Graduate work
Improving the deposit policy of the bank on the example Savings Bank Russian Federation
ANNOTATION
The diploma work is made on 99 sheets of A4 format. Includes 10 figures, 9 tables, 46 references.
BANK, DEPOSIT POLICY, CERTIFICATE, DIVERSIFICATION, DEPOSITS, ATTRACTED FUNDS, INTEREST RATE, SETTLEMENT LEVEL, BANK CARD.
The thesis is devoted to the operations of Sberbank of Russia on deposits individuals and prospects for their development.
The object of the study is the Savings Bank of the Russian Federation and its branch in the city of Bodaibo.
The first chapter highlights the basic concepts and principles of implementation deposit operations in a commercial bank. Protection system considered bank deposits. The main emphasis is placed on the theoretical basis of deposit sources of raising funds and their characteristics.
The second chapter analyzes the work of the Savings Bank of Russia in the field of deposit operations. Presented organizational- economic characteristic jar. The main emphasis is placed on the types of household deposits attracted by Sberbank in deposits.
In the third chapter, ways to improve deposit operations, methods of managing attracted resources are considered in detail. Prospects for the development of deposit services of Sberbank of the Russian Federation, its competitive advantages. Proposals are given to improve the deposit operations of the Savings Bank of Russia.
INTRODUCTION
Chapter 1 THE ESSENCE OF DEPOSITS AND THEIR ROLE IN THE FORMATION OF BANKING RESOURCES
1.1 The concept and principles of deposit operations in a commercial bank
1.2 Deposit sources of attraction Money and their characteristics
1.3 Bank deposit protection system
Chapter 2 ANALYSIS OF INDIVIDUAL DEPOSITS ON THE EXAMPLE OF SBERBANK OF THE RUSSIAN FEDERATION
2.1 Organizational and economic characteristics of the Savings Bank of the Russian Federation
2.2 Types of household deposits attracted by Sberbank of the Russian Federation in deposits
2.3 Interest and deposit policy of Sberbank of the Russian Federation on attracted funds from the population
Chapter 3 PROSPECTS FOR THE DEVELOPMENT OF OPERATIONS OF SBERBANK OF THE RUSSIAN FEDERATION TO ATTRACT FUNDS IN DEPOSITS
3.1 Prospects for the development of deposit operations
3.2 Payment cards as a promising direction of development banking products Sberbank of the Russian Federation in the market of deposits of citizens
3.3 Proposals for improving deposit operations at Sberbank of the Russian Federation
CONCLUSION
BIBLIOGRAPHY
INTRODUCTION
The specificity of a banking institution as a commercial organization is that the vast majority of its resources are formed not at the expense of its own, but at the expense of borrowed funds. Funds attracted by banks are diverse in composition. Their main types are funds raised by banks in the process of working with clients (the so-called deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates, bills, bonds) and funds borrowed from other institutions through international bank loan.
For commercial banks, deposits are the main type of their passive operations and, therefore, the main resource for conducting active credit operations. Many deposits are able to create loan capital for the bank, which it then places on favorable conditions in any area of the economy. For depositors, deposits are potential money: on the one hand, the deposit acts as money, on the other, as capital that generates income in the form of interest. In other words, deposit operations are beneficial for both depositors and banks.
The intensification of competition between commercial banks for deposits of individuals and legal entities has led to the emergence of a huge variety of deposits, their prices and service methods. According to some foreign experts, developed countries currently there are more than 30 types bank deposits. At the same time, each of them has its own characteristics, which allows customers to choose the most appropriate and possible form of saving money and paying for goods and services that suits their interests.
In a competitive environment, commercial banks must develop a policy in the field of passive operations through the diversification (variety) of deposit operations. In addition, the most important link in the work of the bank for a private depositor is the advertising fame of the bank, then an extensive system and the presence of various plastic patterns of interaction with the client, as well as measures demonstrated by the bank that can protect and preserve the funds invested in the bank. Also important is the relationship the bank has with the state, because it is this that in the minds of citizens begins to acquire more and more weight. Thus, in order for the bank to have a guaranteed opportunity to attract representatives of the general population, it is necessary to fulfill, first of all, the listed conditions.
Sberbank of Russia is the oldest bank in the country and the only bank that has retained its structure after the collapse of the USSR. The new economic realities and market reforms of the early 1990s required major changes in the bank's operations and a quick response to the changing situation. The main tasks of the first years of its activity were the tasks of maintaining the integrity of the bank system, maintaining positions in the market of retail banking services and deposits of the population, creating a material and technical base that provides the necessary conditions for customer service. The Savings Bank has the ability to attract funds from enterprises, organizations, institutions, individuals and other banks in the form of deposits (deposits) and open existing accounts.
The relevance of the choice of the topic of work is connected with the vision of the problems of banks in the formation of a resource base and their effective placement in the face of declining inflation, stabilization of the Russian currency and tightening the requirements of the authorities regulating the banking sector.
The object of study in this paper is to highlight the essence of deposit operations and their role in the formation of banking resources. Subject thesis is to study the organization of deposit operations of individuals on the example of Baikal Bank and identify the main directions for their improvement. The main volume in the structure of the Bank's liabilities today is made up of household deposits. However, the potential of Sberbank of Russia is not fully used, which allows us to talk about the possibility of improving its activities to attract savings from the population and funds corporate clients.
The purpose of the thesis is to study the activities commercial bank on attracting deposits of individuals on the example of the Savings Bank of the Russian Federation.
To achieve this goal, it is necessary to solve the following tasks:
Determine the essence of deposits and their role in the formation of banking resources;
Conduct an analysis of deposit operations to attract funds from individuals;
Familiarize yourself with the problems and prospects for the development of operations to attract funds to deposits.
The work used regulatory and legislative documents, monographs, manuals of authors related to the topic under study, as well as materials from the official server of the Sberbank of the Russian Federation on the Internet - htpp: www.sbrf/ru
CHAPTER 1 THE ESSENCE OF DEPOSITS AND THEIR ROLE IN THE FORMATION OF BANKING RESOURCES
1.1 The concept and principles of deposit operations in a commercial bank
The attracted funds of banks cover over 90% of the total need for financial resources for the implementation active operations primarily credit. These are deposits (deposits), as well as checking and correspondent accounts. Their role is exceptionally great. Mobilizing temporarily free funds of legal entities and individuals in the market of credit resources, commercial banks with their help satisfy the need National economy in additional working capital, contribute to the transformation of money into capital, meet the needs of the population in consumer credit.
Deposit (from lat. depositium - a thing deposited) - funds transferred to the bank, but subject to return upon maturity and certain conditions. Deposit operations are a broad concept, since they include all the bank's activities related to raising funds in deposits. A feature of this group of passive operations is that the bank has relatively little control over the volume of such operations, since the initiative to place funds in deposits comes from depositors. At the same time, as practice shows, the depositor is interested not only in the interest paid by the bank, but also in the reliability of saving the funds entrusted to the bank.
Deposit operations are a form of credit operations of banks and other credit institutions and are divided into active and passive. Active deposit operations are the placement of funds at the disposal of banks in deposits with other banks or credit organizations.
Passive deposit operations - operations of banks and other credit institutions to attract funds to deposits.
Deposit operations are a broad concept, since they include all the bank's activities related to raising funds in deposits. A feature of this group of passive transactions is that the bank has relatively weak control over the volume of such transactions, because the initiative to place funds in deposits comes from the depositors. At the same time, as practice shows, the depositor is interested not only in the interest paid by the bank, but also in the reliability of saving the funds entrusted to the bank.
The organization of deposit operations should be carried out subject to a number of principles:
Making a profit and creating conditions for making a profit in the future;
Flexible policy in the management of deposit operations to maintain the operational liquidity of the bank;
Consistency between deposit policy and return on assets;
Development of banking services in order to attract customers. Funds attracted by banks are diverse in composition.
Their main types are funds raised by banks in the process of working with clients (the so-called deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates, bills, bonds) and funds borrowed from other credit institutions through interbank loans and loans. Central Bank of the Russian Federation.
Deposits are potential money for depositors. The depositor can write out a check and circulate the corresponding amount. But at the same time, "bank money" brings interest. They act for the investor in a double role: as money, on the one hand, and as interest-bearing capital, on the other. The advantage of a deposit over cash is that the deposit earns interest, and the disadvantage is that the deposit earns a lower rate of interest than capital usually earns. This lower interest rate is not an accident, but an essential element in the nature of the bank. For the whole essence of the nature of the bank lies in the fact that the interest paid on deposits is lower than the interest that banks receive for the capital they place in various enterprises.
Deposit accounts can be very diverse and their classification can be based on criteria such as sources of deposits, their intended purpose, degree of return, etc., however, the category of the depositor and the form of withdrawal of the deposit are most often used as a criterion.
Deposits of legal entities (enterprises, organizations, other banks);
Deposits of individuals (population).
According to the economic content, all deposits can be grouped:
According to the forms of withdrawal;
In order of using the stored funds.
According to the form of withdrawal of funds, deposits are usually divided into 3 groups:
Term deposits;
Demand deposits;
Savings deposits of the population.
Deposits of legal entities can be attracted on demand and term terms. Deposits of legal entities attracted on demand terms are formalized by agreements bank account.
The classification of deposits can be represented schematically:
Rice. 1. Classification of commercial bank deposits
Acceptance of any deposit means the emergence of a certain monetary obligation of the bank to the client. Banks have recently begun to use such a form of deposits, in which the mode of accounts on demand with the mode of time deposits is applied. Having made such a deposit, the depositor may, at the expense of the funds stored there, instruct the bank to transfer to a third party. Typically, such operations were carried out on demand accounts, now interest is charged on them, as on time deposits.
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-depositor (contributions to pay customs duties, contributions to deposit court accounts in securing a claim and for transfer to claimants, 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 deposit for a fixed term, in which the conditions for the return of the deposit or securities are immediately stipulated.
Deposits are a source of formation of the bank's loan capital, which is used to issue loans, make investments, etc. These Bank operations generate income for the bank. Therefore, the bank pays the citizen his deposit / Interest on deposits to the citizen and is a payment for the money invested.
1.2 Deposit sources of raising funds and their characteristics
Demand deposits are funds that can be withdrawn, transferred to the account of another person without any restrictions (in whole or in part), at any time, at the first request of their owners. Demand deposits are inherently unstable, which limits their use by commercial banks. For this reason, the bank pays minimum interest rates on demand accounts. The mode of operation of these accounts is regulated by bank or correspondent account agreements, respectively. They deposit temporarily free funds of economic entities, budgets and budgetary organizations, as well as correspondent banks for transactions related to servicing their activities.
In the face of increased competition in attracting deposits, commercial banks seek to attract customers and stimulate the growth of demand deposits by providing additional services account holders, as well as improving the quality of their service. For demand deposits, banks are required to keep a minimum reserve with the Central Bank of the Russian Federation.
Interest on demand deposits is credited to the depositor, as a rule, once a year at the beginning of a new calendar year. The accrual of interest and their crediting to the deposit was usually carried out by the final turnovers, but now, on the recommendation of the Central Bank of the Russian Federation, this operation is required to be performed on the last day of the year.
Demand deposits are the most liquid. Their owners can at any time use the money on demand accounts. Money is deposited or withdrawn to this account both in parts and completely without restrictions, and it is also allowed to take cash from this account in the manner established by the Central Bank of the Russian Federation. The main disadvantages of demand deposits for their owners is the lack of payment of interest on the account, and for the bank - the need to have a higher operating reserve to maintain liquidity.
Demand deposits also include correspondent accounts of banks opened with the RCC or with correspondent banks for the purpose of making settlements and payments in unilaterally or on behalf of each other.
A correspondent account opened by a given bank with another bank is called a "Nostro" account, a correspondent account opened by a given bank for another bank is called a "Loro" account. In the bank's balance sheet, operations on these accounts are reflected in the following balance accounts: No. 30110 - “Correspondent accounts with correspondent credit institutions”, active account;
No. 30109 - "Correspondent accounts of correspondent credit organizations", passive account.
Such a specific account as an overdraft should also be attributed to demand deposits.
Previously, the banking system used checking accounts. They were active - passive accounts and were a combination of settlement and loan accounts. A credit balance means that the client has his own funds, debit funds, that borrowed funds are included in the turnover and the account holder is a bank debtor on a loan. By credit balance the bank accrues interest in favor of the client, and on debit - collects interest in its favor, as for the loan. Moreover, interest in favor of the bank is charged at more than high rate than in favor of the account holder.
Currently, accounts are divided into active and passive, so checking accounts have replaced the overdraft.
An overdraft is an account on which, on the basis of an agreement between the client and the bank, a debit balance is allowed in a certain amount due to the excess of the write-off amount on the account over the amount of the balance of funds, which means borrowing a loan. This account is more characterized by a passive (credit) balance.
The presence of a current account with an overdraft does not exclude the opening of additional deposit or loan accounts for the client to carry out certain operations, at the same time, all operations carried out by the bank in relation to the client are concentrated on the checking account.
Modern rules of conduct accounting in credit institutions located on the territory of the Russian Federation, in cases established by law and if there is a corresponding entry in the bank account agreement concluded between the bank and the client when opening a settlement (current) account, it is allowed to pay for documents of clients from these accounts in excess of the funds available on them. However, the resulting debit balance cannot be reflected in the bank's balance sheet on these accounts, since, according to the Chart of Accounts for accounting in credit institutions of the Russian Federation, they are only passive. Therefore, at the end of the day, this balance is transferred from the settlement (current) accounts of customers to accounts for recording loans granted in case of a lack of funds on the settlement (current) account ("overdraft") No. 44201, 44301, 44401, 44501, 44601, 44701, 44801 44901, 45001, 45101, 45201,45301, 45401. Loans are provided within the limit, interest rate and repayment period stipulated in the bank account agreement.
