposed a more flexible alternative to the classical cash deployment: many banks have deposits for short and very short time (from 15 to 30 days), multicurrency deposits, which in the conditions of currency volatility allowed depositors without terminating the contract and the percent loss to translate money from One currency to another. Banks began to offer more loyal conditions in the early termination of deposits, in which the rate was calculated on the basis of the real number of days of cash in the deposit. As one of the ways to attract customers during this period, many banks used various bonuses and gifts. For the current investors, loyalty programs were launched, allowing to prolong deposits on more favorable terms.
An equally important role in the prevention of cash outflows also played the actions of the regulator. Increase the guaranteed amount of payment, a clear system of payments to depositors of problem banks
And the fact that about 50% of funds paid through the Deposit Insurance System to clients of problem banks remained in the form of deposits in banks-agent banks, talking about the confidence of the population to the Deposit Insurance System.
Thus, the general efforts of market participants and a regulator of cash outflow from the banking sector was stopped.
As for the preferences of depositors, it continues to lead and even began to meet somewhat more often the motive of savings "for a black day": 23% in 2008 and 27% in 2010. The second prevalence of the goal, which, according to Russians, is worth Saving money for it is the repair of an apartment or at home (about a quarter of respondents in June 2010 were ready to postpone the money on it).
Fig.1 Distribution of answers to the question "Do you have accumulation, savings?" .
In the consciousness of the population, in opposition to economic theory, there is a direct connection between the profitability and reliability of investments: the most beneficial to the tools that are also most reliable.
Despite the crisis and decline in real estate prices, in June 2010, most Russians continued to buy housing in the most reliable and advantageous way of storing savings. Further with a large margin, but at about one level there are accounts in state banks and the purchase of gold and jewels. Closes the four leaders storage of funds in the form of cash rubles. In comparing various tools in relation to the ratio / reliability in October 2008, deposits in state banks and cash rubles looked somewhat less attractive: they had to pay less profitable for their reliability relative to other tools.
Traditionally the most common cause of refusal of bank deposit, according to the All-Russian survey, is the lack of money - almost 70%. As the reasons that are repelled by people from the idea of \u200b\u200binvesting in the bank, the following were named: "Do not protect savings from inflation" (11%), "banks are not reliable enough" (9%), "bank deposits are not sufficiently high yield" (8 %). At the same time, 46% of Russians, as in October 2008, are considering a bank deposit as the most reliable way to invest cash.
For high-yield groups, the main reasons for refusal of deposit are related to the lack of protection against inflation and the lack of reliability of the bank (Figure 2). However, among those representatives of high-yielding layers, who do not enjoy contributions, one can note the positive dynamics regarding the assessment of the reliability of banks and the protection of funds from inflation.
Fig.2. Distribution of answers to the question "Why do not you use bank urgent deposits for storing savings?", (High-yielding segments of the population, 2008/2010).
One of the most interesting research issues - criteria that are guided by customers when choosing a bank. The most important criterion affecting the choice of the bank is its state character - this criterion has chosen 52% of Russians who have a bank deposit. Moreover, this criterion has absolute leadership both in 2008 and now. The following criterion is the value of the interest rate. The proportion of those who took into account exactly this parameter when choosing a bank increased from 23% in 2008 to 34% in 2010. The third place occupies the ease of disposal of the means - 28% chose this option.
Representatives of highly profitable groups priorities regarding the criteria for the choice of bank other. The most important for them is the amount of interest rate, reputation and fame of the bank. Much less attention to secured people pay attention to the "statehood" of the bank. The reliability of the bank is determined by its reputation.
Thus, the main criteria for the choice of the bank are its reliability, which, first of all, is associated with the state nature of the bank, profitability and efficiency, as well as convenience at the disposal of means. In general, some shifts in understanding by the population of the banking system are observed - this is evidenced by an increase in the attention to the deposit insurance system and a decrease - to the fame of the bank.
2.2 Deposit insurance as one of the ways to improve deposit policy
For the effective work of the Bank, it is necessary, firstly, continuously studying and predicting the state of the banking services market and, secondly, comprehensive banking planning and operational management of bank financial resources.
In the pre-crisis period, the population preferred to spend, including on credit, during the crisis, the population has become more accumulating and saved, which led to the increase in savings. According to the National Agency for Financial Research (hereinafter referred to as Nafi), the increase in savings in 2009 amounted to 16.8% against 2.2% in 2008.
However, the growth of interest rates on bank deposits cannot be eternal, and during the stabilization of the banking system, since the end of 2009, along with a decrease in the Central Bank of the Russian Federation, the refinancing rate is observed a planned decline in interest rates and in commercial banks. In 2010, the trend of reducing rates continued, despite certain cases of increasing the main players of the market rates on deposits. Banks are again beginning to lend, which means that the issue of incredible resources attracted and elongation of their urgency becomes relevant. It is necessary to banks to ensure the possibility of developing and implementing competitive loan products. And therefore it is quite logical that banks began to reduce deposit rates. For many banks raised during the crisis, deposits are already becoming an unbearable burden.
The crisis has not passed without a trace for banks, and for depositors. The latter have become more selective when choosing banks. First of all, the following factors play a significant role in choosing a bank, the interest rate, the possibility of replenishing the contribution and partial deregulation, the possibility of early termination without losing interest, capitalization of interest, various loyalty programs. At the same time, as practice shows, customers are interested in the reliability of the bank, but this is not a decisive factor, since the average depositors, as a rule, place cash within the amount guaranteed by the state.
And the banks themselves, in turn, began to morely approach the attraction of cash, shifting accents not to increase the interest rate, but on the development of additional services and improving the quality of customer service.
As for the deposit market, then, most likely, he will continue to grow. According to Nafi, today, about a quarter of the population of Russia have accumulated savings, while 23% of the population consider bank deposits of the most popular forms of storing funds, which, in turn, should provide banks to banks. And since the contributions of the population remains a significant source of the formation of bank liabilities, this will lead to conservation of competition in this market.
The largest global crises were necessarily affected, and often born in the banking sector. This was characteristic of the period of the Great Depression of 1930-1933, Crisis 1997 - 1998. and crisis 2008-2010. To curb the mass bankruptcy of banks, a tool has been created to reduce the credibility of the banking system, almost all countries of the world involved in banking systems - deposit insurance. Initially, it was aimed at protecting bank institutions from mass outflow of cash. Subsequently, his social significance was also manifested - the protection of banks' customers. In the conditions of the current crisis, due to an increase in the amount of insurance compensation and dissemination of state guarantees for many obligations of banks, it was possible to slightly reduce its scale and prevent mass outflow of funds from credit institutions.
In the Russian Federation, the Deposit Insurance system was introduced quite late compared to other developed and developing countries - in 2004 (law "on insurance of deposits of physicist individuals in the Russian Federation" dated December 23, 2003 No. 177-FZ), and issues of administration In the country, deposit insurance was repeatedly discussed in negotiations on Russia's accession to the WTO (even in individual CIS countries - Ukraine and Kazakhstan - the deposit insurance system was introduced accordingly in 1998 and 1999). True, until the mid-2004, the insurance guarantee system in one hundred percent volume acted in relation to the depositors of Sberbank of Russia. Currently, the requirement for mandatory deposit insurance is applied to all commercial banks that attract and place the means of individuals.
The introduction of deposit insurance systems in Russia largely contributed to the increase in population deposits, which amounted to 468 billion rubles. In 2004, 790 billion rubles. In 2005 and 1347 billion rubles. In 2007, the increase in March 2006, the maximum insurance indemnity from 190 thousand to 400 thousand rubles. The change in the structure of deposits by their size has led: deposits of more than 100 thousand rubles. Rose by more than 46%. At the same time, the currency and temporal structure of deposits have changed. Thus, in 2005, the share of deposits with a period of more than three years increased from 2.3 to 5.6%, the share of deposits in Russian currency increased from early 2004 to the beginning of 2008 from 69.9% to 87.1%, and The share of money incomes of citizens aimed at savings increased from 4.3 to 6.6%. All these processes were accompanied by a decrease in the share of Sberbank of Russia in the market of deposits of individuals: in 2004, 62.7% of citizens kept their savings in Sberbank of Russia, in 2007 - 51.4%. Since 2009 The maximum insurance indemnity is 700 thousand rubles.
In the context of enhancing the consequences of the global crisis, it is necessary to increase the efficiency of the functioning of the deposit insurance system and, as a result, return confidence in the country's banking system. To achieve these goals, we seemed to be necessary to implement a number of events:
increase the limit of compensation to the level of European countries and determine it in European currency (similar to the minimum size of the authorized capital of commercial banks);
install differentiated bank contributions rates in the insurance fund that take into account the risk of policy and operations, as well as to maintain a base rate at the existing level (in 2007, this figure was reduced from 0.15 to 0.13% of the amount of funds raised, and then reduced up to 0.1);
go to the gradual distribution of insurance system for deposits of legal entities, individual entrepreneurs and public organizations, as well as funds placed in pension and investment funds;
by reducing the profitability of financial institutions to protect in a certain part of the investment of their clients;
reduce compensation for the optimization of liquidation procedures in bankrupt banks;
increase the transparency of transactions in investing the funds of the Mandatory Medical Insurance Fund, in order to increase the profitability of the placed funds;
cancel commission charged with banks when paying insurance compensation.
These measures will allow the funds of legal entities and individuals to the banking sphere of the country, which will increase its sustainability and liquidity, and will also contribute to the growth of bank credit capabilities.
Conclusion
Deposits are cash or securities deposited in financial and credit, customs, judicial or administrative institutions on behalf of a private or legal person who for using these amounts in the activities of this organization can accrue a certain percentage.
The essence of deposit policy is that it allows banks to rationally organize and regulate customer relationships, manage the process of attracting funds for deposit accounts.
The fundamental point in the development of bank policy is the exact setting of the goal and the choice of the relevant elements for its implementation.
The objectives of the Bank's activities are as criteria for the entire subsequent process of making management decisions. The common goal of the bank as a commercial organization should determine the priorities of its policies.
When considering the Bank's Deposit Policy as an element of banking policy, it should be borne in mind that the goals of the Deposit Policy must comply with the objectives of the Commercial Bank and to ensure the stable development of the bank. The purpose of the Bank's Deposit Policy is to attract a sufficient amount of money with minimal cost, ensuring such a combination of resources that will create conditions for the effective placement of funds raised.
Based on this work, it can be concluded that the main criteria for the choice of the Bank are its reliability, which is primarily associated with the state nature of the bank, profitability and efficiency, as well as convenience at the disposal of means. In general, some shifts in understanding by the population of the banking system are observed - this is evidenced by an increase in the attention to the deposit insurance system and a decrease - to the fame of the bank. And the banks themselves, in turn, began to morely approach the attraction of cash, shifting accents not to increase the interest rate, but on the development of additional services and improving the quality of customer service.
In addition, the introduction of deposit insurance systems in Russia largely contributed to the increase in deposits of the population. At the same time, as practice shows, customers are interested in the reliability of the bank, but this is not a decisive factor, since the average depositors, as a rule, place cash within the amount guaranteed by the state.
In the consequences of the global crisis, it is necessary to increase the efficiency of the system of deposit insurance and, as a result, return confidence in the country's banking system.
The study of the theoretical foundations of the Commercial Bank's Deposit Policy and the assessment of the current situation in the field of attracting deposits allowed us to develop a number of proposals and recommendations for improving policies. So, to strengthen the deposit base and the expansion of resource potential, the Bank is offered:
- expand the list of existing contributions, focusing on different layers of the population with different levels of income.
- to pay interest on placed deposits forward to compensate for inflationary losses. In this case, the depositor when placing funds for a certain period immediately receives income due to him. However, if the contract is terminated early, the Bank recalculates interest on the contribution and excessively paid amounts will be held from the deposit amount.
- pay more attention to the deposit insurance policy.
The public confidence in Russian commercial banks is increasing annually, as evidenced by the statistics given in the work, the volume of deposits of individuals, which also contribute to attractive deposit programs of banks.
Unfortunately, the choice of bank is often carried out according to one of the key signs: state affiliation, interest rate, branched branch network and the presence of a branch close to home. Very many depositors, especially elderly, most often do not have the opportunity to use the resources of the Internet and specialized periodic literature, read and compare the deposit programs of various banks, to evaluate the reputation of the bank you like.
Still, many potential investors are lost in the diversity of deposit programs, without having sufficient experience to compare various proposals. As a result of the reduction of the deposit line and the allocation of several types of deposits, which have clear-understandable differences in the level of interest rates and conditions, banks and consumers will be in winning.
It is necessary to further increase the confidence of the population to the banking system, explaining both the regulations adopted to protect depositors and the banks themselves, helping potential investors to navigate in the diversity of proposals. It is also important to popularize the precedents of reimbursement by the state of losses on the contributions of the population, which will have a positive impact on the number of concluded banking contributions.
List of used literature
1. Russian Federation. Laws. On insurance of deposits of individuals in the Russian Federation: Federal Law of December 23, 2003. № 177-FZ / Russian Federation. Laws // ATP ConsultantPlus
2. Abdullayev Sh. The role of prudential supervision in the process of deposit insurance: forms and methods of protection of bank deposits // Economy issues, 2004. - N 1. - P.98 - 106.
Vasilishen E.N. The concept of flexible assets management and bank liabilities // "Business and Banks" dated 21.11.97
Golodov Z.G. Improving the deposit insurance system // Finance, 2009. - №9
Money. Credit. Banks: Tutorial. / Ed. G.N. Bellazova - M.: Higher Education, 2009. - 392 p.
Ibrahimova D.Kh. Bank deposit market: What has changed for a year and a half? // Banking Retail, 2010. - №3
Ivanov A.P. Positive interest rates - innovative development condition // Financial Bulletin: Finance, Taxes, Insurance, Accounting, 2009. - №9
Panova GS Credit policy of a commercial bank in relationship with the population. 1997. - 565 p.
Turbov A.V., Eusttenko N.N. Deposit Insurance System: World Practice and Development Trends // Financial Law, 2004. - №1. - P.60 - 64.
Sheremet A.D. Financial analysis in a commercial bank / A.D. Sheremet M.: Finance and Statistics, 2002. - 256c.
11. URL: http: //obrotah1.ru/
Introduction
Chapter 1. Commercial Bank His structure and functions
1.1. Reorganization of the banking system
Chapter 2. Deposit Policy of Commercial Banks
2.1. Deposit deposits
2.2. Deposit and savings certificates
Conclusion
application
Introduction
Reforming the economy and the transition of Russia in the direction of world economic development implies the need for an in-depth study of the processes constituting the core of market transformations to which the formation and development of the securities market, their placement, resale, modifying, repayment and other operations include.
Commercial banks on the securities market can act as issuers of securities, intermediaries in operations with securities and perform operations with securities on their own behalf in order to obtain income.
Securities produced by commercial banks can be divided into two main groups: 1. Shares and bonds;
2. Checks, savings and
additional certificates.
The main part of the resources of banks is formed by attracted funds that cover up to 90% of the entire need for cash to carry out active banking operations. The commercial bank has the opportunity to attract funds of enterprises, organizations, institutions, publics and other banks in the form of deposits (deposits) and the opening of the relevant accounts.
The contribution (deposit) is money (in cash and non-cash form, in national or foreign currency), transferred to the bank their owner for storing under certain conditions. Operations related to the involvement of funds in the deposit. Are called deposit. For banks, contributions are the main type of their passive operations and, therefore, the main resource for conducting active credit operations.
Objectives of the course work:
1. A deeper development of educational material on deposit operations of a commercial bank.
2. Acquisition of skills to work with educational, scientific, reference, periodic literature. The ability to identify and analyze it.
3. The ability to accurately sequentially state your thoughts based on the existing literature, draw conclusions.
Currency tasks:
1. Give a brief description of the work of commercial banks.
2. Determine which operations refer to deposit, showing their composition and structure.
Chapter 1. Commercial Bank, its structure and functions.
1.1. Reorganization of the banking system.
The Bank is a commercial institution that attracts funds for legal entities and individuals and on their own person places them on repayment, payability and urgency, and also carries out calculated, commission - intermediary and other operations.
Until 1987, the banking system included three banks - monopolist: Gosbank of the USSR, Stroybank of the USSR and Vneshtorgbank of the USSR. I also existed the system of Gosperlyberkass.
State Bank of the USSR, being a commission institution, at the same time was the center of short-term lending, the implementation of the cash and settlement service of the economy. Combining the emission functions and functions on calculating the credentials of the clientele, the monopolous consolidation of them for the bank (one) turned the state bank of the USSR into the government and control body.
In the conditions of the administrative and command system of economic management, credit relations had the formal nature of the State Bank of the USSR possessed almost completeness of credit resources. All free funds are automatically accumulated on his accounts, forming a national loan fund. The funds of this fund were centrally distributed in accordance with the approved credit plans. The role of credit institutions in the field was reduced in essence to the distribution of loans between specific borrowers in accordance with the purpose instructions provided for by the plan. Banking institutions were responsible mainly to higher organizations, and not by customers.
Decentralization of economic management under the conditions of transition to the market demanded changes in the role of the banking system in the economic management mechanism. Its reorganization began in 1987
At the first stage of reorganization, a new structure of state banks was created. The reorganization model included:
Creation of a bio-e-banking system of the Central Emission Bank and state specialized banks (Promstroybank of the USSR, Agroprombank of the USSR, Zhilsotsbank of the USSR, Sberbank of the USSR, Vnesheconombank of the USSR), directly serving the economy.
Translation of specialized banks for full consumption and complete self-financing.
Improving the form and methods of credit relations with enterprises of various industries of the economy.
The central place in the country's credit system was taken by the State Bank. Previously performed by the functions of lending to enterprises and organizations of various sectors of the national economy were transferred to specialized banks.
The main motive of transformations was the desire to bring banks to the interests of the economy. Reorganization to a certain extent has intensified banking. But it could not fundamentally change the situation, because essentially did not affect economic relations, because It was held "top". Required the second stage of reorganization. It was launched in 1988, the creation of the first commercial banks, which were called upon to become a foundation for the formation of market relations and structures in the banking sphere that supports the design of the financial market. The creation of such a market means the replacement of administratively deployment relations on flexible economic methods of moving financial resources in the field of the most effective application.
The commercial purpose of the activities of banks serving the economy is to make a profit, which makes it makes flexibility in customer relationships. And enterprise in conducting passive, active and commission-intermediary operations.
Commercial banks operate on the basis of business competition for attracting customers, credit resources and the sphere of their advantageous application, which contributes to the expansion of banking services.
Working within the limits of actually attracted resources, while ensuring that this liquidity is maintained, a commercial bank can only have a high degree of economic freedom combined with full economic responsibility for the result of its activities. Economic independence implies freedom of disposal of the Bank's own funds and resources attracted, free choice of the client and depositors, the disposal of income left after paying taxes.
The organizational structure of commercial banks complies with the generally accepted management scheme of the joint-stock company. Supreme Commercial Bank - General Meeting of Shareholders. The general management of activities is carried out by the Board of the Bank. It also imposes control over the work of the Bank's Board. The composition of the Council, order, the timing of elections of its members is determined by the Charter of the Commercial Bank.
The direct activity of the commercial bank is headed by the Board, his chairman is standing.
The Audit Commission is elected by the General Meeting of Shareholders and is subordinated to the Bank's Council.
The specifics of the banking institution, as one of the types of a commercial enterprise, is that the overwhelming part of its resources is formed not at the expense of its own, but at the expense of borrowed funds. The possibilities of the Bank in attracting funds are governed by the Central Bank of Russia and is currently determined based on the size of equity and its organizational and legal form:
For commercial banks are created on the basis of the former government specialized banks, the amount of funds raised should not exceed its own capital of 25 times;
For banks created as a closed joint-stock company - no more than 20 times.
Banks created in the form of open-type joint-stock companies are no more than 15 times.
