Ministry of Education and Science
Russian Federation
State educational institution
higher professional education
Faculty evening
DEPARTMENT OF BANKING
GRADUATE WORK
Deposit Policy commercial bank
SAINT PETERSBURG 2011
INTRODUCTION
The relevance of the work. Last year in the development of the Russian banking sector is characterized by an increase in positive trends. The importance of the banking sector in the country's economy is gradually increasing, and depositors' confidence in banks is growing. But along with the dynamic development of the banking sector, there is an accumulation of risks, which leads to a decrease in the efficiency of commercial banks.
The work of commercial banks to attract and place Money clients is carried out in an unpredictable and unstable external environment, therefore, banks, first of all, in order to solve the problem of work efficiency, it is necessary to balance interaction with clients, to properly organize the process of forming the bank's resource base. The main part of banking resources is formed in the process of attracting free cash from customers through deposit operations as well as by issuing its own debt. All types of deposit operations can be considered part of the banking portfolio. When managing a deposit portfolio, one should analyze its composition, volume, profitability, riskiness, make forecasts and quantify cash flows. All this is the determining factor in the deposit policy of a commercial bank.
To date, the problems of formation of the deposit policy of the bank, the study of its theoretical foundations, recommendations for practical application are devoted to an insufficient number of scientific works.
The object of study of the thesis is JSC "BALTINVESTBANK".
The subject of the thesis is the deposit policy of commercial banks.
The purpose of the thesis is to determine the essence of the bank's deposit policy, to study the processes of formation of the deposit policy, the mechanisms for its implementation, as well as the development of proposals for improving the deposit policy of OJSC "BALTINVESTBANK".
To achieve this goal, it is necessary to solve the following tasks:
explore the theoretical foundations of the bank's deposit policy,
consider the types of deposits of commercial banks,
study approaches to the formation of the bank's deposit policy,
analyze the deposit policy of BALTINVESTBANK OJSC,
The theoretical basis of the study was formed by legislative and regulations Russian Federation, Central Bank Russian Federation, scientific monographs, educational literature, dissertation research, economic periodicals.
The information base was the data of quarterly reports and internal regulations of JSC "BALTINVESTBANK", Internet resources.
Of practical importance are specific recommendations aimed at improving the deposit policy of BALTINVESTBANK OJSC.
1. THEORETICAL FOUNDATIONS OF THE DEPOSIT POLICY OF A COMMERCIAL BANK
1 Deposit policy of the bank: essence and role
Essence is the internal content, the properties of someone - something, discovered, cognized in phenomena.
Before defining the “inner content” of a deposit policy, it is necessary to understand what commercial Bank.
According to banking legislation, a bank is a credit institution that has the right to raise funds from individuals and legal entities, to place them on their own behalf and at their own expense on the terms of urgency, payment, repayment and holding settlement operations on behalf of clients. In accordance with its functions as a bank, a commercial bank accumulates (attracts) temporarily free funds in deposits, places them, spends settlement and cash services clients.
Figure 1. Main functions of banks
It is the function of accumulating funds that is one of the oldest functions. The mobilization of temporarily free funds and their transformation into capital bring their owners - individuals and legal entities, on the one hand, income in the form of interest, and on the other hand, form a basis for the bank to carry out active operations. And it is the borrowed funds that form the bulk of the bank's resources, so they should be considered as an independent object of banking policy.
All attracted funds according to the method of their accumulation can be grouped in the following way:
). deposits;
). non-deposit attracted funds.
But it is deposits that form the bulk of the resources attracted by commercial banks.
The structure of the resource base of Russian commercial banks as of January 1, 2011 is given below, %.
1.Own funds (capital) - 12.8%
2.Attracted resources - 65%
Including:
). Deposits of legal and individuals - 62,4 %
). Securities - 2.6%
Borrowed resources - 12.2%
The given data confirm the above words - most of the attracted funds of commercial banks are deposits of individuals and legal entities. And it is the attracted funds that form the basis of the resource base of banks (65% of all available bank funds).
Lavrushin gives the following definition of deposits - these are funds deposited in the bank by customers - individuals and legal entities, which are used by them in accordance with the account regime and banking legislation.
Each commercial bank, in order to achieve effective functioning and achieve its goals, must develop its own deposit policy, that is, a management strategy. But at the moment, the issue concerning the theoretical foundations of the concept of deposit policy, the principles of its formation and implementation, has not been studied enough.
Lavrushin defines the deposit policy as the bank's policy of attracting funds to deposits and effectively managing the process of attracting. He also defines it as the strategy and tactics of the bank to attract resources. Beloglazova has a similar definition, which says that each bank needs to develop a document regulating in commercial banks the processes of attracting temporarily free funds of organizations and the population to bank accounts in various kinds of deposits (deposits), which is primarily based on the strategic plan of the bank , on the analysis of the structure, current state and dynamics of the bank's resource base and should be based on the main prospects for its development and on the basis of documents that determine the main directions and conditions for the placement of attracted funds, such as the Bank's Credit Policy and the Bank's Investment Policy. This definition, in my opinion, is more complete and reveals the essence of the concept of deposit policy, and also clearly indicates the relationship with the policy of placing borrowed funds. But I still agree with Lavrushin that this is primarily a policy, that is, a set of measures and actions to achieve goals, and not just a document.
In my opinion, both authors adhere to a single approach to the bank's deposit policy, as part of the banking policy, which is interconnected both with its elements and with the strategic goal of the bank. We should also not forget about the banking (both external and internal) regulation of this process, which Korobova mentions in her works.
So, the deposit policy of the bank is developed in accordance with the strategic plan. The development of a deposit policy begins with setting the bank's goals, then, in order to achieve these goals, it is necessary to develop step-by-step actions and set specific indicators. Korobova G.G. offers "its own" model of formation of the bank's deposit policy, but more on that later.
First of all, the bank must decide with which depositors it will work, for whom it will develop its products. It is customary to single out clients with a high level of income, entrepreneurs, employees and workers, young people and students, as well as the elderly. Each of these categories is of more or less interest to the bank. So clients with a high level of income provide banks with especially large amounts of deposits, although the deposits of this group are not always the basis of the total mass of bank deposits. As a rule, the total mass of deposits is made up of the funds of workers and employees, as well as the funds of the elderly. Banks are interested in students and young people from a perspective perspective.
According to Russian legislation, the bank's clients are individuals and legal entities, that is, the bank can work either with a "retail" clientele, or with legal entities, or with both. As a rule, the liabilities of Russian banks are deposits of both individuals and legal entities. Thus, VTB Bank, which is focused on working with large legal entities, has 45.5% of deposits of legal entities in the structure of its liabilities, and its “retail” subsidiary - VTB 24 Bank - 66.4% of deposits of individuals and only 6.9% legal entities. It can be concluded that, depending on the goals and directions of its future activities, the bank chooses its clientele.
But banks operate in conditions of fierce competition, therefore, there is a struggle for customers. In order to attract customers, and with them the funds necessary for its activities, the bank must choose a strategy of behavior in the market. Thus, as of April 1, 2011, such banks as VTB 24 and Savings bank Russia.
Large banks tend to choose a competitor's strategy. For achievement competitive advantage in the market, they expand their branch networks, develop new products and services, set attractive deposit rates, and spend huge amounts of money on advertising.
The bank can focus on the development and improvement of certain types of services, and not compete with the leader in all areas of activity (for example, the provision of services via the Internet) - this is the strategy of a specialist. Medium and small banks are characterized by a catch-up strategy: banks do not develop new products, but implement those tested by other banks, thereby protecting themselves from unnecessary costs.
It is very important to develop tactical questions. Clients are attracted to the bank primarily by the image of a reliable and stable bank, as well as interest rates on deposits (deposits) and terms of service. This is also an important aspect in developing a deposit policy.
As mentioned earlier, the deposit policy must be documented. As a rule, it is a separate document, or a separate section of a document. credit policy, or is prescribed in the regulations on the procedure for attracting funds to deposits and on the opening and maintenance of client accounts.
This document may have the following content:
general provisions;
the goals of the resource policy of a commercial bank;
interaction of structural divisions of the bank;
the structure of the bank's resources;
the timing of raising funds and the terms of the contract;
a list of documents and the procedure for processing transactions for the sale by the bank of its own bills of exchange and bank certificates;
the procedure for attracting and formalizing operations to raise funds from credit institutions;
the procedure for calculating and paying interest on passive transactions;
contributions to the mandatory reserve fund of the Central Bank of the Russian Federation, control over compliance with economic standards;
the order in which documents are stored.
So, according to Korobova G.G., it is possible to develop the deposit policy of the bank according to the following scheme:
Rice. 2. Scheme for the development of the bank's deposit policy
The first stage involves determining the strategy of a commercial bank in the field of attracting resources. The second stage is aimed at solving the issues of managing deposit operations on the part of the bank's staff. At the third stage, specific operations of the bank are worked out in detail, as well as the organization of the deposit process at various stages of the implementation of the deposit agreement between the bank and the client. The final stage is the development of measures to manage the deposit process and control over it.
In my opinion, this scheme is good in that it was developed taking into account world practice in the field of deposit operations and can be adapted to Russian conditions, and also answers the main questions: who develops the deposit policy, how it is developed and by whom and how it is regulated .
So, the bank's management bodies, such as the bank's asset and liability management committee and the bank's board, as well as a number of structural divisions of the bank (management valuable papers, credit management, business development department, financial management, Treasury Department). It is these structures that Beloglazova singles out in her book. The board of the bank is responsible for the development and approval of the deposit policy, it also establishes the procedure and conditions for attracting deposits, controls the implementation of the deposit policy. Responsibility for making decisions on the formation of the deposit portfolio lies with the Assets and Liabilities Management Committee. Analyzing the structure of resources, their compliance in terms of terms and amounts with the bank's assets, the committee makes adjustments to the bank's deposit policy. Subdivisions such as the treasury and financial department of the bank determine how much deposit funds the bank needs: set the interest rates on deposits (deposits); determines the volume of reservations for attracted funds in the Bank of Russia; controls the bank's compliance with the risk standards for borrowed funds established by the Bank of Russia, etc. The following departments of the bank are directly involved in attracting deposit funds: Department of securities (engaged in the issuance of deposit and savings certificates, as well as own bills), the department of deposits of citizens, credit department or department of assets and liabilities (deposits of legal entities). This list of structural divisions is inaccurate. Each bank has its own internal organizational structure. The most important thing is to ensure that the work of all these bodies is interconnected in order to achieve the desired results.
The implementation of the bank's deposit policy should be based on the following principles:
· forming a resource base, banks must follow the legislative and regulatory requirements, as well as comply with the established restrictions on passive operations;
· passive operations of the bank should create conditions for the bank to receive profit;
· the attraction of resources, first of all, should provide the bank with its liquidity, therefore, special attention should be paid to attracting term resources, as well as the relationship between passive and active operations;
· when carrying out passive operations, to ensure the stability of the resource base, it is necessary to differentiate the attracted resources as much as possible both by subjects and types of attracted resources;
· Resources are attracted by maintaining a positive image of the bank, developing banking services and improving the quality of service.
Attracting customer funds into the bank's turnover is associated with certain risks that banks must take into account in their work, as well as be able to manage them in order to avoid negative consequences for liquidity and stability. The controlling body is the Bank of Russia, which sets certain limits for banks on the amount of funds raised. These restrictions operate in the form of such economic standards as:
maximum risk ratio per creditor (depositor) - N8;
standard maximum size attracting cash deposits (deposits) of the population - NI;
standard for the maximum amount of bank liabilities to non-resident banks
and financial institutions-non-residents - NIL;
risk ratio of the bank's own promissory notes - N13.
These standards are established in relation to the bank's own funds (capital). Thus, the N8 ratio is calculated as the ratio of the total amount of the bank's liabilities to one or a group of related creditors (depositors) to the bank's capital and cannot exceed 25% of its value. At the same time, the total amount of the bank's liabilities includes maximum value(for one contributor or a group of related creditors) of the balance of funds:
on settlement (current), correspondent accounts and demand deposit accounts;
on time deposit accounts, time deposit accounts of individuals, and
also accounts for received credits and loans, deposits in precious metals;
in the accounts of other borrowed funds).
The NI norm limits the total aggregate amount of monetary deposits (deposits) of the population on the balance sheet of a commercial bank to the amount of its own funds.
The bank's capital also limits the amount of its own bills of exchange and banker's acceptances issued by the bank, as well as 50% of its off-balance sheet obligations arising from the endorsement of bills of exchange, avals and bill of exchange mediation (norm H13).
The total amount of the bank's liabilities in rubles and foreign currency, as well as in precious metals to non-resident banks and non-resident financial institutions (NFI) may exceed the amount of own funds (capital) of the bank no more than 4 times.
Establishment by the Bank of Russia for commercial banks of risk ratios for attracted funds together with the capital adequacy ratio, as well as liquidity ratios and credit risk, is aimed at protecting the interests of depositors and creditors, ensuring economic conditions sustainable functioning of the banking system. In addition, banks must create special deposit insurance funds in order to guarantee the compensation of funds to depositors in the event of bankruptcy, thereby ensuring the protection of the deposit. In addition to deposit insurance, it is very important for depositors to have open access to information about the activities of commercial banks and the guarantees they provide. In order to assess the risk of future investments, when deciding on the placement of free funds available to the investor, he must be sufficiently informed about financial condition jar. Such information can be provided by special agencies and bureaus that compile ratings for banks.
In addition, the banks themselves should provide complete information about themselves to their creditors and depositors, such as: the amount of the authorized capital, the amount of own funds, information about the founders, information about development prospects, performance results, etc. First of all, this applies to individuals who choose banks to deposit their funds.
1.2 Types of commercial bank deposits
In order to be able to issue loans to banks, it is necessary to have an appropriate resource base, the main source of which is deposits or customer deposits.
First of all, it is necessary to define the term "deposit". Translated from the Latin depositum is a thing deposited. In many of the works I studied, the concepts of "deposit" and "contribution" are considered as identical.
As we already know, the bulk of the bank's resource base is made up of borrowed funds. The Bank raises funds through the following operations:
opening and maintaining accounts of legal entities,
Attraction of deposits of individuals,
issuance by the bank of its own debt obligations.
Based on this, we can give the following definition of deposits - these are the funds of individuals and legal entities attracted as a result of the bank's operations to open and maintain customer accounts, accept deposits (deposits), issue its own securities in the form of debt obligations (deposit and savings certificates , bills and bonds).
Individuals or legal entities deposit their free cash in the bank in order to receive income in the form of interest. Such relations are fixed by an agreement bank deposit, which can be executed by issuing a savings book, savings or deposit certificate or other document to the depositor that meets the requirements of the law, banking rules and business practices.
In order to attract cash deposits from legal entities, banks must have a license to carry out banking operations. Banks, depending on the licenses they have, can take deposits only in rubles or in rubles and foreign currency.
In order to attract deposits of funds from individuals, the bank must have one of the following licenses:
) to attract deposits of individuals' funds in rubles;
). to attract deposits of individuals' funds in rubles and foreign currency;
). general license.
A bank may obtain such licenses after two years from the date of state registration and sustainable work in the banking services market. Thus, a higher financial stability of banks working with the funds of the population is ensured.
There is a huge variety of types of deposits in the banking services market. This will be explained by the desire of banks to meet the demand of various customer groups for banking services, thereby attracting their savings and free cash to bank accounts.