Due to the high mobility of funds, the balance on demand accounts is not constant, sometimes extremely volatile. However, despite the high mobility of funds on demand accounts, it is possible to determine their minimum, non-decreasing balance and use it as a stable credit resource.
To expand active operations and make a profit for the bank the best way from the point of view of liability management is the growth and diversification of the main types of deposits, which include demand deposits and time deposits. With the help of demand deposits, the problem of making a profit by the bank is solved, since they are the cheapest resource, and the costs of servicing settlement and current accounts of customers are minimal.
In most commercial banks, demand deposits occupy the largest share in the structure of attracted funds. This is usually the cheapest source of bank funds. Due to the high mobility of funds, the balance on demand accounts is unstable, sometimes extremely volatile. The ability of the account holder to withdraw funds at any time requires the presence of an increased share of highly liquid assets on the bank's turnover (the balance of funds on hand, on a correspondent account, by maintaining the share of less liquid, but generating high income assets). For these reasons, on balances on demand accounts, banks pay the owners enough low interest or no income at all.
The calculation of the share of funds held on demand accounts that can be transferred to term deposit accounts (in order to increase the income for customers from funds placed in the bank and form a stable lending resource for banks) is made according to the formula:
D = Osr. : K vol. x 100%, where (1.1)
D - the share of funds kept during the year in various current accounts that can be transferred to deposit accounts;
About cf - the average balance of funds on the settlement or current account for the year;
K 0 b - credit turnover on the settlement or current account for the year;
An increase in the share of demand deposits in the financial resources of the bank reduces its interest expenses and allows you to get a higher profit from the use of these funds in bank assets. But at the same time, current accounts are the most unpredictable element of liabilities. Therefore, their high share in borrowed capital greatly weakens the bank's liquidity. In this regard, an important task of management is to determine the optimal structure of the bank's deposit base.
Term deposits are funds credited to deposit accounts for a strictly specified period with an interest payment. The rate on them depends on the size and term of the deposit. The fact that the owner of a term deposit can dispose of it only after the expiration of the agreed period does not exclude the possibility of early receipt of his funds in the bank. However, in this case, the client's interest rate on the deposit is reduced. The Bank is interested in attracting term deposits, as they are stable and allow the Bank to dispose of depositors' funds for a long time. Term deposits are accepted only in round amounts. Often a minimum contribution is also required. Some institutions generally only allow term deposits for business clients, while private clients are encouraged to make savings deposits as a form of capital investment.
Term deposits are classified according to their term:
Deposits with a term of 1 and 3 months;
Deposits with a term of 3 to 6 months;
Deposits with a term of 6 to 12 months;
Deposits with a term of more than 12 months.
The advantage of time deposit accounts for the client is to receive high percentage and for the bank, the ability to maintain liquidity with a smaller operating reserve. The disadvantage of term deposit accounts for clients is low liquidity and the inability to use funds in term deposit accounts for settlements and current payments, as well as for cash withdrawals.
There are two types of term deposits:
Term deposit with a fixed term;
Term deposit with prior notice of withdrawal.
Actually term deposits imply the transfer of funds to the full disposal of the bank for the term and conditions under the contract, and after this period the term deposit can be withdrawn by the owner at any time. The amount of remuneration paid to the client on a term deposit depends on the term, amount of the deposit and the fulfillment by the depositor of the terms of the agreement. The longer the terms and (or) the greater the amount of the deposit, the greater the amount of remuneration. An essential point is the frequency of payment of income, the less often payments, the higher the level of interest rate. There are also various ways of calculating interest payments.
The current practice provides for the execution of term deposits for 1, 3, 6, 12 months or longer periods. Such a detailed gradation encourages depositors to rationally organize their own funds and place them in deposits, and also creates conditions for banks to manage their liquidity.
Deposits with a prior notice of withdrawal of funds mean that the client must notify the bank in advance of the withdrawal of the deposit within the period specified by the agreement (usually from 1 to 3, from 3 to 6, from 6 to 12 and more than 12 months). Depending on the notice period, the interest rate on deposits is also determined.
Term deposits are not used to make current payments. If the depositor wishes to change the amount of the deposit - to reduce or increase, then he can terminate the current agreement, withdraw and re-register his deposit on new terms. However, in case of early withdrawal by the depositor of funds on the deposit, he may lose the interest provided for by the agreement in part or in full. As a rule, in these cases, the interest is reduced to the amount of interest paid on demand deposits.
Depositing funds to a term deposit is formalized by a special agreement - a bank deposit (deposit) agreement, which must be drawn up in writing. Banks independently develop a form of a deposit agreement, which is typical for each individual type of deposit. The agreement is drawn up in two copies: one is kept by the depositor, the other - in the bank in the credit or deposit department (depending on who is entrusted with this work in the bank). The agreement provides for the amount of the deposit, its validity period, interest that the depositor will receive after the expiration of the agreement, the obligations and rights of the depositor, the obligations and rights of the bank, the responsibility of the parties for compliance with the terms of the agreement, and the procedure for resolving disputes.
In connection with the established procedure for reserving part of the funds attracted by banks, balance sheet urgent funds, involved in deposits, occurs in the context of the subjects - the owners of these funds and depending on the period for which they are involved in the bank's turnover.
By attracting time deposits, the problem of ensuring the liquidity of the bank's balance sheet is solved.
An intermediate position between time deposits and demand deposits is occupied by savings deposits. Traditionally, these operations were carried out by Sberbank, however, at present, in the course of competition for resources, commercial banks began to develop this loan capital market.
Savings deposits. They play an important role in the resources of banks, in particular earmarked deposits. Savings deposits are used to accumulate or invest money savings. At the same time, amounts of money placed on accounts that are intended for making payments or from the very beginning, invested for a certain period, are classified as savings deposits. Savings deposits include deposits formed for the purpose of accumulating or maintaining monetary savings.
Deposits of individuals can be attracted only by those commercial banks that have a special license for this from the Bank of Russia. A license to attract deposits of individuals' funds is issued to commercial banks only after two years of their successful and stable operation in the banking services market.
Savings deposits of the population are classified depending on the term and conditions of the deposit transaction: urgent; urgent with additional contributions; conditional; bearer; poste restante; to current accounts.
They are deposited and withdrawn in full or in part and are certified by the issuance of a savings book. Banks accept targeted deposits, the payment of which is timed to coincide with the period of holidays, birthdays, etc. They are characterized by a specific motivation for the emergence - the promotion of frugality, the accumulation of targeted funds and a high level of profitability, although lower than for term deposits.
Officially, individuals - depositors of commercial banks can be citizens of the Russian Federation, Foreign citizens, stateless persons. Banks accept deposits from them both in rubles and in foreign currency. The latter can be nominal and bearer.
A nominal deposit is a deposit in the name of one specific individual. It can be made both personally by the investor himself, and through his representative, i.e. trusted person. With regard to individuals, the Civil Code of the Russian Federation provides for the opening of deposits by third parties (for example, enterprises, organizations for transferring wages in citizens' deposits). The deposits of the population are attracted for the same terms as the deposits of legal entities. Deposits of individuals are formalized by a bank deposit agreement, which is recognized as a public agreement. Compared with a deposit agreement with a legal entity, a bank deposit agreement with an individual has some peculiarities. So, it may provide for the following rights of the depositor: to dispose of his deposit by proxy, pay the deposit to a third party, bequeath the deposit in the prescribed manner, prohibit the bank from changing the interest rate on a term deposit unilaterally.
The Civil Code of the Russian Federation stipulates that the deposits of citizens must be returned to them at their first request. The condition of the contract, which provides for the refusal of the citizen to receive his contribution on first demand, is considered null and void. Moreover, if the deposit was a term deposit, then in case of its early withdrawal by the depositor, the agreement should provide for the possibility of paying him interest not lower than on a demand deposit.
Savings deposits are beneficial to banks in that they tend to be long-term in nature and, therefore, can serve as a source of long-term investments. Their disadvantages for banks are the need to pay increased interest on deposits and the exposure of these deposits to economic, political, psychological factors, which increases the risk of a rapid outflow of funds from these accounts and the loss of bank liquidity.
In domestic practice, savings deposits often mean any operations, but only with the funds of the population, including both fixed-term deposits and demand accounts of citizens, which at the moment seems incorrect.
In the balance sheet of banks, savings deposits are accounted for on the same balance sheet accounts as time deposits. Registration of a deposit can be similar to a term deposit or have its own specifics depending on the conditions of a particular type of deposit.
From the above, it is clear that deposits are an important source of resources for commercial banks. However, this source of formation of banking resources also has some disadvantages. First of all, 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.
And, nevertheless, the competition between banks in the market of credit resources forces them to take measures to develop services that help attract deposits.
The problem of strengthening the deposit base of banks cannot be reduced only to increasing the volume of various types of deposits of all categories of depositors. Its solution also requires ensuring greater stability of credit resources attracted by banks. In turn, this can be achieved through a number of additional measures. These include the issuance by banks of savings certificates, which are a type of term deposits and savings deposits.
A deposit (savings) certificate is a written certificate of the issuing bank on the deposit of funds, certifying the right of the depositor or his successor to receive the amount of the deposit and interest on it after the expiration of the established period. A deposit (savings) certificate is a security, since it establishes legal relations between the bank and the depositor, contains required details, makes it possible to transfer the rights arising from the certificate to another person (the form of the certificate must contain a description of the conditions and procedure for assigning the rights of claims under it).
The procedure for issuing and circulation of deposit and savings certificates is currently regulated by the Regulations on Deposit and Savings Certificates of Credit Institutions.
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. 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, payment of amounts on them are carried out in a non-cash manner, and savings certificates - both in a non-cash manner and in cash.
A certificate of deposit can be issued only to legal entities, and a savings certificate - only to individuals. Certificate holders can be residents and non-residents in accordance with the current legislation of the Russian Federation and regulations CBR.
The Bank has the right to issue certificates under the following conditions:
Carrying out banking activities for at least two years; - compliance with banking legislation and regulations of the Bank of Russia;
Fulfillment of mandatory economic standards governing the activities of commercial banks by the Central Bank of the Russian Federation;
stock reserve fund in the amount of at least 5% of the actually paid authorized capital;
Fulfillment of the mandatory reserve requirements of the Central Bank of the Russian Federation.
Commercial banks are entitled to place their certificates only after registration of the terms of issue and circulation in the territorial office of the Bank of Russia. Certificates of Russian banks can be issued only in the currency of the Russian Federation and can be circulated accordingly only on its territory. Bank certificates cannot be used as a means of payment when making payments for goods and services. They perform only the function of a means of accumulation and can be nominal and bearer. Upon the expiration of the validity period of the certificate, the bank returns the amount of the deposit to its owner (holder) and pays income based on the value of the established interest rate, the term and amount of the deposit made to a separate bank account.
The owner of the certificate may assign the right to claim the certificate to another person. For a bearer certificate, this assignment is carried out by simple delivery, and for a nominal one - by means of an endorsement (cession), which is drawn up on the reverse side of the certificate blank. It is a bilateral agreement between the person establishing his rights (assignor) and the person acquiring these rights (assignee). The issuance of certificates to legal entities and individuals is carried out only after they transfer the appropriate amount to special bank accounts designed to record the issued certificates. 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.
When the certificate is redeemed at the end of the circulation period, the calculation of interest (P) is carried out according to the following formula:
P \u003d N x (∑P x n) / 365 x 100, where (1.2)
N is the nominal value of the certificate;
P - interest on the certificate (annual);
n - the number of days of keeping funds on the certificate, during which the corresponding interest rate was in effect.
Interest on the certificate is calculated and paid only together with the nominal value of the certificate.
Savings certificates pay out income according to the interest rates shown in the table:
Table 1
"Interest rates on savings certificates of the Savings Bank of the Russian Federation"
Certificates have significant advantages over term deposits executed by deposit agreements. Yes, thanks a large number possible financial intermediaries in the distribution and circulation of certificates, the circle of potential investors of the bank is expanding, and thanks to 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. Early withdrawal by the owner of a term deposit means for him a loss of income, and for the bank - the loss of 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.
1.3 Bank deposit protection system
In 2003, Federal Law No. 177-FZ “On insurance of deposits of individuals in banks of the Russian Federation” was adopted. This law establishes the legal, financial and organizational foundations for the functioning of the system of compulsory insurance of deposits of individuals in banks of the Russian Federation, the competence, procedure for the formation and activities of an organization that performs the functions of compulsory insurance of deposits, the procedure for paying compensation on deposits, regulates relations between banks of the Russian Federation, the Agency , the Central Bank of the Russian Federation and the executive authorities of the Russian Federation in the field of relations on compulsory insurance of deposits of individuals in banks.
The objectives of this Federal Law are to protect the rights and legitimate interests of depositors of banks in the Russian Federation, to strengthen confidence in the banking system of the Russian Federation and to stimulate the attraction of household savings to the banking system of the Russian Federation.
Currently, Russian legislation provides for three different ways to protect the interests of individual depositors. These three methods are provided for by the Federal Law "On Banks and Banking Activity".
First way. Banks are required to comply with the required reserve ratio deposited with the Bank of Russia, including in terms of terms, volumes and types of borrowed funds and funds. Resources from the mandatory reserve funds were used by the Central Bank in the event of bank failure to compensate the deposits of citizens.
The second way. The state guarantees the safety and return of deposits of individuals in banks established by the state and banks in the established capital, in which the state owns more than 50% of voting shares. The provision of state guarantees, therefore, extends to the deposits of individuals kept in the Savings Bank.
The third way. The Bank of Russia requires banks to obtain licenses for the right to attract deposits of funds from individuals. Moreover, this right is granted again established banks from the date of registration of which at least two years have passed.
The main principles of the deposit insurance system are:
1) mandatory participation of banks in the deposit insurance system;
2) reducing the risks of adverse consequences for depositors in case of default by banks of their obligations;
3) transparency of the operation of the deposit insurance system;
4) the accumulative nature of the formation of the mandatory deposit insurance fund at the expense of regular insurance premiums of banks participating in the deposit insurance system.