The problems of the formation of capital of commercial banks, differing in their breadth and discussion, are often evidently emotionally - a poetic color that creates a figurative idea of \u200b\u200bsignificance to the difficulty of growth in the capital base of banks: Gerotic Bank Capital,
You Exterpassed your official
Whites rules. I pray:
Terepi and not moving down to zero.
Capital (free funds) perform a number of all functions in ensuring management to the vital activity of a commercial bank. First, your own capital, in terms of the authorized capital, made by the founders of the Bank, performs at the initial stage in the role of the starting facilities necessary for the construction and rental of premises, installation of equipment, hiring staff and their expenses, without which the bank cannot start their activities. During the growth period, the Bank is needed in additional capital to create new capacities associated with the expansion of the spectrum of services provided and the introduction of progressive banking technologies. Secondly, capital strengthens customer confidence in the bank, convincing the avoiding risk of investors in force, and borrowers in the ability to meet the demand for commercial and consumer loans. Third, capital, providing protection against bankruptcy bank, serves as a kind buffer, absorbing damage from current losses to permission to the management of the bank of the brewing problems. Finally, Capital is a regulator of the Bank's activities, through which state bodies ask him the norms of economic behavior that protect the bank from financial instability and excessive risks.
1.2. Assets and liabilities of a commercial bank.
Until recently, the domestic banking system had a certain formation associated with the monopoly first of the State Bank, and after the 1988 reform of the specialized banks on credit resources. This monopoly was expressed in the volitional distribution of the clientele between the banks and, accordingly, in consolidating funds for any bank. Banks did not have an interest in attracting free funds to their accounts, since the size of their active operations was determined by the moments of credit investments, and not actually attracted to accounts. The lack of incentives to attract deposits was also associated with a certain state policy. The transition to a two-level banking system, the creation of economically independent commercial banks, the translation of the economy on the principles of self-financing marked the problem of the formation of liabilities, as one of the most relevant in the work of banks.
Active operations include operations on the placement of resource banks for profit and liquidity issues. Profit and liquidity - two fundamental principles that reflect the essence of active operations inherent in the bank as a commercial enterprise using usually attracted resources.
Active operations are manifested in various forms, which is shown in the diagram:
The most liquid active articles are: Cashier, correspondent accounts, currency accounts in other banks, funds for reserving credit resources. All these articles, combined, are called reserves of the banking system. In their composition, excessive reserves are allocated to which cash balances include correspondent accounts and in banks. In connection with the consideration of bank assets, it is appropriate to recall the monetary mass multiplier representing the relation of the entire money supply to the monetary base - the money established by the Bank of Russia.
Passive operations play an important role for commercial banks. It is with their help that banks acquire credit resources in cash markets.
Passive operations allow you to attract money to banks already in circus. New resources are created by the banking system as a result of active credit operations.
Under liabilities, such operations of banks are understood as a result of which there is an increase in cash on passive accounts.
There are 4 forms of passive operations of commercial banks:
A) primary issuance of securities;
B) deductions from the bank's profits on the formation or increasing funds;
C) loans and loans derived from other legal entities;
D) deposit operations.
2. Deposit Policy of Commercial Banks
2.1. Deposit deposits
The deposit is economic relations about the transfer of customer's funds for temporary use of the Bank.
Exploring the essence of the bank deposit E.S. The stationelenbum noted the features consisting in his dual nature: "Deposits are made for contributors with potential money.
The depositor may write a check and put into circulation the appropriate amount into circulation. But at the same time, "bank money" brings a percentage. They act for the investor in a double role: in the role of money, on the one hand, and in the role of capital, bringing the percentage, with the other ... The advantage of the deposit before cash is that the deposit brings interest ... and the lack of What a deposit brings a reduced percentage compared with the percentage that capital usually brings. This reduced percentage is not a random phenomenon, but a significant moment of the nature of the bank. For the entire essence of the nature of the bank is that the percentage payable for deposits is below the percentage that banks are obtained for the capital placed in various enterprises. This difference in percent ... is about a part of those percentages that are charged on active operations. "
Deposit accounts can be the most diverse and the basis of their classification such criteria as sources of deposits, their purpose, the degree of profitability, etc., however, most often as a criterion is the category of the depositor and the form of deposit seizure.
Deposits of individuals.
Deposit operations - a broad concept, since they include all the activities of the Bank associated with the involvement of funds in deposits.
In the basics of civil law, it is envisaged that under the Bank's Deposit Treaty, the Bank undertakes to keep funds invested by the Depositors, to pay all types of interest or otherwise, to fulfill the depositor's instructions on the calculations of the contribution and return the deposit amount on the first requirement of the depositor on the terms and in the manner provided For the contribution of this type of legislation and the contract.
The contributions of citizens have the right to take only banks that ensure their safety and timely return by insurance or other methods provided for by law.
The safety and refund of the contributions of citizens in banks created by the state, and banks, where the state owns more than 50% of shares (shares), guaranteeing the state or the central bank responsible for non-fulfillment of obligations to depositors.
To protect the population, maintaining confidence in commercial banks and maintain the stability of the banking system of Russia on newly specified banks created from January 1, 1995, a license to carry out operations to attract funds to deposits only on the following conditions:
1. Banking activities within one year;
2. Publication of annual reporting (balance) and income statement confirmed by an audit company;
3. Compliance with banking legislation and regulatory acts of the Bank of Russia, including decision-making economic standards;
4. The presence of a reserve fund (carrying account 011) is in the amount of at least 10% of the actually paid by the authorized capital;
5. The presence of reserves for possible losses on loans (Balance account 945) in accordance with the Bank of Russia.
A bank that performs operations to attract funds in deposits (deposits), during 1995 it was proposed to take measures to build up their own funds (capital) so that their value would fully cover the obligations of the Bank on the contributions of the population.
Declaration of deposits can be addressed only on the basis of a sentence or court decision.
For economic content, all deposit contributions can be grouped:
In forms of withdrawal;
In order to use stored funds.
The practice of banking activities knows many different forms of the organization of deposits. Their classification is presented in the diagram (see Appendix No. 1).
Reception of any deposit means the emergence of a certain monetary obligation of the Bank before the client. From the scheme it can be seen that a clear definition between various types of deposits is probably not. Banks recently began to use such a form of deposits at which the regime of claims to demand with the term deposit regime is applied. Having made such a deposit, the depositor may at the expense of the funds are stored there to give the bank an indication of transferring to a third party. Typically, such operations were carried out on demand accounts, now interest interest on them, as for urgent deposits.
Development of deposits belongs to an important role in managing bank resources. The term "multiplication" indicates the coefficient of changes in the amount of bank credit resources under the influence of the change in the amount of deposits (deposits).
Based on the theory of cartoon, it is proved to significantly increase the amount of payment tools deposited in the form of deposits on customer accounts. Loans issued by one bank to his client enrolled on his account and settled in the form of a contribution create an opportunity to increase credit resources from other banks. However, such animation is limited to a number of factors:
Economic needs of the economy in increasing such resources (loans);
The sum of attracting other credit resources (liabilities) of banks;
The sum of mandatory reserves deposited in the Central Bank.
Strengthening the deposit base is very important for banks. By increasing the total contributions and expanding the circle of contributors of legal entities and individuals, it is possible to improve the organization of deposit operations and the system of stimulating contributions.
This can be achieved by expanding the deposit accounts of legal entities and individuals to demand, which will fully meet the needs of customers, improve maintenance, increase interest in placing funds in banks.
Deposit can be used in two values:
1. Deposit is a cash or papers introduced by the debtor in financial and credit, judicial or administrative institutions for storage, followed by transfer (under certain conditions) or other business entities or citizens - depositor (contributions to customs duties, deposit contributions Court accounts in ensuring the claim and to transmit recovers, contributions to notarial offices, if it is impossible to give money or securities directly to the recipient).
2. Deposit is the contribution of cash or securities to banks. The deposit is a contribution to a rigid - a certain period in which the conditions of return or securities immediately negotiate.
Deposits are the source of the formation of loan capital of the Bank, which is used to issue loans, investment and the like. These banking operations bring revenue bank. Therefore, the Bank pays the citizen of his deposit. The percentage of deposit deposits to a citizen and is a fee for invested money.
Deposits are demanding, urgent and conditional.
Demand deposits are placed in banks on various accounts opened by customers. They are designed to carry out current calculations and at any time can be fully or partially in demand. The seizure of deposits is possible both in cash and in the form of non-cash (funds) calculations.
With regular use of stored funds on current accounts, customers still have certain unused balances. The presence of balances on customer accounts is associated with the settlement of funds on passive
Accounts in commercial banks during the segment of time, to establish which at the time of their receipt to the account is almost impossible. Such are the estimated current or budget accounts of legal entities and individuals, special accounts on which targets are stored, correspondent on settlements with other banks, as well as funds in the calculations. The bank, opening accounts to customers, uses credit balances on accounts for active credit operations.
Demand deposits are funds that can be in demand at any time without prior notice to the Bank from the Client.
From the point of view of bank liquidity management, current accounts are current accounts and budgetary, accounts for financing capital investments, special-purpose accounts, since the nature of the movement of funds on them (amounts, deadlines, frequency of payments or transfers) can be known to the bank . In addition, the owners of current and budget accounts due to their status (the absence of the rights of a legal entity) does not claim loans, which allows banks to actively use these funds to lend the economy. However, at present, the possibilities of commercial banks in this direction is limited, because The Central Bank assumed the functions on the cash use of the budget, as well as on the use of funds on accounts for financing capital investments.
The so-called continental account should be attributed to the number of demand deposits.
Contractor, current account is a single account, which takes into account all bank operations and all payments from the account on behalf of the Client, and on the other - the funds entering the account in the form of translations, deposits, return loans, etc.
Thus, this is an active - passive account, which is a compound of computational and loan accounts. Credit balance means that the client has its own funds, debit that borrowed funds are included in the turnover and the account owner is the debtor of the Bank on the loan. According to the credit balance, the Bank charges interest in favor of the client, and on debit - accumulates interest in its favor as for the loan provided. Moreover, interest in favor of the bank are accrued at a higher rate than in favor of the account holder. Contractional accounts are opened with reliable customers, first-class borrowers, as a sign of special confidence. The account owner in excess of expenditures on the receipt of funds has the ability without special design in each particular case to receive a loan in a certain agreement with the amount of the amount.
A certain similarity with a fixed account has a current account with overdraft. This account, according to which, on the basis of an agreement between the Bank and the Client, is allowed in a certain amount of excess of the amount of write-off on account, over the amount of fund balances, which means borrowing a loan. However, the difference between these accounts should be seen. In case of overdraft, in contrast to the contract, such interactions are carried out on occasion to the case, are irregular. Accordingly, the passive (credit) balance is more characteristic of this account.
The presence of the current account with overdraft does not exclude the client opening to conduct certain operations of additional deposit or loan accounts, at the same time, all operations carried out by the Bank in relation to the client are focused on a subscript account. In addition, constant accounts are opened in the address of economic organizations - legal entities, while an overdraft account can be opened with a non-revocative person, as well as physical, to cover temporary breaks in the receipt of consumables.
Demand deposits include correspondent accounts of banks opened in the RCCs or banks - correspondents in order to carry out settlements and payments unilaterally or on behalf of each other. As you know, correspondent accounts opened in other banks - correspondents are called Nostro - accounts (our account) on the contrary, correspondent accounts open by banks - correspondents in this bank are called Loro accounts (their account).
As a rule, when establishing correspondent relations between banks, the parties provide for the possibility of formation of overdraft on these accounts. The limit size of overdraft, deadlines, interest rates on debit or credit residue, along with other conditions, is determined by the agreement on correspondent relations between banks. Education on the passive (credit) balance account, means the presence of additional resources in the bank, i.e. Providing a bank - a credit correspondent. On the contrary, on the account - the Nostro credit balance means involvement in turnover in accordance with the Overdraft Treaty of the Funds of another bank, and debit - the placement of part of its funds in this bank - correspondent.
It is important to note that the debit balance should be distinguished on the account as the form of a short-term loan (overdraft) provided for by the agreement between the client and the bank, and the debit balance (negative) on the account. As a result, the violation of the payment discipline, non-fulfillment by the client, i.e. Negative phenomenon in the economic activity of the account holder.
In the latter case, the Bank applies cruel sanctions to the client for the debit balance of penalties, fines, or the assignment of this amount to the account of an overdue loan, with the recovery of elevated interest; Suspension of payments on the account and sending all revenues to the client's account on repayment formed by the Bank's debt.
This reaction of the bank is legitimate and justified by the threat of deterioration of its own liquidity and solvency.
In most commercial banks, demand deposits occupy the greatest proportion in the structure of attracted funds. This is usually the cheapest source of banking funds. Due to the high mobility of funds to the balance on demand for demand, it is inconsistent, sometimes extremely variable. The possibility of an account holder at any time to remove the means requires the availability of high-liquid assets on the bank. (balance of funds at the checkout, on a correspondent account, due to the preservation of the share of less liquid, but bringing high income of assets). Due to these reasons for remnants of claims to demand, banks pay the owners a rather low percentage or no income do not charge at all. However, despite the high mobility of funds to demand, it is possible to determine their minimum, non-decreasing residue and use it as a stable credit resource.
The calculation of the share of funds stored in demand accounts, which can be translated into "urgent" deposit accounts (in order to increase the funds of income from the funds placed in the Bank and the formation of a stable lending resource for banks) is made by the formula:
D \u003d Ore: to about. x 100%.
The share of funds stored during the year on various current accounts that can be translated into deposit accounts. OSR is the average balance of funds in the current or current account for the year.
To about. - Credit turnover on the calculated or current account for the year.
Urgent deposits are deposited accounts on deposit accounts, from the right to order which the contributor refuses to a certain period.
Urgent deposits are deposits related to the bank's attracted banks. They are accepted only in round sums. Often the minimum contribution is also required. Some institutions are usually allowed to make urgent deposits only to business customers, while private clients are recommended savings deposits as the form of capital premises.
Urgent deposits are made by depositors for any purpose, however, the depositor cannot at any time dispose of them, since the contributor cannot at any time require from the bank return of term deposits. There are two forms of term deposits: a deadline with a fixed period and a deadlines with a preliminary notification of withdrawal.
The right notice has a client and credit institution.
Urgent deposits involve the transfer of funds to the Bank's full order for the term and conditions under the Agreement, and after this period, the urgent contribution may be removed by the owner at any time. The amount of remuneration paid to the client on the urgent contribution depends on the period, the deposit amount and the fulfillment of the terms of the contract. The longer the timelines (or) more deposit amount, the greater the amount of remuneration. The current practice provides for registration of urgent contributions by 1,3,6,9, 12 months or longer periods.
Such detailed gradation stimulates investors to a rational organization of own funds and placing them into deposits, and also creates the conditions for banks to manage their liquidity.
Deposits with a preliminary notification of dissemination of funds means that the seduction of the Customer should notify in advance, notify the Bank to a certain term of the contract. (as a rule, from 1-3, from 3-6, from 6-12 and more than 12 months). Depending on the notice period, the interest rate on deposits is established, but the bank reserves the right to change the interest rate. It is necessary because it is impossible to foresee how long the contribution will be held, i.e. When the client does notify. The advantage of all urgent contributions is that they do not depend on the course (oscillations), such as securities. Urgent deposits are created only due to the simultaneous contribution of the client or transfer.
After the payment period of payment, the money amount should be invested in another amount for another period or introduced into the payable turnover as an investigation contribution. Sometimes urgent deposits are extended (prolonged) if the depositor is not yet needed. Moreover, prolongation can be carried out several times.
Urgent contributions have the advantage that they can be more profitable to place in credit operations than demand deposits.
Urgent deposits are issued by the Treaty between the Client (Depositor) and the Bank represented by the head. Banks independently develop the form of a deposit agreement, which is carried on a separate type of contribution of a typical nature. The contract is drawn up in two copies: and one of the investor is stored, and the other in the bank, in the credit or deposit department (depending on who in the bank is entrusted with this work). The contract provides for the amount of the contribution, its validity period, interest that the contributor will receive after the expiration of the contract, the obligations and rights of the depositor, the duties and rights of the bank, the responsibility of the parties to comply with the contract, the procedure for resolving disputes. Many banks establish the minimum value of the contribution, the value of which depends on the orientation of the bank in a small, medium or large client.
For its part, the Bank undertakes in a timely manner to fulfill all the terms of the contract and be responsible for their violations, which may be expressed in establishing penalties or fines for the late issuance of funds to the owners of the deposit or interest payments. Disputes arising between the bank and the client should be solved in an arbitration or judicial order (if the contributor is an individual).
Intermediate position between urgent deposits and demand deposits occupy savings deposits. Traditionally, these operations carried out Sberbank, however, at present, during a competitive struggle for resources, commercial banks began to master this market of loan capital.
Foreign practice considers savings operations apart from deposit, focusing on the fact that the distinguishing feature of the savings contribution is that the owner is issued a certificate of contribution, most often this is a savings book.
Savings deposits serve to accumulate or invest cash savings. At the same time ... Monetary amounts placed on accounts that are intended to make payments or from the very beginning, nested for a certain period relate to savings deposits.
Savings deposits include contributions formed in order to accumulate or preserve cash savings. They are characterized by a specific motivation of occurrence - promoting leaning, accumulation of target facilities and a high level of profitability, although lower than on urgent deposits.
In domestic practice, the savings deposits are implied primarily operations with accrual, and urgent deposits of the population and the account of citizens are also related to the savings. Commercial banks have adopted the experience of a savings bank and significantly diversified the conditions for customer service. In the balance sheet of banks, savings deposits are taken into account on the same balance sheet accounts as urgent deposits. The deposit of the contribution may be similar to the urgent contribution or to have its own specifics depending on the conditions of a particular type of deposit. Thus, a demand savings account can be issued by a savings book, which reflects all investment operations.
The current situation in the credit resource market is characterized by increasing tensions. Inflationary processes in the economy that reduces the interest of the economy and the population in the accumulation of funds, on the one hand, increased norms of mandatory reserves, as one of the manifestations of a rigid registration policy of the CBD - on the other, led in 1992-1993. A sharp reduction in the volume of credit resources of commercial banks. These circumstances make banks change policies in the field of passive operations through diversification (diversity) of deposit operations. For example, a wide distribution in banking practice received a deposit for the service life, which opens to customers when the current account is issued.
This deposit has features characteristic of various types of deposits and at the same time its specific features. For example, the deposit amount is clearly defined and fixed by the bank.
It is mandatory, because The deposit amount must be submitted simultaneously with the opening of the current account or during the term agreed with the Bank (from 1 to 3 months), otherwise the Bank has the right to stop customer service. This deposit can be attributed to conditional deposits, for the withdrawal of funds from it is possible only in the case of closure to customer accounts. It is considered an indefinite, which allows the bank to use it as an early loan. It characterizes the low yield and even the complete absence of interest accrual by analogy with demand accounts.
Some banks give this deposit the nature of the collateral, i.e. Provides for the right of the depositor himself to receive a loan in the deposit amount without additional support, because The contribution is in this case a guarantee of the return of the loan. Thus, due to the deposit, on the term of the deposit for the service life, commercial banks receive a stable long-term cheap credit resource, allowing them to form high profits. However, from the client's position, this deposit is "forced" character, because Distraction of funds from turnover for an indefinitely long term does not bring him income. In a competitive struggle for the clientele, such a deposit becomes allowed only for those banks that have the opportunity to offer the client comfortable and preferential conditions for cash services or a set of other services compensating directly or indirectly listed above. Otherwise, the Bank may lose not only future, but already existing customers.
Certain interest are contracts providing customer lending on the basis of cash accumulation on the deposit account. According to the Treaty, the Bank assumes the obligation to provide the Client subject to the accumulation and storage of the latter within a certain period of a certain amount of money. The formation of funds on the deposit account may occur either by the possibility of the client and at a convenient time for it, or on the basis of the accumulation plan, i.e. Regular, agreed with the bank in the amount and frequency of contributions. The smaller the gap between the funds on the deposit account and the value of the loan received, the less the percentage of the loan, because The risk of a bank is reduced in the timely repayment of the loan and the economy of credit resources is achieved. The amount of the accumulated deposit and interest on it can be credited to repay the loan and pay interest for the loan.