Deposits can be classified according to various criteria: terms, sources of deposits, categories of depositors, forms of withdrawal of deposits, purpose, degree of return, etc.
Based on the category of depositors, deposits of legal entities and individuals can be distinguished. There are a number of differences between these contributions. So, deposits of individuals are formalized by a bank deposit agreement, which is a public agreement (a public agreement is an agreement concluded commercial organization and establishing its obligations for the sale of goods, work performed, services that it must, by the nature of its activities, carry out in relation to everyone who turns to it (Article 426 of the Civil Code of the Russian Federation)). Such an agreement is characterized by uniform conditions for all investors. For legal entities, the contract defines individual conditions accepting their contribution.
There is the following classification of client funds by terms of attraction:
funds on settlement and current accounts;
funds on demand accounts;
term deposits and deposits.
Customer funds on settlement (current) accounts and accounts of correspondent banks are the largest source of attracting resources to the bank's turnover. In their economic essence, these accounts represent demand deposits. Withdrawal of funds from these accounts, transfer to the account of another person occurs without any restrictions (in whole or in part), at any time, at the first request of their owners. Therefore, interest rates on demand accounts are set by the bank at minimum level. The operation of such accounts is regulated by bank and correspondent account agreements. Such accounts are most often used for settlement transactions, less often for savings. Economic entities open such accounts in connection with the need to make settlements, make payments, receive funds at their disposal, using banks as intermediaries. Write-off, crediting of funds to accounts on demand can be made in cash, check, transfer, other settlement documents. Write-offs of amounts of money from customer accounts are reflected in debits, crediting - in credits. The settlement accounts of legal entities from counterparties receive proceeds from the sale of goods, works, services, income from non-sales operations, the amount of loans received from banks, as well as the expenditure of these funds on payments to suppliers, the payment of taxes to budgets of various levels, transfers to various extra-budgetary funds, payments wages workers and employees, repayment of bank loans and interest on them, etc.
Demand deposits make up the main part in the structure of attracted funds of commercial banks, as they are usually the cheapest source of banking resources.
The balance of funds on settlement accounts of legal entities is mobile. The owner at any time can withdraw funds from the account or transfer them to the accounts of his counterparties by commodity transactions.
Therefore, commercial banks, in order to maintain their liquidity while meeting the requirements of the owners of these accounts, must constantly keep their highly liquid assets at a sufficient level (money on the bank’s cash desk and on a correspondent account with the RCC of the Bank of Russia, in government securities, etc.). But despite the high mobility of funds in demand accounts, commercial banks take on a certain risk and use these deposits as sources of effective credit resources.
Among demand deposits, one can single out a deposit for settlements using bank cards. The peculiarity of such a deposit lies in the right of the account holder to make settlements and receive cash. As a rule, there is a limit on the receipt of cash. The use of bank cards is undoubtedly convenient for customers, and it also allows the bank to accumulate significant funds without paying high interest. It is calculated that when wages are credited to card accounts for half a year after opening an account, account balances are accumulated equal to approximately two monthly earnings, while interest is charged at the rates established for demand deposits. However, the use of this type of resources requires large initial costs for special equipment, software, and for conducting an advertising campaign to attract customers. Balances on settlement, current accounts, demand deposits and deposits for settlements using bank cards are considered the most mobile banking resources.
At the same time, legal entities can place a stable amount of their temporarily free funds in the bank on time deposit accounts. The possibility of withdrawing funds from the account by the owner at any time is, as mentioned earlier, the reason for setting the lowest rates on such deposits. But, despite the high liquidity of such funds, they represent a stable resource for commercial banks. Therefore, banks that are interested in financially stable customers who have permanent funds in their accounts should strive to attract customers by providing additional services account holders, as well as by improving the quality of service.
world banking practice, in addition to common species demand deposits, such types of demand deposits as nau accounts and certified check accounts (USA) are known.
A feature of sci-accounts is that they can be written out settlement documents for the benefit of third parties. Such accounts are opened only to individuals and non-profit firms. Nau accounts are an excellent combination of the principle of liquidity and the possibility of obtaining profitability in the form of interest.
Certified check accounts are demand deposit accounts where funds are set aside for payment of certified checks. The latter are checks on which the bank makes a special note about the availability of funds to pay them.
To determine the possibility of using demand deposits in the implementation of urgent active transactions, commercial banks should conduct a quantitative analysis of the deposit base. To do this, you should calculate the indicators that characterize the deposit base:
) The level of settling of funds, showing the growth rate of the resource base for the analyzed period. The calculation formula is as follows:
Uo \u003d (Ok-He) / P
where Uo is the level of subsidence,
OK - balance at the end of the period,
He is the remainder at the beginning of the period,
P - receipts on deposits during the period
The higher the level of deposit settling, the better for banks. The zero value of the indicator indicates the invariance of the contribution, the growth of the numerical value of the indicator indicates that the inflow of deposits exceeds their outflow.
) Average holding period - reflects the average number of days during which funds are kept on demand deposits. This indicator makes it possible to determine the term for placing attracted resources in working assets according to the formula:
C \u003d Osr * D / V,
Where C is the average shelf life,
Osr - average balance during the period,
D is the number of days in the period under review,
B- withdrawal or transfer of funds during the period
) Irreducible balance of demand deposits - a constant irreducible share of customer funds that can be placed in profitable working assets:
But = Osr / P
Where No is the irreducible remainder,
Osr - average balance during the period
P - receipts on deposits during the period.
Term deposits are funds of individuals and legal entities deposited in a bank for a fixed period. Such accounts are not used for making current payments. During the term of the deposit, additional contributions from its owner - a legal entity to the deposit account are not accepted, except for such a type of term deposit as a term deposit with additional contributions. The return of funds for legal entities is carried out after the expiration of the term, unless otherwise provided by the deposit account agreement, but cash withdrawals from the accounts are impossible, funds from the deposit account can only be directed to the current account. Legal entities do not have the right to transfer funds on deposits to third parties.
Deposits of individuals are formalized by a bank deposit agreement. An unlimited number of bank deposit agreements can be concluded with the same depositor and, accordingly, an unlimited number of accounts can be opened. The bank deposit agreement provides for the following rights of the depositor: disposal of his deposit by proxy, payment of the deposit to a third party, bequest of the deposit in the prescribed manner, prohibition for the bank to change unilaterally interest rate on a term deposit. The Civil Code of the Russian Federation provides for the return of deposits to citizens at their first request. If the agreement contains a condition that provides for the citizen's refusal to receive his contribution on demand, it shall be considered invalid. In case of early withdrawal of a term deposit by the depositor, the agreement must provide for the payment of interest to him not lower than on a demand deposit.
The basis for concluding a bank deposit agreement is a written application of the depositor, but the agreement is considered concluded from the moment the deposit is received by the bank. Funds can be deposited by a citizen in cash at the bank’s cash desk or credited to his account in a non-cash manner (by transferring funds by a third party or by the depositor himself to a term deposit from his demand account opened with this or another bank). Citizens when opening a deposit (regardless of its type) can be issued a savings book (or a cash deposit book), which can be nominal and bearer. A bearer savings book is recognized as a security. Information about depositors, deposits and their bank accounts, as well as about transactions with the latter, is a banking secret.
Banks may enter into savings deposit agreements with individuals for a specified period. The interest paid on savings deposits is lower than the interest on term deposits. There are several types of savings deposits that are opened for individuals: term deposits; urgent, with additional contributions; current; target, etc. Such deposits are convenient for banks in that they are usually long-term, and therefore can serve as a source of long-term investments.
Depending on the placement period, there are deposits for up to 30 days, from 31 to 90 days, from 91 to 180 days, from 181 to 1 year, from a year to 3 years, for a period of more than 3 years. Some banks also offer legal entities to place funds for a minimum period of 7 days. A term deposit for a bank client is not only potential money, but also capital. For time deposits and savings deposits, the interest rate is higher than for demand deposits, and the longer the term and the larger the size of the deposit, the higher it is.
Term deposits support the bank's liquidity to the greatest extent. Therefore, in order to ensure the stability of a commercial bank, it is desirable that the share of term deposits in bank deposits was 30-36%. Also, when managing time deposits, one should distinguish between large and small depositors, as their behavior is excellent. Usually, the behavior of small depositors is easier to predict, since they react more slowly to changes in the market situation (lack of money, rising interest rates and the emergence of new products from competing banks), unlike large clients. The selection of the largest depositors for a given bank is made on the basis of the average balance of turnover for the period.
You can also determine the following indicators: the percentage of the largest customers, the share of this group in the total turnover and in the total average balance. The higher this proportion, the stronger bank depends on the activities of the largest customers. For a bank, it is preferable that the bulk of deposits be provided by small and medium-sized customers.
Summarizing the above, we can distinguish the following differences between a demand deposit and a term deposit:
1)Term deposits cannot be used for settlements and settlement documents are not issued for them;
2)The difference in the rate of turnover of funds: on demand deposits, the rate of turnover is much higher;
)Interest on term deposits is higher, therefore, they are more expensive for the bank;
)For time deposits, a requirement is established for the depositor to notify the bank in advance of the withdrawal of funds, especially for large and especially large deposits;
)The rate of deductions to the mandatory reserve fund for demand deposits is higher than for term deposits.
Term deposits can also be issued by deposit and savings certificates, or a bank bill. Bank certificates of deposit are issued to legal entities, savings certificates - to individuals. Certificate holders can be both residents and non-residents.
Savings and deposit certificates are securities certifying the amount of the deposit made to the bank and the right of the depositor (certificate holder) to receive the deposit amount and conditional interest in the bank that issued the certificate or in any of its branches after the expiration of the established period.
Not all banks have the right to issue certificates. In order to have such a right, the bank must comply with the following conditions:
implementation banking for at least two years;
publications annual reporting, confirmed by an audit firm;
compliance with banking legislation and regulations of the Bank of Russia;
compliance with mandatory economic standards governing the activities of commercial banks by the Central Bank of the Russian Federation;
availability of a reserve fund in the amount of at least 5% of the actually paid authorized capital;
compliance with the mandatory reserve requirements of the Central Bank of the Russian Federation.
The Bank is entitled to place deposit (savings) certificates only after registration of the terms of issue and circulation of certificates in the territorial office of the Bank of Russia.
Certificates can be issued only in the currency of the Russian Federation, circulation of which is possible only on its territory. They must be urgent. The use of bank certificates as a means of payment when paying for goods and services is not allowed. Main function this security is the accumulation of funds. There are two types of bank certificates - nominal and bearer. The amount of the deposit and the accrued income, which depends on the amount of the established interest rate, the term and the amount of the deposit made to a separate bank account, are paid out upon the expiration of the certificate.
The right to claim a certificate may be assigned by the owner of the certificate to another person. Assignment under a bearer certificate is carried out by simple delivery, and under a nominal one - by means of an endorsement (cession), which is drawn up on the reverse side of the certificate form. It is a bilateral agreement between the person establishing his rights (assignor) and the person acquiring these rights (assignee). The certificate is issued only after the transfer by individuals and legal entities of the appropriate amount to special bank accounts that are designed to record the issued certificates. The interest rate on bank certificates is set by the Board of the Bank.
Upon maturity, the owner must present the certificate to the issuing bank along with an application for claiming funds on it, indicating the account to which they should be credited.
Early presentation of the certificate for payment is possible. In this case, the owner of the certificate receives the amount of the deposit indicated in the certificate and the interest at the demand rate effective in the bank at the time the certificate is presented. In the event that the term for receiving a deposit under the certificate is overdue, the bank pays the amount of the deposit and interest on it at the first request of the owner of the certificate, while the accrual of interest stops after the expiration of the period for claiming amounts under the bank certificate.
Certificates have significant advantages over time deposits, which are issued by deposit agreements. The probability of a large number of financial intermediaries in the distribution and circulation of certificates expands the circle of potential investors of the bank, and due to circulation in the secondary market, the certificate can be transferred (sold) ahead of time by the owner to another person with some income for the time of storage and without changing the volume of the bank's resources. With early withdrawal of a term deposit, the owner loses income, and the bank - part of the resources. The disadvantage of certificates in comparison with time deposits (deposits) is the increased costs of the bank associated with the issuance of certificates as a type of securities.
A bank bill is a security containing an unconditional promissory note drawer (bank) on payment of a certain amount to the holder of a bill at a specific place and a specified period. The issue and circulation of bills of exchange (including bank bills) are regulated by the Civil Code of the Russian Federation and Federal Law No. 48-FZ of March 11, 1997 “On Transferable and Promissory Notes”. Banks are guided by these documents when independently developing the conditions for the issuance and circulation of bills of exchange, which, unlike the conditions for the issuance and circulation of bank certificates, are not registered anywhere. Banks have the right to issue only promissory notes, both interest-bearing and discount, and place them among legal entities and individuals.
When presenting an interest-bearing bill to the bank for redemption, the first drawer (or the last one, if there is an endorsement on the bill) has the right to receive interest income for the actual period of his funds in the bank's turnover.
A discount note receives a discount income, which can be defined as the difference between the face value of the bill at which it is redeemed and the price at which it is sold to the first bill holder.
Bank bills have huge advantages. First of all, it is a highly liquid medium of circulation, since it can be transferred by endorsement; secondly, bills of exchange can act as a means of payment in settlements for goods and services between legal entities and individuals; thirdly, a bill is a highly profitable store of value; fourthly, they can serve as collateral when customers apply for loans in other banks. Investment by clients of their free funds in bank bills is a very attractive and profitable business for them, and for banks - a stable and independently regulated resource of an urgent nature for the purpose of subsequent placement in bank assets (credits, currency, securities, etc.). Banks are not prohibited from issuing currency bills, which contributes to the accumulation of credit resources in foreign currency.
We should also talk about classification by type of deposit currency.
Ruble, currency and multicurrency deposits are allocated. A feature of multicurrency deposits is to minimize the risk of losses for depositors associated with changes in exchange rate difference foreign currencies against the ruble, as well as cross-rates of foreign currencies. A depositor who has entered into such an agreement with the bank and deposited funds in a specific currency (for example, in euros) has the right to convert the deposit from one currency to another without withdrawing funds from the account at a predetermined degree of frequency (usually once per month or quarter). The entire deposit amount can be converted from one currency to another - the so-called full conversion, or a part of the deposit amount is converted, depending on the terms of the agreement. Interest on this type of deposit is calculated in the currency in which the deposit is currently denominated. If, as a result of partial conversion, the deposit amount is expressed in several currencies, then interest on each part of the deposit is calculated in the corresponding currency.
As part of the deposit policy, banks should develop their own interest rate policy. It should be noted that banks have the right to set their own interest on borrowed funds. The bank's interest rate policy is influenced by external and internal factors. External factors include:
· State financial market
· inflation rate
· Demand for banking services
· Level of banking competition
· Policy of the Bank of Russia and the Ministry of Finance of the Russian Federation
· Regional specifics
· The state of the social environment
Internal factors include:
· The range of services provided by the bank
· Qualification and experience of staff
· The composition of the bank's clients
When forming the interest rate policy, the bank takes into account that different sectors of the financial market are characterized by different interest rates, in particular:
· Rates money market, used in short-term lending operations between financial institutions (including state ones) - this is the official discount rate, the rate on short-term interbank loans)
· The rates of the securities market are mainly the rates of return of various bonds at the time of their issue and the consequences in the secondary market
· Rates on bank operations with non-bank borrowers and lenders are rates associated with the provision and attraction of funds to these borrowers and lenders.