From our point of view, the construction of a bank deposit insurance system should be based on the following main provisions:
1. Deposit insurance should be mandatory for all commercial banks, regardless of their financial situation. Mandatory form participation will ensure the distribution of risk throughout the banking system.
2. The bank deposit insurance fund must have public administration, since in the context of a deep financial crisis, it is the state that is assigned the primary role in the financial recovery of the economy. Joint management of the insurance fund is possible only in the future, so the question of insurance fund as an organization independent of the state, in our opinion, is premature.
3. Membership in the State Deposit Insurance Fund should become a necessary requirement for obtaining a license from the Central Bank for the right to raise funds from individuals.
4. The objects of insurance in the first place should be the deposits of individuals, and in the future, the deposits of legal entities.
5. The objects of insurance must include currency deposits residents, which would prevent the outflow of foreign exchange resources abroad.
6. Offensive insured event the fact of revocation of the bank's license to carry out banking operations should be considered.
7. Determining the rates of insurance payments should be differentiated depending on the degree of risk of a particular bank. Therefore, it is necessary to develop an assessment system insurance risk to differentiate insurance premiums paid by banks with different financial positions.
8. The participation of the Central Bank in the Fund should be expressed, among other things, in the form of the possibility of opening a credit line in case of insufficient funds.
9. The form of ownership of the Fund must be mixed. The founders of the fund should be primarily the Central Bank, the Association of Russian Banks, the Antimonopoly Committee and other organizations. The participation of banks can be either direct or indirect (through associations).
Introduction mixed system protection of deposits in Russia provided both direct protection of depositors (when a depositor receives a certain amount from the fund in the event of bankruptcy within the limits of insurance coverage), and indirect protection (when the Central Bank, together with the fund, takes measures to financially rehabilitate a problem bank). Therefore, in order to create an effective system of bank deposit insurance, it is necessary to change the approach to solving the problem. The subject of insurance and protection should not be an individual depositor, but a bank with its depositors, that is, effective protection implies both equally good performance of insurance functions and the functions of control and supervision over financial condition commercial banks.
Despite significant difficulties in finding sources initial capital Fund and weak motivation for the entry of commercial banks into the insurance system, the adoption of the basic principles for the formation of a deposit protection system will have a favorable psychological impact on the owners of funds and financial institutions: the degree of confidence in the banking system will increase, and the share of attracted funds in commercial banks will increase.
CHAPTER 2 ANALYSIS OF INDIVIDUAL DEPOSITS ON THE EXAMPLE OF SBERBANK OF THE RUSSIAN FEDERATION
2.1 Organizational and economic characteristics of the Savings Bank of the Russian Federation
Sberbank of Russia is one of the largest banks in the country. The founder and main shareholder of Sberbank of Russia is the Central Bank of the Russian Federation (over 60% of shares in the authorized capital). Its shareholders are more than 200 thousand legal entities and individuals. Sberbank of Russia was registered on June 20, 1991. at the Central Bank of the Russian Federation. Sberbank of Russia is already in its second hundred years, and this is the main indicator of the stability of any bank. For the first time in Russian state The bank was established back in 1841 by decree of Emperor Nicholas. Today, the total capital of Sberbank of Russia is more than 300 billion rubles.
Sberbank is the only commercial bank in Russia that is included in the top 200 largest credit institutions in the world and in the top hundred European banks.
Sberbank of Russia is the largest bank in Central and Eastern Europe in terms of assets and Tier 1 capital, as well as in terms of deposit base.
In 2006, the European magazine "Euromony" recognized Sberbank of Russia the best bank years in the country. Among the services offered by the bank, there are various types of deposits, salary, pension, universal. The bank provides loans to legal entities and individuals at a relatively small percentage compared to other banks. Moreover, the interest rate on all deposits and loans is fixed, i.e. not subject to change during the term of the deposit.
The corporate (full official) name of the Bank is Joint Stock Commercial Savings Bank of the Russian Federation (open joint stock company). Abbreviated name of the Bank: Sberbank of Russia.
The Bank is a legal entity and, with its branches, forms a single system of Sberbank of Russia.
Branches of the Bank (territorial banks, departments) are not endowed with the rights of legal entities and act on the basis of the Regulations approved by the Board of the Bank, have a seal with the image of the Bank's emblem with its name, as well as other seals and stamps, have a balance sheet that is included in the bank's balance sheet. The branch network of Sberbank of Russia is represented by 17 territorial banks located throughout the Russian Federation (Fig. 2.1).
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Rice. 2.1. Branch network of Sberbank of Russia
The Bank seeks to make the use of its services as convenient as possible for customers by constantly improving the location of its operating units. Thus, in 2007, 371 banking service points were moved closer to urban infrastructure facilities.
Taking into account the existing demand for the services provided, the Bank continued to improve the modes of operation of banking units.
The territorial location of the divisions of Sberbank of Russia is shown in Figure 2.2.
Rice. 2.2 Territorial location of subdivisions of Sberbank of Russia
The organizational structure of Sberbank of Russia is shown in Figure 2.3.
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The main purpose of the Bank's activity is to attract funds from individuals and legal entities, to carry out credit and settlement and other banking operations and transactions with individuals and legal entities for profit.
The governing bodies of the Bank are:
General Meeting of Shareholders;
Supervisory Board of the Bank;
Collective executive body - the Board of the Bank;
The sole executive body is the President, Chairman of the Management Board of the Bank.
Control over the financial and economic activities of the Bank is carried out by the audit commission elected by the annual general meeting of shareholders of the bank for a period until the next annual general meeting of shareholders in the amount of 7 members.
The Bank maintains accounting records and provides financial and other statements in accordance with the procedure established by the legislation of the Russian Federation and other regulatory legal acts, including regulatory acts of the Bank of Russia.
Sberbank's charter, internal documents approved by the general meeting of shareholders, the bank's annual report approved by the annual general meeting of shareholders, audit reports, published statements, documents to be provided to the shareholder in preparation for the general meeting of shareholders, are published on the official corporate website of the bank on the Internet.
The Bank publishes information related to the securities it issues, to the extent, within the timeframe and in the manner determined by the legislation of the Russian Federation and the relevant instructions of the Bank of Russia.
The results of the Bank's activities are reflected in the monthly, quarterly and annual balance sheets, in the profit and loss statement, as well as in the annual report submitted to the Bank of Russia within the time limits set by it.
Table 2.1
"Results of the activity of Sberbank of Russia for 2006-2007"
Skillful use by the Bank of its advantages, active development of new products and services made it possible to achieve significant financial results in 2007, improve the efficiency of operations and significantly increase business volumes. The growth of business volumes along with efficient cost management allowed the Bank to earn in 2007 the balance sheet profit in the amount of 160.2 billion rubles, which exceeds the balance sheet profit for 2006 by 42.02%. Net profit at the end of the year amounted to 126.1 billion rubles - an increase of 43.46%.
The Bank's capital increased by 92.17% to 667.4 billion rubles, which was due to both a significant amount of earned profit and the revaluation of property. The efficiency of the bank's operations has increased: within a year, the return on assets increased from 2.8% to 2.9%.
Information on the activities of Sberbank of Russia as of
Capital - 727.5 billion rubles;
Profit - 45.8 billion rubles;
Net profit - 36.1 billion rubles;
Loan portfolio - 4,455.9 billion rubles, including lending to legal entities (without interbank lending) - 3,329.8 billion rubles;
The balance of funds on the accounts of individuals - 2,746.0 billion rubles;
Balance of funds of legal entities - 1,414.3 billion rubles; The risk management system in place in the Bank allows it to comply with the main standards of the Bank of Russia with a margin.
Table 2.2
"Economic standards for the activity of Sberbank of Russia" (as of 01/01/2008)
At the end of 2007, all economic standards set by the Bank of Russia were met with a margin. Sberbank of Russia continued to increase its own funds.
Active and mutually beneficial cooperation with a wide range of foreign partners in various areas testifies to the strong positions of Sberbank of Russia in the global banking system. Such international recognition not only makes it possible to most fully meet the foreign economic needs of the bank's clients, but also serves the interests of the country as a whole.
In order to promote external economic activity customers and improve the quality of international settlements Sberbank of Russia maintains correspondent relationships with more than 200 leading foreign banks. The international correspondent network of Sberbank of Russia covers all continents, thereby providing customers with the opportunity to make settlements anywhere in the world.
Since 1994, Sberbank of Russia has been actively cooperating with the European Bank for Reconstruction and Development (EBRD). The interaction between Sberbank of Russia and the EBRD is developing in two main areas: the Small Business Development Program in Russia and the Trade Facilitation Program. Sberbank of Russia, being a full member of the World Institute of Savings Banks (WISB) since 1992 and an observer in the European Group of Savings Banks (EGSB), is the only representative of Russian banks in these organizations.
President, Chairman of the Board of Sberbank of Russia A.I. Kazmin in 2003 was re-elected Vice-President of the WISB. Membership in WISB and EGSB allows Sberbank of Russia to be an active participant in the global savings business.
Baikal Bank of Sberbank of the Russian Federation.
The Baikal Bank of Sberbank of Russia serves clients in the Irkutsk Region, the Republic of Buryatia and the Trans-Baikal Territory. The service area is 1550.7 sq. km or 10% of the total area of the Russian Federation.
Baikal Bank has 29 branches, 405 additional offices and 183 operating cash desks throughout Eastern Siberia: from the border with Mongolia and China to Yakutia, from the Krasnoyarsk Territory to the Far East.
Sberbank of Russia is the leader in the region in terms of the volume of issuance and the breadth of the trade and service network of bank cards, the size of the loan portfolio for large and small businesses, individuals, and the number of services offered.
The Baikal Bank of Sberbank of Russia cooperates with the largest enterprises in Eastern Siberia. Among them are OAO Irkutskenergo, OAO Bratsk Aluminum Plant, OAO Irkutskkabel, NGZh Irkut, OAO Angarsk Petrochemical Company, RUSIA Petroleum, OAO Usoliekhimprom, OAO Sayanskkhimplast, OOO Rusdragmet ”, CJSC Chita Keys, CJSC Buryatmyasoprodukt, Zabaikalskaya Grain Company; provides Banking services all industries and areas of production and trade, healthcare and education institutions, government agencies, small businesses. The Bank maintains correspondent relations with the banks of Mongolia and China, acts as a guarantor in foreign trade transactions Baikal Bank Sberbank of Russia today is financial supermarket providing the population with a full range of banking services.
From the day of its foundation, Sberbank of Russia has been working in the market of savings of citizens' funds. And today, traditional deposits make up a significant part of banking services provided to private clients: there are deposits for each family member, with a variety of conditions and interest rates. Deposits are closely linked with all modern services: from a deposit account you can make utility, tax and other payments, make transfers both within Russia and abroad, and pay off a loan.
Consider the types of deposits made in the Savings Bank of Russia.
2.2 Types of household deposits attracted by Sberbank of the Russian Federation in deposits
The bulk of the attracted funds are the deposits of the population. Unconditional fulfillment of obligations to clients during the crisis, competitive interest rates, as well as accumulated experience in working with the population allow us to consider deposits as a relatively stable source of the Bank's liabilities. To date, in all branches of Sberbank of Russia, you can open the following types of deposits in rubles.
For any of the above deposits, the depositor has the right to issue a power of attorney to receive amounts from the deposit for a period of up to 3 years and a testamentary disposition directly at the structural unit of Sberbank of Russia where the deposit account is opened. A power of attorney and a testament for a deposit can also be drawn up in a notarial order.
Deposits made in the name of minors are managed by:
Until the minor reaches the age of 14 - any of his parents (adoptive parents) or guardian;
When a minor reaches 14 years of age - the minor himself, but with the consent of any of his parents (adoptive parents) or guardian.
Minors aged 14 to 18 independently dispose of the deposits made by themselves, as well as deposits that transfer wages or other monetary income received by them from enterprises, institutions and organizations where they work, or from educational institutions where they are learning.
All of the above types of deposits in rubles can be opened on the following conditions, which are stipulated in the agreement of the corresponding deposit.
The deposits of the population in the Savings Bank are diverse. At present, institutions of the Baikal Bank of the Savings Bank of the Russian Federation perform operations on several types of deposits: Sberbank deposit, replenished deposit, special, pension deposit, pension replenished deposit, universal, salary, pension plus. Let's take a closer look at the conditions for these deposits.
1. Deposit "Deposit of Sberbank of Russia" (in rubles, US dollars, euros).
On February 16, 2006, by resolution of the board of Sberbank of Russia No. 328 § 8a of February 14, 2006, the deposit “Deposit of Sberbank of Russia” (in rubles, US dollars, euros) was introduced for a period of 1 year and 1 month, for 2 years, as well as the deposit “ Deposit of Sberbank of Russia” (in rubles, US dollars, euros) for 1 month and 1 day, 3 months and 1 day, 6 months.
From February 16, 2006 on the deposit "Deposit of Sberbank of Russia" (in rubles, US dollars, euros) for a period of 1 month and 1 day, 3 months and 1 day, 6 months, 1 year and 1 month, for 2 years, as well as prolongation of existing deposits (without the appearance of depositors) is made on the following conditions. The deposit is accepted in rubles, US dollars and euros both in cash and non-cash. The minimum amount of the down payment is 1,000 rubles, 300 US dollars, 300 euros.