An important direction in the activities of commercial banks is to work on attracting funds of the population, and they manage to successfully compete with the largest monopolist in this area - with a savings bank.
Many commercial banks in the work with the population use not only traditional types of deposits and services from the practice of Sberbank, offering customers more favorable conditions, but also found new forms of the organization of savings and attracting funds to citizens.
For example, the transfer of wages of employees of enterprises, founders or other clients to accounts in the bank made it possible to organize a new type of banking activity - self-dedication of customers. Those. Due to the amounts stored on the current accounts of workers and employees, enterprises are able to satisfy their need for borrowed funds at a preferential interest rate on the loan. Privacy remains in the benefit, since banks are trying to pay higher interest on current accounts than Sberbank, to index deposits in accordance with the rates of inflation, provide an opportunity to use overdraft loan.
The Moscow Commercial Toribank in 1992 was one of the first to be the campaign to attract the contributions of individuals. The minimum deposit amount was determined in 10 thousand rubles, the minimum shelf life of one year. The level of deposit interest was established depending on the value of the contribution and storage period, the monthly indexation of deposits was envisaged, based on the average coefficient for changing the retail prices of Moscow stores. Soon this bank began lending to its depositors. In the future, Toribank began to discover its customers special accounts for the creation of personal pension funds. The fund is formed within 2 years by making fixed amounts. After this period, the owner of the Fund is accrued monthly in the form of a peculiar pension. At the same time, the bank index the amount of interest rates based on inflation. A skillful campaign on attracting individuals deposited brought Toribank to second place after Sberbank
Russia on the amount of fund balances in accounts.
The experience of the joint activities of the Moscow joint-stock commercial Elexbank and Moscow postage postage officer is interesting. According to the Treaty in the departments of the Moscow Regional Postiment Bank, the maintenance points of Elexbank customers are open, which allows the latter to use unclaimed funds in their activities, received in the branch of communication in the form of pensions and translations.
The profit obtained from the use of these funds shares equally between the Bank and Mospochetambank. In order to attract funds and new clients, Elexbank invited the owners of these accounts; Attractive terms of service: payment of interest on account balances, providing an overdfpoble loan (by paying a pension for three months ahead, transfer from the account of payments for utilities, etc. As a result of this cooperation, Elexbank began to serve 75% of the Moscow Pension Fund.
An important means of competitive struggle between banks for raising resources is a variety of interest plastic, for the acquisition of income to the invested means serves as a significant incentive for the deposits of deposits. The level of deposit interest rates is established by each bank independently, focusing on the banking rate of the Central Bank, the state of the money market and on the basis of its own deposit policy. According to certain types of deposit accounts, the amount of revenues is determined by the term of deposit, the amount, the specifics of the functioning of the account, the volume and nature of the associated services, finally depends on the compliance of the deposit conditions by the Client.
The determining factor in the establishment of interest rates on urgent deposits is the period for which funds are placed: the longer period, the higher the level of interest. The essential point is the frequency of income paying, the less often the payment, the higher the interest rate level. Various methods for calculating interest are also used.
The traditional view of the calculus of income is simple interest when the actual deposit residue is used as a base for calculation, based on the percentage provided by the percentage agreement, the deposit is calculated.
Another view of the income calculation is complex interest (interest percentage percentage)). In this case, after the expiration of the estimated period, the percentage of the contribution is charged and the value obtained is attached to the deposit amount. Thus, in the next settlement period, the interest rate applies to a new, increased earlier income accrued, database.
The progressively increasing interest rate is also used, depending on the time of the actual finding of funds on the contribution.
Such an order of income accrual stimulates an increase in the storage period of funds and protects the contribution from inflation.
Some banks, with the aim of compensating inflationary losses, offer interest in advance. In this case, the depositor when placing funds for a period immediately receives income due to him.
In addition to the flexible interest policy, in order to attract funds, the banks must create depositors to ensure the reliability of the facilities in deposits. To ensure a guarantee of the reliability and protection of investors' interests in the case of bankruptcy of banks under the auspices of the Central Bank of Russia, an insurance fund is created. The value of the accrual in this fund is set 1% of the income of the commercial bank. Participation in the formation of the Insurance Fund gives the Bank if it is insolvency, the right to compensate for the contributions of its customers. A variation of urgent contributions are deposit and savings certificates.
2.2. Deposit and savings certificates.
The certificate is a written commitment of the Bank of the Issuer on the contribution of funds, certifying the right of the depositor or its right of the receiver to receive after the established period of the deposit amount and interest on it. Certificates can be produced both in one-time and series.
Certificates can be registered and for bearer.
The certificate cannot serve as a settlement or payment facility for sold goods or services rendered.
Cash payments on the purchase - sale of deposit certificates and payments on them are carried out only in non-cash.
Deposits and savings certificates are securities.
A savings certificate can be issued only to a citizen of the Russian Federation or another state that uses the ruble as an official monetary unit. A deposit certificate can only be issued by an organization that is a legal entity registered in the territory of the Russian Federation or on the territory of another state that uses the ruble as an official monetary unit.
The certificate is not subject to export to the territory of the state, not using the ruble as an official monetary unit. The right of the claim for a depository certificate can be transferred only to legal entities registered in the territory of the Russian Federation or another state that uses the ruble as an official monetary unit. The right demand for a savings certificate is transferred only to citizens of the Russian Federation or other state that uses the ruble as an official payment unit.
Certificates should be urgent. The term of appeal to deposit certificates (from the date of issue to the date, when the certificate owner receives the right to demand the deposit or certificate contribution) is limited to one year.
The change in savings certificates is limited to three years.
In the event that the term of receipt of the deposit or certificate contribution is overdue, then such a certificate is considered to be a demand document for which the Bank is committed to paying the contribution to the first requirement of the owner (beneficiary).
The bank may provide for early presentation of an urgent certificate. At the same time, the Bank pays the owner of such a certificate amount of the certificate and the percentage at a reduced rate installed by the Bank when issuing a certificate.
Interest on certificates are established when issuing and indicated on the blanks in percentage and money. At the same time, interest payments due to the owner after the certificate expiration do not depend on the acquisition time.
In international practice, having received interest deposit certificates, discount, i.e. Sold down the price lower than the nominal and certificates with a "floating" rate. The validity period of the last certificate is from 3 to 5 years and the interest rate is determined every 6 months for the next six months.
The form of the registered deposit certificate must take place for gear stations.
The certificate form must also contain all the conditions for the issue, payment and appeal certificate (conditions and order of assignment of rights, the certificate requirement. If with the certificate, an operation not provided for by the conditions contained on his letterhead was considered invalid.
Making blanks of deposit and savings certificates, both nominal and bearer, is made only by printing enterprises that have a license to issue securities.
The bank independently develops the conditions for the issue and appeal of the certificate.
Conditions for the issue and appeal of certificates, a description of the appearance and sample certificate are approved by the Board of the Bank - Issuer and are sent in 3 copies on the expertise to the main territorial management of the Central Bank of the CBD on Methods of the correspondent account, which gives conclusion about compliance with the Bank - the issuer of existing certificate issuance rules And in the absence of violations, one instance of the conditions is sent to the management of the CBR securities. The conditions for the issue of the certificate must be in accordance with the instructions of the Ministry of Finance of the Russian Federation "On the content of the prospectus of the securities emissions". Certificates, being securities, are not subject to registration and does not require a special decision on their issuance from the CRH. At the same time, the territorial management may prohibit the issuance of certificates, as well as recognize invalid released on the following reasons:
The terms of the issue contradict the current legislation or rules of the CBD;
Bank - the issuer timely did not provide the conditions for the issue to the main territorial management of the CBD;
The Bank violates the current legislation and rules of the CBD on the process of issuing and handling a certificate.
The certificate owner can give way to the right of the certificate requirements to another person. For a bearer certificate, this concession is carried out by a simple delivery, the name is drawn up on the reverse side of the certificate by a bilateral agreement (as follows).
At the occurrence of demand, the owner of the certificate must submit it to the bank together with a statement containing an indication of the method of repaying the certificate.
For the purpose of accounting sold certificates, commercial banks lead special registration journals or provide for a certificate issuance with special starting roots containing the same registration details.
Certificates are issued in terms of 1 month to 3 years, and in the amount of deposit certificates - from 5 thousand to 10 million rubles, savings certificates from 1,000 and more than 1 million rubles. Interest rates depend on the size and term of the deposit, some banks carry out indexation and monthly income payment. Deposit certificates can be bought at any time during the period of their action - interest is charged from the date of purchase.
Some commercial banks (power bank, credit - Petersburg, Astobe, PSB) are issued by deposit certificates transmitted (or indescribable) to other endorsery owners with dignity from 500 thousand rubles to 10 million rubles. For a period of up to a year, calculated on large investors. PDS is usually sold by government agencies, pension funds, corporations. Such PDSs bring revenue exceeding the interest rate on short-term treasury bills of less period (three-month and other) and can contact the secondary securities market. Commercial banks in order not to lose, most, a stable source of credit resources are forced in conditions of inflation to indexing the savings certificates by increasing the interest rate, which is an incentive for the population when buying.
Certificates have significant advantages over urgent deposits issued by simple deposit treaties: thanks to more possible financial intermediaries in distributing and handling certificates, a circle of potential investors is expanded; Thanks to the secondary market, the certificate may be early sold by the owner to another person to obtain some income during the storage time and without changing the volume of bank resources, while the early seizure of the owner of the urgent contribution means for him a loss of income, and for the bank a loss of resources .
The disadvantages of certificates are: increased bank costs associated with certificate emissions, as well as the fact that income on them is the object of taxation, in contrast to accounting accounts and term deposits. The latter feature is taken into account by banks, so interest on certificates is usually higher than interest on urgent deposits with similar deadlines and sum.
Since 1992, the CBR has introduced a restriction in the form of a ban on the use of deposit certificates as a means of payment. At the same time, constant delays in the calculations, especially between enterprises of different cities and the lack of payment means, is due to the need to search for new financial instruments. One of them is a bill.
Performing the same function, the bill can be discharged to any amount and under any interest rate; There is a practice of their release with the currency fault, which is prohibited by the certificates. In addition, bills can serve as a settlement or payment facility for the work performed, services and conditions for their release do not need to register. A bills are issued to the client in the form of a billbook. The book is sold for any time and any nominal, with a discount. The client bought it can be calculated for goods and services, and the new owner of the bill also has the right to transmit it to a third party (by simplication of the relevant endorsement). In addition, it is possible to take place early accounting of bills in the issued bank. Analysis of the issues of emission in circulation of this financial instrument allows us to conclude that the bank bill has a clearly pronounced deposit nature and in this aspect resembles deposit certificates. Being in advance accordants, bills are not allowed not to the bank, but on their counterparty. However, the classical basis of billproof is a loan character in contrast to the deposit nature of checks and certificates.
Conclusion.
Deposits are an important source of resources of commercial banks. Deposit accounts can be the most diverse and mostly their classification may be given such criteria as sources of deposits, their intended purpose, the degree of profitability, etc.
The structure of them in the bank is movable and depends on the conjugation of the money market. This source of the formation of banking resources is inherent in some disadvantages. We are talking about the significant material and cash costs of the Bank when attracting funds into deposits, limited cash in the framework of a separate region. In addition, mobilization of funds in deposits (deposits) depends to a large extent of customers (depositors), and not from the bank itself. Nevertheless, the competitive struggle between banks in the credit resources market makes them take measures to develop services that contribute to attracting deposits. For these purposes, commercial banks are important to develop a deposit policy strategy based on the goals and objectives of the Commercial Bank, enshrined in its statute and from the need to preserve bank liquidity. Taking into account the selected main areas of deposit policy, the Bank it is advisable to develop a provision on deposit operations with the main types of contributions that need to be involved in their conditions (the interest rate level, the contributors category, deposit period), the procedure for attracting deposits, the official form of a loan agreement. Advocative development or acquisition by the Bank of the Program to improve deposit operations ("Deposit Day").
LITERATURE:
1. Antonov A.G., Passsel M.A. Cash circulation. Credit and banks. - M. Beck, 1995 -381 p.
2. Banking operations: Tutorial (edited by O. Lavrushkin. -M.: Infra -M, 1995 -505 p.)
3. Banking: textbook (under the reaction of O. Lavrushkina- M.: Finance and Statistics, 1998 -572 p.)
4. Banks and banking (edited by E.F. Zhukova - M.: Uniti, 1997 -471 p.)
5. Banking: Tutorial (edited by V.I. Kolesnikova, L.P. Tronotovka. 2nd editor. And add. - M.: St. Petersburg University of Economics and Finance, 1993-175 p.
6. Balabanov I.T. Finance of citizens: how to create and preserve wealth to the Russians. -M.: Finance and Statistics, 1995 -224 p.
7. Berezina M.P. Payment system of Russia and its reorganization // Finance -1998 -№3- with. 22-27.
7. Goncharov A. Russian issuers enter the civilized market // Business world. -1996 -№4 - C4.
9. Introduction to the banking. Tutorial (ed. Yu.B. Gubin -M.: Beck, 1997, 627 c).
10. Efremov I.A. Operations of commercial banks with securities. - M.: East - Service, 1995 -441 p.
11. Ershov M. Monetary - credit sphere and economic crisis (securities market. - 1999 - No. 22- with 20-23
12. Karatuyev A. G. Securities and their types and varieties. - M.: Russian business literature, 1998 - 256 p.
13. Kruglov M.O. On some trends of commercial loan (money and loan - 1997 -№3 - C58-64).
14. Kallerbaum E.S. On the question of the essence of the bank deposit (money and loan -1991-№ 4- C75-76.
15. Markova O.M., Sakharov L.S., Sidorov V.I. Commercial banks and their operations. Tutorials: Banks and Exchange, 1995 -228c.
16. The main directions in the Unified State Monetary Credit Policy in 1998 (Money Credit -1997 - №12 -C 105)
18. Prosecurin A.M. On the structure of banking capital and the evaluation of its effectiveness (money loan -1996 - №10 -С52)
19. Ore E. Banks, Exchange, Currency of Modern Capitalism - M.: Science, 1986 - 250c.
20. Saveliev M.V. How to produce Russian savings. (Russian economy. -1995 - №10 - C28-30).
THESIS
Commercial Bank Deposit Policy
(on the example of JSC "Bank Petrovsky")
Performed Student Groups 23 PB-61
absentee learning
Cordesova Elena Yurevna
Scientific leader: Ph.D.,
assistant professor I.G. Zaitseva
_____________________(signature)
Reviewer:
Head of Vyborg BC.
JSC "Bank Petrovsky" I.G.Barkovskaya
_____________________(signature)
St. Petersburg 2009
Introduction
Chapter 1 Theoretical Fundamentals of Commercial Bank Deposit Policy
1.2 Classification of deposit operations of commercial banks
1.3 Analysis of the Russian Deposit Services Market
Chapter 2 Deposit Policy of the Commercial Bank (on the example of OJSC "Bank Petrovsky")
2.1 Place OJSC "Bank Petrovsky" on the banking services market
2.2 Types of deposits of OJSC Bank Petrovsky
2.3 Analysis of the deposit portfolio of Petrovsky Bank OJSC "
2.4 Organization of the formation and implementation of deposit policy
Chapter 3 Improving Deposit Policy
3.1 Tools for improving the deposit policy of OJSC Bank Petrovsky
3.2 Deposit insurance system in the Russian Federation and its improvement
Conclusion
Bibliography
Attachment 1
Appendix 2.
Appendix 3.
Introduction
The specifics of the banking institution as one of the types of a commercial enterprise is that the overwhelming part of its resources is formed not at the expense of its own, but at the expense of borrowed funds. The possibilities of banks in attracting funds are not limitless and regulated by the Central Bank in any state.
The main part of the resources of banks is formed by attracted funds that cover up to 90% of the entire need for cash to carry out active banking operations. The commercial bank has the opportunity to attract funds of enterprises, organizations, institutions, publics and other banks in the form of deposits (deposits) and the opening of the relevant accounts.
Attrants attracted by banks are diverse in composition. The main types of their species are funds attracted by banks in the process of working with the clientele (deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates).
The declared topic of thesis is closely connected with the most acute in my opinion, at present the problem of the Russian banking system is the problem of bank liquidity.
Relevance The selected research topic is that an unstable situation in financial markets in the context of the current crisis, an increase in inflation, competition, and other factors - all this has a huge impact on the commercial bank. Therefore, a clear and thoughtful deposit policy allows the commercial bank to maintain its position and develop.
Purpose The development of proposals for improving the Commercial Bank's Deposit Policy in the system of strengthening its economic sustainability.
Based on this target installation, were the following tasks are delivered :
Consider theoretical foundations for the formation of a commercial bank deposit policy.
Analyze the deposit portfolio of Petrovsky Bank OJSC.
Consider the status and dynamics of attracting deposits;
To analyze the deposit policy of the Commercial Bank on the example of OJSC Bank Petrovsky.
Object research This appearance is OJSC Bank Petrovsky.
Subject The graduation work is attracted funds of individuals and legal entities and their placement through deposit operations and deposit policy in OJSC Bank Petrovsky
Practical significance This appearance is that it can be used as an additional material for a more detailed study of this topic.
Methodological basis Works are: method of synthesis, analysis, method of generalization, dialectical method.
Theoretical base The studies amounted to legislative acts of the Bank of Russia, including the Federal Law No. 177 of December 23, 2003 "On Insuranceing of Deposits of Individuals in Banks in the Russian Federation", educational literature, statistical collections, periodicals, reference and information systems.
Information Base The graduation work was given the data of quarterly reports and the internal provisions of Bank Petrovsky OJSC St. Petersburg.
This appearance has the following structure: Introduction, three chapters, conclusion, bibliographic list, applications.
Chapter 1. Theoretical foundations of the formation of deposit policy of commercial banks
In modern conditions, each commercial bank should develop their own deposit policy, that is, a practical management strategy. As you know, the attraction of cash resources and their subsequent placement are the main forms of the business bank.
Fund-based fund funds are used to invest in active tools. Passive operations, therefore, are primary in relation to most of banking operations aimed at receiving income. In this regard, the funds attracted should be considered as an independent policy object.
Thus, the management of attracted means is an important component of the Bank's business policy. However, issues related to the study of the theoretical foundations of this field of activity are not developed in the scientific literature. This is especially true of the concept of a commercial bank's deposit policy as a component of the liability management strategy.
To determine the essence of the Bank's deposit policy, it is impossible to approach unambiguously, as it varies depending on its subject. Deposit Policy is a strategy and tactics of a commercial bank to attract customer cash payments.
The bank's deposit policy should include:
Development of a strategy for the implementation of the Bank to attract funds into deposits based on a comprehensive market research, that is, the analysis of the environment, the place and role of the bank in the field of attracting funds, diagnosis and forecasting;
The formation of a commercial bank tactic on the development, proposal and promotion of new bank deposit products for customers (in the field of commodity, price, sales and communication policies);
Implementation of the developed strategy and tactics;
Monitoring the implementation of policies and its effectiveness;
Monitoring the activities of a commercial bank to attract funds.
The main document regulating in commercial banks to attract temporarily free funds of enterprises, organizations and the population to bank accounts in various kinds of deposits (contributions) is the Deposit Policy of the Bank. This document is developed by each bank independently based on the Bank's strategic plan, the analysis of the structure, state and dynamics of the Bank's resource base and on the basis of its development prospects. In addition, these documents are used that determine the main directions and conditions for the placement of raised funds, as the Bank's Credit Policy and the Bank Investment Policy.