The interest rate policy of the bank is determined by the duration of the gap between the terms of the release of attracted and placed funds and fluctuations in interest rates, the level of interest risk, which is expressed in the risk of losses as a result of the excess of interest rates paid by the bank on attracted funds over the rates on loans.
When setting interest rates on passive operations, the bank takes into account the following factors:
· Interest rates vary depending on the terms, the amount of funds raised, the category of the client, the currency of funds, etc.
· The size interest rate depends on the official discount rate of the Central Bank of the Russian Federation and reserve requirements.
· The value of the interest on attracted resources must be real, i.e. take into account the level of interest rates on active operations and margin.
Using various methods of calculating and paying interest, banks increase the interest of depositors in placing their funds. There are the following types of interest rates:
simple and complex;
permanent and floating.
In banking practice, the calculation of income on deposits most often occurs by accruing simple interest. This method involves choosing as the basis for calculating the actual balance of the deposit. Calculation and payments on the deposit take place in accordance with the interest stipulated by the agreement and on time. Simple interest can be paid in two ways: interest is repaid simultaneously with the payment of the principal amount at the end of the term (the most common option), or interest is paid periodically, and the principal amount is repaid at the end of the term of the deposit agreement.
Compound interest involves compounding interest on interest. When the billing period expires, interest is calculated on the deposit amount and the resulting amount is added to the deposit amount. Thus, in the next billing period the interest rate is applied to the new base increased by the amount of previously accrued income.
1.3 Approaches to developing a deposit policy
The development of a deposit policy should include several strategic approaches, the application of which will allow solving the following applied tasks:
expansion of the permanent clientele of the bank
increase in the total amount of funds raised on favorable terms for the bank.
The first approach is based on prioritizing the choice of client groups for a particular bank.
The first variant of this approach assumes that banks are oriented towards VIP clients. The implementation of this option involves opening super-profitable accounts for individual investors in order to solve problems in another area financial activities. At the same time, a commercial bank is not interested in the market of deposit operations. In this case, the bank focuses on legal entities, namely corporate structures with a high annual turnover. In this case, VIP accounts are opened for owners and top managers of enterprises, and in addition to standard services also additional services favorable conditions(as a rule, these include lending and tax consulting). The use of this option gives a chance to take a stable position in the market, which is occupied only by famous banks.
This method is suitable for newly created banks with an average equity capital, whose permanent clientele was chosen by a limited number of enterprises. But there are also disadvantages: it is impossible for the bank to profitably place the funds attracted to these accounts, which leads to unprofitability.
The second option is designed for a narrow circle of people with exceptionally high incomes. This method involves the exclusion of the mass clientele and the allocation of a certain circle of persons (the so-called "elite" investors) who can afford large cash deposits. The bank achieves this result by limiting the minimum term and size of the deposit. On the one hand, this provides the bank with the most favorable structure of deposits and simplifies the further placement of funds raised on them. On the other hand, it increases the level of costs both for attracting funds for deposits and for the provision of additional services. In domestic practice, this method is inappropriate, since the Russian private depositor does not trust his savings to "our" banks, preferring to keep them abroad.
The third option is aimed at certain categories of customers.
It is based on the restriction of the bank's client groups in the deposit services market. In this option, the priority is not the "financial solvency" of clients, but to which business area or social group of individuals they belong. That is why all attention is paid to marketing tools, not financial ones. This allows you to work along with large banks due to the fact that not standard, but exclusive service packages are offered, designed to meet the needs of customers. When providing such services, consideration should be given to further financial perspective and stable clientele in this market segment. Such services are quite acceptable for credit institutions in large cities, where they can offer just a narrow and special profile of services.
The fourth option involves targeting a mass clientele. This option is based on attracting the maximum number of depositors on normal terms and not claiming "exclusive" services and offers of the bank. At the same time, various types of deposits with different service conditions are being developed. This makes it possible to increase the resource base, but at the same time limits the provision of an optimal deposit structure. It is also necessary not to forget that the mass clientele implies the presence of a branch network, which requires large financial investments. Network services can both empower and incur losses. A good example is Sberbank of Russia, which in the 1990s, due to economic crisis in order to avoid large losses, he closed the branches of the most disadvantaged regions. The use of this option is available only to large banks with a developed branch network. A significant disadvantage is also the complexity of the process of managing a huge number of deposits.
The second approach is related to the definition of methods for attracting customers for a particular bank.
The priority of the first option is to focus on price methods. This option creates acceptable conditions that will attract a mass clientele. As a rule, these are individuals and small business entrepreneurs, through which credit institutions can get a rapid expansion of the serviced market segment. As a rule, free related services are not provided at this level, but there are exceptions for VIP clients. The use of this method leads to an increase in interest expenses for the formation of the resource base, which reduces the overall profitability of the bank, as well as increases the likelihood of interest risks. If we consider this option in Russian banks then an artificial increase in the interest rate may not attract, but scare away potential customers. This option is well suited for newly created banks that seek to quickly occupy their niche in the service market.
The second option is aimed at expanding the number of additional services. This option focuses on non-price methods of competition. The bank offers a "package service", which includes service or related services for different categories of customers. This attraction of customers allows you to avoid additional interest costs. If you take a standard credit institution, then it will have to expand its profile of services, which will entail additional costs for marketing activities to determine the needs of various clients and training new staff in the right profile. This option is appropriate for large banks that have been operating on the market for a long time and have experienced a trend towards an outflow of clientele due to the fault of “young” competitors.
The third option focuses on attracting customers through a corporate service scheme. This option works according to the well-known marketing technique to attract customers through the employer. If an enterprise is a regular customer of a bank and uses settlement and cash services, then, as a rule, both card and deposit accounts are automatically opened for employees of this enterprise. On the one hand, this greatly increases client base at the expense of individuals. It is also impossible to ignore the factor that such a structure of deposit accounts will be unprofitable for a bank due to the short-term nature of the funds that are attracted. This option is quite acceptable for large banks that issue their own electronic cards.
The third approach is based on the interest rate management method. The first option focuses on fixed interest rates. This option involves specific and fixed interest rates that are formed in the process of concluding an agreement. Such rates cannot be changed during the entire stipulated period. This allows the two parties to maintain stability on the basis of the agreement, while allowing the bank to plan ahead for interest expenses. On the other hand, this can have a bad effect on a flexible interest rate policy, since in our time, when the external environment does not have a clear stability, and inflation rates, as a rule, are poorly predicted, as is the exchange rate. national currency.
The second option specializes in "floating" interest rates. Under this option, only short-term deposits can have a fixed interest rate. As a rule, these are demand deposits and deposits for a period of 1 to 3 months, but even so, the degree of inflation must be taken into account. Longer-term deposits are subject to change according to the principle of "floating interest", which depends on the external economic environment. This allows the depositor to reduce the risk, and the bank to control interest risks, regardless of external and internal factors in the market. The only inconvenience for large banks is the additional time spent on servicing such accounts. In Russia, as a rule, there are complications with recalculations of such accounts for the reason that there is no clear regulation for recalculation. If we take as an example the Central Bank of Russia, which, when changing the interest rate, proceeds from inflation data provided by the government, which are far from always similar to the situation on the market. This option is appropriate for any banks operating in an unstable macro environment, provided there are objective criteria for changing interest rates.
Summing up the above theoretical material, we can say that the bank's deposit policy is important part the bank's policy to attract temporarily free funds of organizations and the population to bank accounts in various kinds of deposits (deposits), which is primarily based on the strategic plan of the bank, on an analysis of the structure, current state and dynamics of the bank's resource base and should proceed from the main prospects for its development . This process must be regulated both by the state and by internal banking regulations and rules. Various structural divisions are involved in the development of the deposit policy. Each bank independently determines for itself the structure of attracted resources, the terms, procedure and conditions for attracting funds, by developing deposit products that are attractive to customers. It is deposits that are the main source of resources for banks, but, being a source of formation of resources, they also have some disadvantages: by attracting funds to deposits, the bank incurs certain monetary costs, and also bears certain risks associated with a change in the behavior of depositors. Nevertheless, the competition between banks in the market of credit resources forces them to take measures to develop services that help attract deposits.
commercial bank deposit
2. Deposit policy of a commercial bank (on the example of OAO Baltiysky investment bank»)
1 General characteristics of OJSC "Baltic Investment Bank"
Before considering the bank's deposit policy, it is important to give a brief description of it, it is necessary to know its history.
BALTINVESTBANK was created in the form of an open joint stock company, carries out its activities on the basis of the General License of the Bank of Russia No. 3176 dated May 20, 2003. Location of the Bank: 197101, St. Petersburg, st. Divenskaya, house 1, letter A. The authorized capital of the Bank is 256,758,192.07 rubles.
In December 1994 BALTONEXIM BANK was established. This is how the activity of the current BALTINVESTBANK started, and the start was very good: after a year of operation, many enterprises and organizations of St. Petersburg were clients of the bank, and the bank also serviced the issue of State city short-term bonds of the administration of St. Petersburg.
A year later, the Bank becomes a member of the worldwide interbank telecommunications system - S.W.I.F.T. In 1996, the bank began to work with customs, which became one of the most important activities of the bank. So, already after 2 years of work, the bank has the customs accounts of the North-Western Customs Administration and the accounts of the Territorial Road Fund of St. Petersburg. In 1997, the Russian Trading System assigned the Bank the status of a dealer, at the same time it becomes authorized bank governments Leningrad region.
In the difficult years of the financial crisis in Russia, the Bank not only does not suffer losses, but even attracts new customers, and also opens its first branch in Vyborg, and the next year the second one in Arkhangelsk.
In 1999, such St. Petersburg power engineering enterprises as LMZ, ZTL, and Elektrosila became strategic financial partners of the Bank.
In 2001, the Bank signs an agreement to provide financing for the supply of heat for the housing stock of St. Petersburg and enterprises with the city administration, OOO Peterburgregiongaz, JSC Lenenergo and State Unitary Enterprise TEK SPb.
In 2002, the Bank becomes the first to issue customs cards in St. Petersburg.
BALTINVESTBANK received its name in 2003. In the same year, the first additional office of the Bank was opened in St. Petersburg, which was the beginning of the development of its retail trade.
year - The Bank develops a new strategic direction: programs for lending to small and medium-sized businesses are being developed jointly with the Russian Bank for Development. In the same year, BALTINVESTBANK introduces new system term deposits.
In 2005, a new 2-year development strategy for the Bank was approved: the main task is the expansion of business and entry into the TOP-100 largest banks in Russia. At the same time, the Bank was included in the register of participants in the deposit insurance system. The next year, the Bank is actively expanding its network - 8 new additional offices were opened in St. Petersburg, Arkhangelsk, Samara, and a new branch of the Bank was opened in Moscow. BALTINVESTBANK, according to the results of the competition "Financial Petersburg", is recognized the best bank 2006 for servicing legal entities. Roland Berger Strategy Consultant, the largest international consulting company, is developing a new 5-year development strategy for the Bank for 2007-2011. Its main goal is to position the Bank as an inter-regional player with an emphasis on lending programs for small and medium-sized businesses.
In 2007, only 9 additional offices were opened in St. Petersburg, Samara, the Arkhangelsk region and the first operational office in Tolyatti.
At the end of the year, BALTINVESTBANK entered the TOP-100 most profitable and efficient banks in Russia.
In 2008, the Bank increases its capital from 1 billion rubles to 3.358 billion rubles by carrying out an additional issue of shares. In the same year, BALTINVESTBANK places its debut issue of bonds in the amount of 1 billion rubles on MICEX.
As of the end of 2008, the Bank is completing the opening of a new network of offices in St. Petersburg, opening an additional branch in Krasnodar and seven more operational offices in other cities of Russia.
In 2008 the Bank chose the investment line of business. He becomes the General Agent for the issue and placement of bonds in the Kaluga region, Yakutsk, Volgograd, Tomsk.
In 2009, the Bank consistently implemented long term strategy of its development. Based on the results of the year, the Bank's network includes 5 branches and 42 offices in different cities of Russia.
Actively developing, the Bank managed not to lose its positions during the crisis years. Thus, during the crisis year, the Bank was able to rise in the banking ratings of Interfax and RBC by 12 and 9 positions, taking positions 78 and 79, respectively.
The volume of the authorized capital of the Bank at the end of 2010 amounted to 256,758,192 rubles due to the ninth additional issue of shares. In the summer of 2010, BALTINVESTBANK opens a new branch in the city of Yekaterinburg, which operates as a universal division of the Bank to serve legal entities and individuals in all areas of banking.
In order to achieve the goal of expanding the Bank's business, in 2010 the management is reorganizing the management structure by selling the Bank's products. Thanks to this, a single structure appeared that is able to control the sales of retail and corporate business. Within this structure, an analytical department was created. Its main task is the study and monitoring of banking services, as well as the development and promotion of new competitive products.
During 2010, the Bank is successfully developing one of its key areas of activity - lending to small businesses. To this end, the Bank is building up cooperation with the Russian Development Bank, the Government of St. Petersburg and other regions. In 2010, the Bank received 7 tranches totaling RUB 710 million for lending programs for small and medium businesses from RBD.
In addition, in 2010 the National Banking Award awards BALTINVESTBANK in the nomination "Leader in lending to small and medium-sized businesses."
In 2010, the Bank significantly strengthened its position in the sub-federal and municipal bond market. According to the Cbonds agency, BALTINVESTBANK became one of the largest organizers of sub-federal and municipal bonds and ranked fourth in terms of placements. In 2010, the Bank was the organizer of 13 issues of seven issuers.
Every year the Bank participates in various charitable projects, such as financing the complete restoration of the sculptural ensemble of Peter Klodt "The Taming of the Horse" on the Anichkov Bridge in St. Petersburg and the Rostral Columns on the spit of Vasilyevsky Island.
BALTINVESTBANK provides a wide variety of services to legal entities and individuals. For individuals, the following types of services are provided: deposits in rubles and foreign currency, various loan programs, Money transfers, payment for cellular services, opening and maintenance plastic cards, operations with cash currency, seifing services and others.
In servicing legal entities, the bank also offers a wide and profitable range of services, such as: settlement and cash services, lending, offers favorable conditions for the placement of temporarily free funds, carries out operations with non-cash foreign currency, issues customs cards, provides bank guarantees, offers various payroll and corporate projects, as well as the possibility of remote banking services. In addition, the bank participates in long-term financing investment projects. It can also be noted that BALTINVESTBANK performs the functions of an agent currency control.
As mentioned above, the main strategic direction of the Bank's activity is servicing small and medium-sized businesses, but since 2010 the Bank has been striving to increase the share of individuals in the structure of deposits for the purpose of funding in the short-medium term. In 2010, the volume of funds of individuals in the Bank increased by 45:% and as of January 1, 2011 amounted to 13.88 billion rubles (Fig. 3).
Fig.3. Attracting funds from individuals
It can be seen from the diagram that the Bank is successfully following the chosen strategy; This was achieved by developing the most attractive range of deposits for individuals.
There was also an increase in the volume of deposits from legal entities from 11,874 million rubles in 2008 to 25,861 million rubles, but if in 2008 attracted funds from individuals accounted for a third of legal entities, then in 2011 they already accounted for half.