Table 2.3
Terms and conditions of the "Deposit of Sberbank of Russia" deposit in US dollars and euros
(as of 01.01.2008)
| Name of deposit | Shelf life | Note | |
| Deposit, in US dollars | 1 month 1 day | 300 $ - 3,75 % 10 000 $-4% 100 000 $-4,25% | |
| 3 months 1 day | 300 $ - 4,25 % 10 000 $-4,5% 100 000 $-4,75% | ||
| 6 months | 300 $ - 5,25 % 10 000 $ - 5,5 % 100 000 $ - 5,75 % | ||
| 1 year 1 month | 300 $ - 6,25 % 10 000 $ - 6,5 % 100 000 $-6,75% | ||
| 2 years | 300 $ - 6,5 % 10 000 $-6,75% 100000 $-7% | ||
| Deposit, in euro | 1 month 1 day | 300 € - 3,25 % 10000€ -3,5% 100 000 €-3,75% | Additional contributions and debit transactions on the deposit are not made. Designed for fundraising. |
| 3 months 1 day | 300 € -3,75% 10 000 € - 4 % 100 000 € -4,25% | ||
| 6 months | 300 € - 4,75 % 10 000 € -5% 100 000 € -5,25% | ||
| 1 year 1 month | 300 € - 5,75 % 10 000 € -6% 100 000 € -6,25% | ||
| 2 years | 300 € - 6 % 10000€ -6,25% 100 000 € -6,5% |
For deposits for a period of 1 month and 1 day, 3 months and 1 day after the expiration of the main (extended) period;
For deposits for a period of 6 months, 1 year and 1 month, for 2 years after the expiration of each three-month period, determined from the date of opening a deposit account (from the date of prolongation), as well as after the expiration of the main (prolonged) period.
The depositor is granted the right to receive interest added to the balance of the deposit in full or in part:
For deposits for a period of 1 month and 1 day, 3 months and 1 day for the amount of interest paid, the income for the period of its storage after the last full period of storage is calculated based on the interest rate set by the bank for demand deposits;
For deposits for a period of 6 months, 1 year and 1 month, for 2 years for the amount of interest paid, the income for the time of its storage in the current three-month period is calculated based on the interest rate set by the bank for demand deposits.
For deposits for a period of 1 month and 1 day, 3 months and 1 day and 6 months based on the interest rate set by the bank for demand deposits;
For deposits for a period of 2 years: in case of early demand during the first year of the main or extended term - based on 1/2 of the interest rate set by the bank according to this species deposit, after the first year of the main or extended term - based on 2/3 of the interest rate set by the bank for this type of deposit, the interest rate set by the bank for this type of deposit.
For the period of deposit storage after the last extended period, income is calculated in the manner and amount established by the Bank for demand deposits.
2. Deposit "Replenishable deposit of Sberbank of Russia" (in rubles, US dollars, euros).
On February 16, 2006, by Resolution of the Board of Sberbank of Russia No. 328 § 8a dated February 14, 2006, the deposit "Replenished deposit of Sberbank of Russia" was introduced for a period of 6 months, for 2 years, and the opening of new deposits "Replenished deposit of Sberbank of Russia" for 1 year and 1 month, as well as the prolongation of existing deposits (without the appearance of depositors) is made on the following conditions.
The deposit is accepted in rubles, US dollars and euros both in cash and non-cash.
The minimum amount of the down payment is 1,000 rubles, 300 US dollars, 300 euros. According to the contribution can be made credit transactions. The amount of additional contributions should be:
For deposits in rubles - at least 1,000 rubles;
For deposits in US dollars - at least 100 US dollars;
For deposits in euros - at least 100 euros.
Table 2.4
Terms of the deposit "Replenishable deposit of Sberbank of Russia" in US dollars and euros (as of 01/01/2008)
Interest rates are set based on the amount of the down payment and are not subject to change within the period established by the agreement.
Interest is accrued after each three-month period, determined from the date of opening a deposit account (from the date of prolongation), as well as after the expiration of the main (prolonged) period. The depositor is granted the right to receive interest added to the balance of the deposit in full or in part. For the amount of interest paid, the income for the time of its storage in the current three-month period is calculated based on the interest rate set by the bank for demand deposits.
The deposit provides for repeated prolongation of the agreement for the same period, which is made before the bank decides to terminate the acceptance of the deposit on the terms and at the interest rate applicable to the bank for this type of deposits on the day following the day the next storage period ends.
In case of early demand by the depositor of the deposit amount during the main or extended period, the income for the incomplete storage period is calculated:
For deposits for 6 months based on the interest rate set by the bank for demand deposits;
For deposits for a period of 1 year 1 month: in case of early demand within the first 200 days (inclusive) of the main or extended term based on the interest rate set by the bank for a demand deposit; after the first 200 days of the main or extended period - based on 1/2 of the interest rate set by the bank for this type of deposits;
For deposits for a period of 2 years: in case of early demand during the first year of the main or extended period - based on 1/2 of the interest rate set by the bank for this type of deposit, after the first year of the main or extended period - based on 2/3 of the interest rate established by the bank for this type of deposit.
For the period of deposit storage after the last extended period, income is calculated in the manner and amount established by the bank for demand deposits.
3. Deposit "Special Sberbank of Russia" (in rubles, US dollars, euros).
On February 16, 2006, by Resolution of the Board of Sberbank of Russia No. 328 § 8a dated February 14, 2006, the deposit “Special Sberbank of Russia” was introduced in rubles, US dollars, euros for 6 months, the opening of new accounts on deposits “Special Sberbank of Russia” was resumed for 1 year and 1 month in rubles, the opening of new deposits "Special Sberbank of Russia" in US dollars, euros for 1 year and 1 month, for 2 years, as well as the prolongation of existing deposits (without the appearance of depositors) is made on the following conditions.
Table 2.5
Conditions of the "Special Sberbank of Russia" deposit in US dollars and euros (as of 01/01/2008)
| Name of deposit | Shelf life | Interest rate (% per annum) depending on the amount of the down payment | Note |
| Special, USD | 6 months |
10 000 $ - 5,25 % 100 000 $ - 5,5 % |
Additional contributions of at least $100 are accepted. It is possible to make transactions within the amount exceeding the size of the minimum balance. |
| 1 year 1 month | 1 000 $ - 6 % 10 000 $ - 6,25 % 100 000 $ - 6,5 % 500000$ -7,25 | ||
| 2 years | 1 000 $ - 6,25 % 10 000 $ - 6,5 % 100000 $ - 6,75 % 500 000 $ - 7,5 % | ||
| Special, in euro | 6 months | 1 000 € - 4,5 % 100006 -4,75% 100000€-5% | Additional contributions of at least €1,00 are accepted. It is possible to make transactions within the amount exceeding the size of the minimum balance |
| 1 year 1 month | 1 000 € - 5,5 % 10000€ -5,75% 100 000 € -6% 500 000 € - 6,75 % | ||
| 2 years | 1 000 € - 5,75% 10 000 € -6% 100 000 € -6,25% 500 000 € - 7 % |
The deposit is accepted in rubles, US dollars and euros both in cash and non-cash. The minimum amount of the down payment is at least 30,000 rubles, 1 thousand dollars (euro).
Interest rates are set based on the amount of the minimum balance and are not subject to change within the period established by the agreement. The amount of interest rates for deposits for which the size of the minimum balance is set at least 5,000,000 rubles, 500,000 US dollars or euros is determined by the territorial bank independently within the established ranges.
On the deposit, credit operations can be performed. The amount of additional contributions should be:
For deposits in rubles - at least 5,000 rubles;
For deposits in US dollars - at least 100 US dollars; - for deposits in euros - at least 100 euros.
The deposit provides the right to make debit transactions within the amount exceeding the size of the minimum balance. The deposit has the right to change the amount of the minimum balance upwards within 30 calendar days from the date of signing the agreement. In this case, the interest rate from the date of signing the agreement is set in the amount corresponding to the new minimum balance.
Interest is accrued after each three-month period, determined from the date of opening an account on the deposit (from the date of prolongation), as well as after the expiration of the main (prolonged) period. The deposit provides for repeated prolongation of the agreement for the same period, which is carried out before the bank decides to stop accepting the deposit on the terms and at the interest rate applicable to the bank for this type of deposits on the day following the day the next storage period ends. In case of early demand by the depositor of the deposit amount during the main or extended period, the income for the incomplete storage period is calculated:
For treasures for a period of 6 months, based on the interest rate set by the bank for a demand deposit;
For deposits for a period of 1 year and 1 month: in case of early demand within the first 200 days (inclusive) of the main or extended term based on the interest rate set by the bank for a demand deposit; after the first 200 days of the main or extended period - based on 1/2 of the interest rate set by the bank for this type of deposits;
For deposits for a period of 2 years: in case of early demand during the first year of the main or extended period based on 1/2 of the interest rate set by the bank for this type of deposits, after the first year of the main or extended period - based on 2/3 of the interest rate, established by the bank for this type of deposits.
4. Deposit "Pension deposit of Sberbank of Russia" (in rubles) for 2 years.
From February 16, 2006, in accordance with the Resolution of the Board of Sberbank of Russia No. 328 § 8a dated February 14, 2006, the opening of new deposits "Pension Deposit of Sberbank of Russia" for 2 years, as well as the prolongation of existing deposits (without the appearance of depositors) is made on the following conditions.
The deposit is accepted in rubles, both in cash and non-cash. The term of the deposit is 2 years. The minimum amount of the down payment is 1,000 rubles. Additional contributions and debit transactions on the deposit are not made. Interest rates are not subject to change during the period established by the agreement.
Interest is accrued after each three-month period, determined from the date of opening a deposit account (from the date of prolongation), as well as after the expiration of the main (prolonged) period.
The depositor is granted the right to receive interest added to the balance of the deposit in full or in part. For the amount of interest paid, the income for the time of its storage in the current three-month period is calculated based on the interest rate set by the bank for demand deposits.
The deposit provides for repeated prolongation of the agreement for the same period, which is made before the bank decides to terminate the acceptance of the deposit on the terms and at the interest rate applicable to the bank for this type of deposits on the day following the day the next storage period ends.
In case of early demand by the depositor of the deposit amount during the main or extended period, the income for the incomplete storage period is calculated:
In case of early demand during the first year of the main or extended term based on 1/2 of the interest rate set by the bank for this type of deposits;
In case of early demand after the expiration of the first year of the main or extended term 0 based on 2/3 of the interest rate set by the bank for this type of deposits.
For the period of deposit storage after the last extended period, income is calculated in the manner and amount established by the bank for demand deposits.
5. Deposit "Retirement replenishment deposit of Sberbank of Russia" (in rubles) for a period of 3 months and 1 day, 6 months, 1 year and 1 month, 2 years.
The deposit "Retirement replenishable deposit of Sberbank of Russia" for a period of 3 months and 1 day, 1 year and 1 month, 2 years was introduced from February 16, 2006 by the Resolution of the Board of Sberbank of Russia No. 328 § 8a of February 14, 2006.
The contribution is accepted from persons receiving pensions from the Pension Fund of the Russian Federation (territorial bodies of the PFR), ministries and departments providing pensions, and from non-state pension funds. The initial contribution is accepted from the depositor (trustee, legal representative) upon presentation of their passport and pension certificate, with the exception of the following. A depositor who has reached retirement age can open a deposit without presenting a pension certificate. An authorized person (legal representative) may open a deposit in the name of a depositor who has reached retirement age without presenting the depositor's pension certificate.
The deposit is accepted in rubles, both in cash and non-cash. Deposit term: 3 months and 1 day, 6 months, 1 year and 1 month, 2 years. The minimum amount of the down payment is 300 rubles. On the deposit, credit operations can be performed. The amount of additional contributions must be at least 300 rubles. Interest rates are not subject to change during the period established by the agreement.
Interest is calculated:
For deposits for a period of 3 months and 1 day after the expiration of the main (extended) period;
For deposits for a period of 6 months, 1 year and 1 month, 2 years after the expiration of each three-month period, determined from the date of opening a deposit account (from the date of prolongation), as well as after the expiration of the main (prolonged) period.
The depositor is granted the right to receive interest added to the balance of the deposit in full or in part
For deposits for a period of 3 months and 1 day for the amount of interest paid, the income for the time of its storage after the last full period of storage is calculated based on the interest rate set by the bank for demand deposits;
For deposits for a period of 6 months, 1 year and 1 month, 2 years for the amount of interest paid, the income for the time of its storage in the current three-month period is calculated based on the interest rate set by the bank for demand deposits.
The deposit provides for repeated prolongation of the agreement for the same period, which is carried out before the bank decides to stop accepting the deposit on the terms and at the interest rate applicable to the bank for this type of deposits on the day following the day the next storage period ends. In case of early demand by the depositor of the deposit amount during the main or extended period, the income for the incomplete storage period is calculated:
For deposits for a period of 3 months and 1 day and 6 months based on the interest rate set by the bank for demand deposits;
For deposits for a period of 1 year and 1 month: in case of early demand within the first 200 days (inclusive) of the main or extended term based on the interest rate set by the bank for a demand deposit; after the first 200 days of the main or extended period - based on 1/2 of the interest rate set by the bank for this type of deposits;
For treasures for a period of 2 years: in case of early demand during the first year of the main or extended period based on the interest rate set by the bank for this type of deposits, after the first year of the main or extended period - based on 2/3 of the interest rate set by the bank according to this type of investment.
For the period of deposit storage after the last extended period, income is calculated in the manner and amount established by the bank for demand deposits.
6. Deposit "Universal Savings Bank of Russia" (in rubles, US dollars, euros) for 5 years.
The deposit was introduced on August 15, 2002 by the Resolution of the Board of Sberbank of Russia No. 280 § 4 of July 25, 2002. The deposit is accepted in rubles, US dollars and euros. The deposit term is 5 years.
The minimum amount of the down payment on the deposit is: - on the deposit in rubles - 10 rubles;
For a deposit in US dollars - 5 US dollars;
For a deposit in euros - 5 euros.
The interest rate is fixed, i.e. not subject to change during the term of the deposit specified in the contract. On the deposit, any operations provided for on demand deposits can be performed. The balance of the deposit after the debit transaction must be: - for a deposit in rubles - at least 10 rubles;
For deposits in US dollars - at least 5 US dollars;
For a contribution in euros - not less than 5 euros.