The document "Deposit Policy of the Bank" should be determined by its strategy to attract funds for the fulfillment of the statutory requirements, goals and objectives defined by the memorandums on credit and investment policies with the guideline on maintaining the Bank of its liquidity and ensuring profitable work. Specifically, the Bank provides for:
Prospects for the growth of own funds of the bank (capital), and from here and the relationship between its own and attracted means;
Structure of attracted and borrowed funds (deposits, deposits, interbank loans, including loans of the Central Bank of the Russian Federation);
Preferred types of deposits and deposits, the timing of their involvement; the ratio between urgent deposits (deposits) and for "demand";
Main contingent on deposits and deposits, i.e., the category of depositors;
Geography of attracting and borrowing funds;
The desired banks are creditors on the IBC, the timing of attracting the latter; conditions for attracting deposits (contributions) and MBK;
Methods of attracting deposits (based on bank account agreements, correspondent account, bank deposit (deposit), by issuing their own certificates, bills);
The ratio between ruble and foreign exchange deposits (deposits);
New forms of attracting funds to deposits;
Special conditions for opening certain types of deposits (contributions);
Measures to comply with the risk standards of the Bank for attracted funds.
Deposit policy must first of all meet the following requirements:
- economic expediency;
- competitiveness;
- Internal consistency.
The classification of subjects and objects of the bank's deposit policy is generalized on (Fig. 1).
Figure 1 Composition of subjects and objects of bank deposit policy
The basis of the formation of the deposit policy of the commercial bank is both general and specific principles, which is clearly reflected on (Fig. 2).
Figure 2 - Principles of Deposit Policy Formation
The development and implementation of the bank's deposit policy in close relationships with each other is dealt with by a number of structural divisions of the bank (Treasury, Financial Management, Business Development Management, Credit Management, Securities Management), as well as the Bank Management Bodies: Board of the Bank and the Asset Management Committee and liabilities.
Fig. 3. Enlarged standard bank structure
Thus, the Board of the Bank determines and approves the main directions of deposit policy, approves the procedure and conditions for attracting deposits, provides general control over the implementation of deposit policies.
The Asset and Liability Management Committee makes fundamental decisions on the formation of a deposit portfolio, analyzes the structure and dynamics of resources, their conjugacy for timing and amounts of assets of the Bank in order to develop in the necessary cases of the decisions to adjust the bank's deposit policy; Carries out the current control over the implementation of the deposit policy with certain structural divisions of the Bank.
Financial Management of the Bank, together with the Treasury, determines the overall need of the Bank in deposit funds (per year, including by blocking through quarters): Sets the amount of interest rates for each type of resources (deposits (deposits), bill, IBK); determines the volume of reservation of raised funds in the Bank of Russia; He controls the compliance with the Bank's risk standards for attracted funds established by the Bank of Russia, etc.
Directly involving deposits in various forms are engaged in special departments of the bank: the Deposit Division of Citizens, the Securities Department (Issue of Own bills, deposit and savings certificates), a credit department or an assets and liabilities department (legal entities deposits) and other departments in accordance with the internal organizational structure Each Bank.
For practical activities to attract funds, banks are developing provisions on deposit (deposit) operations ( Separately on deposits of individuals and on deposits of legal entities), in which they negate:
Terms and conditions for receiving deposits (contributions);
Legal status of subjects of contractual relations;
The procedure for entering into a bank deposit agreement;
Methods for receiving and issuing a contribution (deposit);
The list of documentation necessary to open and use the contribution (deposit), and the requirements for them;
The rights of depositors and the obligation of the Bank;
Methods of accrual and interest payments on deposits (deposits).
Intrabank instructions on the procedure for performing specific deposit (contributable) operations, which are developed by the Bank in the development of investments on deposits (deposits), contain the organization of the branch (division) of the bank with various categories of depositors; The procedure for issuing documents corresponding to these operations, the scheme of their document management; Reflection in accounting operations for receiving and issuing deposits, accrual and pay interest on them.
The volumes of funds involved in deposits (contributions) are dependent on the state of demand and supply for monetary resources, deficit or excess funds from the bank, the state of the deposit market.
In order to attract funds of economic entities and citizens to their turnover, banks are developing and carrying out a whole range of events. So, first of all, an important means of competitive struggle between banks for attracting resources is the interest rate policy, because the amount of income on the invested funds serves as a significant stimulus to the clients of its temporarily free funds in deposits (deposits).
The level of interest rates on deposits (deposits) is established by each commercial bank independently with the orientation on the refinancing rate of the Bank of Russia and the state of the money market, as well as on the basis of the provisions of its own deposit policy. First of all, the interest rate level on the contribution (deposit) operations of banks depends on the type of deposits (deposits). As a rule, on demand deposits, the distinguished instability of the residue, great mobility and mobility, minimum interest rates are established.
In order to stimulate customers to maintain stable, non-declining balances on demand, which generally has a significant impact on the profitability of credit operations, banks establish increased interest on them or to the value of the balance not lower than the minimum, calculated by the Bank and coordinated with the client (which is negotiated in the bank account agreement).
When setting the amount of interest rates on urgent deposits (deposits), the determining factor is the period for which the means are placed: the more period, the higher the level of interest. An equally important factor is the deposit amount, and, therefore, the greater the amount of the contribution and the longer its storage period, the usually above the interest rate on it. The essential point is the frequency of income payment on deposits (deposits). The interest rate on the deposit is in the opposite dependence on the frequency of the income payment, that is, the less often they are carried out, the higher the level by the Bank by the Bank in the Deposit). It should be noted that paying interest banks at rates significantly exceeding the economically sound level is not illegal. In this case, the material benefit derived from the difference between the refinancing rate of the Central Bank of the Russian Federation and the credit organization rate on specific deposits should be entrusted with income tax.
Payment of interest on the deposit (deposit) can be made:
· once a month;
· Once a quarter;
· At the end of the contract.
In order to encourage attraction of customer funds to urgent accounts, the capitalization of interest may be provided for capitalization of deposits (deposits). It is possible if the Bank uses complex interest when calculating income.
The traditional view of the calculus of income is simple interest when the actual contribution residue is used as a base for calculation, and, based on the interest rate contract, the calculation and payment of income on the deposit occurs with the established periodicity. Another type of income calculation is complex interest (percentage accrual percentage). In this case, after the estimation of the estimated period, the percentage is accrued to the amount of the contribution, and the value obtained is attached to the amount of the deposit. Thus, in the next settlement period, the interest rate applies to the new amount of the contribution increased by the amount of income accrued earlier.
To attract funds into deposits, commercial banks began to widely use overseas experience, in particular they carry out:
· Development of various programs to attract the funds of the population;
· Providing customers with depositors of various kinds of services, including non-banking character (for example, elements of medical care; subscription to periodicals of economic literature; subscriptions for excursion services in museums, etc.);
· Use a high interest rate on investment deposits;
· The program "Bonus percentage".
In addition to the flexible interest policy, in order to attract funds, the banks must create depositors to ensure the reliability of the facilities in deposits. To ensure the protection of investors, depositors and providing them with guarantees of compensation of funds in the case of their bankruptcy, banks must create both in centralized and decentralized special deposit insurance funds.
Along with the insurance of deposits, imported importance for contributors has the availability of information on the activities of commercial banks and on those guarantees that they can give. Solving the question of posting his free funds, each lender must be fairly informed about the financial condition of the bank to assess the risk of future investments. In this, invaluable assistance to depositors and investors can have rating assessments of the activities of special agencies and bureaus.
At the same time, it should be noted that banks should provide comprehensive information about themselves (on the magnitude of the authorized capital, their own funds, on founders, development prospects, results, etc.) to its creditors and depositors. This is especially true of individuals who choose banks to make their funds. Therefore, in the premises of the bank (branch, branch, additional office), which makes deposits from citizens, should be presented to the depositors:
· The Bank of Russia's license that gives a specific bank the right to take contributions from individuals either in rubles or in rubles and in foreign currency;
· Audit conclusion on the annual report of the Bank;
· Bank balance at the last reporting date and profit and loss statement for publication for publication in the press;
· The position of the Bank on the deposits of individuals;
· List of contributions made by the Bank from Piz. persons;
· Conditions for each type of contributions;
· Information on the conditions for ensuring and guarantee deposits by the Bank;
· Forms of documents required for making contributions and performing operations on them;
· Board information of the bank (or other bank management) on changes in interest rates on certain types of deposits (indicating the causes and timing of changes to the conditions of deposits).
The work of credit institutions to attract creditors to their turnover is related to certain risks that they must take into account in their activities and be able to manage them in order to avoid negative consequences for liquidity and sustainability.
The Bank of Russia establishes for banks and controls the compliance with them of certain restrictions on the amount of fundraising. In accordance with the latest instructions of the Bank of Russia, the procedure for determining the values \u200b\u200bof the balances to demand accounts and urgent accounts of individuals and legal entities (with the exception of credit institutions) is established for their inclusion in the calculation (exception at the rate basis) instant (H2) standards (H3) and long-term liquidity (H4) of the Bank.
The proposed approach implements the method of assessing the risks of bank liquidity used in international practice, taking into account the so-called "behavioral" adjustments, that is, indicators characterizing the state of assets and liabilities based on accumulated statistical data.
The indication establishes that banks independently determine the feasibility of using the magnitudes of the minimum total residues to calculate liquidity standards.
It should be noted that not the entire amount of funds attracted by the Bank can act as resources to implement active operations. Part of the funds raised in the sizes established by the Board of Directors of the Bank of Russia are subject to compulsory deposit on a separate account in the Bank of Russia. The Bank of Russia forms a mandatory reserve fund of the country's credit and banking system. It can be used to provide credit assistance to commercial banks by the Bank of Russia in various versions, for settlements with depositors and creditors in the event of a bankruptcy of the credit institution.
By changing the norms of mandatory reserves, the Bank of Russia affects the credit policy of commercial banks, and, accordingly, on the state of the money supply in circulation. For example, a decrease in the norms of mandatory reservation of funds raised by banks allows them to more fully use formed resources in their turnover, i.e. Increase credit investments in the national economy, and vice versa. Mandatory reserves (reserve requirements) are a mechanism for regulating the total liquidity of the banking system used to control the monetary aggregates by reducing the money multiplier.
The obligation to fulfill the reserve requirements arises from a commercial bank from the date of receipt of the license of the Bank of Russia to the right to make the relevant banking operations.
The norms of mandatory reserves are established by the Bank of Russia for a certain period of time and can be periodically revised, but they cannot exceed 20% of the obligations of the credit institution. It should be noted that the standards of mandatory reserves can be differentiated depending on the time of attracting funds, their species (cash of legal or individuals), deposit currency (deposit). Usually the highest standard of redundancy is set to demand accounts, since the client may at any time withdraw its money from them.
Stages of the formation of a savings policy are presented in Figure 4.
Monitoring is a necessary tool for assessing and managing the quality of banking activities in the savings market. It is thanks to the monitoring to estimate the results of the Deposit Policy by the Bank, the Commercial Bank itself can and the supervisory authorities, which is extremely important when developing monetary policy and other market regulation tools, as well as to prevent crisis situations in the banking system related to the loss of client confidence in the financial Commercial institutions.
Next, consider the stages of the formation of the Deposit Policy of the Commercial Bank. It is very important to study the issues of formation and implementation of the mechanism of the Commercial Bank's deposit policy, since the effectiveness of its operation largely depends on the successful implementation of the goals and objectives that are put to the bank in the process of developing and carrying out deposit policies.
Figure 4 Stages of Formation of Savings Policy
Based on the analysis of the established practice of behavior, banks of deposit operations proposed a scheme for the formation of a commercial bank deposit policy, which is presented in Figure 5.
Figure 5 Scheme of the formation of a commercial bank deposit policy
Each of the stages of the formation of the Commercial Bank's Deposit Policy is closely related to the rest and is mandatory for the formation of an optimal deposit policy and the right organization of the deposit process. In this regard, the following areas of the Commercial Bank Deposit Policy can be distinguished:
Analysis of the deposit market;
Determination of target markets to minimize deposit risk;
Minimizing expenses in the process of attracting funds;
Optimization of deposit and credit portfolio management;
Maintaining the liquidity of the bank and increase its sustainability.
Analysis of the current practice shows that the formation of a deposit base of any commercial bank, both the process of complex and laborious, is associated with a large number of problems both subjective and objective nature.
Subjective issues include such as:
1) the scale of activity and the weak capital base of Russian commercial banks;
2) the lack of interest of the Bank's leadership in attracting customer funds, especially the population, which is dictated by the tactical and strategic goals and objectives of the Bank;
3) insufficient level and quality of higher and medium management;
4) the absence in most Russian banks of the scientifically based concept of deposit policies;
5) Disadvantages in the organization of the deposit process: the lack of an appropriate division in the bank, or a low level of marketing research of the deposit market, a limited spectrum of the proposed deposit services, etc.
Among objective factors are allocated as follows:
1) direct and indirect impact of the state and state bodies;
2) the effect of macroeconomics, the impact of global financial markets on the state of the Russian money market;
3) interbank competition;
4) the state of the monetary and financial market of Russia;
The role of the Central Bank of the Russian Federation as a regulatory body over the past few years has been particularly strongly manifested in the establishment of a refinancing rate and mandatory reservation standards for commercial banks. Changes in refinancing rates do not allow commercial banks to accurately predict and plan their activities in the field of assets and liabilities to the long term and make operations with long-term liabilities risky enough.
The negative impact on the structure of the resource base of the commercial bank has a growing dependence on major interbank loans, since the interbank loan does not contribute to the diversification of risks on deposit operations.
To solve existing problems in the development of deposit policies, a commercial bank must be guided by certain criteria for its optimization. Optimization of the Bank's Deposit Policy is a complex multifactoric task, which is the basis of which, the country's economy should be taken into account as a whole. Obviously, these interests do not always coincide. Therefore, the optimal deposit policy implies before the coordination of their interests.
So, the optimization criteria are as follows:
a) the relationship of deposit, credit and other bank operations to maintain its stability, reliability and financial sustainability;
b) diversification of the bank resources in order to minimize the risk;
c) segmentation of the deposit portfolio (by customers, products, risks);
d) a differentiated approach to various customer groups;
e) competitiveness of banking products and services;
e) the need for an effective combination of resources, ensuring the optimal combination of stable and "volatile" resources with an increase in the share of stable resources in the Commercial Bank deposit portfolio in the conditions of increased risks (including deposit operations);
g) Accounting for the concept of the life cycle in the process of forming the gamma of deposits and the deposit portfolio as a whole.
In order to improve the Deposit Policy of the Commercial Bank, the following is necessary:
Each commercial bank must have its own deposit policy developed taking into account the specifics of its activities and the criteria for optimizing this process;
It is necessary to expand the circle of deposit accounts of legal entities and individuals for a demand for demand, which will even in the face of minor financial accumulations, the field to meet the needs of the Bank's customers and increase the interest of investors in placing their funds in bank accounts;
As one of the directions of improving the organization of deposit operations, it is possible to use various types of accounts for all categories of depositors and improving the quality of their maintenance;
An individual approach (the Bank's desire to provide special benefits to the client).
These are some possible ways to improve the commercial bank's deposit policy and enhance the role in ensuring its sustainability.
The relationship between the savings and deposit policy of the Commercial Bank is as follows: on the one hand, the main directions of deposit policy are elements of the formation of the Bank's savings activities (for example, the range of deposits, interest policy, product promotion, organization of the work of the relevant division of the commercial bank). On the other hand, to call the deposit policy by an integral element of the bank's savings policy. The bank's deposit policy is a broader concept that includes other resource-based resource strategies and tactics, the organization and management of the deposit process.
In general, deposit policies each commercial bank develops himself. Also, the leadership of the bank independently determines the degree of importance of these directions, the primaryness of a particular type of policy of the Bank. First of all, it will depend on the field of functioning of a particular bank, its specialization and universalization.
1.2 Classification of deposits of commercial banks
Passive operations of a commercial bank characterize sources of funds and nature of bank relations. It is they who pretty much predetermine the conditions, forms and directions of the use of banking resources, i.e. The composition and structure of active operations.
Deposit (Deposit) OperationsMatch - these are operations to attract funds for legal entities and individuals into deposits for a certain period, or to demand, incl. Research balances on customer accounts for use as credit resources and investment activities. Contribution ( deposit ) - These are cash (in cash and cashless form, in national or foreign currency), transferred to the bank by their owner for storing under certain conditions.
Deposit operations - a broad concept, since they include all the activities of the Bank associated with the involvement of funds in deposits. A feature of this group of passive operations is that the Bank has a relatively weak control over the amount of such operations, since the initiative in the placement of funds in deposits comes from depositors. At the same time, as practice shows, the depositor is interested in not only the interest paid by the Bank, but also the reliability of the preservation of trusted bank funds.
The organization of deposit operations should be carried out under the observance of a number of principles:
- receiving the current profit and the creation of conditions for its receipt in the future;
- Flexible policy when managing deposit operations to maintain the Bank's operational liquidity;
- consistency between deposit policies and yield of assets;
- Development of banking services in order to attract customers.
Consider detailed deposit accounts and their characteristics.
Deposit accounts can be the most diverse and the basis for their classification is given such criteria as sources of deposits (free cash organizations, accumulation of individuals, pensions), their purpose (obtaining income on urgent deposits at the end of their action, monthly income in the form of a percentage from the amount of the deposit), the degree of profitability (depends on the amount, term and additional conditions of the deposit), etc.
However, most often as a criterion is the Category of the Depositor and the form of seizure of the contribution. Deposit operations are classified:
- Deposits of legal entities (enterprises, organizations);
- Deposits of individuals.
- Deposits of other banks.
2) Economic Content:
- in order to use stored funds. Those. Obtaining income in the form of interest on the funds raised into a deposit monthly, quarterly, at the end of the term of the contract.
3) in the form of dissemination of funds:
- urgent deposits;
- demand deposits;
- Savings deposits of the population
- Conditional deposits to be seized upon the occurrence of pre-agreed conditions.
The classification of deposits in the form of seizures in more detail can be submitted schematically in Figure 6.
In the practice of Western banks, deposits as possible their withdrawals are divided into the following categories:
- "Hot Money", which can be easily withdrawn (for example, deposits that are sensitive to changes in interest rates, which is caused by economic instability, inflation, sharp fluctuations in exchange rates). Hot money is cash, whose owners urgently move them from one bank to another in order to gain higher profits. As a result, the migration of capital occurs.
- Unreliable, which can be removed within 25-30% of their size. Unreliable include deposits with early repayment;
- Stable funds (main deposits), the probability of the withdrawal of which is minimal. These include urgent deposits without early repayment.
However, let us return to Russian banks and consider the classification of deposits presented in Figure 6.
Figure 6 Classification of deposits (according to O.I. Lavrushina)
Let's start with deposits to demand, as they occupy the greatest specific weight in the structure of attracted banks of banks about - 50%.
So, demand deposits are funds that can be in demand at any time without prior notice to the Bank by the Client. These include funds on current, settlement and correspondent accounts related to making calculations or targeted use of funds. According to such accounts, there is a constant cash flow (enrollment and write-off). Due to the high mobility of funds, the balance on demand accounts is not constant, sometimes extremely changed. However, despite the high mobility of funds to demand, it is possible to determine their minimum, non-decreasing residue and use it as a stable credit resource.
The calculation of the share of funds stored in demand accounts, which can be translated into urgent deposit accounts (in order to increase the customers of income from the funds placed in the Bank and the formation of a stable lending resource for banks) is made by the formula:
D \u003d Ore: to about. x 100%
where D is the share of means stored during the year on various current accounts that can be translated into deposit accounts.
OSR - the average balance of funds on the estimated or current account for the year.
To about. - Credit turnover on the calculated or current account for the year.
To expand active operations and receiving a bank profit in the best way in terms of liabilities is the growth and diversification of the main types of deposits, which include demand deposits and urgent deposits. Using deposits to demand, the task of obtaining profits by the Bank is decided, since they are the cheapest resource, and the costs of servicing the calculated and current account accounts are minimal.