At the moment, the Bank is among the 100 largest banks in Russia in three main rankings. Yes, by ranking RBC agencies, in the period from 2006 to 2011, the Bank rose from 147th place to 72nd, and net assets increased from 6608 million rubles to 50310 million rubles, which is more than 8 times. The growth of BALTINVESTBANK's business exceeds the average market growth rates of the banking sector, which explains the stable upward movement in the rankings. Also, successfully following the chosen strategy, providing quality services to small and medium-sized businesses, in 2011 the Bank increased its own funds by almost 1,000,000 thousand rubles and amounted to 4,798,007 thousand rubles as of 1.01.2011 (as of 1.01.2010 - 3,699,694 thousand rubles).
Types of deposits of BALTINVESTBANK
The most important in the resource base of OJSC BALTNVESTBANK is the deposits of legal entities. So as of 01/01/2011. attraction from legal entities amounted to 38% of the total structure of liabilities. This value is quite understandable, since the priority direction in the Bank's activity is work with legal entities.
Fig.4. Diagram of the structure of the resource base of "BALTINVESTBANK"
It should be noted that in the previous year, raising funds accounted for 57% of the structure of the bank's liabilities, of which 30% accounted for raising funds from legal entities, therefore, the increase in the volume of funds raised in 2011 was due to an active policy in the field of raising funds from legal entities.
Let's consider what types of deposits and conditions for them are offered by the Bank for legal entities as of 1.01.2011 (Table 1)
Table 1.
Types of deposits of "BALTINVESTBANK" for legal entities
Types of depositTerms of deposit, prolongationAmount down payment NoteAnnual %ClassicFrom 7 to 30 days 31-60 days 61-90 days 91-180 days 181-271 days 271-365 days From 366From RUB 300,000 From USD 10,000 From EUR 10,000 No deposit/withdrawal allowed3 - 9% 0.25 - 6% 0.25 - 6% Investor From 91 to 180 days 181-271 days 272 - 365 days From 366 days From 300,000 rubles From 10,000 US dollars From 10,000 euros US, €3,000, no withdrawals5.75-8.25% 2.75-5.25% 2.75-5.25%ConvenientFrom 31-60 days 61-90 days 91-180 days 181-271 days 271 -365 days From 366 days From RUB 300,000 From USD 10,000 From EUR 10,000 180 days 181-271 days 272-365 days From 366 days RUB 1,000,000 USD 50,000 EUR 50,000 Deposit replenishment from RUB 100,000, USD 5,000, EUR 3,000, partial withdrawal is allowed 4-6% 1-3% 1- 3% Certificates of deposit and bills of exchange From 7 to 30 days 31-60 days 61-90 days 91-180 days 181-271 days 271-365 days From 366From RUB 300,000 From USD 10,000 From EUR 10,0003-9% 0.25-6% 0.25-6%
It can be seen from the table that the most profitable placement of funds for legal entities is the “Classic” deposit and in certificates of deposit and bills of exchange, since the rates for these products are the highest (up to 9% for ruble deposits and 6% for deposits in foreign currency). ), it is also possible to place funds at a minimum short term- 7 days. For some deposit products, it is possible to replenish the deposit, but with certain conditions: for deposits with a volume of 100,000 rubles, 5,000 US dollars, 3,000 Euros, with a deadline for making additional contributions (30 days before the expiration of the deposit), also there is a limit on the maximum amount of deposits, taking into account additional contributions: for the "Investor" deposit - this is 300% of the initial deposit amount, for the "Mobile" deposit - 500%. The possibility of partial withdrawals also reduces the possibility of receiving more income. For all types of deposits in case of early termination of the agreement, an interest rate is paid based on the “On Demand” rate - 1% per annum for ruble deposits / deposits, 0.1% per annum - in foreign currency.
Analyzing the deposit products offered by the Bank for legal entities, we can draw the following conclusions on them:
interest rates on deposits/deposits are the higher, the longer the term of the deposit. So, for deposits with a minimum deposit term of 7 days, the following rates apply - 3% for ruble deposits and 0.25% for deposits in foreign currency, when placing funds for a period of 366 days it is possible to receive up to 9% per annum;
The interest rate on the product also depends on the amount of the deposit. So, for example, a Mobile deposit with a term of 366 days and an amount from 300,000 to 10,000,000 rubles is accepted at 8.5% per annum, and the same deposit, but in an amount of 50,000,001 rubles at 9% per annum;
It should be noted that interest rates on deposits in rubles are below the level of inflation (for 2010 inflation was 8.8%, for 2011 - 9.4% - according to independent news agency);
According to the tax legislation, none of the proposed types of deposits is subject to taxation, since the excess of the rate on deposits in rubles does not exceed five percentage points of the refinancing rate (in 2011 it is 8.25%), and deposits in foreign currency do not exceed 9% per annum.
For individuals, the Bank has developed a wide range of deposits (Table 2).
Table 2.
Types of deposits of "BALTINVESTBANK" for individuals
Types of depositsTerm of deposit, prolongationAmount of down payment and additional contributionsNoteAnnual %"On demand"100 rubles 10 dollars 10 eurosAdditional deposits and partial withdrawals are possible0.1%"Spring"735 daysFrom 6000 rubles 200 US dollars 200 euros 8.75-9% 5.25 -5.5% 5.25-5.5% "Cumulative"91 days 181 days 357 days 735 days3000 rubles (additional contribution 3000) 100 US dollars (additional contribution -100) 100 euros (additional contribution -100) Extension and extra contributions are possible, partial withdrawals are not allowed4.75%-- 7.75% 2.% -4.25% 2.% -4.25% "Savings PLUS"91 days 181 days 357 days 735 days3000 rubles (additional fee - 3000) 100 US dollars (additional fee - 100) 100 euros (additional fee - 100) contributions are possible, partial withdrawals are not allowed4.5% - 7.5% 1.75% - 4% 1.75% - 4% "Pension" 91 days 181 days 357 days 735 days 1000 rubles (additional contribution -300) 100 US dollars (additional contribution - 50) 100 euros (additional fee - 50) contributions are possible, partial withdrawals are not allowed5.15% -7.75% 2.5%- 4.25% 2.5%- 4.25% "Classic"31 days 61 days 91 days 181 days 357 days 735 days6000 rubles. 200 US dollars 200 eurosProlongation available, add. contributions and partial withdrawals are not possible1.5% -8.75% 0.5% - 5.25% 0.5% - 5.25% "Classic Plus"735 days6 000 rubles 200 US dollars 200 euros contributions and partial withdrawals are not possible 8.25% -8.5% 4.75% - 5% 4.75% - 5% "Multicurrency"181 days 357 days 735 days30,000 rubles 1000 US dollars 1000 euros contributions and partial withdrawals are not possible6.75% - 8% 2.75% - 4.5% 2.75% - 4.5%"Interest in advance"91 days6 000 rubles 200 US dollars 200 euros contributions and partial withdrawals are not possible5.50% - 6% 2% - 2.50% 2% - 2.50%"Monthly income"91 days 181 days 357 days 735 days6 000 rubles 200 US dollars 200 euros contributions and partial withdrawals are not possible5.25% - 8.25% 2.25% - 4.75% 2.25% - 4.75%"Daily income"91 days 181 days 357 days 735 days150,000 rubles 5,000 US dollars 5,000 euros contributions and partial withdrawals are not possible5.25% -8% 2% - 4.5% 2% - 4.5%"Universal"91 days 181 days 357 days 735 days 100) 5,000 euros (additional fee -100) contributions and partial withdrawals are possible3.75% - 6.75% 1.75% - 3.25% 1.75% - 3.25% "Special VIP"91 days 181 days 357 days 735 days5,000,000 rubles (additional contribution 300,000) fee 10,000) 150,000 euros (add. installment 10 000) Prolongation, add. contributions and partial withdrawals are possible6.5% - 9% 3.5% - 5.5% 3.5% - 5.5% "Savings" 10 rubles 1 US dollar 1 euroProlongation, add. contributions and withdrawals possible1% 0.25% 0.25%
It is quite obvious that the interest rate on deposits for individuals varies depending on the same conditions as for deposits for legal entities, that is, depending on the term and amount of the deposit.
The most expensive deposits are the "Spring" deposit - up to 9% per annum, "Classic" - up to 8.75% per annum and "Special VIP" - 9% per annum.
It is obvious that OJSC BALTINVESTBANK has developed a line of deposits aimed at various market segments, there are deposits with a minimum deposit of 10, 100 and 1000 rubles, which is designed for not very rich sections of society, as well as deposits with a minimum deposit of 5,000,000 rubles.
For all types of deposits, prolongation is possible, which is carried out on the terms and conditions valid in the Bank on the date of prolongation for deposits of this type. In case of early termination of the deposit agreement, the accrual of interest and their payment is carried out in accordance with the rate on the "Savings" deposit.
It should be noted that the interest rates on deposits for individuals are not higher than the interest rates on deposits of legal entities.
2.3 Analysis of the bank's deposit policy
First of all, it should be noted that in Russia, as such, methods for analyzing the bank's deposit policy have not been developed. As a rule, banks themselves develop methods taking into account the specifics of their activities and the characteristics of their operations, based on the methodological operations of the Bank of Russia.
O.D. Zhilan proposes to evaluate the bank's deposit policy in stages. At the first stage, an “Assessment of the organizational aspects of the deposit policy of a commercial bank” is carried out. To do this, we will establish the presence of the following moments in the bank (Table 3):
Table 3. Organizational aspects of the bank's activities
ConditionThe presence of a condition in bank document on the deposit policy, containing its goals and objectives, the bank's strategy and means of its implementation - the presence of internal procedures and regulations that accompany the process of attracting funds to deposit accounts, namely: · regulations on deposits of legal entities, · regulations on deposits of individuals, · instructions on the procedure for making deposit transactions with legal entities, · instructions on the procedure for making deposit transactions with individuals. - departments and management bodies involved in the analysis of the deposit portfolio and management of deposit resources, exercising control
Based on Table 3, we can conclude that all organizational aspects of the Bank's activities in the field of deposit policy are fully observed.
The second stage involves the analysis of the bank's deposit portfolio. The study of deposits should begin with market segmentation according to individual characteristics of customers, for example: residents and non-residents; legal entities and individuals; legal entities by branches of activity; small, medium, large average balance on the client's account or total monthly turnover on the client's account; by types of currencies and others.
Let us first analyze the deposit portfolio of a conditional bank in terms of the composition and structure of deposits (Table 4).
Table 4. Structure of the deposit portfolio of BALTINVESTBANK
Deposits As of 01.01.2009 As of 01.01.2010 Amount, RUB mln Share, % Amount, RUB mln Share, % Demand deposits, including 3862100.04871100.0 - legal entities individuals46912.257211.7Term deposits, incl.
The data in the table show that on average for 2009-2010. greatest specific gravity in the structure of demand deposits and in the structure of term deposits, deposits of legal entities (about 90% and 60%, respectively) are occupied. During the analyzed period, the structure of deposits as a whole has not undergone significant changes. To analyze deposits by maturity, it is advisable to calculate the following indicators:
coefficient of urgency of the structure of deposits (d in D):
in D \u003d Ds / D \u003d 23 315 / 28186 \u003d 0.83
where Ds is the volume of time deposits; D is the total volume of deposits.
This coefficient characterizes the degree of constancy and stability of the resource base. For our bank, the share of term deposits in the total amount of the bank's deposits is assessed positively, because term deposits, as the most stable component of attracted funds, provide the bank's liquidity, which makes it possible to carry out operations to allocate resources for more long terms. To ensure the stability of the bank, this ratio should be at a level not lower than 30-35%.
coefficient of the structure of liabilities (KSO):
Kso \u003d Dvostr. / Ds \u003d 3 862/14 603 \u003d 0.26
Characterizes stability financial resources jar. The lower the value of the indicator, the lower the relative need of the bank for liquid assets, due to the structure of liabilities. Next, we examine the structure of the deposit portfolio by types of clients (Table 5).
Table 5
Structure of deposits of BALTINVESTBANK by customer groups
Deposits As of 01.01.2009 As of 01.01.2010 Amount, million rubles Share in relation to the total amount of deposits, % Amount, million rubles Share in relation to the total amount of deposits, % Demand deposits, including 386221487117.2- legal entities3 39318.54 29915.2- individuals4692.55722Term deposits, incl. The analysis of this table allows us to conclude that term deposits (82.8%), including term deposits of legal entities (more than 50%), play a decisive role in the formation of the bank's deposit portfolio. Also, deposits of legal entities form the basis of attracted funds in demand deposits. This structure of deposits can be considered optimal, since the share of resources with certain terms of attraction is quite large.
The movement of deposits in 2010 is characterized by the data presented in Table 6.
Table 6. Movement of BALTINVESTBANK deposits
DepositsBalance of deposits as of 01.01.2010, RUB millionDeposits received for the year, RUB millionDeposits issued for the year, RUB millionBalance of deposits as of January 1, 2011, RUB millionGrowth rate of deposit balances, %Demand deposits, including 4,704, 49,6788 6,935,689 , 4121- юридических лиц4 1328 5497 8314 850117,4- физических лиц572,4766668,4670117Срочные депозиты, в т.ч.20 33928 08618 93029 495145- юридических лиц10 95515 09511 67014 380131,3- физических лиц9 38413 7009 83413 250141,2Итого50086,87587457626 .468334.4118.5
The data in the table show that the volume of attraction in general for the deposit portfolio increased by 118.5%. Term deposits increased with the highest speed - the growth rate averaged 145%. The current dynamics testifies to the good work of the bank in the field of management, control and monitoring of attracting deposits.
Based on the data in this table, we will determine the average balances of deposits (Table 7).
Table 7. Balances of deposits of BALTINVESTBANK
DepositsBalance of deposits as of January 1, 2010, million rublesBalance of deposits as of January 1, 2011, million rublesAverage balance of deposits for the year, million rublesDemand deposits, including 4,704, 45,689, 45,196.9 - legal entities individuals572.4670621.2Term deposits, incl.
Table 6 shows that the resource balances during 2010 increased for all types of deposits and for the deposit portfolio as a whole by 18,247.6 million rubles. (68,334.4-50,086.8). The average balance of deposits (Dav) for the year was:
Dav = (ODnach + ODkon) / 2 = 50,086.8 + 68,334.4 = 59,210.6 million rubles.
where ODnach - the balance of deposits as of 01.01.2010;
ODkon - balance of deposits as of 01.01.2011.
The efficiency of deposit operations is characterized by two indicators of the turnover of deposits: the number of turnovers deposit ruble and the duration of one turnover of deposits for the period (the period of storage of the deposit ruble). The number of turnovers (n) that deposits will make will be equal to
n \u003d OVo / Dav \u003d 57 626.4 / 59 210.6 \u003d 0.97
where OVo is the turnover on the issuance of deposits (the amount of deposits issued for the period).
The number of deposits turnover shows how many times the depositors' funds were turned over during the period, and is a direct characteristic of the deposits turnover. The more turnovers deposits make for a certain period, the more efficient their use.
The average period of storage of deposits per year (T) is determined by the formula:
T \u003d Dav / (OS / m) \u003d 59 219.6 / (57 626.4 / 360) \u003d 370,
where T is the deposit term.