Interest is added to the balance of the deposit at the end of each three-month period, determined from the date of opening an account on the deposit from the date of expiration of the main (extended) period, as well as after the expiration of the main (extended) period.
For the amounts of all transactions made on the deposit, including closing before the expiration of the term, the income on the deposit is calculated based on the interest rate set by the bank for this type of deposits. After the bank decides to stop opening new accounts for this type of deposits, no prolongation is made. Upon the expiration of the last extended term, the income on the deposit is calculated based on the interest rate set by the bank for demand deposits.
7. Contribution " Salary of Sberbank Russia" (in rubles) for 5 years.
The deposit was introduced on August 15, 2001 by the Resolution of the Board of Sberbank of Russia No. 257 § 2 of July 26, 2001. The deposit is accepted in rubles. Deposit term - 5 years. The minimum amount of the down payment on the deposit is 10 rubles.
The interest rate is fixed, i.e. not subject to change during the term of the deposit specified in the contract. On the deposit, any operations provided for on demand deposits can be performed. The balance of the deposit after the debit transaction must be at least 10 rubles.
Interest is added to the balance of the deposit at the end of each three-month period, determined from the date of opening an account on the deposit from the date of expiration of the main (extended) period, as well as after the expiration of the main (extended) period. For the amounts of all transactions made on the deposit, including closing before the expiration of the term, the income on the deposit is calculated based on the interest rate set by the bank for this type of deposits.
After the bank decides to stop opening new accounts for this type of deposits, no prolongation is made. For the period of deposit storage after the last extended term, the income is calculated on the basis of the interest rate established for demand deposits.
8. Deposit “Pension-plus of Sberbank of Russia” (in rubles) for 3 years.
The deposit was introduced on August 15, 2001 by the Resolution of the Board of Sberbank of Russia No. 257 § 2 of July 26, 2001. The deposit is accepted in rubles. The term of the deposit is 3 years. The deposit account can be opened by the depositor (trustee, legal representative). The deposit is accepted in the name of individuals receiving pensions from the Pension Fund of the Russian Federation (territorial bodies of the PFR), ministries and departments providing pensions, and from non-state pension funds.
Opening an account is carried out upon presentation of a passport and a pension certificate, with the exception of the following. A depositor who has reached retirement age can open a deposit without presenting a pension certificate. An authorized person (legal representative) may open a deposit in the name of a depositor who has reached retirement age without presenting the depositor's pension certificate.
The minimum amount of the down payment on the deposit is 1 ruble. On the deposit, any operations provided for on demand deposits can be performed. The balance of the deposit after the debit transaction must be at least 1 ruble.
The interest rate is fixed, i.e. not subject to change during the term of the deposit specified in the contract. Interest is added to the balance of the deposit at the end of each three-month period, determined from the date of opening an account on the deposit from the date of expiration of the main (extended) period, as well as after the expiration of the main (extended) period.
For the amounts of all transactions made on the deposit, including closing before the expiration of the term, the income on the deposit is calculated based on the interest rate set by the Bank for demand deposits.
9. Deposit "On Demand of Sberbank of Russia".
The deposit is accepted in rubles and foreign currency. The term of storage of the deposit is not limited. The minimum amount of the initial deposit when making a cash deposit is:
For a deposit in rubles - 10 rubles;
For a deposit in US dollars - 5 dollars;
For a deposit in euros - 5 euros;
For deposits in other types of currencies - set by territorial banks independently.
The interest rate on the deposit is 0.1% per annum.
When opening an account by bank transfer, the amount of the initial contribution is not limited. The Bank has the right to change the interest rate set for the deposit during the term of the agreement. The new interest rate takes effect from the date announced by the bank.
On the deposit, credit and debit transactions are made in cash and non-cash. Debit transactions are made within the limits of the balance on the account at the time of payment. When the entire amount of the deposit with accrued interest is claimed, the deposit account is closed. Interest on the deposit is added to the balance of the deposit after each quarter and when the account is closed.
2.3 Interest and deposit policy of Sberbank of the Russian Federation on attracted funds from the population
At the macroeconomic level, interest rate policy is a set of measures in the field of interest aimed at ensuring the profitability of the credit system and ensuring optimal rates of economic development. The level of deposit interest rates is set by each bank independently, focusing on the discount rate (refinancing rate) of the Central Bank of the Russian Federation, the state money market and based on its own deposit policy. By raising the discount rate, the Central Bank encourages lending institutions to reduce borrowing. This makes it difficult to replenish reserve accounts, leads to a reduction in lending operations and, as a result, to an increase in interest rates on loans. If the Central Bank lowers the discount rate, it makes it easier for commercial banks to replenish reserve accounts and leads to lower interest rates.
Payment by the Bank of interest on deposit operations is the main part of operating expenses. Therefore, the bank, on the one hand, is not interested in a high level of interest rates, and on the other hand, it is forced to maintain such a level of interest rates on deposits that would be attractive to customers. Trying to attract deposits, especially large ones and for long periods, commercial banks offer high interest rates to their customers, despite the growth in interest costs.
When setting the scale of interest rates, the Bank must comply with the following principles: the level of interest rates on the operations of commercial banks must be based on the state of demand for credit resources.
Any increase in demand should determine the degree of increase in interest rates on bank operations; the value of the interest rate should be linked to the period of storage of funds in deposits - the longer the period, the higher the interest on it should be provided to depositors. This encourages the depositor to invest funds for a longer period, and the bank makes it possible to direct these funds for long-term lending and, therefore, at a higher interest rate.
The size of the interest rate on deposits (deposits) is established in the bank deposit agreement. In the absence of a clause in the agreement on the amount of interest paid, the bank is obliged to pay interest in the amount of the refinancing rate of the Bank of Russia.
When calculating interest, the interest rate is taken into account, the actual number of days for which funds are attracted. Interest is calculated in one of 4 ways: simple interest, compound interest, fixed interest rate, floating interest rate. If the contract does not specify the method of calculating interest, then it is made according to the simple interest formula using a fixed interest rate.
The traditional type of income calculation is simple interest, when the actual balance of the deposit is used as the basis for calculation and with a specified frequency, based on stipulated by the agreement interest, the deposit is calculated and paid.
Simple interest is calculated as follows:
P \u003d P x Ix n / 100 x K, where (2.1)
P - the amount of accrued interest
I - annual interest rate
n - term of the deposit
Another type of income calculation is compound interest (interest on interest). In this case, after the expiration of the billing period, interest is charged 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.
Compound interest is calculated as follows:
S = Р x (1 + Iх j/ К) n , where (2.2)
S - the amount of money due to be paid
P - the initial amount of funds raised
I - annual interest rate
j - the number of calendar days in the period following which the bank
capitalizes accrued interest
K - number of days in a calendar year (365 or 366)
n - term of the deposit
A progressively increasing interest rate is also applied, depending on the time the funds are actually on the deposit. This procedure for accruing income stimulates an increase in the period of storage of funds and protects the deposit from inflation.
For a depositor who chooses a bank for the purpose of placing funds, the determining factor (ceteris paribus) may be the procedure for calculating the amount of interest. The fact is that when calculating, some banks proceed from the exact number of days in a year (365 or 366), while others from an approximate number (360 days), which affects the amount of income.
At present, each bank began to independently determine the level of interest rates, taking into account the influence of a number of factors: - the ratio of supply and demand for financial markets, the refinancing rate of the Central Bank of the Russian Federation, the term and amount of funds raised, the stability of money circulation, inflation rates, the profitability of the bank, the degree of risk of this operation, the solvency of the client, competition between banks. Recently, there has been a decrease in interest rates on household deposits. This is primarily due to the policy of the Bank of Russia, which reduces the rate on loans, which entails a reduction in the rate on deposits.
The Savings Bank has a huge potential for stability, which is especially important and necessary in such banking systems as the Russian one. The stability of Sberbank of the Russian Federation is ensured primarily by the traditional trust in the system, brought up by many generations of depositors, by the very history of Sberbank in Russia, which began more than 160 years ago, as well as by the presence of an extensive system of banking institutions located throughout Russia.
In addition, the stability of the bank and its attractiveness for depositors is explained by the participation of the state in the affairs of the bank.
As the main sources of raising funds, the bank determines: household savings - the main and most stable investment resource.
Funds of legal entities are the most dynamically growing component of the bank's liabilities.
The funds raised in the international financial markets are a long-term liability for expanding the financing of investment projects.
Stabilization of political and economic situation in the country, growth real income of citizens, the high level of public confidence in Sberbank of the Russian Federation allowed the Bank to achieve high rates of attracting household funds in deposits. The cumulative increase in household cash balances in deposits amounted to 202.7 billion rubles in ruble terms.
As of January 1, 2008, about 69% of the bank's attracted funds are funds of private clients attracted to deposits. In 2007, household deposits were still the main resource base of Sberbank of Russia. As a result of the reporting year optimizing the product range and interest rate policy, actively attracting customers to transfer wages and pensions through Sberbank of Russia, the balance of funds on deposit accounts increased by 38.9% over the year to 2.5 trillion. rubles. (See Fig. 2.4.)
Rice. 2.4 Dynamics of household deposits
The inflow was provided mainly by ruble funds, which was facilitated by the continued stabilization of the ruble exchange rate. At the end of the year, the balance of deposits in rubles increased by 545.7 billion rubles. Accordingly, the weakening of the US dollar affected the decrease in the attractiveness of deposits in this currency - the balances dollar deposits decreased by 660.7 million US dollars. And the balances of deposits in euro during the year steadily increased - the increase amounted to 540.0 million euros.
In general, over the year, the share of deposits in the structure of the Bank's resources decreased
by 1.5%. Accordingly, the degree of diversification of the resource base at the expense of other sources has increased.
The structure of funds raised by Sberbank of Russia is shown in Figure 2.5.
Rice. 2.5 Structure of funds raised
Thus, the share of deposits of individuals has consistently occupied the main place in the structure of attracted funds over the past few years.
Following market trends, Sberbank during 2006-2007. raised interest rates on household deposits, which had a corresponding impact on the indicators of the resource base. But despite the surge in interest rates caused by the change in the interest rate policy of Sberbank upward, in general, there was a downward trend in the level of interest rates on deposits of individuals.
To assess the stability of monetary deposits of the population, the indicator of the level of settling of funds in deposits can be used as a resource for short-term lending. It is calculated by the formula:
Y 0 \u003d O to - O n / P * 100%, where (2.3)
Y 0 - the level of settling of funds in deposits;
About to - the balance of the deposit at the end of the period;
O n - the balance of the deposit at the beginning of the period;
P - receipts on deposits.
To determine the most reliable source of resources for conducting active operations, we calculate the level of settling of funds for each type of deposit separately.
For example, the level of settling of funds on a deposit:
1. DEPOSIT: Y 0 = 139058.3-135151.3 / 38614.7 * 100% = 10.1%
2. SPECIAL: Y 0 \u003d 23316.4-19429.5 / 4317.7 * 100% \u003d 90.0% Based on the data obtained, we compile table 2.6.
Table 2.6
"The level of settling of funds in deposits under OSB No. 587 of the Savings Bank of the Russian Federation for 2007"
The table shows that the funds are deposited mainly on the following deposits: pension deposit, pension replenishment deposit, universal, replenishment deposit.
The movement of funds of individuals by types of deposits are presented in appendices 5.6.
In this case, mutually canceling fluctuations in the inflow and outflow of funds on these accounts form a large and stable balance of funds that the bank can direct to lending activity. For other deposits, there is also a positive level of settling of funds, when the level of balances at the end of the year exceeds the level of balances at the beginning of the year. Therefore, these types of deposits are very suitable for active operations.
Thus, the results of the activities of Sberbank of Russia in raising funds are very impressive. This is due to the fact that, using favorable macroeconomic conditions, Sberbank of Russia actively promoted long-term instruments for attracting household funds to the market.
In a relatively short period of time, Sberbank managed to significantly reduce the share of demand deposits and increase the volume of term deposits, which proved to be more stable during the crisis period. At the same time, the Bank managed to increase the share of socially oriented deposits in the total volume of deposits of the population ("Pension", "Salary"), which led to an increase in the cost of attracted funds from individuals.
In addition, Sberbank pursues interest and tariff policies based on the profitability of operations and an assessment of market conditions. Significant volumes of products sold and services provided reduce the cost of individual transactions and thus provide the most competitive prices for bank customers. Moreover, Sberbank's pricing policy reflects both regional differences and the peculiarities of transactions with the main categories of customers.
All of the above allows us to conclude that Sberbank of Russia is pursuing a rational deposit policy, taking into account economic and social factors. However, this does not mean that the deposit policy of Sberbank of Russia is ideal; it undoubtedly needs to be improved.
CHAPTER 3 PROSPECTS FOR THE DEVELOPMENT OF OPERATIONS OF SBERBANK OF THE RUSSIAN FEDERATION TO ATTRACT FUNDS IN DEPOSITS
3.1 Prospects for the development of deposit operations
Determining the prospects for its further development, Sberbank of Russia takes into account the influence of internal and external factors that affect the development of the country and society as a whole, as well as its banking sector. The Bank seeks to develop its competitive advantages and considers them as the basis for an adequate response to the challenges of the new time.
The aggravation of competition in all segments of the banking market, including from non-banking financial intermediaries and foreign credit institutions, the need to increase capitalization and increase the volume of business is determined for Sberbank of Russia as a strategic goal - increasing its investment attractiveness, maintaining leadership in the Russian financial services market by modernizing management and technological processes.
In order to ensure the growth of investment attractiveness, Sberbank's activities will be aimed at ensuring high business efficiency. In addition, the bank will focus its efforts on increasing its information transparency, and will develop and improve the corporate governance system.