The contributions to demand is basically unstable, which limits the scope of their use by commercial banks. For this reason, the owners of deposit accounts pays a low percentage (in demand before the demand for an individual, currently 0.01%) or it is not paid at all (for example, on the calculated and current accounts of legal entities, as well as on the correspondent account of commercial banks) . In conditions of increased competition to attract deposits, commercial banks seek to attract customers and stimulate the increase in demand deposits by providing additional services to account holders, as well as improving their quality of service.
Interest on demand deposits are credited to the depositor, as a rule, once a year at the beginning of a new calendar year.
Demand deposits are most liquid. Their owners may at any time use money on demand accounts. Money on this score is entered or credited, as well as removed or debited by both parts and completely without restrictions, and cash money from this account is also allowed. The advantage of demand deposit accounts for their owners is their high liquidity, and for banks, establishing a low interest rate or its absence. The main deficiencies of demand deposits for their owners is to establish a low interest rate on a row, and for the bank - the need to have a higher operational reserve. Thus, the peculiarities of the deposit account of the demand can be described as follows:
- Contribution and removal of money is carried out at any time and in any amount without any restrictions;
- the owner of the account pays the Bank to the Commission for using an account in the form of a solid monthly rate (for legal entities);
- A bank for storing funds on demand accounts pays low interest rates (for individuals) or does not pay (for legal entities), which increases the bank's profits.
Urgent deposits are usually classified depending on their term: deposits with a period of up to 3 months; from 3 to 6 months; from 6 to 9 months; from 9 to 12 months; Over 12 months.
The advantage of urgent deposit accounts for the client is to establish a higher interest rate compared to demand deposit, and for the bank - the ability to maintain liquidity with a smaller operational reserve. The lack of urgent deposit accounts for customers is low liquidity. For the Bank, the disadvantage is the need for payments of increased interest on deposits and decline, therefore, profits.
There are two forms of term deposits:
- urgent contribution with a fixed period;
- urgent contribution with a preliminary notification of withdrawal.
Actually, urgent deposits imply the transfer of funds to the Bank of the Bank for the term and conditions under the contract, and after this period expires, the urgent contribution may be removed by the owner at any time. The amount of remuneration paid to the client on an urgent contribution depends on the term, the amount of the deposit and the depository of the contract conditions. The longer time and (or) more deposit, as a rule, more than the amount of remuneration. Such a detailed gradation stimulates investors to the rational organization of own funds and their premises into deposits, and also creates the conditions for managing their liquidity. For example, in Petrovsky Bank OJSC, the income frequency ranges from 1 month to the date of payment of the entire contribution in general.
Deposits with a preliminary notification of dissemination of funds mean that the seduction of the Deposit should notify the Bank in advance to a certain term of the Treaty. Depending on the notification period, the interest rate on deposits is determined.
If the contributor wants to change the amount of the contribution - to reduce or increase, then it may terminate the current contract, remove and reorganize its contribution to the new conditions. However, with the early seizure of the depository of funds in the deposit, it can lose the interest provided by the percentage agreement partially or completely. As a rule, in these cases, interest is reduced to the amount of interest paid on demand deposits. Currently, the demand rate is 0.15%. Many commercial banks apply prolongation of deposits to several times (1-3 or more). When the current deposit is proloned, in the event of a change in interest rate, the newly established interest rate is applied.
Through the attraction of urgent deposits, the task of ensuring the liquidity of the Bank's balance is solved.
The most important tools of the deposit policy of commercial banks are deposit and savings certificates. In the Russian Federation, certificate appeal occurs on a legislative basis.
The certificate is a written commitment to the issuer's bank on the contribution of funds certifying the law of the depositor or its right of the receiver to receive the amount of deposit and interest on it after the established period. Deposit and savings certificates are a type of profitable securities, so they cannot serve as a settlement or payment facility for sold goods or services rendered. There are also restrictions on the transmission of them from one owner to another. The form of the registered certificate must take place for gearing inscriptions.
Certificates manufactured by the Bank should be manufactured by a typographical way, to meet the requirements for this kind of securities.
Commercial banks have the right to start issuing certificates only after approval of the conditions for their issuance and appeal by the main territorial departments of the Central Bank of the Russian Federation. Conditions must contain full procedure for issuing and handling certificates, a description of the appearance and sample certificate. The certificate must contain the following mandatory details: the name "deposit" (or "savings") certificate; the reason for issuing a certificate (deposit or savings deposit); date of application, amount (in words and figures); unconditional obligation of the bank to return the amount made on the deposit or contributed; Relative date of the amount of the certificate; interest rates and the amount of interest due; Name and address of the issuer's bank; for a personal certificate - the owner; Signatures of two persons authorized to sign this kind of obligations bonded by the Bank's seal.
In addition to dividing certificates for deposit and savings, depending on the category of depositors, certificates can be classified according to other features:
1) By the method of release:
- produced in one-time, i.e. A certificate of a specific number and nominal is released once;
- manufactured by series, i.e. A batch of certificates, one series and one nominal, but under different numbers
2) by the process of registration:
Registered - by concluding an agreement on assignment of the right of claim (cession);
- on bearer - transferred to a new owner by simply delivery.
Cash payments on the purchase - sale of deposit certificates and payments on them are carried out only in non-cash.
The certificate is not subject to export to the territory of the state that does not use the ruble as an official monetary unit. The right of the claim for a depository certificate can be transferred only to legal entities registered in the territory of the Russian Federation or another state that uses the ruble as an official monetary unit.
Certificates should be urgent. In the event that the term of receipt of the deposit or certificate contribution is overdue, then such a certificate is considered to be a demand document for which the Bank is committed to paying the contribution to the first requirement of the owner (beneficiary). The bank may provide for early presentation of an urgent certificate. At the same time, the Bank pays the owner of such a certificate amount of the certificate and the percentage at a reduced rate installed by the Bank when issuing a certificate. Interest on certificates are established when issuing and indicated on the blanks in percentage and money. At the same time, interest payments due to the owner after the certificate expiration do not depend on the acquisition time. You can only get a certificate in the commercial bank in which it was issued or in any of its branch.
The certificate form must contain all the terms of the issue, payment and appeal of the certificate (conditions and order of assignment of rights, the certificate requirement. If a certificate has been operated, not provided for by the conditions contained on his letterhead, such an operation is considered invalid. Production of deposit forms and Savings certificates, both nominal and bearer, are made only by printing enterprises that have a license to issue securities. The bank independently develops the conditions for the issue and appeal certificate.
Conditions for the issuance and appeal of certificates, a description of the appearance and sample certificate are approved by the Board of the Bank - Issuer and are sent in 3 copies on examination to the main territorial management of the CBD at the location of the correspondent account, which gives conclusion about the bank's compliance - the issuer of existing certificate issuance rules And in the absence of violations, one instance of the conditions is sent to the management of the CBR securities. Certificates, being securities, are not subject to registration and does not require a special decision on their issuance from the CRH. At the same time, the territorial management may prohibit the issuance of certificates, as well as recognize invalid released on the following reasons:
The terms of the issue contradict the current legislation or rules of the CBD;
Bank - the issuer timely did not provide the conditions for the issue to the main territorial management of the CBD;
The Bank violates the current legislation and rules of the CBD on the process of issuing and handling a certificate.
The certificate owner can give way to the right of the certificate requirements to another person. For a presenter certificate, this concession is carried out by a simple delivery, the name is drawn up on the reverse side of the certificate by a bilateral agreement (CESSIYA). At the occurrence of demand, the owner of the certificate must submit it to the bank together with a statement containing an indication of the method of repaying the certificate.
For the purpose of accounting sold certificates, commercial banks lead special registration journals or provide for a certificate issuance with special starting roots containing the same registration details.
Certificates are issued in terms of 1 month to 3 years, and in the amount of deposit certificates - from 5 thousand to 10 million rubles, savings certificates from 1,000 and more than 1 million rubles. Interest rates depend on the size and term of the deposit, some banks carry out indexation and monthly income payment.
Consider the features of deposit certificates. Depositserts can only be transferred from a legal entity to legal entities. A deposit certificate can only be issued by an organization that is a legal entity registered in the territory of the Russian Federation or on the territory of another state that uses the ruble as an official monetary unit. The deposit certificate has two advantages. First, he, unlike other tools of deposit policy, is the subject of exchange game, and, therefore, its owner can count on extraction of additional profits as a result of a favorable change in market opportunities. Secondly, in the case of the government of intentions to freeze enterprises' deposits, the acquisition of a certificate having free walking in the market will give them owners some freedom of maneuver. In this situation, the certificate becomes an alternative means of payment.
The term of appeal to deposit certificates (from the date of issue to the date, when the certificate owner receives the right to demand the deposit or certificate contribution) is limited to one year.
In international practice, having received interest deposit certificates, discount, i.e. Sold down the price lower than the nominal and certificates with a "floating" rate. The validity period of the last certificate is from 3 to 5 years and the interest rate is determined every 6 months for the next six months. Deposit Certificates can be bought at any time during the period of their action - interest is charged from the date of acquisition.
Some commercial banks issue deposit certificates transmitted (or indescribable) to other empowerment owners with dignity from 500 thousand rubles to 10 million rubles. For a period of up to a year, calculated on large investors. Transmitted deposit certificates are usually sold to government agencies, pension funds, corporations. They bring an income exceeding the interest rate on short-term treasury bills of less long-term (three-month and other) and can contact the secondary securities market.
Consider the features of savings certificates. A savings certificate can move from an individual to physical. A savings certificate can be issued only to a citizen of the Russian Federation or another state that uses the ruble as an official monetary unit. The right demand for a savings certificate is transferred only to citizens of the Russian Federation or other state that uses the ruble as an official payment unit.
Commercial banks in order not to lose, most, a stable source of credit resources are forced in conditions of inflation to indexing the savings certificates by increasing the interest rate, which is an incentive for the population when buying.
Certificates have significant advantages over urgent deposits issued by simple deposit treaties: thanks to more possible financial intermediaries in distributing and handling certificates, a circle of potential investors is expanded; Thanks to the secondary market, the certificate may be early sold by the owner to another person to obtain some income during the storage time and without changing the volume of bank resources, while the early seizure of the owner of the urgent contribution means for him a loss of income, and for the bank a loss of resources .
The disadvantages of certificates are: increased bank costs associated with certificate emissions, as well as the fact that income on them is the object of taxation, in contrast to demand bills and term deposits. The latter feature is taken into account by banks, so interest on certificates is usually higher than interest on urgent deposits with similar deadlines and sum.
So, making the conclusion from the theoretical material setlined, it can be said that for commercial banks deposits - the main and at the same time the most profitable type of resources. The increase in the share of this element in the resource base allows you to place a greater amount of funds raised, thereby increasing the liquidity of the bank.
The exacerbation of competition between banks and other financial structures for the contributions of individuals and legal entities led to the emergence of a huge variety of deposits, prices for them and maintenance methods. According to some foreign specialists, in developed countries, there are currently more than 30 types of bank deposits. At the same time, each of them has its own characteristics, which allows customers to choose the most adequate interests and the possible form of money savings and pay for goods and services.
From above, it can be seen that deposits among the banks raised funds are an important source of resources. However, such a source of the formation of bank resources as deposits are also inherent in some drawbacks. It is primarily about the significant material and cash costs of the Bank when attracting funds into deposits, limited cash within the framework of a separate region. Nevertheless, the competitive struggle between banks in the credit resource market makes them take measures to develop services that contribute to attracting deposits.
1.3 Analysis of the Russian Deposit Services Market
The process of forming a deposit policy is closely interrelated with the Bank of the Interest Policy, as the Deposit Percentage is an effective tool in the field of resource attracting. In the days of state regulation, the limits of the percentage of the percentage were established in accordance with the urgency of the contribution. Currently, banks can independently establish competitive interest rates, focusing on the accounting rate of the Central Bank of the Russian Federation (from September 30, 2009, 10.00%), as well as the state of the money market and on the basis of its own deposit policy.
The peculiarity of the population deposit market is the essential influence of interest rates on the formation of demand for deposits - that is, by banks, interest on deposits largely determines the growth rates of their resource base. Moreover, for different groups of banks, this effect is manifested in varying degrees. Such heterogeneity of the market is able to lead to a significant redistribution of market share between banks, which may be accompanied by the emergence of new major players. Let's try to figure out these processes.
Analysis of the cost of banking resources suggests that Russian credit organizations actively use the factors of manipulating interest rates in their deposit policy to ensure the influx of new depositors. Of course, the level of interest rates is not the only factor that determines the fluctuations in the deposit base, but from a practical point of view, the task of determining the influence of the cost of deposits on the oscillation of the client base "with other equal terms" is very relevant.
An increase in deposit rates leads to an increase in the growth rates of the general deposit base of the bank. For example, if in 2006 the average level of interest rates in commercial banks was about 10% (at the same time there was an increase in bank deposits with rates equivalent to 40% per annum), the deviation of rates of attracting banks up to 11% on average ensured them an increase in the growth rates of deposits to 50 %.
The dynamics of the attracted contributions of the population in the banking system, starting from 2006 to the second half of 2008, had a positive trend. This was due to the growth of income of the population and increasing the level of confidence in the banking system (Figure 8). Currently, the growth of the rates of attracted funds slowed down, which is associated with the financial crisis. The highest rates in the market of bank deposits of individuals demonstrate credit organizations from the "Other" group. These averages of banks are most active in attracting new customers, with the main argument accessible to them when attracting new depositors become the amount of interest payments (the reliability of these credit institutions is still not able to significantly affect their deposit policies).
Figure 8. Dynamics of population deposits for the period (2006-2008).
The contribution insurance system that appeared in Russia, in addition to the obvious advantages, is capable of bringing certain dangers - in the presentation of the population, there is gradual smoothing in the risks of various banks that differ in real levels of financial stability. As a result, it is for these banks that the price factor is the main tool in the competitive struggle. It is not by chance that in this group of banks demand for deposits is most sensitive to changes in interest rates. And it is precisely that the greatest growth rates of deposits of the population in this group of banks are explained.
Slightly exceed the levels of the cost of deposits in commercial banks the cost of relevant resources in the group of the largest Russian private banks. This group initially used the population to be more high (compared to banks from the "junior" groups) confidence, which allowed them a long time to ensure the moderate cost of attracting deposits. However, recently, the competitive advantages of this group of banks are falling in the eyes of the population, which, on the one hand, is explained by the emergence of the deposit insurance system, and on the other hand, the experience of the 2004 banking crisis, when the several largest Russian banks turned out to be on the verge of solvency loss. As a result, the status of large banks is gradually leveling towards smaller credit institutions. And, as a result, the price factor, as well as for banks from the "Other" group, plays a significant role here - sensitivity to changes in interest rates. At the same time, high sensitivity in combination with sufficiently high rates does not guarantee them the same growth rate of the deposit base. This is explained by the special "disloyment" of their clientele, which, reasonably without seeing special differences in risks, preferred to translate deposits into smaller credit organizations offering obviously higher percentages.
The cost of a group of banks involving foreign capital is most distinguished. Their deposit policy is based on high credit ratings of maternal structures unattainable for Russian commercial banks. This factor allows banks involving foreign capital to raise the funds of the population at low rates. At the same time, since the spring of 2005, a group of banks with the participation of foreign capital remains the only category of banks that consistently increasing the cost of deposits. It seems that this effect is explained by two factors.
First, initially the main clientele of banks with the participation of foreign capital were secured segments of the population, validation in deposits of banks reliability and ready to put up with underestimated interest rates. However, a small group of depositors today can no longer ensure a significant increase in the volume of attraction. So, banks are forced to pay attention to other potential depositors who are more oriented to receive interest income. The benefit that current low levels of deposit rates of banks involving foreign capital make it possible to increase them without a significant reduction in the bank margin.
Secondly, the rise in the cost of borrowing in foreign markets has recently made the Russian market of deposits for banks with the participation of foreign capital really interesting, and they are ready to actively fight for the place on it, especially in the context of the current financial crisis.
If recently the sensitivity of the growth rate of deposits for banks with the participation of foreign capital to the cost of deposits was actually absent, then you can also state their willingness to attract new depositors.
If you see the dynamics of currency and ruble deposits, it can be seen that over the past five years, the growth rates of deposits of individuals in rubles almost constantly averaged the growth rate of currency deposits, which was caused by the fall in the population of the dollar.
Figure 9 Ruble and currency deposit growth rates
As of July 1, 2008, foreign currency deposits were 13.6% in the total volume of deposits. Today, according to the Bank of Russia, the volume of currency deposits is about 30% of the total volume.
Speaking of interest rates, it is necessary to note the following: on certain types of deposit accounts, the amount of revenues is determined by the term of the contribution, the amount, the specifics of the functioning of the account, the volume and nature of the associated services and depends on the compliance of the deposit conditions by the Client.
The deposit rates system should be focused on the market conjuncture with an indispensable accounting of the emerging hierarchy of the reliability of comparable tools. So, the bank holding rates at a lower level than the competitors close to him in the degree of reliability, risks to lose part of his clientele.
Accrual by the Bank of interest on deposits is the main part of operating expenses. Therefore, the Bank, on the one hand, is not interested in a high level of interest rate, and on the other, it is forced to support such a level of interest rate on deposits, which would be attractive to customers. Trying to attract deposits, especially large-size and for a long time, commercial banks offer customers high interest rates, despite the increase in interest expenses. However, the attraction of funds of the population by banks is not impossible. As of January 1, 2009. The average interest rate on attracted funds is 12% per annum (from the statistical data of the Central Bank). If you trace the dynamics of% of rates in the commercial banks of North-West over the past 3 years, we can conclude that the average interest rate on deposits increased by approximately + - (3-4)%. Interest rates on deposits were especially noticeably changed in the crisis that established in the world. Only for the 1st quarter of 2009, they increased approximately (3-5)% in almost all commercial banks.
Chapter 2 Deposit Policy of the Commercial Bank (on the example of OJSC "Bank Petrovsky")
2.1 Place OJSC "Bank Petrovsky" on the banking services market
Before analyzing a specific direction of activity of any entity of the economy, it is necessary to give it a brief description.
Bank "Petrovsky" was registered by the Central RSFSR Bank on November 12, 1990. In 1991, the 5 first branches in St. Petersburg began work, as well as the first non-resident office.
In 1992, an agreement on cooperation was signed between the Bank and the Office of the Federal Postal Service. Already next year, together with the UFPS and the Department of the Pension Fund of the Russian Federation in St. Petersburg, Petrovsky began the introduction of technology to pay pensions from current pension accounts on the post office of the city. In 1997, Petrovsky began to introduce his retirement technology in the Leningrad region.
In 1997, the Bank received the status of an authorized bank of the Government of the Russian Federation category "C", as well as an authorized bank of the Government of the Leningrad Region.
In 2000, the Bank's leadership decided to renaming the Bank at Petrovsky People's Bank OJSC.
In 2002, in connection with the change of shareholders of the Bank, Petrovsky People's Bank was renamed MDM-Bank St. Petersburg.
In May 2006, the Bank's controlling stake was acquired by an Eastern European financial corporation. In accordance with the decision of the General Meeting of Shareholders of the Bank, the new name of the Bank was approved: the Bank's Open Joint-Stock Company "Bank of the Eastern European Finance Corporation" (abbreviated name - JSC "Bank VEFC").
On October 29, 2008, the Agency for Insurance Deposit (DCA), based on the requirements of the Federal Law "On Additional Measures to Strengthen the Stability of the Banking System in the period up to December 31, 2011", assumed the functions of the Interim Administration for the Bank of the VEFC Bank. In February 2009, agreements were achieved on the participation of NOMOS-Bank and FC Opening as co-investors in the capital of the VEFC Bank.
As part of the implementation of measures to financial rehabilitation of the Bank, investors in the face of Nomos Bank and the Financial Corporation "Opening" bought at 25% of the additional issue of shares of the VEFC Bank. The remaining 50% of the additional emission acquired the QU.
In September 2009, the Bank returned the initial name - Petrovsky Bank.