This indicator characterizes the average duration (in days or years) of one turnover of deposits and is the inverse characteristic of the rate of circulation of deposits. As you can see, the average term of keeping deposits in BALTINVESTBANK is long, the deposit policy of the bank is being carried out successfully.
Using the data in the table, we will determine the average retention periods by types of deposits and the number of turnovers that they will make during the year (Table 8).
Table 8. Indicators of the Bank's deposit turnover in 2010
DepositsDeposits issued per year, RUB mlnAverage balance of deposits per year, RUB mlnAverage term of keeping deposits per year daysNumber of turnovers made by depositsDemand deposits, including 8,6935,196.9215.61.67- legal entities individuals668.4621.23341.07Term deposits, incl.
The deposit turnover indicators considered in the table are interconnected as follows:
If T \u003d m / n, then n \u003d m / T,
then T \u003d 360 / 0.97 \u003d 370 days
and n = 360/370 = 0.97 turns
The difference between the inflow (Pd) and outflow of deposits (Vd), and
also between the value of the balance of deposits at the end (ODkon) and the beginning of the period (ODnach) is called the sum of the influx of deposits (Csp).
Spr \u003d ODkon - ODnach \u003d Pd - Vd.
This indicator will show absolute growth resource base and to some extent will characterize the effectiveness of the bank's work on attracting resources. Let's calculate it based on the table data (Table 9)
Table 9
DepositsDeposits received for the year, RUB mlnDeposits issued for the year, RUB mlnAmount of inflow of deposits, mln RUBAverage deposit term for the year daysAverage daily inflow of deposits, mln RUBDemand deposits, including9 6788 693985215.64.57 - legal entities 49- individuals766668.497.63340.29Term deposits, incl.
As can be seen in the table, our bank experienced a significant influx of funds in time deposits, namely from individuals, this is due to the fact that the bank is following its strategy to provide itself with a stable resource base through deposits from the population.
However, for a more specific characterization of the efficiency of operations for receiving and issuing deposits, the coefficients of inflow and settling of deposits are still used.
The deposit influx ratio (CR) is defined as the percentage of the amount of influx of deposits for reporting period to the balance of deposits at the beginning of the period:
Kpr \u003d Spr / ODnach * 100%.
The settling rate of deposits (Kos) is obtained by comparing the amount of the influx of deposits with the total amount of deposits received for the period and is also expressed as a percentage:
Kos \u003d Spr / By * 100%.
The deposit inflow coefficient shows the increase in the amount of deposits in relation to their value at the beginning of the period, and the settling coefficient - in relation to the amount of deposits received for the period. Using the table data, we will determine these indicators (Table 10).
Table 10
Inflow and settling coefficients of the Bank's deposits in 2010
DepositsDeposits received for the year, RUB mlnDeposits issued for the year, RUB mlnDeposit growth rate,%Deposit settling rate,%Demand deposits, incl. ,70.1Term deposits, including 28 08618 93036.712 - legal entities15 09511 670274.5 - individuals13 7009 83434.25Total 7587457626.430.824
Table 10 shows that the amount of the influx of deposits for the year amounted to
247.6 million rubles (75874-57626.4).
Let's calculate the coefficients of tide and settling of deposits:
Kpr \u003d (18247.6 / 59 210.6) * 100 \u003d 30.8%;
Kos \u003d (18247.6 / 75874) * 100 \u003d 24%
At the same time, the data in Table 10 show that there was an inflow of deposits of approximately 12% on time deposits. Moreover, the largest increase of 5% occurred in attracting fixed-term deposits from individuals. This trend emerged due to the great attractiveness of interest rates and terms for time depositors.
To analyze the turnover of resources, we will determine the average shelf life and average balances of deposits for the year (Table 11).
Table 11. Holding periods and balances of bank deposits
DepositsAverage term of keeping deposits for a year, days201020092010Average balance of deposits for a year, million rublesAverage daily balance of deposits, million rublesDemand deposits, including 203215.65 196.94.57 - legal entities 49- individuals278334621.20.29Term deposits, including 446473.724 91719.33- legal entities35839112 667.58.76- individuals404414.5113179.33Total33237059 210.649.32 The table shows a trend towards an increase in the terms of deposit storage. The duration of resource mobilization for the whole deposit portfolio increased by 38 days (370 - 332) under the influence of changes in the structure of deposits, as well as due to differences in terms of deposits. The terms of attraction differ significantly by types of deposits and types of clients, which may be directly related to the goals of depositors and the attractiveness of the terms of deposit storage for different clients, the specifics of the deposit policy of a particular commercial bank, changes in the economic situation and other reasons. That is why the bank must know and study these factors and trends, manage them and act as an active participant in the deposit market.
Let us determine the index of the average duration of use of deposits of variable composition:
T1 /t0 = 370/332 = 1.114 or 111.4%
Therefore, we can conclude that the terms of using deposits on average for the deposit portfolio increased by 11.4%, or by 38 days (370-332), so the resource base of this bank became more stable.
The analysis carried out in banks must necessarily end with the calculation of growth reserves economic efficiency. For example, using the indicator of the term for attracting deposits, one can determine the economic effect of increasing the terms for attracting resources (Ed). We calculate it as the difference between the terms of attracting deposits in the reporting and base year, multiplied by the amount of the average daily inflow of deposits in the reporting year. As a result, we get:
Ed \u003d (t1 - t0) SDpr1
Ed \u003d (370-332) * 49.32 \u003d 1874.16 million rubles.
Based on this formula, we can conclude that the economic effect is related to the increase in settling and the increase in the terms of attracting deposits.
The management of deposit resources of a commercial bank, attracted in sufficient amount, is designed to ensure maximum efficiency of use. The effectiveness of the use of deposit resources is calculated in the next stage of assessing the bank's deposit activities. The conditions for achieving it are to maintain liquidity at an acceptable level for the bank, use the entire set of deposit resources and achieve high level profitability (profit on invested deposit resources).
Table 12
Calculation of the effectiveness of the use of attracted funds
2010Amount of funds raised, million rubles35,262Loan debt, million rubles30,035Utilization ratio of borrowed funds1.17
Based on the data given in the table, we conclude that the funds raised are not fully used. The rest of the attracted funds goes to the formation of required reserves.
Summing up the analysis, we can conclude that the bank pursues a successful deposit policy. The main part of the resource base is term deposits, and this ensures the stable stability of the bank, the share of term resources exceeds the minimum rate of 30-36% (for BALTINVESTBANK this share is 80%). individuals. Every year, the term of deposit storage increases, which also led to an increase in the stability of BALTINVESTBANK's resources.
Chapter 3. Improving the deposit policy of OJSC "BALTINVESTBANK"
3 Optimization of the deposit policy of JSC BALTINVESTBANK
Today the market of bank deposits is characterized by rather low interest rates. But nevertheless, money is received by banks, which is connected with the invariability of the savings behavior of the population and the continuation of trends in the deposit market, observed last year according to the DIA agency. At the moment, there is excess liquidity in banks, so banks do not seek to develop new and profitable products. The need of banks for funds depends entirely on the dynamics of lending. At the moment, the pace of lending has slowed down, but there is a possibility of its growth, so many banks, especially medium and small ones, may need additional funds in the form of deposits, which will provoke the development of new competitive products by banks.
Thanks to the study of the theoretical foundations of the deposit policy and the ongoing deposit policy in OJSC "BALTINVESTBANK", I have developed a number of proposals and recommendations for improving the deposit policy in a commercial Bank. First of all, when developing a deposit policy, a bank should be guided by the following criteria for its optimization:
). to maintain the stability of the bank, its reliability, financial stability, it is necessary to ensure an effective interconnection of deposit, credit and other operations of the bank
). it is necessary to diversify the bank's resources in order to minimize the risk;
). segment the deposit portfolio (by markets, customers, products);
). it is necessary to provide an individual approach to each group of clients;
). improve competitiveness banking products and services;
). it is necessary to provide an effective combination of resources, that is, to optimally combine stable and unstable resources; in conditions of increased risk, the share of stable resources should increase.
It is necessary to pay special attention to the effective management of the process of formation and implementation of the deposit policy. To ensure management efficiency, it is proposed to improve the quality of the bank's work in predicting and managing risks that underlie the functioning of any credit institution.
To improve the deposit policy of a commercial bank, the following is proposed:
continuous improvement of its own deposit policy by a commercial bank, developed taking into account the specifics of its activities;
it is necessary to expand the range of deposit accounts of legal entities and individuals with a term "on demand". This makes it possible to more fully satisfy the needs of the bank's clients and increases the interest of investors in placing their funds on bank accounts, even in conditions of insignificant financial savings;
as one of the directions for improving the organization of deposit operations, it is proposed to use various types of accounts for all categories of depositors and improve the quality of their service;
creation of a system for guaranteeing bank deposits and protecting the interests of depositors, which will really increase the reliability of banks and their ability to fulfill the task entrusted to banks to transform citizens' savings into investments that are so badly needed Russian economy;
each bank should introduce savings deposits to increase the stability of the deposit base.
These are some of the possible ways to improve the deposit policy of a commercial bank and increase its role in ensuring its sustainability.
3.2 Development of measures aimed at attracting funds from BALTINVESTBANK OJSC
Banks operate in conditions of fierce competition in the struggle for each depositor, because the right to choose where to place their funds always remains with the latter. The development of banking competition leads to limited resources, followed by a close binding of the bank to certain customers. If the circle of these clients is narrow, then the bank's dependence on them is very high. In terms of passive operations, the choice of a bank is usually limited to a certain group of clients, to which it is much more attached than to borrowers. Due to competition between banks in the market of credit resources, it forces them to take measures to develop services that help attract deposits.
To solve this problem of forming the bank's resource base, it is necessary to work to expand the circle of depositors. This can be achieved by expanding the list of contributions. Thus, if JSC BALTINVESTBANK seeks to increase the share of deposits of individuals in the structure of deposits, it can be proposed to create new banking products aimed at the younger generation, since the average age of a modern depositor has recently decreased. The average investor has become noticeably younger: previously, the propensity to save was characteristic only of the older generation. Every year, the proportion of young people who save money and place savings in bank deposits is slowly but increasing. So, five to seven years ago, the proportion of people under 25-30 among bank depositors was extremely small.
An example of a target deposit can be the so-called "vacation deposits", that is, during the year the bank accepts small deposits for the depositor to spend a vacation at a recreation center, at sea or abroad. Funds can be returned either after six months or a year, depending on the drawn up agreement. Deposits can be opened both in rubles and in foreign currency if the client is going abroad. For a trip abroad, with a minimum deposit of funds in the amount of 50,000 rubles, you can offer a free opening of a banking VISA cards.
To attract new depositors and encourage long-term storage of funds, a fundamentally new type of deposit “I save up for housing” is offered. Such a product can be offered to a young married couple, where both young people work.
The conditions for such a contribution may be:
opening a deposit for a young couple to a person upon presentation of a passport and after a consultation conversation (the conversation includes a consultation on the optimal monthly amount of saving money based on the income of the couple, based on the desired amount of living space, the required amount for the purchase of housing is calculated);
deposit currency - Russian ruble;
the minimum deposit amount is 30,000 rubles;
term for raising funds: maximum - up to 25 years, minimum - 5 years;
interest rate - fixed, 9% per annum, capitalization of income, interest is added to the balance of the deposit;
interest is accrued after a year on the entire amount of the deposit;
the ability to replenish the deposit on a monthly basis throughout the entire period of storage (the minimum amount of the additional deposit is 10,000 monthly;
the inability to partially withdraw funds before 5 years;
the ability to open a deposit in the name of another person (the rights on the deposit are transferred to the person in whose name the deposit is opened, from the moment of the first application this person to the bank on issues related to this deposit). In this case, these may be the couple's parents who decide to open this type of deposit to them;
when keeping funds on a deposit for more than 5 years when closing a deposit, if the couple still does not have enough money to buy a home (the amount of missing funds can be from 200,000 rubles for 5 years of storage and up to 800,000 rubles for more than 15 years of storage), the bank issues a mortgage at the current interest rate at the time of closing the deposit minus 1.5%.
Advantages of this type of deposit for the client:
fixed interest rate, which does not depend on the level of the refinancing rate;
income capitalization;
the possibility of opening a deposit for another person (for example, parents open for their children);
the ability to replenish the deposit;
fast registration of a mortgage with long-term storage of funds.
The advantages of this type of deposit for the bank:
attraction of new investors;
accumulation of the resource base;
availability of a long-term stable resource base;
the possibility of obtaining a new client for mortgage lending.
The main difference between this type of deposit and those already existing in the bank is the possibility for the client to receive a mortgage at a favorable interest rate. With the help of the "I'm saving up for housing" deposit, the bank receives a client for two types of services at once - opening a new deposit and a possible borrower.
Exactly possible receipt mortgages on favorable terms will encourage the owner to carry his money in this particular contribution. And it is precisely the possibility of saving for housing that will keep the depositor from early withdrawal of funds from the account.
Over the past few years, the following trend has been noticeable on the deposit market - banks, by raising the minimum deposit amount, weed out small depositors, the income from working with which often does not even cover operating expenses. However, OJSC BALTINVETBANK has made great strides forward in this direction, since there are already deposits with the possibility of making a small deposit (1000 rubles for the “Pension deposit” and 10 rubles for the “savings deposit”). Despite the fact that the bank also imposes restrictions on the minimum deposit amount for some types of deposits, there is no doubt that these deposits will find their client.
You can also offer the Bank to make incentive gifts at the end of the term of the long-term deposit, for example, when closing a deposit for a period not earlier than a year and the amount of funds on it is not less than 100,000 rubles, you can offer to conclude an agreement on customer credit at an interest rate lower than the established one by 0.5 - 1.5%, depending on the term of deposit. It should be especially noted that, since at present interest rates on deposits slightly cover inflation, it is necessary to convince potential clients that the purpose of investing money in a bank is not an opportunity to make a profit, but an opportunity to save their savings. In this regard, the Bank may hold thematic seminars every few months on various options for saving money by the client. It will also enhance the image of the Bank. In general, all the proposed measures to improve deposit operations are aimed at increasing the resource base of the bank, attracting new depositors, expanding the segment of banking services, and improving the stability of the bank.
Conclusion
The tasks set by me were successfully solved in the course of writing the thesis. In the course of considering the theoretical foundations of the bank's deposit policy, the following conclusions were made: the bank's deposit policy is an important part of the bank's policy to attract temporarily free funds of organizations and the population to bank accounts in various kinds of deposits (deposits), which is primarily based on the strategic plan of the bank, on the analysis of the structure, current state and dynamics of the bank's resource base and should proceed from the main prospects for its development. This process must be regulated both by the state and by internal banking regulations and rules. On the part of the state, regulation occurs with the help of established standards. Various structural divisions are involved in the development of the deposit policy. Each bank independently determines for itself the structure of attracted resources, the terms, procedure and conditions for attracting funds, by developing deposit products that are attractive to customers. It is deposits that are the main source of resources for banks, but, being a source of formation of resources, they also have some disadvantages: by attracting funds to deposits, the bank incurs certain monetary costs, and also bears certain risks associated with a change in the behavior of depositors. Nevertheless, the competition between banks in the market of credit resources forces them to take measures to develop services that help attract deposits. The Bank attracts funds from individuals and legal entities in term deposits and demand deposits. Each type of such a deposit has both pluses and minuses for the bank. Thus, term deposits increase the stability of banks, being stable funds, but on the other hand, they are costly for the bank.