The main condition for maintaining a leading position in the national banking services market will be the improvement of the client policy. The Bank will focus its efforts on creating a flexible and efficient system of interaction with clients that takes into account the needs of various client groups. The development of the branch network and the expansion of the use of alternative distribution channels will be aimed not only at solving the problem of increasing the availability of banking services, but also at solving the problem of improving the quality of customer service. A necessary condition for solving the problems facing Sberbank in the field of business development will be a comprehensive modernization that will optimize the management system, increase the efficiency of the distribution network, ensure the growth of labor productivity and control costs both by optimizing business processes and reaching a qualitatively new level of automation.
The main tasks of Sberbank in the field of attracting resources for the period up to 2008 will be:
Maintaining a leading position in the market for attracting citizens' savings, stimulating the savings and investment activity of the population by providing the Bank's depositors with the opportunity to choose effective forms of savings that meet client requirements for liquidity, profitability and reliability, ensuring the growth and accumulation of invested funds. Preservation of priority price conditions for deposits for the least socially protected groups of the population;
Preservation and possible increase in the market share of banking services for corporate clients, formation of long-term preferences among clients in using the bank's services;
Assistance in attracting foreign investment to the Russian economy, diversifying the Bank's resource base, including through external borrowing;
In order to create a resource base for expanding active operations, investing in the real sector of the economy and reducing its own interest rate risks, the Bank identifies as the main priorities in the formation of the resource base: total cost resources, optimization of the structure of attracting resources according to the parameters "price - term - risk of revaluation or early withdrawal".
Attracting funds from individuals to deposits and bank card accounts. The consequences of socio-political and economic instability and inflationary expectations, characteristic of the post-crisis period, seriously complicate the problem of the population's choice of effective forms of savings. As inflation slows down, production growth accelerates, wage and pension arrears decrease, personal income tax rates decrease, the Bank's ability to raise household funds will increase.
Sberbank's attraction policy will be aimed at maintaining its leading position in the retail deposit market. The savings of the population will continue to be the basis of the resource base. The Bank will offer new financial products for individuals, developed on the basis of an assessment of macroeconomic parameters, regular monitoring of regional markets for deposits and services, and the level of demand for certain conditions on deposits. The deposits offered by the Bank will take into account the needs of all social and age groups citizens - working and pensioners, young people and middle-aged people, and will be designed for both the low-income segments of the population and people with an average and high income.
Sberbank's interest rate policy on term deposits of individuals will be aimed at offering interest rates that take into account market conditions and reserve requirements of the Bank of Russia, which will ensure the growth and accumulation of invested funds for depositors. Among the priorities of the interest rate policy will be an increase in the share of long-term deposits. The desire to involve the "mattress" funds of the population in economic circulation leads to the need to increase the attractiveness and stimulate the growth of not only ruble, but also foreign currency deposits. The implementation of such an interest rate policy will allow the Bank to significantly reduce interest rate and currency risks. While optimizing the structure of deposits by terms of attraction, the Bank will take into account the risk of the possibility of unconditional early withdrawal of the deposit by the depositor, which is provided for by the Civil Code.
The Bank plans to increase balances on bank card accounts up to 4-7% of the total volume of attracted funds from individuals. As a top priority, Sberbank highlights work with enterprises, universities, and institutions on the proposal of salary projects.
Attracting funds from legal entities to settlement, current accounts and deposits, in order to improve the structure of attracted resources and provide competitive price conditions for investments in the real sector of the economy, the Bank sets one of the main tasks in the field of raising funds to maintain and increase its share in the corporate banking market . It is planned to increase the share of funds attracted from corporate clients to settlement and current accounts and deposits to a level of at least 25% in the structure of the bank's attracted funds, which will also help reduce interest rate risk and increase the volume of non-interest income of the bank.
The goal is expected to be achieved through the formation of long-term relationships and mutually beneficial cooperation with customers. Sberbank plans to form and replicate a standard portfolio of banking products for individual entrepreneurs and small business, available in all regions of Russia.
For medium and large companies, the bank will create a comprehensive service system tailored to the needs of the client, offer the full range of banking products and services accepted in international banking practice.
Servicing of this group of clients will be developed on the basis of flexible technologies, providing for the maximum adaptation of the bank's technological capabilities to the requirements of the client. The Bank will pay special attention to the quality of service, the speed of transactions, the development of the "Client-Bank" system. Regional peculiarities will be taken into account when forming the product line, interest rate and tariff policy.
In relationship with budget organizations, budgets of various levels, Sberbank will adhere to the principle of providing a full range of high-quality banking operations and services at the lowest prices. The Bank will develop and implement special service conditions aimed at Insurance companies and non-state pension funds, regional exchanges.
The development of long-term partnerships with clients and comprehensiveness in the provision of services will reduce the risk of fluctuations in balances on the accounts of the Bank's corporate clients, making them more predictable and planned.
In addition, Sberbank will continue the practice of raising funds from individuals and legal entities by issuing debt and bank certificates and intends to keep the share of this type of resources at the level of 6 - 8% of the volume of funds attracted by the Bank.
Sberbank of Russia will continue to develop centralized databases that will enable all branches to issue and record bills of exchange, certificates of deposit, and other securities of the bank, will improve the procedure for accounting for its own bills, promote the development of the secondary market and increase the liquidity of bills by expanding the range of transactions using data tools.
The issue of certificates of deposit for legal entities and savings certificates for individuals will be resumed. The bank intends to issue its own bonds aimed at various groups of customers.
3.2 Payment cards as a promising direction for the development of banking products of Sberbank of the Russian Federation in the market of deposits of citizens
In the context of the rapid development of information, technology and electronic payments, the task is to provide modern banking services, we are introducing, in particular, the development of settlements with payment cards.
Sberbank of Russia offers a wide range of bank cards of international payment systems Visa International and MasterCard International, as well as microprocessor cards of Sberbank of Russia SBERKART.
VisaGold and MasterCardGold cards are evidence of your solvency and support of your prestige, a convenient means for non-cash payments at trade and service points, as well as for cash withdrawals at bank branches and ATMs around the world.
The main advantages of the cards: join the game with a MasterCard card from Sberbank of Russia; allowed overdraft on the card account; use in almost any country in the world; payment for goods and services, receipt of cash, the possibility of obtaining a card for special conditions and availability of additional services.
Basic personal Visa cards Gold and MasterCardGold can be issued to individuals - residents of the Russian Federation who have an identity document, aged 18 to 70 and have registration (propiska) in the service area of a territorial bank.
Sberbank of Russia offers you the international bank cards VisaClassic "Aeroflot" and VisaCold "Aeroflot", the holders of which become participants in the "Aeroflot Bonus" program implemented by JSC "Aeroflot - Russian Airlines".
Each time when paying for goods (services) in trade and service establishments using Aeroflot Visa cards, both in Russia and abroad, the cardholder is credited with additional miles, which are added to the total number of miles accrued under the Aeroflot Bonus program ", and can be used to obtain the right to award flights on regular flights of Aeroflot - Russian Airlines, to upgrade the class of service and receive awards from the affiliate network of the Aeroflot Bonus program.
The main advantages of the cards: permitted overdraft on VisaGold "Aeroflot" card account; when opening "Visa Aeroflot" cards, "welcome" bonus miles are accrued under the "Aeroflot Bonus" program; VisaGold "Aeroflot" - 1000 miles; VisaClassic "Aeroflot" - 500 miles.
Miles are credited when paying for goods and services using an Aeroflot Visa card, as well as all cards issued to its account at the rate of: for Visa Classic Aeroflot cards - one Mile for every one US dollar / euro or 30 rubles, depending from the currency of the card account; from 15.02.2008 for Aeroflot VisaGold cards - one and a half Miles for every one US dollar / euro or 30 rubles, depending on the currency of the card account.
Use the accumulated miles to get the right to award flights on regular flights of Aeroflot - Russian Airlines, to upgrade the class of service and receive awards from the affiliate network of the Aeroflot Bonus program.
Visa Classic, MasterCardMass. The main advantages of the cards: join the game with a MasterCard card from Sberbank of Russia; use in almost any country in the world, the cost of annual service when using the card for more than 12 months; the possibility of obtaining a card on special conditions. Cards provide additional services.
Main personal cards VisaClassic and MasterCardMass can be issued to individuals - residents of the Russian Federation who have an identity document, have reached the age of 18 and have registration (propiska) in the service area of a territorial bank. Sberbank-Maestro, Sberbank-VisaElectron. The main advantage of these cards is their availability, as well as: use for settlements and cash receipts; the possibility of obtaining a card on special conditions. Additional services are provided.
The main personal cards Sberbank-Maestro, Sberbank-VisaElectron can be issued to individuals - residents of the Russian Federation who have an identity document, have reached the age of 14 and have registration (propiska) in the service area of a territorial bank.
Sberbank-Maestro "Student" is issued to students and students of secondary specialized and higher educational institutions, as well as graduate students of Sberbank of the Russian Federation. You can pay without commission at trade and service points marked with the Maestro trademark, as well as receive cash at cash points and ATMs throughout Russia; replenish the card account both by transferring a scholarship by an educational institution, by depositing cash or by transfer; receive income on the funds on the card account.
Sberbank-Maestro "Student" cards can be issued to students and students of specialized secondary (technical schools, vocational schools, etc.) and higher educational institutions and graduate students, regardless of the form of education (full-time, evening, correspondence) - individuals (as residents, and non-residents of the Russian Federation) who have reached the age of 14 and have an identity document.
The Sberbank of Russia microprocessor card SBERKART is used to make cashless payments in Russia, as well as to receive cash at branches and ATMs of Sberbank of Russia.
The main advantages of the cards: an impeccable security system based on the appointment of user passwords by the client; prompt issuance of a card - within a few minutes; a wide infrastructure for servicing cards (ATMs, cash points, trade and service outlets); the ability to reflect funds on the card in real time; reduction in the cost of annual maintenance when using the card for more than 12 months. Provision of additional services in accordance with the card. Cards are issued to individuals - residents and non-residents of the Russian Federation upon presentation of an identity document and payment of an annual service fee.
According to plastic cards, interest is accrued on the balance of funds on accounts.
Table 3
"Accrual of interest on the balance of funds"
| Interest rate | ||||
| Name of the card product | Account currency (rubles) | Account currency (У8В, ETJO) | ||
| Calculation of interest on the balance of funds on the bank card account of an individual (quarterly accrual) | ||||
| Visa Gold, Gold MasterCard of all tariff plans | 0.1% per annum | 0.25% per annum | ||
| Visa Classic, MasterCard Mass, Visa Aeroflot, Visa Classic Golden Mask | 0.1% per annum | |||
| Sberbank-Maestro, Sberbank-Visa Electron | 0.1% per annum | |||
| VisaClassic, MasterCardMass, Visa Aeroflot, VisaClassic "Golden Mask", Sberbank-Maestro, Sberbank-VisaElectron issued within the framework of the agreement concluded between the bank branch and the Enterprise (Organization, educational institution) | 1% per annum | |||
| Sberbank-Maestro "Student" | 1% per annum | |||
| Sberbank-Maezih "Social" - for receiving a pension - for receiving social benefits, subsidies and other social payments (in addition to pensions) | 4% per annum 1% per annum | |||
| SBERCARD "Personal" | 0.1% per annum | |||
| SBERCARD "Salary" | 1% per annum | |||
| Table 3 continued | ||||
| Calculation of interest on the balance of funds on reserve accounts of international bank cards | 4% per annum | 2.5% per annum | ||
| Table 3 continued | ||||
| Calculation of interest on the balance of funds on the business account of an enterprise (organization) | ||||
| VISA Business, MasterCard Business | not provided | |||
| SBERCARD "Corporate" | not provided | |||
Sberbank of Russia presented New Product- application "Mobile Bank" for cell phone GSM standard.
"Mobile Bank" is a set of services provided by Sberbank of Russia via mobile communications to holders international cards Sberbank of Russia. It provides the ability to control the state of the card account using a mobile phone in GSM networks.
The application simplifies work with the Mobile Bank by automatically generating requests to the bank, and also provides a convenient interface for making payments in favor of organizations. You can download the application here. To register the identifiers of payees and receive information about the transactions performed through the Mobile Bank, you can use the personal page of the Mobile Bank subscriber.
Sberbank of Russia offers the following types of additional services: help desk; mobile bank; accepting payments through ATMs; acceptance of cash for crediting to card accounts; non-cash transfer (write-off, transfer); insurance; membership in the COUNTDOWN program; car rental at HERTZ; providing discounts.
These operations are carried out without charging a commission using international bank cards of both Sberbank of Russia and third-party banks. Cashless transfer (debit, transfer) of funds is carried out using bank cards of Sberbank of Russia (except corporate cards international payment systems).
On behalf of the holder of a bank card of Sberbank of Russia, funds can be transferred to accounts of legal entities opened in structural divisions branch of Sberbank of Russia or other credit and financial organizations, except for transfers (write-offs, transfers) outside the Russian Federation.
3.3 Proposals for improving deposit operations at Sberbank of the Russian Federation
When attracting funds, the choice remains with the client, and the bank is forced to compete fiercely for the depositor, who is quite easy to lose. The limited resources associated with the development of banking competition leads to close attachment to certain clients. 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 the Bank is usually limited to a certain group of clients, to which it is attached much more strongly than to borrowers. As a result, in the current situation, in order to solve the problem of forming the bank's resource base, it is necessary to intensify work to expand the circle of depositors.
Increasing competition for customer funds requires modern banks to pay increased attention to improving the methods used to manage attracted resources.
The legislative framework establishes the foundations of banking activities to attract resources. In addition to laws, the Bank's activities are regulated by detailed regulations of the Bank of Russia, which define the main requirements for banks.
The monetary policy pursued by the Bank of Russia has a significant impact on the activities to attract resources.
Reserve requirements have historically performed the function of securing the obligations of banks to depositors and creditors, which is not so important in the context of the creation of a deposit insurance system. In modern conditions, the policy of reserve requirements has a great impact on the volume and structure of attracted resources, and mainly on the cost of attracted resources. Of course, the establishment of required reserves by the Bank of Russia is justified. But for a bank, as you know, reserve requirements mean the need to divert part of the attracted resources to reserve accounts, and, consequently, reduce the amount of resources that can be used to conduct profitable active operations.