OJSC "Bank Petrovsky" provides a wide range of services for both legal and individuals. For individuals, the Bank offers services such as deposits in rubles and foreign currency, money transfers, payback of pensions, transfers from ruble and currency accounts, sein, operations with cash currency, opening and maintenance of plastic cards. Enough and list of services for organizations. We call those of them that enjoy the greatest popularity: lending, opening and maintaining ruble and currency accounts, salary projects.
The priority activity of OJSC Bank Petrovsky is to work with the population in the field of attraction of deposits. Depositors of OJSC Bank Petrovsky can choose the most convenient scheme for preserving and multiplying their savings. The bank offers customers a flexible system of deposit deposit in rubles and currency for a period of 1 month to 3 years; Different types of deposits allowing you to choose a contribution that meets the customer requests. OJSC "Bank Petrovsky" produces its own international plastic cards of Visa InternationalMaster Card International . OJSC "Bank Petrovsky" has an extensive correspondent network consisting of large banks in Russia and the CIS. OJSC "Bank Petrovsky" is widely branched (second after Sberbank in magnitude) a branch network - 170 branches in St. Petersburg and branches in the cities of Russia. Focused work on improving banking services and the expansion of their spectrum was the basis for a significant increase in the number of clients of Petrovsky Bank OJSC.
At the end of April 2009, the change of shareholders and top management of the VEFC Bank, as well as the Bank's credit institution with state participation in capital, had a positive impact on the bank's attitude to the Bank by private individuals. For the past quarter of Petrovsky Bank OJSC reversal the tendency to reduce the main indicators characterizing the volume of operations to maintain individuals observed in the previous period. So, the volume of attracted funds of individuals increased by 10.3% - from 17.4 billion to 19.2 billion rubles, which can be seen Figure 10. At the same time, the amount of term deposits increased by 6.6%, the balances on pension accounts in additional offices of the bank - by 15.5%, balances on bank card accounts - by 14.1%.
Figure 10 Dynamics of deposits of individuals for the period from 10.08-09.2009
The average monthly income of the bank for operations with individuals (remittances, utilities, sein, etc.) has increased significantly. If, for comparison, in February-March S.G. They averaged 7.5 million rubles, then in June, the Bank's revenues increased to 8.3 million, in July - up to 8.6 million.
The number of remittances carried out by the Bank, which, for example, in the spring of this year, 15-16 thousand units per week, currently reached a mark of 20 thousand.
Separately, I would like to mention the serious increase in balances in the accounts of pensioners who receive a pension directly in the offices of OJSC Bank Petrovsky. As you know, pensioners receiving pension in the bank can be served both in postal offices and additional offices of the bank. At the same time, the list of services provided by this category of clients in Popularities is wider than in branches of communication. This fact finds understanding and at the pensioners themselves, as of July 2009, about 1.2 million pensioners are serviced in the bank. The remains in the accounts of pensioners for the first half of the year increased by 1 billion rubles (53%).
Speaking of legal entities, it should be noted that since May 2009, the balances in the accounts increased by 20% - up to 7.5 billion rubles. If at the beginning of the year corporate clients in OJSC Bank Petrovsky on average, about 150 bills opened on average, then at the end of September 2009, 250-270 new bills open a week. The general number of Jurlitz accounts is now 67 thousand units.
According to the journal "Expert", OJSC Bank Petrovsky occupies 41th place in the ranking of the 100 largest banks in Russia in 2008 as of 01.01.2009. The Bank is among the 30 banks - leaders in attracting deposits of individuals following the results of 2008 at number 26
2.2 Types of deposits of OJSC Bank Petrovsky
Deposits of the population are important in the resource base of OJSC Bank Petrovsky. So on 01.09.2009, deposits of the population amounted to 80.0% of the total amount of resources. This is quite natural, since Petrovsky constantly pays special attention to the contributions of the population.
Consider applicable as of 01.09.2009. Types of deposits and conditions on them. They can be divided into three basic groups: urgent deposits, pension and demand deposits.
Table No. 1 Types of deposits as of 01.10.2009
| Types of deposits | Deposit term, prolongation | The sum of the initial contribution and additional visions | Note | Annual% |
| Poste restante | any | At least 10 rubles. Extra. Contributions are not limited | 0,15 | |
| Autumn |
over 1 year to 3 years |
From 1000 rubles From 100 dollars From 100 euros |
4.35-14.70 | |
| Autumn-pension |
over 1 year to 3 years |
From 1000 rubles From 100 dollars From 100 euros |
Extra. Contributions \\ Payments Capitalization, prolongation are not prevailing | 4.55-14.90 |
| Petrovsky-Classic |
over 1 year to 3 years |
From 1000 rubles From 100 dollars From 100 euros. |
4.10-14.70 | |
| Petrovsky-classic with monthly payment% |
over 1 year to 3 years |
From 1000 rubles From 100 dollars From 100 euros |
Extra. Contributions \\ payments are not prevailing. Payment% monthly |
3.10-13.70 |
| Petrovsky-accumulative |
over 1 year to 3 years |
From 1000 rubles From 300 dollars From 300 euros Contributions from 500 rubles, 50 dollars, euro |
Extra. Payments Capitalization are not prevailing | 5.10-13.70 |
| Petrovsky-complex percentage |
over 1 year to 3 years |
From 1000 rubles From 100 dollars From 100 euros |
Extra. Contributions \\ Payments are not prevailing | 3.60-14.20 |
| Petrovsky-multi-currency |
over 1 year to 3 years |
From 30000 rubles From 1000 dollars From 1000 euros Contributions are not limited |
Extra. Payments Capitalization, prolongation are not prevailing | 6.35-13.70 |
| Petrovsky-Universal |
over 1 year to 3 years |
From 10,000 rubles From 300 dollars From 300 euros Contributions from 1000 rubles, 50 dollars, euro |
capitalization is not prevailed | 4.60-13.95 |
| Petrovsky-Vip. |
over 1 year to 3 years |
From 300,000 rubles From 10,000 dollars From 10,000 euros |
Extra. Contributions \\ Payments Capitalization are not prevailing | 5.55-15.20 |
| Pension-cumulative deposit | 2 years |
Contributions are not limited |
Prolongation is not provided | 12.50 |
| Current pensioner account | any | 5-7 |
From the data of Table No. 1, it is clear that the most expensive deposits for individuals of individuals are deposits of autumn-pension, autumn, Petrovsky-Classic and Petrovsky-VIP. This is due to the conditions of these types of contributions, namely the lack of monthly capitalization of interest, or the large amount of the deposit, as, for example, in Petrovsky-VIP.
It can be seen that contributions aimed at pensioners are in a special place in the line of deposits. Thus, it can be concluded that OJSC Bank Petrovsky offers a wide selection of contributions that are aimed at various market segments. At the same time, special attention is paid to the pensioners for which the line of deposits is provided, which allows to take into account their interests. Special allocation of contributions for pensioners is due to the fact that it is they who are an important segment of investors for Bank Petrovsky.
If you consider additional conditions on deposits given for each contribution separately in Appendix No. 1, you can trace the following trend in the use of such a criterion as prolongation. If the deposit prolongation is present in the terms of the contract, then a significantly lower interest rate is observed than the deposits without prolongation.
Analyzing the deposits (deposits) of Bank Petrovsky OJSC, you can pay attention to the following:
installing interest rates, the bank always binds deposits (deposits) by investment. For example, the interest rate of the contribution of "to demand" is 0.15%, and the interest rate of the contribution of the Pension Cumulative Deposit for 2 years is 12.5%;
the deposit amount is also tied to the amount of interest rate. So, for example, the contribution of Petrovsky-cumulative for 1 year and 1 day) the amount from 1 to 700 tr. Accepted under 13.25% per annum, and the same contributions amount from 700 tr. and higher under 13.70%;
interest rate on ruble deposits is not lower than the level of inflation, which saves deposit deposits;
based on the fact that income in the form of interest received by taxpayers on deposits in banks are not subject to taxation.
interest on ruble deposits are paid within the amounts calculated on the basis of the current refinancing rate of the Bank of Russia (10%), increased by five percentage points. ,
the established rate does not exceed 9 percent of annual deposits in foreign currency;
it can be noted that all proposed contributions are not subject to taxation (the exception is Petrovsky - VIP).
For legal entities, Bank Petrovsky OJSC offers clients various options for posting temporarily free funds for various dates:
· Urgent deposits in Russian rubles and foreign currency;
· Own bill of bank "Petrovsky" in Russian rubles and foreign currency.
The Bank offers legal entities Financial Medium-term tools - a bank deposit.
The deposit agreement certifies the amount of the deposit made to the Bank, and the rights of the depositor to receive, after the established period, the amount of the deposit and the percentage of interest in the contract. The payment of interest on the deposit is carried out monthly or at the same time after the expiration of the contract. A fixed interest rate is established for the entire deposit validity period. The bank cannot unilaterally reduce or increase the interest due in the contract. Interest rates are established depending on the terms of placement of funds. Accordingly, the rate depends on the amount and term of the deposit. In the case of claiming the deposit depositor to the return amount before the expiration of the contract, interest is paid at a rate of 0.01% per annum.
2.3 Analysis of the Deposit Portfolio
The main goal of the deposit policy of OJSC Petrovsky is to attract the optimal amount of monetary resources (in terms of and under currencies), necessary and sufficient to work in financial markets, subject to ensuring the minimum level of costs.
Attracting resources is carried out in the course of specific operations provided for in the current bank licenses. At the same time, the main tools used by OJSC Petrovsky to attract resources are:
o Opening and maintenance of legal accounts and physically persons involving funds for these accounts;
o Opening and maintenance of accounts of other banks involving funds for these accounts.
The list of tools for attracting funds can be expanded during further banking. During the deposit operations, the Bank's division is guided by the legislation of the Russian Federation, the regulatory acts of the Central Bank of the Russian Federation, the Bank's charter, this document and internal documents regulating the technical procedure and conditions for conducting specific types of banking operations. If you trace the dynamics in a few years, then you can note the steady increase in the balances of legal entities (Figure 11):
Figure 11 Dynamics of residues in accounts of legal entities OJSC Bank Petrovsky
Deposits of individuals will analyze using Table number 2:
Analysis of the deposit portfolio of Petrovsky Bank OJSC in 2008 (for urgency of investments)
| No. p / p | Name of the PDS article | Balance account | The magnitude of the PDS, thousands rub. | PDS structure,% | Changes for the period (+/-) | |||
| at 1.01.0. 8 G. | at 1.01.0. 9 G. | at 1.01.0. 8 G. | at 1.01.0. 9 G. | in thousand rubles. | in% | |||
Deposits (e), total including: |
Σ p.1 - 7 | 19270123.00 | 18033769.00 | 100.00 | 100.00 | -7% | ||
| I. | Demand deposits (BV), total | 410-423(01), 42309, 425-426 (01), 42609 | 290832.00 | 1 | 2 | 40013 | 15.9 | |
| II. | Urgent deposits (DS), total | 17742937.00 | 99 | 98 | -6.8 | |||
| 1. | for up to 30 days | 410-423(02), 42310, 425-426 (02), 42610 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 2. | for a term of 30-90 days | 410-423 (03), 42311, 425-426 (03), 42611 | 445687 | 1109708 | 2 | 6 | 148 | |
| 3. | for a period of 91-180 days | 410-423(04), 42312, 425-426 (04), 42612 | 2247860 | 3590845 | 12 | 20 | 1342985 | 59.7 |
| 4. | for a period of 181 days to 1 year | 410-423(05), 42313, 425-426 (05), 42613 | 5946184 | 5155936 | 31 | 29 | -790248 | -13.3 |
| 5. | for a term of 1 year to 3 years | 410-423(06), 42314, 425-426 (06), 42614 | 10379573 | 7886448 | 54 | 43 | -2493125 | -24.1 |
| 6. | for a period of over 3 years | 410-423(07), 42315, 425-426 (07), 42615 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Such an analysis allows you to identify the features of the Bank's deposit policy and to determine in the overall approximate deadlines for the placement of the Bank's resources. In particular, the results of the analysis make it possible to conclude about the involvement of resources from the point of view of their cost ("expensive" / "cheap"): term deposits are much more expensive than balance of funds in demand.
Additionally, to formulate the final output on the analysis of deposits for timing, it is advisable to calculate the following indicators:
The urgency coefficient of the structure of deposits (D in D):
d in d \u003d ds / d, where DS is the volume of urgent deposits; D - total deposits.
As of 01/01/2008 98%
As of 01/01/2009 98%
The high rate of urgency of the structure of deposits characterizes the degree of constancy and stability of the resource base.
In general, the increase in the share of urgent deposits in the total amount of deposits of the bank should be assessed positively, because Urgent deposits as the most stable component of the deposit portfolio provides at an acceptable level and makes it possible to increase the liquidity of the Bank and conduct operations on the placement of resources for longer times.
The share of urgent deposits (DS) in the total amount of liabilities (P): D \u003d DS / P.
As of 01/01/2008 38.5%
As of 01/01/2009, 21.4%
Coefficient of the structure of obligations (CSR): KSO \u003d BOARD / DS.
As of 01/01/2008 1.3%
As of 01/01/2009 0.1%
The indicator characterizes the stability of bank financial resources. The lower the value of the indicator, the smaller the relative need of the Bank in liquid assets caused by the structure of obligations.
Figure 12 shows that the greatest amount of funds raised is to deposits over 181 days and over the year.
Figure12 The structure of deposits of OJSC "Bank" Petrovsky "in terms of 01.01.2009
Since 2005, OJSC Bank Petrovsky is confidently increasing the deposit portfolio, as can be seen in Figure 13. 
Figure 13 Dynamics of residues in the accounts of individuals
Banking crisis of October 2008 tailed the sustainability of the bank, but today everything has stabilized
2.4 Organization of the formation and implementation of deposit policy
The deposit policy of OJSC Bank Petrovsky is closely related to the Bank's credit and interest policy, being one of the elements of banking policies in general.
Deposit policy is formed with the allocation of the following
Setting a goal and determination of tasks of deposit policy;
Allocation of relevant units involved in the implementation of deposit policies, the distribution of employee powers;
Development of the necessary procedures and technical procedures for conducting banking operations that ensure resource involvement;
Organization of control and management in the process of carrying out banking operations aimed at attracting resources.
When forming a deposit policy, the following specific principles are taken into account:
Principles of ensuring optimal (taking into account the subsequent receipt of income from the placement of resources) of the cost level;
The principle of security of deposit operations and maintain the reliability of the Bank's work.
Compliance with the listed principles allows the Bank to form both strategic and tactical directions in the organization of the deposit process, thereby ensuring the efficiency and optimization of deposit policies.
Deposit policy of OJSC "Bank Petrovsky" is based depending on:
Subjects of deposit relations (in relation to individuals and legal entities);
Banking tools used to attract resources;
Resource attraction time (short-term, medium-term and long-term deposit policy);
Attraction goals (for investing, lending, maintaining current liquidity);
Aggressiveness in the involvement of resources and related pricing policy and the degree of risk of operations.
Deposit policy of OJSC "Petrovsky Bank" provides for:
carrying out the analysis of the deposit market;
o determining target markets to minimize deposit risk;
o minimizing expenses in the process of attracting funds;
o Optimizing the management of the deposit portfolio in order to maintain the required level of liquidity of the bank, increasing its sustainability.
Bank Petrovsky OJSC, when conducting its deposit policy, takes into account the following factors:
Change of tax legislation;
The current state and trends of the financial market both in terms of attraction and placement of resources;
Changes made in the calculation of bank standards;
Changes in the refinancing rate of the Central Bank of the Russian Federation;
Limits, control numbers installed by the Bank by the banking operations themselves.
The implementation of the Bank's Deposit Policy is carried out during the conduct of specific banking operations that allow you to attract funds. At the same time, Bank Petrovsky OJSC conducts deposit operations, that is, attracts funds on conditions:
o repayment;
o urgency;
o paid (when it is provided for by the relevant contracts);
o publicity (regarding the conditions for attracting funds).
The basic principle of the Bank's work in the course of deposit operations is to ensure the amount of resources required for the normal functioning of the Bank, achieved with the minimum cost of their purchase.
The main principle is achieved due to the diversification of the portfolio of the attached monetary resources on sources of their involvement and structure, binding volumes and the structure of these resources (according to currency and urgency) to the volume and structure of assets.
A compulsory requirement in determining the possible conditions for attracting resources is a preliminary analysis of possible areas of spending involved resources with an assessment of financial results and structural changes as a result of the alleged banking operations.
The main direction of the Deposit Policy "Petrovsky Bank" is the opening and maintenance of individuals of individuals.
Remains of funds in the accounts of individuals - customers of the bank make up most of the total amount of funds attracted by the Bank. Nevertheless, the issue of intensifying work with individuals is intended to pay increased attention.
The Bank's policy in working with individuals is based primarily at work with a wide range of individuals, this contributes to a developed network of offices. Another client unit is employees of organizations and enterprises that are clients of the bank. The Bank opens and conducts the accounts of individuals in rubles and foreign currency on the basis of existing agreements, differing depending on the urgency of accounts.
The price policy of the bank in working with customers - individuals provides for:
Lack of fees for the balances on the current states of individuals.
The availability of fees for the balances on urgent (deposit) accounts of individuals, the amount of which is determined on the basis of the basic conditions for the attraction of funds approved by the Board of the Bank.
The Bank is conducting activities aimed at an increase in the total amount of funds in the accounts of individuals to the share of urgent resources, which serves by the Bank the Interest Policy, which provides for the creation of competitive conditions for attracting funds from individuals. So the bank holds for permanent depositors a bonus program "Premium percentage"
The influx of funds from individuals directly or indirectly contributes to additional services provided by the Bank to individuals. Among these services, issuance and maintenance of plastic cards, remittances, payment of utilities, renting safe chains.
Another important area of \u200b\u200bthe Deposit Policy of Petrovsky Bank OJSC is the opening and maintenance of legal entities.
The leading source of the formation of the resource base of the Bank is the balance of funds in the accounts of legal entities - customers of the bank.
The Bank's policy in working with legal entities is based, first of all, at work with the Bank's current clients, as well as on the involvement of new ones.
Increasing the sustainability of the Bank's resource base (in terms of volumes and timing) should be facilitated:
Business development by current banking banks;
Opening in bank accounts by organizations and enterprises - counterparties and partners of the Bank's current clients;
The accumulation of financial flows associated with the implementation of programs and projects carried out with the participation of the Bank's clients.
The Bank opens and conducts accounts of legal entities in rubles and foreign currency on the basis of current treaties. The price of the Bank in working with clients - legal entities provides for the lack of fees for funds on the current accounts of legal entities, except the establishment of individual fees for fees for Remains of funds in the accounts of enterprises and organizations.
Considering the increasing demands on the part of the Central Bank of the Russian Federation on
Raising liquidity levels expressed in the need for daily execution of banking standards, as well as seeking to balance resources with assets in terms of timing, the Bank conducts activities aimed at an increase in the total amount of funds in the accounts of legal entities. These activities imply personal work with specific clients involving:
Tracking of cash flow on customer accounts - legal entities, choosing on the basis of the information received by the most promising customers in terms of formation on the basis of customer database of the urgent resource base;
Creation for customers - legal entities conditions stimulating to the translation of a part of funds from current accounts for urgent accounts;
Timely informing customers - legal entities about new customer service conditions.
As part of solving the problems of expanding the circle of legal entities serviced in the Bank, increasing the resource base of the Bank at the expense of funds accumulated on the accounts of legal entities, is of paramount importance to create conditions for customers contributing to the influx of cash resources. Such conditions can be considered competitive, compared with other banks, the Bank's Tariff Policy, the Bank's flexibility regarding the establishment of fees for the deployed monetary resources, favorable customers for customers, including obtaining loans, the possibility of remote customer service through the client-bank system and so Further.