Analyzing the deposit policy of BALTINVESTBANK OJSC, we came to the following conclusions:
every year the Bank increases the volume of attracted funds, thanks to a competent and optimal deposit policy,
The Bank has developed a wide range of deposits, taking into account the interests of various market segments,
The Bank has a stable resource base, as the basis for raising funds is funds in term deposits (79% of total amount deposits),
the main volume of funds raised comes from legal entities, since it is the service of small and medium-sized businesses that is the main strategy of the Bank, but every year the share of funds from individuals is growing, which is also the main direction of the Bank for 2010-2011.,
The Bank raises funds based on the projected volume of lending, and the funds raised are used effectively.
Some recommendations were developed to improve the deposit policy of BALTINVESTBANK OJSC. Since the assessment of the deposit policy of "BALTIVESTBANK" is positive, recommendations were given for the Bank to successfully follow the chosen direction. Since the Bank seeks to increase the share of deposits of individuals in the total volume of deposits, attention should be paid to the development of new deposit products to attract funds to term deposits. For this, a fundamentally new deposit “I'm saving up for an apartment” was proposed, a feature of this deposit is the possibility for the client to receive a mortgage on very favorable terms after the expiration of the period of storage of funds and if there is insufficient funds to buy an apartment. This type deposit is also beneficial for the Bank, since the Bank is given the opportunity to provide one client with two types of services at once.
It is also proposed to encourage long-term storage of funds in the bank by providing customers with consumer loans at a low interest rate.
Such products will attract new customers, as well as stimulate the long-term storage of funds.
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Russia leads among the BRIC countries in terms of inflation,
Bank development strategies.
Tags: Deposit policy of a commercial bank Diploma Banking
Introduction 3
1. The essence of the deposit policy of a commercial bank 4
2. Problems of formation of the deposit base of a commercial bank 11
3. Deposits 12
4. Deposit and savings certificates 13
Conclusion 15
References 17
Introduction
Reforming the economy and Russia's transition to the mainstream of world economic development suggest the need for an in-depth study of the processes that make up the core of market transformations, which include the formation and development of the securities market, their placement, resale, modification, redemption and other operations.
Commercial banks in the securities market can act as issuers of securities, intermediaries in transactions with securities and perform transactions with securities on their own behalf in order to receive income.
Securities issued 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 banks' resources is formed by borrowed funds, which cover up to 90% of the total need for funds for active BANKING operations. A commercial bank has the ability to attract funds from enterprises, organizations, institutions, individuals and other banks in the form of deposits (deposits) and open appropriate accounts.
A contribution (deposit) is money (in cash and non-cash form, in national or foreign currency) transferred to the bank by their owner for storage under certain conditions. Operations related to the attraction of funds in the deposit. They are called deposits. For banks, deposits are the main type of their passive operations and, therefore, the main resource for conducting active lending operations.
1. The essence of the deposit policy of a commercial bank
In order to attract resources for their activities, it is important for commercial banks to develop a deposit policy strategy based on the goals and objectives of a commercial bank, enshrined in the charter, to maximize profits and the need to maintain bank liquidity. The deposit policy must first of all meet the following requirements:
- economic expediency;
– competitiveness;
– internal consistency.
Economic feasibility here is understood as the profitability of using the attracted resources of the population. This question, of course, must be considered in the general context of active-passive control. When calculating the relative efficiency of attracting deposit resources of individuals, it is necessary to take into account both the costs associated with them, including reserve allocations, as well as the uncertain degree of their liquidity, and clear benefits.
The system of interest rates on deposits should be oriented to the market situation with indispensable consideration of the emerging hierarchy of reliability of comparable instruments. Thus, a bank that keeps rates at a lower level than competitors close to it in terms of reliability risks losing part of its clientele.
It is possible to consider the internal consistency of the deposit policy in several aspects. This is the term structure of deposit rates, and their differentiation by amounts, types of deposits in comparison with other comparable instruments of the same bank (certificates, promissory notes, etc.), as well as by various categories of clientele (for example, for individuals and legal entities).
Considering the essence of the deposit policy of commercial banks, it is necessary to touch upon such issues as: the subjects and objects of the deposit policy, the principles of its formation, as well as the boundaries of the deposit policy.
The composition of the subjects of the deposit policy of a commercial bank includes the bank's customers, commercial banks and state institutions. The objects of the deposit policy include attracted funds of the bank and additional services of the bank ( comprehensive service). The classification of subjects and objects of the bank's deposit policy is summarized in Figure 1.
The formation of the deposit policy of a commercial bank is based on both general and specific principles, which is clearly reflected in Figure 2.
Under general principles deposit policy is understood as the principles that are common for the state monetary policy Central Bank of the Russian Federation, carried out at the macroeconomic level, and for the policy at the level of each specific commercial bank. These include 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. A complex approach expressed both in the development of theoretical foundations, priority areas of the bank's deposit policy from the point of view of its development strategy, and in determining the most effective and optimal tactics and methods for its implementation for a given stage of the bank's development.
Figure 1 - Composition of subjects and objects of the deposit policy
commercial bank
The specific principles of the deposit policy include the principles of ensuring the optimal level of bank costs, security of deposit operations, reliability, since the bank, by accumulating temporarily free funds for the purpose of their subsequent placement, seeks to receive income not at any cost, but taking into account the realities of the market in which he carries out his work.
Compliance with the above 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 its deposit policy.
Figure 2 - Principles of formation of the deposit policy
commercial bank
One of the important issues of the work is the issue of the boundaries of the deposit policy of a commercial bank, which is understood as a certain allowable limit for the accumulation by the bank of temporarily free funds of legal entities and individuals. This gives a classification of these boundaries according to the following signs:
– depending on supply and demand in the deposit market (economic boundaries);
– by the impact of the CBR regulations and bank limits (administrative boundaries);
– depending on the subjects of deposit relations (external and internal borders);
– depending on the urgency of deposit relations (time limits);
– depending on the geographical principle (territorial boundaries);
– depending on the volume and structure of funds raised (quantitative and qualitative limits).
In a generalized form, the classification of boundaries is shown in Figure 3.
Figure 3 - The boundaries of the deposit policy of a commercial bank
Considering the deposit policy of the bank as one of the elements of the banking policy as a whole, it is necessary to proceed from the fact that the main goal of the deposit policy is to attract as much money as possible at the lowest price. Successful implementation of this multifaceted goal of the bank's deposit policy involves solving such tasks as:
– assistance in the process of conducting deposit operations to obtain bank profits or create conditions for making profits in the future;
– maintaining the required level of bank liquidity;
– ensuring the diversification of subjects of deposit operations and a combination of different forms of deposits;
– maintaining the relationship and mutual consistency between deposit operations and operations for issuing loans in terms of amounts and terms of deposits and credit investments;
– minimization of free funds on deposit accounts;
– pursuing a flexible interest rate policy;
– constant search for ways and means to reduce interest costs on attracted resources;
– development of banking services and improvement of the quality and culture of customer service.
In this issue, it is also advisable to consider the mechanism for forming the deposit policy of a commercial bank, which is schematically shown in Figure 4. The successful implementation of the goals and objectives that are set by the bank in the process of developing and implementing the deposit policy largely depends on the effectiveness of this mechanism.
Each of the stages of the formation of the deposit policy of a commercial bank is directly related to the others and is mandatory for the formation of an optimal deposit policy and the correct organization of the deposit process. Various structural subdivisions of the bank take part in the process of developing the mechanism of the bank's deposit policy. In this context, it should also be noted that an important factor, which determines the liquidity of the bank, is the quality of its deposit base. The criterion for the quality of deposits is their stability. The larger the stable part of the deposits, the higher the bank's liquidity, since in this part the accumulated resources do not leave the bank. An increase in the stable part of deposits reduces the bank's need for liquid assets, as it implies the renewability of the bank's liabilities.
Figure 4 - Scheme of formation of the deposit policy of a commercial bank
An analysis of the state of various types of deposits, conducted by foreign researchers, showed that demand deposits have the greatest stability. This type of deposits does not depend on the level of the interest rate. Its affiliation to a particular bank is largely due to such factors as: quality and speed of service; the reliability of the bank; variety of services offered to depositors; the proximity of the bank to the client. Less stable, according to a survey of foreign researchers, are the balances of fixed-term and savings deposits. Their attachment to a particular bank is influenced by the level of interest rates. Therefore, they are subject to migration in the event of certain fluctuations in the level of deposit interest set by different banks.
2. Problems of formation of the deposit base of a commercial bank
An analysis of the current practice shows that the formation of the deposit base of any commercial bank, as a complex and time-consuming process, is associated with a large number of problems, both subjective and objective.
Subjective issues include:
– scale of activity and weak capital base of Russian commercial banks;
- lack of interest of the bank's management in attracting funds from customers, especially the population, which is dictated by the tactical and strategic goals and objectives of the bank;
- insufficient level and quality of top and middle management;
– the lack of a science-based concept for conducting a deposit policy in most Russian banks;
- shortcomings in the organization of the deposit process: the absence of an appropriate unit in the bank; low level of marketing research of the deposit market; limited range of offered deposit services and so on.
Among the objective factors are the following:
- direct and indirect impact of the state and state bodies on commercial banks;
– the impact of macroeconomics, the impact of global financial markets on the state of the Russian money market;
– interbank competition;
– state of the money and financial market in Russia;
– the absence in Russia of a legal mechanism for insurance and protection of bank deposits.
3. Deposits
The deposit is economic relations regarding the transfer of client funds for temporary use to the bank.
Deposit accounts can be very diverse and their classification can be based on such criteria as the sources of deposits, their intended purpose, the degree of profitability, etc., however, the category of the depositor and the form of withdrawal of the deposit are most often used as a criterion.
Deposits of individuals.
Deposit operations are a broad concept, since they include all the bank's activities related to raising funds in deposits.
Deposits of citizens have the right to accept only banks that ensure their safety and timely return by insurance or other methods provided for by law.
Safety and return of deposits of citizens in banks established by the state, and banks where the state owns more than 50% of shares (shares) guaranteed by the state or the Central Bank, responsible for failure to fulfill obligations to depositors.
The deposit can be used in two ways:
1. A deposit is money or securities deposited by a debtor in financial and credit, judicial or administrative institutions for storage with subsequent transfer (under certain conditions) to one or another business entity or citizen - a depositor (contributions in payment customs duties, contributions to deposit accounts of courts in securing a claim and for transfer to recoverers, contributions to notary offices, if it is impossible to deliver money or securities directly to the recipient).
2. A deposit is a deposit of money or securities in banks. A deposit is a contribution for a rigidly defined period, in which the conditions for the return or securities are immediately negotiated.
Deposits are a source of formation of the bank's loan capital, which is used to issue loans, make investments, etc. These banking operations generate income for the bank. Therefore, the bank pays the citizen his deposit. Interest on deposits to a citizen is a payment for the money invested.
4.Deposit and savings certificates.
A certificate is a written obligation of the issuing bank to deposit funds, certifying the right of the depositor or his right of the receiver to receive the amount of the deposit and interest on it after the expiration of the established period. Certificates can be issued both in a single order and in series.
Certificates can be registered and bearer.
The certificate cannot serve as a settlement or means of payment for goods sold or services rendered.
Cash settlements for the purchase and sale of certificates of deposit and the payment of amounts on them are carried out only in a cashless manner.
Deposits and savings certificates are securities.
A savings certificate can only be issued to a citizen of the Russian Federation or another state that uses the ruble as an official currency. A certificate of deposit can only be issued to an organization that is a legal entity registered in the territory of the Russian Federation or in the territory of another state that uses the ruble as an official currency.
The certificate is not subject to export to the territory of the state that does not use the ruble as the official currency. The right to claim a certificate of deposit can only be transferred to legal entities registered in the territory of the Russian Federation or another state that uses the ruble as an official currency. The right to claim a savings money certificate is transferred only to citizens of the Russian Federation or another state that uses the ruble as an official payment unit.
Certificates must be current. The term of circulation for certificates of deposit (from the date of issue to the date when the owner of the certificate receives the right to demand a deposit or deposit under the certificate) is limited to one year.
The term of circulation of savings certificates is limited to three years.
If the deadline for receiving a deposit or a deposit under a certificate is overdue, then such a certificate is considered a demand document, according to which the bank is obliged to pay the deposit at the first request of the owner (beneficiary).
The Bank may provide for the possibility of early presentation for payment of an urgent certificate. In this case, the bank pays the owner of such a certificate the amount of the certificate and interest on reduced rate set by the bank when issuing the certificate.
Interest on certificates is set upon issuance and is indicated on the forms in percentage and monetary form. At the same time, interest payments due to the owner after the expiration of the certificate do not depend on the time of purchase.
Conclusion
Passive operations play a primary role in commercial banks in relation to active ones. It is at their expense that funds are raised for further investment activity banks.
At the same time, one cannot but say that such a source of formation of banking resources as deposits has some disadvantages. We are talking about the significant material and monetary costs of the bank when attracting funds to deposits, the limited availability of funds within a particular region. In addition, the mobilization of funds for deposits depends to a large extent on the clients, and not on the bank itself. Therefore, the competition between banks in the market of credit resources forces them to take measures to develop services that help attract deposits. For these purposes, it is important for commercial banks 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 volume of deposits and expanding the circle of depositors of legal entities and individuals, it is possible to improve the organization of deposit operations and the system for stimulating the attraction of deposits.
To strengthen the deposit base and expand the resource potential, the bank is offered:
1) Expand the list of existing deposits, focusing on different segments of the population with different income levels.
2) Master the issuance of savings certificates.
3) Take measures to minimize the negative impact of unforeseen withdrawal of term deposits by the population.
4) To pay interest on placed deposits in advance in order to compensate for inflationary losses.
5) Enter new service for clients - a telemarketing service.
Also, in general, for commercial banks, it is proposed to build a system for guaranteeing bank deposits, taking into account the peculiarities of the Russian banking system.
Bibliography
1. Akhmetov A. E. How to assess the liquidity and solvency of the bank. - Saratov: CJSC "Finiz", 2000. - 78s.
2. Balabanova I. T. Banks and banking activity. - St. Petersburg: Peter, 2001. - 345 p.: ill.
3. Banking: Textbook. Ed. Kolesnikova V.I. - M .: Finance and statistics, 1999. - 536 p.: ill.
4. Zhukov E. F. Banks and banking operations. - St. Petersburg: Peter, 2001. - 234 p.: ill.
5. Serebryakov SV Financial ecology: will it be safe to keep money in Russia // Banking. - 2001. - No. 5. - S. 15-20.
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The deposit policy is a set of measures aimed at the mobilization of funds by banks of legal entities and individuals, as well as the state budget in the form of contributions (deposits) for the purpose of their subsequent mutually beneficial use.
The deposit policy involves the development of evidence-based approaches to the organization of relations between commercial banks with legal entities, individuals and the state regarding the attraction of their temporarily free funds, as well as the definition of goals and objectives in this area and the implementation of practical measures for their implementation. When conducting the deposit policy, the principles of organization of deposit operations and their relationship with the total money turnover, the ratio of economic and organizational methods in the management of deposit operations, the forms of deposit accounts and their scope, the procedure for opening and closing deposit accounts, the rules for crediting and withdrawing customer funds, the procedure and conditions for transferring funds from one deposit account to another, deadlines for storage money in deposit accounts.