At present, the Bank of Russia has slightly softened reserve requirements. The need for reserve deductions and deductions to the mandatory deposit insurance fund causes the “raise in price” of attracted resources. Reducing the required reserves on household deposits would allow banks to offer higher and, accordingly, more attractive interest rates for customers.
An important method of managing the attracted resources of the bank is the diversification of attracted resources.
Diversification (from Latin diversification - change, variety) of deposits involves the expansion of modifications of deposit services, and speaking in a simple way, an increase in the variety of types of deposits offered by the bank. In recent years, the range of deposit services has expanded significantly and continues to expand, and banks strive to meet the needs of various categories of depositors as much as possible: hence youth deposits, pension deposits, deposits for VIP clients, etc.).
Other methods of managing the attracted resources of the bank are the differentiation of interest rates; billing; limitation.
It should be noted that the bank strives to maximally differentiate interest rates for various deposit services in order, firstly, to meet the needs of customers to the maximum, and secondly, to ensure optimal profitability.
For the greatest interest of customers, Sberbank of Russia may offer interest payment on deposits placed in advance in order to compensate for inflationary losses. In this case, the investor, when placing funds for a certain period, immediately receives the income due to him. However, if the agreement is terminated early, the Bank will recalculate the interest on the deposit and the overpaid amounts will be deducted from the deposit amount.
Tariffication as a method of managing attracted resources is associated with the establishment and change of tariffs for certain banking services. The tariff base is banking fees and service charges (account maintenance, etc.). The Bank sets tariffs for opening, maintenance and servicing of accounts separately for individuals and legal entities. Tariffs are set, for example, for the following services in terms of attracted resources of individuals: opening an account (may be free); monthly fee for maintaining a personal account (charged without acceptance); crediting cash to the account (usually free of charge); providing an account statement on all transactions performed.
The main purpose of the application and development of the billing method is to improve the quality of service and organize new forms of services, which ultimately is aimed at increasing the total balance of funds on current, settlement and other accounts of customers. With the same ultimate goal, limitation is carried out - this is the establishment by the bank of various restrictions (limits).
Of particular relevance today is the portfolio method of managing attracted resources. The purpose of applying this method is to ensure a balance between attracted and placed resources in terms of terms and interest. Therefore, the Bank needs a competent deposit policy, which is based on maintaining the required level of diversification, ensuring the possibility of attracting funds from other sources and maintaining a balance with assets in terms of terms, volumes and interest rates. In order to maintain a stable position and dynamic development in the deposit services market, Sberbank of Russia also created a deposit insurance system. This system beneficial for both the Bank and its customers. For clients, the deposit insurance system is attractive in terms of the safety of their deposits in the event of a possible bankruptcy of the Bank, which will ensure this bank comparative advantages compared to other banks where such a system does not exist. This system gives the Bank an additional inflow of temporarily free funds of the population and legal entities into deposits, because. be sure that his contribution is protected in crisis situations. The inflow of funds will accordingly allow the Bank to expand its base for lending to the real sector of the economy. The objects of insurance in the first place (due to the lack of funding sources) are deposits of individuals, and in the future, deposits of legal entities.
Sberbank of Russia is included in the register of banks participating in the mandatory deposit insurance system. (Sberbank of Russia was admitted to the deposit insurance system at a meeting of the Banking Supervision Committee of the Bank of Russia on December 29, 2004). From January 11, 2005, funds of individuals in rubles and foreign currency placed with the bank on the basis of a bank deposit agreement or a bank account agreement, including interest accrued on the amount of the deposit, are considered insured. It is obvious that the creation of DIS equalized Sberbank with other commercial banks, depriving it of competitive advantages from having a full state guarantee for all attracted deposits from the population.
Initially, the law provided for two features of his participation: 1) a special account will be opened for Sberbank, in which funds transferred to the deposit insurance fund will be stored, these funds cannot be used to pay compensation to depositors of other banks; 2) until January 1, 2007, Sberbank depositors continued to have a 100% state guarantee.
However, despite the equalization of the rights of Sberbank with other commercial banks, it remains the largest bank in the country with the most developed branch network, which the population used to trust.
One of the options for solving the problem of activating the Bank's activities to attract savings from the population is the creation of a system for guaranteeing bank deposits. The introduction of the bank deposit guarantee system solves the following tasks: protection of small depositors; increase in savings; increased competition in the banking sector.
In turn, the deposit guarantee system allows to solve the following tasks:
Attracting long-term resources to the banking sector;
Increasing the investment activity of credit institutions;
Growth of confidence in the banking system, primarily on the part of small depositors;
Improving the stability of the banking sector;
Reducing the likelihood of systemic risk.
The organization of a deposit guarantee system makes sense only if the goal is to support individual credit institutions, subject to the stable functioning of the entire banking sector. In the event of a systemic crisis, the partial guarantees on which the deposit insurance scheme is based will neither maintain nor restore it.
The adoption in December 2003 of Federal Law No. 177-FZ “On insurance of deposits of individuals in banks of the Russian Federation” predetermined a change in the near future quality characteristics banking system, among which are the following:
Increasing its resource base. The transfer of financial resources to the banking system is estimated by economists at 10-20 billion dollars. At the same time, this process at the initial stage will be accompanied by an outflow of funds from the Savings Bank, whose interest rates on deposits were traditionally lower than the interest rates of private commercial banks.
Growth in the share of deposits equivalent in size to the amount of guarantees (ie up to 100 thousand rubles). Accordingly, the strategy of individual creditors with larger amounts will be based on the placement of funds with different credit institutions. Thus, a uniform distribution of resources among commercial banks will be achieved.
Emergence of investment opportunities alternative to deposit operations. At the same time, banks will be interested both in reducing the costs associated with paying insurance premiums and in striving to retain the most profitable customers.
Sberbank of Russia traditionally leads the private deposit market. More than 2.5 trillion rubles are concentrated on its deposits. rubles. But commercial banks are not ready to agree with its primacy and are beginning to actively offer new products, moreover, at a more attractive price than the market leader. That is why Sberbank of the Russian Federation needs to improve its deposit policy, taking into account the conditions of products offered by competitors.
It has already been said above that the bulk of the funds raised by Sberbank of Russia are deposits from the population. However, statistics show that the share of bank savings in the total savings of citizens does not exceed 20-30%, which indicates significant opportunities for a significant increase in the passive base by attracting household savings. In fact, competition between banks for the funds of depositors today takes place only in the market of short-term savings of the population and does not affect the means of accumulation. Political and economic instability of the last decade, distrust of citizens to Russian currency, numerous facts of bankruptcy of large financial companies and banks are constrained by the involvement of household funds in economic turnover. As the economic and political situation in the country stabilizes, the possibilities of attracting these funds will increase. Competitive advantages in this market will be given to banks that are able to guarantee customers the safety of deposits and ensure the provision of a full range of quality banking services.
The potential of Sberbank of Russia in the market for attracting funds from legal entities has not yet been exhausted either. The possibility of comprehensive servicing of the country's largest enterprises with a developed regional structure throughout the Russian Federation makes it possible to secure the majority of large corporate clients in the Bank, and an extensive network of branches allows satisfying the needs for banking services for small and medium-sized businesses.
Given the above, we can also assume that Sberbank customers will benefit from targeted deposits, the payment of which will be timed to coincide with the vacation period, birthdays or other holidays.
Their terms are shorter than traditional ones, and the percentage is higher. An example of a target deposit can be the so-called New Year and Christmas deposits, i.e. during the year, the bank accepts small deposits for the New Year and Christmas celebrations, and at the end of the year, the bank issues money to depositors. At the same time, those who wish can continue to accumulate money until the next new year. However, Sberbank of Russia among the priorities of the interest rate policy determines the increase in the share of long-term deposits.
The deposit policy of Sberbank of Russia determines that the deposits offered by the bank will take into account the needs of all social and age groups of citizens - working and retired people, young people, middle-aged people and will be designed for both the low-income segments of the population and people with an average and high income.
Here, for clients with different income levels, the bank could offer fundamentally new financial services, for example, combining deposit products with credit and insurance products, develop products aimed at meeting the needs of depositors in housing, large purchases, paying for education, tourism and recreation.
With regard to attracting funds from legal entities, the Bank's policy is very rational, however, Sberbank's competitive disadvantage today is the low speed of payments in a number of regions, the backlog in the quality of customer service, and the insufficient variety of the product range. Improving the interaction between the divisions of Sberbank of Russia and the diversity of the product range will undoubtedly make it possible to attract funds from legal entities.
Creating a system of individual service involves:
Offer to the client specially developed individual schemes and technologies that ensure the development and optimization of the client's business, insurance of his risks;
Assigning personal managers with the necessary level of authority to the client, providing clients with the technological and information capabilities of the Bank, a wide range of consulting services;
Conducting a flexible tariff policy for individual service. In addition, Sberbank of Russia has unique opportunities to simultaneously promote a range of services throughout Russia at a lower cost by consolidating the costs of introducing new technologies and conducting advertising campaigns, but, as such, potential depositors do not see advertising of banking products and services of Sberbank of Russia and they don't hear. It follows that the bank should develop systematic approaches to advertising policy, which will make it an effective tool for building a client base. Each competitive advantage of the Bank, each new product offered for sale must be known and understandable to customers, easily comparable, and also advantageously different from competitors' offers. To speed up and facilitate customers in obtaining the necessary information about deposits in Sberbank, it is advisable to create a telemarketing service - advertising bank deposits by phone, which will be provided free of charge.
Telephone customer service leads individual work with customers interested in receiving more detailed information, and with customers who are not satisfied with the standard terms of service. It is not necessary to be a client of this bank. The information provided by this service should reflect the content of the type of service and the possibility of acquiring them.
In the event that the client finds it difficult to state his problems, the telemarketing service specialists will ask leading questions: what funds does he have, for how long he wants to put money on the deposit, what profit he expects, etc. And then they will recommend the deposit that is most suitable for the client's conditions. If the client decides to leave information about himself in the database of the information system, then after a while he will be sent by mail not only background information about new banking products and services, but also the forms of the necessary documents.
As a result, telemarketing will make it possible to satisfy the majority of initial calls and thus help attract new customers to Sberbank.
Thus, Sberbank of Russia, being the market leader in retail services to the population, does not fully use the opportunities for selling packages complex services all categories of citizens. Competitive advantages (its own settlement system, an extensive network of branches) are also poorly implemented in the Bank's work in the market for servicing legal entities. The lack of a strategy for working with certain groups of customers, the fragmentation of the services provided and the lack of a reasonable balance between the sale of standard types of services and individual services, the lack of flexibility in the tariff policy do not allow the effective use of existing opportunities and require an early review. The volume of services provided does not correspond to the place of the Bank in the banking system of the country and should be significantly increased.
Also, in order to improve the deposit policy, Sberbank could offer a number of deposits aimed at clients with a high level of income. For example, a deposit, the peculiarity of which would be that the client's personal data would be known only to one person in the Bank - the VIP client manager. At the same time, interest can be paid monthly, including on a plastic card issued by the Bank free of charge. Moreover, even when depositing money at the cash desk, the identity of the client is not disclosed, which means that the middle and junior staff of the Bank will not know any data about the client and the risk of disclosure of information about the deposit is negligible.
Thus, when developing a deposit policy, Sberbank should be guided by certain criteria for its optimization, among which the following can be distinguished:
The relationship of deposit, credit and other operations of the Bank to maintain its stability, reliability and financial stability;
Diversification of the Bank's resources in order to minimize risk;
Segmentation of the deposit portfolio (by clients);
Differentiated approach to different customer groups;
Competitiveness of banking products and services.
CONCLUSION
At present, the issues of attracting resources and their subsequent placement are one of the most important in banking. The efficiency of the bank and the results of its activities depend on them.
Being integral part liabilities of the bank, the attracted funds play a decisive role in relation to the assets, because passive operations determine the volume and scale of profitability of operations and allow banks to attract funds already in circulation. Awareness of this issue has created competition in the market of deposit services.
Today, the Savings Bank of the Russian Federation, attracting savings from deposits of the population and funds from legal entities, is able to offer about 20 different banking products. Moreover, these banking products are aimed at various social and age groups of citizens - working and retired people, young people and middle-aged people, and are designed for both the low-income segments of the population and people with an average and high income level. The attracted funds make up a certain basic set, without which the bank cannot exist and function normally.
And, nevertheless, 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 the goals and objectives of a commercial bank, enshrined in its Charter and from the need to maintain bank liquidity.
The only truly sustainable source of growth in Sberbank's credit resources is the organized savings of the population. The average monthly growth rate of private deposits has been stable at the level of 3.7-4% for two years now. Foundation rapid growth deposits of the population is a trend towards an increase in its real income, which is sustainable.
Deposits are an important source of resources for commercial banks. Deposit accounts can be very diverse and their classification can be based on such criteria as the sources of deposits, their purpose, degree of return, etc. Along with maintaining deposit accounts, banks also use other methods of mobilization - this is the attraction of deposits from the population. To do this, banks carry out mutual cooperation with Western credit financial resources (joint banks with foreign capital) and, on this basis, form resources for paying interest to the population on deposit operations.
For the sustainable development of the banking system, it is necessary to protect banks from the risk of early withdrawal of deposits and create an effective deposit guarantee system.
Strengthening the deposit base is very important for banks. By increasing the total volume of deposits and expanding the circle of depositors, it is possible to improve the organization of deposit operations and the system for stimulating the attraction of deposits. This can be achieved by expanding demand deposit accounts of legal entities and individuals, which will make it possible to better meet the needs of customers, improve service, and increase interest in placing funds in banks.