Chapter 3. Improving Deposit Policy
3.1 Tools for improving the deposit policy of OJSC Bank Petrovsky
2008 was a difficult year for the banking system around the world. Despite the assumptions and forecasts of a number of experts, the financial crisis has affected Petrovsky Bank OJSC. Despite the problem situation in the banking market, Bank Petrovsky OJSC continued its development. According to the results of September 2009, the Bank completely overcame all the difficulties and achieved high financial results.
One of the problems with which commercial banks are currently facing is the formation of a resource base. The resource base has a direct impact on the liquidity and solvency of the commercial bank. The scale of the activities of the commercial bank, and, therefore, the size of the income that he receives is rigidly dependent on the size of those resources that the Bank acquires in the market of various resources and, in particular, deposit. From here there is a competitive struggle between banks for attracting resources.
The formation of a resource base, which includes not only the attraction of a new clientele, but also a constant change in the structure of sources of resource attracting, is an integral part of the flexible management of assets and liabilities of a commercial bank. Effective liability management involves the implementation of competent deposit policies. The specificity of this area of \u200b\u200bactivity is that in terms of passive operations, the choice of the Bank is usually limited to a certain group of clientele, to which it is tied much stronger than to borrowers.
The limited resources associated with the development of banking competition leads to close binding to certain customers. If the circle of these clients is narrow, then the dependence on them is very high. Therefore, in our opinion, to strengthen the resource base, banks need a weighted deposit policy, which is based on the maintenance of the necessary level of diversification, ensuring the possibility of attracting cash resources from other sources and maintaining a balance with assets in terms of timing, volumes and interest rates.
In order to expand the resource potential of JSC Bank Petrovsky, it is necessary to intensify its deposit policy. In this regard, one of the priorities of the Bank's work should be the gradual increase in the deposit portfolio through a competent deposit policy aimed, in particular, to expand the list of deposits accessible to customers, the introduction of new types of services for their convenience.
The deposit policy of OJSC Bank Petrovsky should take into account the needs of all social and age groups of citizens - working and pensioners, young people and middle-aged people, and must also be designed for people with different levels of income.
With each client, OJSC Bank Petrovsky should strive to establish long-term partnerships. To this end, the bank must predict the development of customer needs, develop and offer a full range of banking products and services.
Thus, OJSC Bank Petrovsky could offer a new type of contribution to accumulate funds for training or a gift to the child. The minimum initial fee is 10,000 rubles. The deposit opens for a period of a year, with accrual of 13% per annum in rubles and with the possibility of innovation. If at the end of the term, the deposit amount and interest due to interest remains for the next time in the same form of the contribution, then the client will have the opportunity to receive a bonus of 0.5% to the interest rate acting at the time of prolongation in this type of deposit. It is possible to conduct promotional actions and issuing prizes to active depositors.
To attract a young generation of OJSC Bank Petrovsky, which could be replenished with the list of contributions with new types of deposits focused on this population, for example, to offer a contribution to students. It is proposed to introduce the following conditions of this contribution: the deposit period is 1 year (four-fold prolongation), the discovery only if there is a student ticket, a plastic card opens to the deposit and percentages are listed monthly on it, it turns out a stylance. In order to ensure the influx of depositors to this type of deposit, it is advisable, in our opinion, to introduce some incentives attractive to potential customers among the younger population (for example, discount cards stores).
For the greatest interest of customers and the influx of deposits of OJSC Bank Petrovsky, it can offer interest payments on placed deposits ahead with the aim of compensating inflationary losses. In this case, the depositor when placing funds for a certain period immediately receives income due to him. However, if the contract is terminated early, the Bank recalculates interest on the contribution and excessively paid amounts will be held from the deposit amount. In addition to expanding the spectrum of deposits, in order to improve the deposit policy, the Bank is invited to master the issue of securities, namely savings certificates. Legal entities and individual entrepreneurs will be able to acquire a deposit certificate. The minimum deposit amount decorated by a deposit certificate is 100,000 rubles. The maximum period of which the deposit certificate is issued is 2 years. The deposit certificate is carried out on the basis of the concluded agreement of the bank deposit. The payment of interest on the certificate is made simultaneously with its repayment.
Payment of the certificate is carried out by the bank when the date of claiming the amount on it on the basis of the application for payment and upon presentation of a deposit certificate.
A deposit certificate can be charged to pay early. In case of early presentation of the certificate to pay, the Bank pays the amount of the deposit and interest paid on the claim to demand valid at the time of the certificate for payment.
Thus, when developing deposit policies, the bank should be guided by certain criteria for its improvement, among which the following can be distinguished:
- the relationship of deposit, credit and other bank operations to maintain its stability, reliability and financial stability;
- diversification of the bank resources in order to minimize the risk;
- segmentation of the deposit portfolio (on customers);
- differentiated approach to various groups of clients;
- Competitiveness of banking products and services.
These are some possible ways to improve the deposit policy of OJSC Bank Petrovsky and increasing its role in ensuring its sustainability. In conclusion, we can say that each bank develops its deposit policy, determining the types of deposits, their terms and interest on them, the conditions for holding deposit operations, while relying on the specifics of its activities and taking into account the factor in competition from other banks and inflation processes occurring in economy.
3.2 Deposit Insurance System in the Russian Federation and its improvement
Attraction of funds of legal entities and individuals, operations on deposit accounts are one of the main activities for banks. At the same time, bankruptcy of banks leads to the loss of their depositors of their money. A guarantee of the preservation of a bank deposit in such cases can be provided by means of a deposit insurance mechanism.
One of the manifestations of the stabilization of the Russian economy is a pronounced tendency to an increase in real incomes of the population, respectively, its savings potential. Cash accumulation of citizens are an important reserve for increasing the resource base of the banking sector, so necessary to expand its investment opportunities. Therefore, the task of enhancing the process of mobilizing financial resources of individuals into deposits is macroeconomic significance for our country.
According to leading domestic and foreign experts, the main factor preventing the successful solution of the problem under consideration is the low level of citizen confidence in commercial banks. To change this provision by the Government of the Russian Federation and the Bank of Russia, a whole range of events was adopted. The most important of them is legitimately attributed to the introduction of the Legislative Deposit Insurance Base. This federal law ensures the necessary legal framework for centralized protection of investors' interests, establishes the organizational foundations of the deposit insurance system, regulates the legal and financial relations arising in the process of its operation.
Independent experts and representatives of the banking community unanimously note its positive impact on the development of a savings effect in modern Russia. At the same time, the analysis of the results of the functioning of the system made it possible to state the presence of a number of not solved and controversial issues. They relate to the conceptual apparatus, the general methodology for compulsory deposit insurance, its applied mechanisms, finally, the functions and powers of the agency managing this system.
The deposit insurance system is a set of measures aimed at protecting deposits and ensuring their guaranteed return (or partly) in the event of a financial institution bankruptcy. The insurance system is based on the following principles:
Obligation of participation in the deposit insurance system;
Reduction of the risks of adverse effects for investors in case of non-fulfillment by banks of their obligations;
Transparency of the deposit insurance system;
The accumulative nature of the formation of the fund's compulsory deposit insurance funds by regular contributions from the deposit insurance system.
And yet, the main factor determining the type of deposit protection system is the economic level of the country's development: the degree of development of the monetary system, the share of state ownership in the banking sector, as well as the possibility of a banking crisis, which is an important stimulus for introducing a more efficient deposit protection mechanism .
The most important factor in the redistribution of funds between banks, naturally, is the interest rate policy of banks. The introduction of any advanced new guarantees will lead to a decrease in interest rates on deposits in commercial banks, and high interest rates will remain only in the most risky and aggressive banks that need additional funds, which is not included in the number of tasks of creating a new system.
Amendments were made to the current Federal Deposit Insurance Act in order to improve the efficiency of the insurance system for individuals and improving the confidence of the population to banks. Consider the improvement of criteria and mechanisms for monitoring the compliance of banks, the requirements for participation in the deposit insurance system after making changes from 2008:
The inaccuracy is eliminated, according to which the established requirements for banks involved in the deposit insurance system have been distributed only to banks on the day of entry into force of this federal law permission to attract funds to the deposits of individuals and on the opening and maintenance of bank accounts of individuals. According to the new formulation, not only banks that have the appropriate permission of the Bank of Russia should be satisfied, but also applying for its extradition.
In addition, the requirements for banks that are used to participate in the deposit insurance system are clarified. It was envisaged that the bank can be a member of the deposit insurance system at the same time as follows:
Accounting and reporting of the Bank are recognized by the Bank of Russia with reliable;
The Bank complies with the required regulations established by the Bank of Russia;
The financial stability of the Bank is recognized as the Bank of Russia sufficient;
The Bank does not apply to the measures provided for by banking legislation, as well as there are no grounds for their application (including the introduction of a ban on the implementation of individual banking operations, recovery from the credit institution of fines, the implementation of measures to prevent bankruptcy).
Another requirement was added: the bank compliance with the established procedure for disclosure to an unlimited range of information about persons providing a significant (direct or indirect) influence on decisions made by the authorities of its management. At the same time, the Bank of Russia is obliged to decide on the introduction of a ban on receiving deposits of individuals of individuals, if the bank does not satisfy the required requirements for a certain period. So, in particular, it was established that the Bank does not comply with the requirements for participation in the Deposit Insurance System in cases if:
Accounting and reporting of the Bank are recognized by the Bank of Russia unreliable for three months in a row;
Bank for six months in a row does not fulfill the same mandatory standard from among Russia established by the Bank. Non-compliance with the mandatory standards in the reporting month is its violation for the total for six or more operational days during this month;
In addition, the Bank of Russia has the right to decide on the introduction of a ban on attracting funds to the deposits of individuals in cases where:
1) Accounting and reporting of the Bank are invalid by the Bank of Russia;
2) the bank within two months in a row does not fulfill the same mandatory standard from the number of Russia established by the Bank;
3) The Bank has two months in a row to assess "unsatisfactory" on the same group of indicators (equalization of capital, assets, liquidity, as well as assessing the quality of bank management, its operations and risks).
4) If the bank has an assessment of "unsatisfactory" on the same group of indicators (equalization of capital, assets and liquidity) for six reporting monthly dates in a row or two reporting quarterly dates in a row;
5) If the Bank has a "unsatisfactory" assessment of the Bank's quality assessment assessment group, its operations and risks, as well as in relation to the procedure for disclosing an unlimited range of information about persons providing a significant (direct or indirect) impact on decisions made by its management bodies , three months in a row;
6) If the bank has an assessment of "unsatisfactory" on the group of indicators of estimation of profitability into two reporting quarterly dates in a row.
Also, banks are entrusted to keeping accounting not only by the Bank's obligations before depositors, but also the oncoming requirements of the bank to the depositor. The maintenance of such accounting ensures the readiness of the Bank to form at the occurrence of an insured event, as well as for any day at the request of the Bank of Russia (within seven calendar days from the date of receipt of the specified claim) of the bank's obligations register before depositors. The registry is formed in the order and in the form, which are established by the Bank of Russia on the proposal of the agency. The composition of deposits subject to mandatory insurance was specified. Thus, from this composition excluded the funds posted on bank accounts (deposits) of lawyers, notaries and other persons, if such accounts are open to the implementation of professional activities.
A circle of persons with the right to receive compensation on deposits after the occurrence of the insured event was expanded, namely the heirs of the depositor. The heir is entitled to take advantage of the rights of the deceased depositor from the moment of issuing the heir to the relevant certificate of the right to inherit or other document confirming its right to inherit or the right to use the testing of the testator.
In addition, a new rule has been introduced regarding additional funds received into the contribution (at the expense) after the introduction of the Bank of Russia to attract funds to the deposits of individuals. Such funds (with the exception of interest accrued in accordance with the terms) are not credited to the contribution (at the expense), and are subject to either return to persons who gave an instruction on crediting funds into the contribution (to the account), or, on the application of an individual, are listed on The account of the same individual opened in another bank consistent with the deposit insurance system.
As amended agency, the agency is entrusted with the functions of the competitive managing (liquidator) in the bankruptcy of credit institutions. In addition, it is envisaged to empower the Agency to carry out operations on the sale of property (pledge subject), which is ensuring the fulfillment of the obligations of credit institutions - the counterparties of the Bank of Russia.
Of the foregoing, it can be concluded that the main reason for improving the deposit insurance mechanism in the Russian Federation is the financial unreliability of most existing financial institutions and the enormous loss of the population from the collapse of the largest private banks during the unstable financial situation of the country's economy.
As is well known, the most severe consequence of bank crises of various countries has become a total crisis of distrust of the population to the banking system. It is clear that no administrative measures cannot force the population to keep free cash in banks. Economic measures are needed and the creation of adequate regulatory and legal support for the operation of the bank deposit protection system. Under these conditions, the question of creating a system that allows you to protect the contributions of citizens from risk to be lost, is published on the implementation of measures to restore society confidence in banks. Political and economic instability are a consequence:
Reduction of savings activity and increasing consumption due to accumulative funds, in case of interest in income received by interest deposits;
Reduce the activity of the population to invest in securities;
Transfer of funds from the ruble zone to currency.
Therefore, in our opinion, the modern Russian state is important tasks of improving the insurance system concerning, firstly, stimulating economic growth and, secondly, raising the level of security of the rights and legitimate interests of a person and a citizen.
Thus, it is worth noting that for our country in conditions of general economic instability, inflation, a huge budget deficit, the creation of a multitude of banks, reorganization of the banking system, etc. With all the sharpness, the question arises to improve the insurance of banking activities, ensuring the interests of bank customers.
In conclusion of this issue, it must be said that the reliability of commercial banks is one of the decisive elements of their activities, and one of the important measures to ensure reliability is insurance of deposits, which is used in all countries with highly developed banking systems. In connection with this banking system, it is necessary to significantly increase the confidence of potential depositors in full and timely return of funds trusted by the Bank. This will contribute to the solution of an important task in engaging in the economy of financial resources currently from the population in the form of ruble and currency cash for many tens of billions of dollars.
Conclusion
Today, commercial banks are able to offer a customer a variety of banking products and services. All banks in the Russian Federation are universal in their specifics. There is a certain basic set, without which the bank cannot exist and function normally. Among them are preferred to attract and place temporarily free cash customers into deposits.
Deposits are an important source of resources of commercial banks. Deposit accounts can be the most diverse and mostly their classification may be given such criteria as sources of deposits, their intended purpose, the degree of profitability, etc.
Attracted resources have important for banks, since it was at the expense of them banks cover the greatest proportion of their needs for money, which averages 40% of the total number of resources of a commercial bank.
At the same time, it is impossible not to say that such a source of formation of banking resources, as deposits inherent and some disadvantages. We are talking about the significant material and cash costs of the bank when attracting funds into deposits, limited free cash. In addition, the mobilization of funds in deposits depends to a large extent of customers, and not from the bank itself. Therefore, the competitive struggle between banks in the credit resource market forces them to take measures to develop services that contribute to attracting deposits. For these purposes, commercial banks are important to develop a deposit policy strategy based on their goals and objectives. Strengthening the deposit base is very important for banks. By increasing the total contributions and expanding the circle of contributors of legal entities and individuals, it is possible to improve the organization of deposit operations and the system to encourage contributions.
During the writing of the work, the activity of a particular subject of the banking system was studied - OJSC Bank Petrovsky in the field of contributing operations.
Analyzing the deposit market, you can reveal the growth trend of the share of deposits of legal entities and individuals in the total liabilities of the banking sector, their share has been growing steadily during 2005-2008.
As for the activity of OJSC "Bank Petrovsky", it can be noted here both positive and negative trends. A constantly expanding client base, capital and attracted funds can be attributed to the positive points of the Bank. However, in the structure of raised funds, it is necessary to pay attention to the funds attracted from legal entities, since it is the contributions currently are the most promising liabilities and a priority direction of bank growth.
Deposits of legal entities from the entire amount of deposits account for approximately 24.2% as of 01/01/2009, it is three orders of magnitude less than deposits of individuals. This is due to the peculiarity of the Deposit Policy of Petrovsky Bank OJSC: not to attract a possible placement of funds from the settlement or current account of the Client to the Bank to the urgent deposit, much more convenient and more profitable for cash for free of charge on the current account, or, in the extreme The case is a monthly interest accrual for the average daily balance. And if you consider that there is such a concept as a comprehensive customer service (the presence of a current account, a bank-client system, a salary project, business accounts and other services), which implies an increase in interest rate for several points when using the service of an urgent deposit together with another service Bank, we can conclude that the chances of a savings bank to attract this client are almost equal to zero.
The amount of funds raised to deposits from organizations has a positive trend over the past years. This is due to the growing income of enterprises and the development of customer business.
Interest policies are an integral part of the formation of a commercial bank deposit policy. This is the observance of a number of principles on which the optimal interest policy of the Bank should be based. Among them, first of all, the principle of differentiation of interest should be called depending on the storage period and the size of the savings, the principle of "social" differentiation of interest on deposits, the principle of ensuring the profitability of banking activities and the principle of maintaining and protecting savings of depositors. When forming an effective interest and deposit policy of the Bank, a combination of all these principles is required.
Policy in the field of attracting free funds in deposits both for legal and individuals in Petrovsky Bank OJSC despite uniform growth from year to year should be constantly improved.
The study of the theoretical foundations of the Deposit Policy and the assessment of the current situation in the field of attracting funds in the conditions of the current financial crisis contributed to the contributions allowed to develop a number of proposals and recommendations for improving deposit policies.
So, to strengthen the deposit base and the expansion of resource potential, the Bank is offered:
1) Expand the list of existing contributions, focusing on different layers of the population with different income levels. In this regard, a number of new contributions are proposed.
2) take measures to minimize the negative impact of unforeseen dissemination by the population of term deposits.
3) to pay interest on placed deposits at a rate corresponding to the storage time of funds on the account in order to compensate for inflationary losses for the client
Reliability of commercial banks is one of the decisive elements of their activities, and one of the important measures to ensure reliability is insurance of deposits, which is used in all countries with highly developed banking systems. In connection with this banking system, it is necessary to significantly increase the confidence of potential depositors in full and timely return of funds trusted by the Bank.
For our country in the context of general economic instability, inflation, a huge budget deficit, the creation of a set of banks, reorganization of the banking system, etc. With all the sharpness, the question arises to improve the insurance of banking activities, ensuring the interests of bank customers.
Summing up It should be noted that each bank develops its deposit policy independently, determining the types of deposits, their terms and interest on them, the conditions for holding deposit operations, while relying on the specifics of its activities and taking into account the factor in competition from other banks and inflation processes flowing in economics.
Bibliography
1. "On banks and banking activities in the Russian Federation" Federal Law of the Russian Federation of 02.12.1990 №395-1
2. Civil Code of the Russian Federation
3. "On mandatory regulations of banks": Instruction of the Bank of Russia dated January 16, 2004, №110 and
4. "On mandatory reserves of credit institutions": the provision of the Bank of Russia dated March 29, 2004 № 255-P
5. "On the procedure for accrualing interest on operations related to the involvement and placement of funds, and the reflection of these accounting accounts": the position of the Bank of Russia from 26.06.98 No. 39-P
6. "On deposit and savings certificates of credit institutions": the position of the Bank of Russia of 10.02.1992. №14-3-20 from 10.02.92 No. 14-3-20 as amended. Letters of the Central Bank of the Russian Federation of 18.12.92. №23.
7. "On the method of calculating your own funds (capital) of credit institutions": a letter of the Bank of Russia dated December 16, 1998. №363-t.
8. Federal Law No. 395-1-FZ dated 02.12.1990g "On Banks and Banking Activities" (with changes and additions)
10. Federal Law No. 86-FZ of July 10, 2002 "On the Central Bank of the Russian Federation (Bank of Russia)" (with changes and additions)
11. Federal Law No. 177-FZ dated 23.12.2003. "On insurance of deposits of individuals in the banks of the Russian Federation"
12. Federal Law No. 158-FZ dated July 22, 2008 "On Amendments to Chapters 21, 23, 24, 25 and 26 of the second Tax Code of the Russian Federation and some other acts of the legislation of the Russian Federation on taxes and fees"
13. Federal Law No. 48-FZ dated 11.03 1997 "On the translation and simple bill"
14. Regulation of the Bank of Russia No. 255-P dated March 20, 2004 "On mandatory reserves of credit institutions" (taking into account changes)
15. Banking: Tutorial / Ed. G. N. Beloglazova, L. P. Rabbivetsky, 5th Edition Recycled and supplemented, Moscow, Finance and Statistics, 2008.- 478C.