Only a commercial bank that constantly expands the range of services provided to customers, reduces costs, improves the quality of credit settlement and cash service, provides various benefits in customer service, offers them various kinds of consultations, etc. Such a comprehensive service plays a significant role in establishing the ratio between the levels of interest rates on credit and deposit operations of the bank. Of particular importance is the level of deposit interest, i.e. interest paid to clients of a commercial bank on attracted deposits (deposits), since the basis of the deposit activity of commercial banks is operations to attract funds.
In world banking practice, deposits are usually understood as entries in bank books that indicate the presence of certain requirements of customers to the bank, or funds that customers deposit with the bank on the basis of agreements, agreements and deposit obligations provided for by law. Therefore, deposit operations are operations related to the accumulation of cash deposits by banks and their placement on the corresponding deposit accounts. On the basis of deposit operations of commercial banks, the vast majority of their resources are formed, used for the purpose of short-term and long-term lending to business entities and the population. The role of deposit operations will be significant enough if they are based on a well-developed theory of deposit policy.
In foreign industrial developed countries deposit policy has a number of common features, which is due to the common nature of deposit banking operations in countries with market economies. In these countries, deposits make up the bulk of the liabilities of commercial banks, while equity, reserves, other borrowed funds and liabilities occupy an insignificant place. The organization of deposit operations is that:
In many countries, the deposit operations of banks are regulated by law, often the most general terms and Conditions deposits of funds are fixed in the laws on central banks (England, Germany).
Unification of interest rates is carried out, and in Germany the term for notification of the withdrawal of funds by individual depositors from savings accounts is legally determined. In the UK, a banking institution needs to obtain a license from the Bank of England allowing it to take deposits, and in case of violation of
the offender is subject to a significant fine or imprisonment for up to two years;
Commercial banks attract significant amounts of deposits from both firms and corporations, as well as non-profit organizations and individuals, which creates opportunities for expansion lending activities banks and increase the liquidity of their balance sheets;
Deposit operations are accompanied by the provision of a wide range and high quality of additional services, which in fact means comprehensive customer service (a small depositor is offered management financial assets, maintenance of utility bills, consumer credit settlements, etc., and for large ones - services for leasing and factoring operations, investment advice, assistance in issuing shares, etc.);
When conducting deposit transactions, commercial banks use various agreements, agreements or obligations for depositing funds, on the basis of which relations between the bank and the depositor are regulated (such agreements or agreements may contain special conditions deposit, return of funds and their use by the bank).
The deposit policy should be based on the objective patterns of formation and use of cash income and savings of legal entities and individuals, as well as the state. At the same time, it is necessary to take into account the most significant features of deposits of legal entities and individuals. Such a feature is that, for example, the deposits of state bodies and legal entities in banks are relatively few, they are large and have a relatively fast turnover. Deposits of individuals, on the contrary, are much more numerous, but smaller in size and turn around much more slowly. Operations to attract deposits from the population are also distinguished by their labor intensity.
When conducting a deposit policy, it is necessary to take into account a number of conditions, among which are such as determining the sources of bank deposits and the structure of bank liabilities and assets, setting deadlines for keeping depositors' funds, achieving maximum income from operations, taking into account centrally determined standards and “rules of the game”. ”in the loan capital market, ensuring full independence and responsibility of the parties involved in deposit transactions, etc.
The deposit policy should take into account the historically established structure of bank liabilities and assets, the dynamics of their ratios. This is important for the analysis of the liquidity of the balance sheets of commercial banks. This will also be facilitated by an optimal combination of different types of deposits. The use of a variety of deposits allows the bank to ensure their most optimal structure and, on this basis, clearly distinguish between credit resources according to their intended purpose and turnover rate, which is important for increasing the level of bank liquidity and strengthening monetary circulation in general. When conducting a deposit policy, it is important to determine the types of deposits of legal entities and individuals, the forms of deposit accounts, the procedure for opening, the mode of operation and closing of these accounts, the retention periods for targeted and term deposits, and the maximum interest rates on deposit operations.
Deposit operations of commercial banks are associated not only with the transfer of funds from legal entities and individuals to deposits, but also with the issuance of cash to customers from the relevant deposit accounts, and in some cases with the transfer of funds from one deposit account to another. Therefore, the mode of operation of various types of deposit accounts should also include the procedure for using bank customers' cash deposits.
So, demand deposits or current deposits are intended for their daily use by customers as a means of payment, are made and withdrawn without specifying a period and can be claimed at any time at the request of the depositor in whole or in part. Demand deposits are placed by customers who wish to have funds in a liquid form, and settlements on such deposits are carried out in cash, checks, transfers or bills of exchange. At the same time, demand deposits should be distinguished from the so-called “day money”, when it comes to a one-day deposit.
However, commercial banks are more interested in expanding the scope of time deposits, as this increases the most stable part of its credit resources. Compared to current deposits of a short-term nature, term deposits are placed for a longer period and can be claimed by depositors after the expiration of the established period. From the side of the investor, the meaning of the long-term placement of temporarily free cash is
earning higher interest rates. The Bank is also interested in such deposits, as it can place them in the form of loans for a longer period and, accordingly, increase interest income. If necessary, the client can withdraw (in whole or in part) the term deposit ahead of schedule, but the bank has the right to significantly reduce the amount of interest payable to the depositor. This condition is specifically stipulated in the fixed-term contract. deposit, which is the main document defining the rights, mutual obligations and economic responsibility of the bank and the depositor as two equal partners.
The implementation of a scientifically based deposit policy implies not only the improvement of the current system of deposits as a form of accumulation of funds of business entities, but also the creation of a special system of economic incentives that should encourage enterprises, organizations and the population to keep their current cash income and accumulation on certain deposit accounts, to interest banks in the development of various types of deposits, the introduction of new, more progressive and economical forms of deposit accounts.
The goals of deposit operations are reduced to observing the commercial interests of the bank and improving the liquidity of its balance sheet, which requires knowledge of the basic rules underlying deposit operations:
Deposit operations must be organized in such a way that they contribute to the receipt of bank profits or the creation of conditions for making profits in the future;
In the process of organizing deposit operations, a variety of subjects of deposit operations and a combination of different forms of deposits should be ensured;
When carrying out banking operations, it is necessary to ensure the interconnection and mutual consistency between deposit operations and operations for issuing loans in terms of terms and amounts of deposits and credit investments;
Particular attention in the process of organizing deposit operations should be given to term deposits, which provide the greatest support for maintaining the liquidity of the bank's balance sheet;
When organizing deposit operations, the bank should strive to ensure that the reserves of free (not involved in active operations) funds on deposit accounts are minimal (reserves of free bank resources are defined as the difference between the balances of funds on settlement, current and other deposit accounts and the amount of loan debt) ;
Measures should be taken to develop banking services and improve the quality and culture of service, which helps to attract deposits.
For depositors, one of the most important incentives is the level of interest on deposits. The interest rate policy in the field of deposit operations should take into account the objectivity of the conditions for setting interest on all types of deposits, if the economic feasibility of the relevant interest rates, as well as the need to ensure the linkage of deposit interest with interest rates on active banking operations.
Therefore, interest rates on deposit operations of banks should take into account the real economic processes taking place in cash circulation and non-cash payment turnover, respond to trends in the money supply, and have appropriate mobility. In this case, the deposit interest can act as:
An indicator of the profitable activity of a banking institution;
A tool to preserve the purchasing power of money, especially in conditions of high inflation;
Form of socio-economic protection of depositors from the depreciation of their savings;
An instrument of competition between banks, which is of a macroeconomic nature;
A tool for maintaining the balance of the local money market, carried out at the micro level;
An incentive to create deposits (deposits) of individuals and legal entities.
Based on the above approach to understanding the deposit interest, it can be represented as follows:
P \u003d Pb + I + ED + ED, (16.2)
where Pd - deposit interest; Pb - the base interest rate, calculated taking into account the expected income from active operations; Io - expected (projected) level of inflation; ED. - the amount of percent of possible surcharges for urgency; EDk - the sum of percentages of possible additional payments to ensure the competitiveness of the bank and stimulate deposits.
Formula 16.2 reflects the market approach to the formation of deposit interest. However, in the conditions of market setting of interest rates on active and passive operations, their ratio may develop, which will not allow
read profit. To eliminate this ratio, a sharp decrease in interest rates on deposits or a corresponding increase in interest on loans is not always possible or desirable for the bank. Therefore, in order to stabilize interest rates on passive and active operations, it is necessary to have special reserve or insurance funds that help cover the bank's needs in terms of liabilities and profits in an unfavorable economic environment. Without the creation of such funds, one of the purposes of which is to reimburse the costs of paying interest in the event of an increase in the requirements of depositors or a decrease in income, it is impossible to ensure the stable operation of the bank.
Recalculation of the size of fixed-term cash deposits is connected with the deposit interest. If the principal amount of the deposit and interest on it are subject to inflationary revaluation, then the following formula can be used to determine the amount of the deposit, taking into account inflation:
S=S(1-Sh)(1+I), (16.3)
where Cn is the accumulated amount of money (at the end of the year); Cn - the initial value of the cash contribution (at the beginning of the year); P - deposit interest (without adjustment for the annual inflation rate); Io - the actual rate of annual inflation.
If only the principal amount of the contribution is recalculated, then formula 16.3 can be converted as follows:
C=Sp(1+P+I). (16.4)
The inflation rate must be calculated on a cumulative basis from the moment the account was opened until the last date prior to its closure. Due to the impossibility of accurately accounting for inflation and other factors of market conditions for a long period (over a year), the interest rate scale cannot be rigidly fixed either. Only the base interest rate and its premiums for maturity can be rigidly fixed, while the other components of the deposit interest must be calculated by the bank periodically.
An increase in the level of interest rates on deposits is objective economically and socially, since in conditions of inflation it is impossible to protect the interests of depositors, as well as to attract interest in placing deposits in a bank for long periods. Under these conditions, banks should intensify their deposit policy and compete for the "liabilities" of business entities, as well as for the deposits of the population. Endure the same
this competition will be able to be achieved by the bank that will constantly expand the range of services provided to customers, reduce their cost, improve the quality of credit settlement and cash services, provide any credit benefits, offer customers various kinds of consultations, etc. Therefore, the transition to a comprehensive customer service is of decisive importance in the competitive struggle of banks.
The means of regulating the deposit policy of banks is the deposit interest on deposits, which takes into account the uniqueness of services and the originality of the conditions for storing funds in this banking institution, leadership of the bank in the market in terms of providing services, the need for the bank to maintain market positions, the interest rate policy of competing banks, methods for setting fees for deposits (surcharges, discounts, winnings), etc. The amount of interest on deposit operations is formed under the influence of many factors, which include the term for attracting resources, the state of demand for credit, the prevailing conditions for the supply of credit resources, the degree of reliability of the client, the level of tax rates on bank income, the nature (individual or legal entity, state or private enterprise, etc.), the level of inflation, the size of the attracted deposit, the bank's costs for conducting operations, and DR-
The deposit interest and the deposit transaction fee do not coincide with each other, since the latter is the bank's commission for conducting the transaction. When setting fees for a deposit transaction, hidden elements of the price of a loan may be taken into account, for example, central bank requirements for mandatory deposit insurance, banking fees for opening accounts, etc. Incomes paid on deposits act as a serious incentive for the population and business entities in choosing the forms of storage and accumulation of funds.
The most common types of deposits at present are (including abroad):
Term deposits, the funds from which cannot be withdrawn earlier than the due date;
Target housing deposits intended for the construction or purchase of housing (the owners of such deposits are granted the right of priority use of a housing loan);
Youth deposits, opened to young people who agree by agreement to make regular monthly contributions to the deposit within a predetermined period;
Winning deposits, the attraction of funds for which is stimulated by their participation in the drawing of cash prizes,
cars, non-food products, building materials, etc.;
Retirement savings deposits.
Interest rates on deposits in some countries depend on the amount of deposits: with their increase, the income on the deposit increases. In order to stimulate savings, especially for the long term, foreign credit institutions pay depositors enough high interest(taking into account low inflation).
AT different countries there are features for current deposits (demand deposits) or current accounts. In most countries, banks do not pay interest on deposits in these accounts, but provide many services to their owners. Some countries Western Europe(Italy, Great Britain, Spain) pay relatively high interest on current accounts, which differ depending on the type of institution and category of clients. There are countries where the payment on current accounts is purely symbolic, in particular, in Germany, Holland, Belgium it is 0.5%. In France, the interest paid by the bank on customer deposits depends on the contract, with the freedom of contract being limited in some cases. In particular, the remuneration of demand deposits is prohibited, with the exception of certain savings accounts. Interest rates are free only for deposits exceeding 500 thousand francs and placed for a period of more than six months. For other types of deposits, an upper limit is set.
For term deposits in most Western European countries, the percentage depends on the terms and size of deposits. For example, in England there is a classic deposit account, which includes a mandatory advance (7 months) notice to the client about the withdrawal of funds from the account. The interest is set at 5% per annum. In Belgium and Italy, a minimum amount of deposits is set, on which, depending on the term, increasing interest is charged.
The absence of a well-thought-out differentiation of interest rates for deposit operations does not sufficiently stimulate the attraction of resources for term deposit accounts in large amounts and for a long period.
- Copyright - Advocacy - Administrative Law -
In modern conditions, for effective functioning, development and achievement of its goals, each commercial bank must develop its own deposit policy, that is, a practical management strategy. As you know, the attraction of financial resources and their subsequent placement are the main forms of activity of a commercial bank.
A fund of funds formed on a paid basis is used to invest in active instruments. Passive operations, therefore, are primary in relation to most of the banking operations aimed at generating income. In this regard, the attracted funds should be considered as an independent object of policy.
Thus, the management of attracted funds 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 have not been sufficiently developed in the scientific literature. This is especially true of the concept of the deposit policy of a commercial bank as an integral element of the liability management strategy.
The definition of the essence of the bank's deposit policy cannot be approached unambiguously, since it varies depending on its subject. The deposit policy is a strategy and tactics of a commercial bank to attract customer funds on a repayable basis.
The bank's deposit policy should include:
Development of a strategy for the implementation of the bank's activities to raise funds in deposits, based on a comprehensive market research, that is, an analysis of the financial environment, the place and role of the bank in the field of raising funds, diagnostics and forecasting;
Formation of commercial bank tactics for the development, offer and promotion of new bank deposit products for customers (in the field of commodity, pricing, marketing and communication policy);
Implementation of the developed strategy and tactics;
Monitoring the implementation of the policy and its effectiveness;
Monitoring the activities of a commercial bank to raise funds.
The main document regulating in commercial banks the process of attracting temporarily free funds of enterprises, organizations and the population to bank accounts in various kinds of deposits (deposits) is the deposit policy of the bank. This is a document that is developed by each bank independently on the basis of the bank's strategic plan, analysis of the structure, condition and dynamics of the bank's resource base and based on the prospects for its development. In addition, such documents are used that determine the main directions and conditions for the placement of attracted funds, such as the Bank's Credit Policy and the Bank's Investment Policy.
The document "Deposit Policy of the Bank" should define its strategy for raising funds to fulfill the statutory requirements, goals and objectives defined by the memorandums on credit and investment policy, with a focus on maintaining the bank's liquidity and ensuring profitable work. Specifically, the bank provides:
Prospects for the growth of the bank's own funds (capital), and hence the ratio between own and borrowed funds;
The structure of attracted and borrowed funds (deposits, deposits, interbank loans, including loans from the Central Bank of the Russian Federation);
Preferred types of deposits and deposits, terms of their attraction; the ratio between time deposits (deposits) and for a period "on demand";
The main contingent of deposits and deposits, i.e., the category of depositors;
Geography of attraction and borrowing of funds;
Desirable creditor banks for interbank loans, terms for attracting the latter; conditions for attracting deposits (deposits) and interbank loans;
Methods of attracting deposits (based on agreements bank account, correspondent account, bank deposit (deposit), by issuing own certificates, bills of exchange);
The ratio between ruble and foreign currency deposits(deposits);
New forms of attracting funds in deposits;
Special conditions for opening certain types of deposits (deposits);
Measures to comply with the bank's risk standards for borrowed funds.
The 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 summarized in (Fig. 1).
Figure 1 Composition of subjects and objects of the bank's deposit policy
The formation of the deposit policy of a commercial bank is based on both general and specific principles, which is clearly reflected in (Fig. 2).
Figure 2 - Principles of formation of the deposit policy
A number of structural subdivisions of the bank (treasury, financial department, business development department, credit department, securities department), as well as the bank's management bodies: the bank's board and the asset management committee and liabilities.
Rice. 3.
Thus, the board of the bank determines and approves the main directions of the deposit policy, approves the procedure and conditions for attracting deposits, and exercises general control over the implementation of the deposit policy.
The Assets and Liabilities Management Committee makes fundamental decisions on the formation of a deposit portfolio, analyzes the structure and dynamics of resources, their contingency in terms and amounts with the bank's assets in order to develop, if necessary, decisions to adjust the bank's deposit policy; exercises current control over the implementation of the deposit policy by individual structural divisions of the bank.
The financial management of the bank, together with the treasury, determines the total need of the bank for deposit funds (for the year, including broken down by quarters): sets the interest rates for each type of resource (deposits (deposits), bills, interbank loans); determines the volume of reservations for attracted funds in the Bank of Russia; controls the bank's compliance with the risk ratios for borrowed funds established by the Bank of Russia, etc.
Special departments of the bank are directly involved in attracting deposits in various forms: the department of deposits of citizens, the department of securities (issuing own bills, deposit and savings certificates), the credit department or the department of assets and liabilities (deposits of legal entities) and other departments in accordance with the internal organizational structure each bank.
For implementation practical activities to raise funds, banks develop Regulations on deposit (deposit) operations (separately for deposits of individuals and deposits of legal entities), which stipulate:
Rules and conditions for accepting deposits (deposits);
Legal status of subjects of contractual relations;
The procedure for concluding a bank deposit agreement;
Methods of accepting and issuing a deposit (deposit);
The list of documentation required for opening and using a deposit (deposit), and the requirements for them;
The rights of depositors and the obligation of the bank;
Methods of accrual and payment of interest on deposits (deposits).
Intra-bank instructions on the procedure for making specific deposit (deposit) operations, which are developed by the bank in development of the Regulations on deposits (deposits), contain the organization of the work of a branch (subdivision) of the bank with various categories of depositors; the procedure for issuing documents corresponding to the commission of these operations, the scheme of their document flow; reflection in the accounting of operations for the acceptance and issuance of deposits, accrual and payment of interest on them.
The volume of funds attracted by the bank in deposits (deposits) depends on the state of supply and demand for monetary resources, the deficit or excess of funds from the bank, the state of the deposit market.
In order to attract funds from business entities and citizens into their circulation, banks develop and implement a whole range of activities. So, first of all, an important means of competition between banks for attracting resources is the interest rate policy, because the amount of income on invested funds serves as a significant incentive for clients to place their temporarily free funds in deposits (deposits).
The level of interest rates on deposits (deposits) is set by each commercial bank independently with a focus on the refinancing rate of the Bank of Russia and the state of the money market, as well as based on the provisions of its own deposit policy. First of all, the level of interest rate on deposit (deposit) operations of banks depends on the type of deposits (deposits). As a rule, on demand deposits, characterized by the instability of the balance, high mobility and mobility, minimum interest rates are set.
In order to encourage customers to maintain stable, not declining demand account balances, which generally has a significant impact on the profitability of lending operations, banks establish increased interest on them or to the amount of the balance not lower than the minimum, calculated by the bank and agreed with the client (which is stipulated in the bank account agreement).
When setting the interest rate on time deposits (deposits), the determining factor is the period for which the funds are placed: the longer the period, the higher the interest rate. An equally important factor is the amount of the deposit, and, therefore, the larger the amount of the deposit and the longer the period of its storage, the higher the interest rate on it, as a rule. An essential point is the frequency of payment of income on deposits (deposits). The interest rate on the deposit is inversely related to the frequency of payment of income, i.e. the less often they are made, the higher the level of the interest rate on the deposit (deposit) set by the bank. It should be noted that paying interest to banks at rates significantly higher than the economically justified level is not illegal. In this case material gain, obtained from the difference between the refinancing rate of the Central Bank of the Russian Federation and the rate credit institution on specific deposits, should be subject to income tax.
Payment of interest on a deposit (deposit) can be made:
· once a month;
once a quarter;
after the expiration of the contract.
In order to stimulate the attraction of customer funds to time accounts in the bank, the conditions of deposits (deposits) may provide for the capitalization of interest. It is possible if the bank uses the compound interest technique when calculating income.
The traditional type of calculation of income is simple interest, when the actual balance of the deposit is used as the basis for calculation, and, based on the interest rate stipulated by the agreement, the calculation and payment of income on the deposit take place with the established frequency. Another type of income calculation is compound interest (interest on interest). In this case, after the expiration of the settlement period, interest is accrued on the deposit amount, and the resulting amount is added to the deposit amount. Thus, in the next billing period, the interest rate is applied to the new deposit amount, which has increased by the amount of previously accrued income.
To raise funds for deposits, commercial banks began to widely use overseas experience In particular, they carry out:
· Development of various programs to attract funds from the population;
· provision of various types of services to depositor clients, including those of a non-banking nature (for example, elements of medical care; subscription to periodicals of economic literature; subscriptions for excursion services in museums, etc.);
Use of a high interest rate on deposits of an investment nature;
program "Bonus percentage".
In addition to a flexible interest rate policy in order to attract funds, banks must provide depositors with guarantees for the reliability of placing funds in deposits. In order to protect investors, depositors and provide them with guarantees of compensation of funds in the event of their bankruptcy, banks should create special deposit insurance funds both centrally and decentralized.
Along with deposit insurance, it is important for depositors to have access to information about the activities of commercial banks and the guarantees they can provide. When deciding on the placement of available free funds, each creditor must be sufficiently informed about the financial condition of the bank in order to assess the risk of future investments. In this regard, invaluable assistance to depositors and investors can be provided by rating assessments of the activities of banks by special agencies and bureaus.
At the same time, it should be noted that banks must also provide comprehensive information about themselves (on the amount of authorized capital, equity, founders, development prospects, performance results, etc.) to their creditors and depositors. This is especially true for individuals who choose banks to deposit their funds. Therefore, in the premises of a bank (branch, branch, additional office) accepting deposits from citizens, for the information of depositors, the following must be presented:
· a license from the Bank of Russia, which gives a particular bank the right to accept deposits from individuals either in rubles or in rubles and in foreign currency;
The auditor's report on annual report jar;
bank balance for the last reporting date and profit and loss statement in press release forms;
· position of the bank on the deposits of individuals;
List of types of deposits accepted by the bank from individuals. persons;
conditions for each type of deposits;
· information about the conditions for providing and guaranteeing deposits by the bank;
Forms of documents required for registration of deposits and transactions with them;
· information of the board of the bank (or other management bodies of the bank) on changes in the interest rate for certain types of deposits (indicating the reasons and terms for making changes to the conditions of deposits).
The work of credit institutions to attract creditors' funds into their circulation is associated with certain risks, which they must take into account in their activities and be able to manage them in order to avoid negative consequences for liquidity and stability.
The Bank of Russia establishes for banks and monitors their compliance with certain restrictions on the amount of funds raised. In accordance with the latest instructions of the Bank of Russia, a procedure is established for determining the balances on demand accounts and term accounts of individuals and legal entities (with the exception of credit institutions) for their inclusion in the calculation (exclusion from the calculation) of the instant (H2), current (H3) and long-term liquidity (N4) of the bank Instruction of the Bank of Russia dated 16.01.2004. No. 110-I.
The approach proposed by the Ordinance implements the method used in international practice for assessing bank liquidity risks, taking into account the so-called "behavioral" adjustments, that is, indicators characterizing the state of assets and liabilities based on accumulated statistical data.
The Ordinance establishes that banks independently determine the appropriateness of using the values of the minimum aggregate balances for calculating liquidity ratios.
It should be noted that not the entire amount of the funds of its clients attracted by the bank can act as resources for its active operations. Part of the funds raised in the amount established by the Board of Directors of the Bank of Russia is subject to mandatory deposit on a separate account with the Bank of Russia Depositing required reserves with the Bank of Russia is carried out in accordance with Bank of Russia Regulation No. 255-P, dated March 20, 200, “On Required Reserves”. The Bank of Russia forms a mandatory reserve fund credit and banking system of the state. It can be used to provide credit assistance to commercial banks by the Bank of Russia in various ways, for settlements with depositors and creditors in the event of bankruptcy of a credit institution.
By changing the norms of required reserves, the Bank of Russia influences the credit policy of commercial banks, and, accordingly, the state of the money supply in circulation. For example, a decrease in the mandatory reserve requirements for funds attracted by banks allows them to use the generated resources in their turnover to a greater extent, i.e. increase investment in National economy, and vice versa. Required reserves (reserve requirements) are a mechanism for regulating the overall liquidity of the banking system, used to control monetary aggregates by reducing the money multiplier.
The obligation to fulfill reserve requirements arises for a commercial bank from the moment it receives a license from the Bank of Russia for the right to perform the relevant banking operations.
Required reserve ratios are set by the Bank of Russia for a certain period of time and may be reviewed periodically, but they cannot exceed 20% of a credit institution's liabilities. It should be noted that the norms of required reserves can be differentiated depending on the timing of raising funds, their types (cash of legal entities or individuals), the currency of the deposit. Usually, the highest reserve ratio is set for demand accounts, since the client can withdraw his funds from them at any time.
The stages of the formation of a savings policy are shown 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 monitoring that the commercial bank and supervisory authorities can assess the results of the deposit policy pursued by the bank, which is extremely important in the development of monetary policy and other market regulation tools, as well as to prevent crisis situations in banking system associated with the loss of customer confidence in financial and commercial institutions.
Next, we consider the stages of formation of the deposit policy of a commercial bank. It is very important to study the formation and implementation of the deposit policy mechanism of a commercial bank, since the successful fulfillment of the goals and objectives that are set for the bank in the process of developing and implementing a deposit policy largely depends on the effectiveness of its functioning.
Figure 4 Stages of formation of a savings policy
Based on the analysis of the current practice of behavior of banks in deposit operations, a scheme for the formation of the deposit policy of a commercial bank is proposed, which is shown in Figure 5.
Figure 5 Scheme of formation of the deposit policy of a commercial bank
Each of the stages of the formation of the deposit policy of a commercial bank is closely related to the others and is mandatory for the formation of an optimal deposit policy and the correct organization of the deposit process. In this regard, the following areas of the deposit policy of a commercial bank can be distinguished:
Analysis of the deposit market;
Determination of target markets to minimize deposit risk;
Minimization of costs in the process of raising funds;
Optimization of deposit and loan portfolio management;
Maintaining the liquidity of the bank and increasing its stability.
An analysis of the current practice shows that the formation of the deposit base of any commercial bank, as a complex and time-consuming process, is associated with a large number of problems, both subjective and objective.
Subjective issues include:
1) scale of activity and weak capital base of Russian commercial banks;
2) the lack of interest of the bank's management in attracting funds from customers, especially the population, which is dictated by the tactical and strategic goals and objectives of the bank;
3) insufficient level and quality of top and middle management;
4) the lack of a science-based concept for conducting a deposit policy in most Russian banks;
5) shortcomings in the organization of the deposit process: the absence of an appropriate department in the bank, or a low level of marketing research on the deposit market, a limited range of deposit services offered, etc.
Among the objective factors are the following:
1) direct and indirect impact of the state and state bodies;
2) the impact of macroeconomics, the impact of global financial markets on the state of the Russian money market;
3) interbank competition;
4) the state of the money and financial market in Russia;
The role of the Central Bank of the Russian Federation as a regulatory body over the past few years has been especially pronounced in matters of setting the refinancing rate and reserve requirements for commercial banks. Changes in the refinancing rate do not allow commercial banks to accurately predict and plan their activities in the field of asset and liability management for the long term and make operations with long-term liabilities rather risky.
A negative impact on the structure of the resource base of a commercial bank has a growing dependence on large interbank loans, since an interbank loan does not contribute to the diversification of risks in deposit operations.
To solve existing problems, when developing a deposit policy, a commercial bank must be guided by certain criteria for its optimization. Optimization of the bank's deposit policy is a complex multifactorial task, the solution of which should be based on the consideration of the country's economy as a whole. Obviously, these interests do not always coincide. Therefore, the optimal deposit policy involves first coordinating their interests.
So, the optimization criteria are as follows:
a) the relationship of deposit, credit and other operations of the bank to maintain its stability, reliability and financial stability;
b) diversification of the bank's resources in order to minimize the risk;
c) segmentation of the deposit portfolio (according to clients, products, risks);
d) differentiated approach to different groups of clients;
e) competitiveness of banking products and services;
f) the need for an effective combination of resources, ensuring the optimal combination of stable and "volatile" resources while increasing the share of stable resources in the deposit portfolio of a commercial bank in conditions of increased risks (including deposit operations);
g) taking into account the concept life cycle in the process of forming the range of deposits and the deposit portfolio as a whole.
In order to improve the deposit policy of a 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 range of deposit accounts of legal entities and individuals with a term “on demand”, which will allow, even in conditions of insignificant financial savings, the field to satisfy the needs of bank customers and increase the interest of investors in placing their funds on bank accounts;
As one of the directions for improving the organization of deposit operations, it is possible to use different types of accounts for all categories of depositors and improve the quality of their service;
Individual approach (the desire of the bank to provide the client with special benefits).
These are some of the possible ways to improve the deposit policy of a commercial bank and increase its role in ensuring its sustainability.
The relationship between the savings and deposit policies of a commercial bank is as follows: on the one hand, the main directions of the deposit policy are elements of the formation of the savings activities of the bank (for example, the range of deposits, interest rate policy, promotion of the product on the market, organization of the work of the relevant divisions of the commercial bank). On the other hand, it is impossible to call the deposit policy an integral element of the bank's savings policy. The bank's deposit policy is a broader concept that includes, in addition to the strategy and tactics of attracting resources on a repayable basis, the organization and management of the deposit process.
In general, each commercial bank develops its own deposit policy. Also, the bank's management independently determines the degree of importance of these areas, the priority of one or another type of bank policy. First of all, it will depend on the area of operation of a particular bank, its specialization and universalization.
Students, graduate students, young scientists who use the knowledge base in their studies and work will be very grateful to you.
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