16. Banking operations / Under Red.Yu.I. Corobova.-M.: Master, 2007. -446С.
17. Banking operations: Tutorial / Under Red A. V. Pechnikova, O. M. Markova, E. B. Starodubtseva, Moscow, 2009.- 284c.
18. Banking operations: Tutorial / Collective of authors; Under Ed.o.I. Lavrushina. -: Knurus, 2007.-384c.
19. Banking: Tutorial. - 2nd ed., Pererab. and add. / Ed. O.I. Lavrushina.-M.: Finance and statistics, 2005. - 576 p.
20. Banking: Textbook / Under Red.D-RA Ekon Nauk, Prof.G.G. Corobova. - Ed. İzm.-m.: Economist, 2006.-766c.
21. Beloglazova G.N., Rabolivetsky L.P. Banking. Organization of the activities of the Commercial Bank: Tutorial. - M. Higher education, 2008.- 422c.
22. Veliya I., Volkov S. "Time to collect money" // Expert №11 (650) dated 03/23/2009
23. Glushkova N.B. Banking: Tutorial - M., Academic Project, 2005.-210s.
24. Zharkovskaya E.P. Banking: Tutorial for university students. - M., Omega-L, 2008.-480 p.
25. Sheremet A.D., Saifulin R.S. .. Meeting of financial analysis. - M., Infra-Moscow, 2007.-376c.
26. Internet - the SES website: http // www.asv.org.ru / guide (section "Depositor Handbook")
27. Internet - site: http://www.rbcdaily.ru
28. Internet - site: http://www.petrovskiybank.ru/
29. Internet - site: http. :// www. . consultant. . ru
30. Internet - site: http://bankrage.ru/
Appendix No. 1.
Treaty No. ______________
On the contribution of "to demand"
st. Petersburg "_________" _______________ 200 ___.
1. Subject contract
1.1. The subject of the contract is the relations of the parties about the receipt of funds in the contribution, interest payments and the return of the deposit on the terms and in the manner prescribed by this Agreement.
2. The procedure for accrual and interest payments
2.1. The bank opens the account to the account __________________
2.2. For the use of cash, the Bank pays to the depositor __________________% per annum. Deposit term: to demand.
2.3. Interest on the amount of the contribution is charged from the day following the day of its receipt to the bank, on a day preceding it to return to the depositor, or to write off the depositor from the account for other reasons. At the same time, a valid number of calendar days a year (365 or 366 days, respectively, is taken for the calculation).
2.4. The interest accrued during the calendar year is joined to the deposit remainder, increasing its amount on the last working day of the current year.
2.5. When paying out funds from the deposit in foreign currency in cash, the amount less than the minimum nominal value of the corresponding currency is paid to the depositor in the currency of the Russian Federation at the rate established by the Central Bank of Russia at the date of payment.
3. RIGHTS AND OBLIGATIONS OF THE PARTIES
3.1. The depositor has the right:
3.1.1. Make the contribution and expenditure operations in deployment, both in cash and non-cash. It is possible to replenish the deposit by third parties.
3.1.2. Unilaterally terminate the contract and claim the amount of the contribution with interest due.
3.1.3. To give the third person the power of attorney at the disposal of the contribution and make a testamentary disposition of cash rights in the bank.
3.2. The depositor is obliged:
3.2.1. To contribute to cash or non-cash by cash in the amount of at least 10 (ten) rubles or equivalent in foreign currency, no less than the minimum nominal banknote.
3.2.2. Do not use the contribution of "to demand" to implement settlements related to business activities.
3.2.3. Reopen the costs of expenses arising from the banking of the depositor's instructions in accordance with the feasibility fees approved in the Bank.
3.2.4. Notify the bank in two working days about the intention to claim an amount of an amount exceeding 10,000 rubles or equivalent in foreign currency at the date of notification.
3.3.The bank has the right:
3.3.1. During the term of the contribution to change the interest rate on the deposit. The new interest rate comes into force on the expiration of 10 days from the date of placement of the corresponding message on the advertising stands in the premises of the bank.
3.3.2. To write off at the time of the operation from the account of the depositor in the disassembled procedure due to the Bank's services fee in accordance with the tariffs of the commission, approved in the Bank.
3.4. Bank must:
3.4.1. Provide a contribution to the account statement reflecting the cash flow in the account when performing profit-expenditure operations.
3.4.2. Comply with the secret of the contribution in accordance with the legislation of the Russian Federation.
4. SPECIAL CONDITIONS
4.1. If the depositor within 12 (twelve) months from the date of the last operation has a zero balance on the account, the Bank has the right to consider this circumstance, as a direct disposal of the contributor to the closing of the deposit account.
4.2. The savings book on the deposit is not issued.
CONTRACT TIME
5.1. This Agreement shall enter into force on the date of its conclusion and making funds into the contribution and is valid until the invoice is closed on the application of the depositor or before the circumstances specified in clause 4.1. This contract.
5.2. This Agreement is drawn up in two copies, one for each of the parties having the same legal force.
5. Details, addresses and signatures of the parties
BANK : OJSC "Bank Petrovsky":
191186 St. Petersburg, Nevsky Pr., House 26, k / from 30101810600000000809 in GRKTS GU Bank of Russia in St. Petersburg, Beach 044030809,
TIN 7831000179, PPP 783501001, windows 96120, OKPO 09801859, OGRN 1027800000568 SWIFT: PETR RU 2P
Depositor: FULL NAME ______________________ INN
Date of Birth ___________________________
Zip code, address _____________________ phone __________
Passport: Series ________ number _______________ whom and when issued _____________________________________________________________
Signature ___________________
Appendix No. 2.
Contribution "Petrovsky-Universal"
Additional cash contributions are made to their contribution, or by non-cash. The periodicity of the application and the magnitude of additional contributions are not limited.
At the deposit allowed partial payments of sums within 20% of the amount of funds on the 1st month of the month in which the payment is made.
The deposit produces 3 multiple automatic prolongation of the deposit period without the personal presence of the depositor.
Interest on the deposit is paid at the date of return of the contribution of the main or prolonged period by calculating the deposit amount. When claiming the deposit amount before the expiration of the main or prolonged period, interest for the period from the beginning of the term (main or prolonged) to the date of claim is awarded in the amount of 0.05% per annum.
By deposit, you can make a power of attorney and testation by the rights to the cash deposit into the contribution.
Contribution "Petrovsky - Universal"
| 91-180 | 181-1 year | over 1 year to 3 years | |
| amount, rub. | |||
| from 10,000 extra. Contribution from 1 000 | 11,25 | 12,25 | 12,75 |
| from 500,000 extra Contribution from 25,000 | 12,25 | 13,25 | 13,70 |
| from 1,000,000 extra. Contribution from 50,000 | 12,50 | 13,50 | 13,95 |
| amount, US dollars | |||
| from 300 extra. Contribution from 50. | 5,00 | 6,00 | 6,15 |
| from 15,000 extra. Contribution from 500. | 5,90 | 6,90 | 7,05 |
| 6,05 | 7,05 | 7,25 | |
| amount, Euro | |||
| from 300 extra. Contribution from 50. | 4,60 | 5,60 | 5,75 |
| from 15,000 extra. Contribution from 500. | 5,50 | 6,50 | 6,65 |
| from 30,000 extra. Contribution from 1 000 | 5,65 | 6,75 | 6,80 |
Contribution "Petrovsky - Classic"
With interest payments monthly or at the end of the deposit period
The agreement of the term deposit is in writing by the contributor or its representative for a notarized power of attorney, in which this right of the representative of the depositor is agreed.
Deposits are accepted in rubles, US dollars or euros. The amount and deposit period may be any of the proposed installation ranges. The interest rate on the contribution depends on the amount and term of the deposit and is not subject to change during the main or prolonged timeline.
Additional contributions to the contribution are not accepted. Payment of part of the contribution with the preservation of interest rates is not allowed. According to the deposit, 3-fold automatic time limits are made without the personal presence of the depositor with interest payments monthly.
Interest on the deposit is paid to the current account of the investor 01 of each month and on the last day of the main or prolonged deposit period.
- with the payment of interest at the end of the deposit period
Interest on the deposit is paid at the date of return of the contribution of the main or prolonged period by calculating the deposit amount.
When claiming the deposit amount before the expiration of the main or prolonged period, interest for the period from the beginning of the term (main or prolonged) to the date of claim is awarded in the amount of 0.05% per annum. By deposit, you can make a power of attorney and testation by the rights to the cash deposit into the contribution.
Contribution "Petrovsky-Classic"
| deposit term (inclusive), days | 31-90 | 91-180 | 181-1 year | over 1 year to 3 years |
| interest rates on deposit (% per annum) with interest payments: | ||||
| ruble | at the end of the deadline | |||
| 1 000-100 000 | 9,20 | 12,75 | 13,75 | 14,25 |
| 100 000- 700 000 | 9,40 | 13,00 | 14,00 | 14,45 |
| from 700,000 | 9,60 | 13,25 | 14,25 | 14,70 |
| u.S. dollars | ||||
| 100-3 000 | 4,50 | 6,50 | 7,50 | 7,65 |
| 3 000-15 000 | 4,65 | 6,65 | 7,65 | 7,80 |
| from 15,000 | 4,80 | 6,80 | 7,80 | 7,95 |
| euro | ||||
| 100-3 000 | 4,10 | 6,10 | 7,10 | 7,25 |
| 3 000-15 000 | 4,25 | 6,25 | 7,25 | 7,40 |
| from 15,000 | 4,40 | 6,40 | 7,50 | 7,55 |
| ruble | monthly | |||
| 1 000-100 000 | 8,20 | 11,75 | 12,75 | 13,25 |
| 100 000- 700 000 | 8,40 | 12,00 | 13,00 | 13,45 |
| from 700,000 | 8,60 | 12,25 | 13,25 | 13,70 |
| u.S. dollars | ||||
| 100-3 000 | 3,50 | 5,50 | 6,50 | 6,65 |
| 3 000-15 000 | 3,65 | 5,65 | 6,65 | 6,80 |
| from 15,000 | 3,80 | 5,80 | 6,80 | 6,95 |
| euro | ||||
| 100-3 000 | 3,10 | 5,10 | 6,10 | 6,25 |
| 3 000-15 000 | 3,25 | 5,25 | 6,25 | 6,40 |
Deposit policy, being an integral part of the general banking policy, has independent content. It determines the strategy and tactics of the credit organization in the implementation of its deposit activities.
In part strategy Deposit policy contains elements such as the principles of its formation, priority directions and tools of deposit activities.
Tactical aspect Deposit policy reflects the strategy implementation mechanism: the organization of the deposit process (the Bank's division participating in it, their powers), regulatory regulation, the principles of attracting and placement of deposits, the organization of control and regulation.
The principles of an integrated approach, scientific validity, optimality and efficiency, as well as the unity of all elements of the Bank's deposit policy are related to the general.
A comprehensive approach is expressed in the development of the theoretical foundations, priority areas of the Bank's deposit policy, both from the point of view of the strategy of its development and in terms of determining the most effective, optimal funds for the development of the bank tactical techniques and its implementation methods.
The principle of scientific validity assumes that the development of a deposit policy strategy should be based on its theoretical foundations, comply with the external conditions of the Bank's functioning, take into account the results of analyzing the Bank's activities in previous periods, take into account the general changes in banking policy.
Specific principles of deposit policies include principles ensuring the optimal level of bank costs, security Deposit operations, reliability. The bank, accumulating temporarily free cash in order to follow their subsequent placement, seeks to receive income not at any cost, and taking into account the realities of the market on which he operates. Attracting deposit resources should contribute to the efficiency of banking.
The principle of ensuring reliability means that the purpose of the Deposit Policy is to attract deposit resources in the amounts necessary for the implementation of the sustainable development of the bank, and at the lowest price.
The amount, deadline and cost of deposits in deposit policies occupy a central place. The amount (volume) of deposits is necessary for the Bank to ensure its development, to ensure the desired customers with demand for credit and other bank products. At the same time, the term of the deposit determines the choice of sphere and the placement tool, as well as the cost of resources affecting the bank's profits. In the context of the development of competition in the banking sector, weak orientation in prices in the deposit market will inevitably lead to loss of customers and profits, and insufficient linkage of the deposit time with the terms of their placement - to loss of liquidity.
The principle of security is due to the fact that the Bank's deposit activity is related to the emergence of a number of risks that the Bank must take into account. The main groups of these risks are financial, functional, macroeconomic, etc.
Risk management relies on the study of factors affecting the direction and specific content of the deposit policy.
Macroeconomic factors are highlighted, i.e. Those that affect all banks, and microeconomic, affecting the work of a particular bank. Of course, the Bank's deposit policy is largely determined by the nature of the monetary and fiscal policy of the state. The regional specifications of the Bank's functioning also has a significant impact. Analysis of the factors affecting the organization of the formation of the Bank's resources allows to state that the Bank's deposit policy reflects the priorities of both the national and individual policy of the bank.
Priorities The deposit policy discloses the preference of a particular bank in the field:
- subjects (legal, individuals);
- use of idle.
These priorities are determined by the content of the client-oriented strategy, the state of profitability and liquidity of the Bank, the development of the deposit products offered by them, the quality of management.
Tools It is a characteristic of a meaningful block of deposit policy. It includes:
- types of deposits offered by the bank in the context of the amounts, deadlines, the procedure for interest payments;
- Types and level of deposit rates used by the Bank;
- The content of deposit operations.
It is known that at present, more than 30 diverse types of deposits are used in overseas countries. Moreover, each of them has its own characteristics that most fully meet the needs of legal entities and individuals in the implementation of cash savings and pay for goods and services.
In Russia, in recent years, there has also been a tendency to develop various types of deposit services in relation to individuals and legal entities. At the same time, integrated banking services in recent years has been developed with the presentation of specific products, individual for each client.
Tools of deposit policy, as noted above, also include types of rates used by the Bank for Deposit Operations.
Interest rates are divided into the following types: fixed and floating - depending on the degree of stability; Real and nominal - depending on whether inflation and deductions in reserves are taken into account or not; positive and negative - depending on the protection of resources and impairment interest; Contractive rates and rates of interbanks - depending on the sector of the deposit market.
In addition, the deposit policy is reflected by the Bank pricing model. In foreign countries, six price formation models are distinguished in relation to deposit services provided:
- 1) the establishment of interest rates according to the "cost plus profit" method;
- 2) the settlement model for deposit deposits for market penetration, which means the proposal of high interest rates (above the market level) or low commission fees tariffs in order to attract as much new customers as possible;
- 3) pricing of deposits based on market interest rates;
- 4) Establishment of interest on deposits depending on the minimum balance on the deposit account or "conditional" pricing, i.e. Depending on the condition for compliance with the minimum level of deposit;
- 5) pricing aimed at attracting clients with higher income, i.e. VIP clients, since their service strategy is based on consolidating each of them a separate employee of the bank and providing individual services;
- 6) pricing, depending on the number and quality of services provided to customers (multifactor pricing method), i.e. Customers who have two services are more encouraged by lower tariffs, which ensures the fixation of the best customers.
Russian commercial banks use different pricing models. For large banks, the first model (cost plus profit) is available, for medium and minor banks, this model is costly, and they are guided mainly to market rates.
The factors affecting the real value of resources attracted by the commercial bank include:
- level of operating expenses;
- advertising costs;
- established by the Central Bank of the Russian Federation the norms of deductions to the fund of mandatory reserves;
- Terms and amount of funds raised;
- percentage of accrual and interest payments;
- temporary lag between the dates of attracting and placement of funds;
- the cost of creating a reserve for possible losses on loans;
- Distraction of funds from turnover on income transactions. The tactical deposit policy unit, as noted earlier, covers the mechanism for implementing a deposit policy, on which the effectiveness of the functioning of the bank.
Each of the elements of the Commercial Bank's Deposit Policy is closely related to the rest and is mandatory for the formation of an optimal deposit policy and the right organization of the deposit process (Fig. 7.2).
Fig. 7.2.
An important element of the mechanism for implementing a deposit policy strategy is allocation of appropriate functional units and deposit authorities.
In terms of attracting deposit resources, these procedures reflect the following: from whom they come and under what conditions, which characterizes the type of deposit and the structure of the bank's deposit portfolio as a whole.
The formation of the deposit portfolio of each bank is influenced by its liquidity and profitability policy, therefore banks are constantly maneuvered in the formation of a deposit portfolio between maintaining a certain share of deposits to demand and low-cost urgent and savings deposits, which have a significant proportion of basic (stable) deposits, practically insensitive to changing market interest rates. For Russia, the urgent structure of deposits is important, since it depends on it to satisfy the needs of customers in long-term investments.
When forming a deposit portfolio, the Bank must first of all determine whether it wishes to grow, expand its activities or ensure profit growth. Expansion of activities involves an increase in deposits with a proposal to depositors of the price determined by the market, i.e. Possible loss of profit.
In general, the deposit policy of commercial banks is currently not effective enough, it is still distinguished by instability and is dependent on potentially volatile sources. In the structure of the resource base of commercial banks there are many problems. These primarily include the narrowness of the resource base and the predominance of short-term liabilities. In addition, regional banks have limited access to the resources of interbank lending.
Increasing the effectiveness of the deposit policy of commercial banks could be facilitated by the following measures:
- Increasing the level of compensation payments on long-term deposits (over three years) to 3 million rubles. and shorter - up to 1 million rubles. These measures will contribute to increasing the sustainability of the resource base of banks;
- introduction of an increased amount of insurance for housing accumulative and pension deposits, which should stimulate long-term accumulation;
- Increasing the transparency of the tariff policy of credit institutions to which many customer complaints (insufficient transparency, the possibility of charging repeatedly fees for one service, etc.). Perhaps the Bank of Russia should issue a special provision on the procedure for calculating commercial banks of fees for the services provided by analogy with the provision of the Bank of Russia from 06.26.1998 No. 39-P on the procedure for accrual interest.
Send your good work in the knowledge base is simple. Use the form below
Students, graduate students, young scientists who use the knowledge base in their studies and work will be very grateful to you.
Similar documents
Essence and features of a commercial bank as a financial intermediary. Analysis of the banking services market on the example of deposit operations of commercial banks of the Nizhny Novgorod region. Banking risks associated with deposits; Classification of the main types of deposits.
thesis, added 04/22/2013
The economic essence of deposit operations and their role in the formation of resources of commercial banks. Classification of deposits, rules and procedure for issuing deposit operations. Analysis of the composition and structure of the resource base of the branch of OJSC ASB Belarusbank.
thesis, added 12/12/2009
Classification of deposit operations of commercial banks. Analysis of the formation of a commercial bank deposit policy in the banking resource management system, ways to optimize it. Development of activities aimed at attracting deposit funds.
thesis, added 04/21/2011
Theoretical foundations of the formation of deposit policies of commercial banks. Savings certificates and deposits. Place of JSCB "Probusinessbank" on the banking services market. Structure and nominal value of the deposit portfolio on currency attraction.
coursework, added 12/23/2013
Theoretical foundations of the organization of deposit operations of commercial banks. Policy of attracting deposits of second-level banks. Activities, structure, deposit policy JSC "Bank TuranAlem". Directions of the development of the deposit market of Kazakhstan.
course work, added 10.02.2011
Essence and types of bank deposits. Deposit policy as an integral part in the banking resource management system. Analysis of the deposit market in the contemporary state of the country's economy. Improving the organization of deposit operations.
coursework, added 11.06.2014
thesis, added 11/18/2009
Articles on the topic