Thus, in 2007, the growth of deposits of individuals in aggregate terms amounted to 69%, the growth of deposits of legal entities amounted to 24%, the growth of the Bank's capital increased by more than 2 times. Deposits of individuals in absolute terms as of 01.01.2007 amounted to 2.0 trillion rubles.
All indicators indicate that Sberbank of Russia is pursuing a competent deposit policy. But the funds raised are only 20% of total amount savings of the population. Funds of corporate clients transferred to Sberbank of Russia also make up only a small part of the total amount of funds of legal entities. Thus, Sberbank of Russia can and should improve its deposit policy. An increase in the share of attracted funds in the resources of Sberbank can be achieved by applying:
Target deposits, the payment of which will be timed to the period of holidays, birthdays or other holidays;
New financial services, such as connecting a traditional deposit with a range of non-banking services - insurance, travel or purchase consumer goods with discount;
Payment of interest on placed deposits in advance in order to compensate for inflationary losses. In this case, the depositor, when placing funds for a certain period, immediately receives the income due to him;
Specially developed individual schemes and technologies that ensure the development and optimization of the client's business, insurance of his risks; assigning personal managers with the necessary level of authority to the client, providing clients with the technological and information capabilities of the bank, a wide range of consulting services; flexible tariff policy of individual service; deposit insurance system;
Promotion of a set of services throughout Russia at a lower cost by consolidating the costs of introducing new technologies and conducting advertising campaigns.
In general, it can be noted that in our country there is a tendency to increase funds on deposits intended for settlements using plastic cards, the share of banks that increase their resources by attracting funds from individuals is also growing. In general, there is an improvement in the situation in the banking sector.
Based on the conducted research, the following measures can be proposed to improve the performance of Sberbank of the Russian Federation in the field of organizing deposit operations of individuals:
Reconsider the structure of attracted funds, reducing the share of expensive resources;
Diversify the bank's resources to minimize risk;
Pay interest on deposits in advance to compensate for inflationary losses;
Develop a deposit focused on high-income clients (VIP-deposit);
Create a system of individual customer service, including a full range of banking products and services.
Raise interest rates on certain deposits, thereby increasing financial resources jar.
The above measures make it possible to increase the share of funds raised in the structure of Sberbank of Russia's resources. A detailed analysis of market conditions, an assessment of macroeconomic parameters, regular monitoring of regional markets for deposits and services, the level of demand for certain conditions for deposits - all this will make it possible to create a rational and competent deposit policy, which, in turn, will lead to an increase in the capital of Sberbank of Russia.
BIBLIOGRAPHY
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CHAPTER 1. INTEREST POLICY OF A COMMERCIAL BANK,
ITS GOALS, OBJECTIVES, NECESSITY..5
1.2. Goals, principles and objectives of the interest rate policy.16
1.3. Types of bank interest, the procedure for their calculation and payment28
1.4. Interest rate risk of a commercial bank and its management..33
CONCLUSION……..44
CHAPTER 2. MAIN DIRECTIONS OF THE INTEREST POLICY OF SBERBANK OF RUSSIA47
2.1. Analysis of the economic activity of Sberbank for
example of the Tsaritsyno OSB N 7978 of Moscow47
2.2. External factors determining the interest rate policy
Sberbank of Russia.63
2.3. Internal Factors Determining Interest Policy
Sberbank of Russia.68
2.4. The structure of interest rates of Sberbank……..72
2.5. Formation of profitability….79
CONCLUSION…….82
CHAPTER 3. SBERBANK OF RUSSIA AN ECONOMIC AND SOCIAL INSTRUMENT.85
3.1. The impact of the bank's interest rate policy on social processes
societies in times of economic crisis.85
3.2. Sustainability of the interest rate policy of Sberbank of Russia
economy stability indicator. Social process100
CONCLUSION.111
REFERENCES AND REFERENCES USED119
APPENDIX
Relevance of the topic. The main socio-economic function of commercial banks is financial intermediation, the essence of which is to transfer cash flows from entities with excess cash to entities in need of them. For the performance of this function, banks receive income in the form of interest, which allows them to develop. In turn, the effectiveness of intermediation is largely determined by the possibility of allocating resources at rates exceeding borrowing rates, which makes the formation of the interest rate policy of commercial banks relevant.
Increasing competition in the banking market, the entry of the interest margin into the normal, natural for the market framework, force commercial banks to use all modern banking developments in the field of quality management to increase the profitability of their activities. Since interest income is the main source of the bank's profit, the interest in developing and implementing an effective interest rate policy is quite understandable.
Historically, banks were the first truly market structures that arose after the fall of the command-administrative system of management. To date, commercial banks have accumulated financial strength and significant potential of the workforce - labor personnel with rich experience in managing in market conditions, able to apply the accumulated experience in banking. Russian commercial banks understand that without reliance on the real sector, it is impossible to ensure profitable activities in the long term. Therefore, banks not only lend to enterprises for investment goals but also bring the quality of management of both enterprises and investment projects up to their level.
interest policy commercial Bank
Development by each bank of its own interest rate policy, which stipulates general approaches in pricing for services provided, interest rates on loans and deposits are calculated and fixed for a certain period of time, and its implementation in practice allows the bank to have pricing guidelines for today and for some future, to coordinate other areas of banking management in terms of income and expense management , profit management, which ultimately ensures efficient operation credit institution generally.
A feature of the study carried out in the work is that it analyzes the activities of commercial banks operating today in the provision of credit services related to the payment and receipt of interest payments, examines the impact on the development and implementation of the interest rate policy of the bank of its position and the external environment, highlights the main factors that determine the percentage policy, analyzes the nature and extent of their influence in a rapidly changing and rapidly developing financial market.
Development of the problem. In scientific research on banking Until recently, due attention has not been paid to the development of theoretical and methodological foundations formation and practical implementation interest rate policy, so today there is no single approach to the disclosure of its content. Batrakova L.G., Lavrushina O.I., Rose P., Panova G.S., Serebryakova L.A., Sinki J., Simanovsky A.Yu., Stoyanova E.S., Shirinskaya E.B., Shpilevskoy E.L. and others, in other works, interest rate policy is presented mainly as an element of credit policy, and of all types of interest rates, interest for a bank loan is analyzed mainly. This situation is quite explainable by the fact that interest on a loan is the main source of interest income. Nevertheless, since the object of the interest rate policy of a commercial bank is the entire system of interest rates used in the activities of the bank, it seems that with the development of monetary relations in Russia, the need to analyze and develop all areas of interest rate policy, as well as the factors that determine it, becomes everything is more relevant.
The purpose of the work is to develop, based on the analysis of the experience of domestic banks, a scheme for making optimal decisions both in general on the interest rate policy of a commercial bank and on operations, taking into account the main resulting interest rate policy - the profitability of the bank's activities.
In accordance with the goal, the following tasks to be solved are defined:
to analyze the activities of a commercial bank in the field of conducting and implementing an interest rate policy;
characterize the need for an effective and flexible interest rate policy for the successful operation of a commercial bank;
identify and systematize the main factors that determine the interest rate policy of a commercial bank;
analyze the degree of influence of these factors on the implementation and development of the interest rate policy of a commercial bank;
propose an optimal strategy in the monetary market;
identify the main resulting interest rate policy of the bank.
The object of the study is the interest rate policy of modern commercial banks.
The subject of the study is the system economic relations related to the activities of commercial banks and their role in the modern Russian economy, and, in turn, solving the problem of developing and implementing an effective interest rate policy of a commercial bank.
Research methodology. When opening the topic, she relied on the legal documents of the Russian Federation, annual reports, statistical and analytical materials of a commercial bank. In the process of researching various aspects of the topic of the work, such methods of cognition as analysis and synthesis, groupings and selections, comparisons and other analytical methods were used.
The elements of independent work are as follows: the goals and objectives of the interest rate policy in the system of the general economic strategy of the bank are formulated, the main trends that have developed in recent years in the structure of interest rates have been identified; the main factors that determine the interest rate policy are identified and classified, the degree of influence of factors on the development and effectiveness of the interest rate policy and the change in their role depending on market changes is analyzed.
The practical significance of the work lies in the fact that the provisions obtained are converted into specific proposals for optimizing the interest rate policy and increasing its effectiveness.
1. Theoretical basis interest rate policy of a commercial bank
1.1 Essence of interest rate policy
Interest policy is a set of measures to regulate economic relations through the management of interest rates.
The interest rate policy of commercial banks is aimed at maximizing net interest income from banking operations, credit risk insurance and liquidity management of the bank's balance sheet. It includes:
goal setting;
determination of the powers of the bank's management bodies, working committees and officials, as well as the procedure for making decisions on the establishment and revision of interest rates on active and passive operations of the bank;
establishment of maximum and minimum, penalty and preferential interest rates on banking operations, principles and criteria for their differentiation;
appointment of a bank division responsible for assessing interest rate risk;
approval of the methods used by the bank to assess the interest rate risk, the nature of management reporting, the frequency of its submission;
choice of tools used to limit interest rate risk;
organization of interest rate risk monitoring.
The interest rate policy is implemented at two levels: the Bank of Russia and commercial banks. At the level of the Bank of Russia, the national interest rate policy should:
· promote economic growth;
· curb inflation;
· ensure the stability of the national currency;
· ensure a selective policy of interest rates in favor of priority industries and sectors of the national economy.
At the level of commercial banks, the interest rate policy is one of the most important elements of the general policy of the bank and is a set of measures in the field of interest rates to attract and place funds in rubles and foreign currency, and is also aimed at ensuring the profitability and liquidity of the bank.
The bank's interest rate policy is influenced by external and internal factors.
External factors include:
· state of the financial market;
· inflation rate;
· demand for banking services;
· the 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;
· qualifications and experience of personnel;
· 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.
The money market rates used in short-term lending operations between financial institutions (including state ones) are the official discount rate, the rate on short-term interbank loans).
The rates of the securities market are primarily the rates of return of various bonds at the time of their issue and subsequently in the secondary market.
Rates on bank transactions with non-bank borrowers and lenders are the rates associated with providing and raising funds to specified 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 must take 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 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.
When setting interest rates on active operations, the bank takes into account the following factors:
· the official discount rate of the Central Bank of the Russian Federation;
· market conditions;
· costs of raising funds;
· degree of project risk;
· financial condition of the borrower, degree of reliability, solvency.
The difference between the bank's interest income and expenses, between the interest received and paid, is the interest margin. The margin is intended to cover the bank's costs, risks, including inflation, to generate profits and cover contractual discounts.
The absolute value of the margin can be calculated as the difference between the total amount of interest income and expenses of the bank, as well as between the interest income from certain types of active operations and the interest expense associated with the resources used for these operations.
Sufficient margin can be calculated on the basis of actual data for the past period and forecast values for the planned periods. Calculation of the predicted sufficient margin is necessary for the formation of the contractual interest rate for the forthcoming period. The minimum required interest rate on active operations consists of sufficient margin and the real cost of resources, taking into account inflation.
It should be noted that the comparison of the actual margin ratio for individual active operations makes it possible to assess the real profitability/profitability of the bank's activities.
1.2 Forms and instruments of the interest rate policy of a commercial bank
Interest rate policy is one of the most important market instruments for conducting monetary policy. It is expressed in the establishment and periodic revision of the official base rates of the Central Bank, as well as rates on its main operations.
The official (base) rates of central banks are of two main types:
The refinancing rate (crediting to banking institutions) is the fee for the loans of the Central Bank, which it provides to commercial banks as a lender of last resort;
The rediscount rate (rediscount of securities), or discount rate, is a fee charged by the Central Bank when purchasing securities from commercial banks before they become due.
The refinancing rate is slightly higher than the discount rate (in the practice of foreign countries - by 0.5-2 percentage points), because lending operations of banks (lombard and other types of loans) are more expensive than trade commissions (purchase of securities).
Central banks can set several official discount rates depending on the term, reliability and class of securities, as well as several refinancing rates (for different types of loans), based on lending terms, type of loan collateral, etc.
By adjusting the level of the discount rate and the refinancing rate, the Central Bank affects the value money supply in the country, contributes to an increase or decrease in the demand of commercial banks for credit. With the help of the interest rate policy, the Central Bank gets the opportunity to:
· influence supply and demand in the credit market by changing the cost of loans;
· regulate the level of liquidity of commercial banks, their lending activity;
· regulate the amount of money supply in the country;
· provide credit institutions with emergency financial assistance.
An increase or decrease in official rates of the Central Bank means, respectively, a tightening or easing of monetary policy, i.e. pursuing a restrictive or expansionist policy. An increase in official rates makes it difficult for commercial banks to obtain credit resources and expand the scale of operations with clients, while lowering rates leads to the opposite process.
Interest rate policy can be carried out both directly and indirectly. Thus, the establishment of an official discount rate is an indirect method, and changing the conditions for the rediscount of bills (increasing the requirements for their quality, limiting the range of rediscounted securities, introducing rediscount limits) refers to direct methods of conducting an interest rate policy.
Similarly, the establishment of a base refinancing rate is an indirect method, while the introduction of direct restrictions for individual banks regarding the terms, amount and other conditions for granting loans is a direct (administrative) method.
In accordance with the Law "On the Central Bank of the Russian Federation (Bank of Russia)", the interest rates of the Central Bank of the Russian Federation are the minimum rates at which the Bank of Russia carries out its operations. In this case, they can be installed. one or more interest rates for various types of operations: pawnshop; deposit; REPO; overnight loans.
The interest rate policy can also be carried out without fixing the interest rate (this means that the interest rate for a particular operation of the Bank of Russia is set as a result of an auction: for a Lombard loan, REPO operations, deposit operations).
Interest rates on the operations of the Bank of Russia are determined based on the level of the base refinancing rate and the current objectives of the monetary policy.
Each state has its own interest rate policy of central banks. When it is formed, such basic instruments are used as: the base refinancing rate and rates on bank operations in the financial market.
In the process of evolution monetary system the refinancing rate began to have more indicative indicators that give the economy a certain benchmark in relation to the value of the national currency in the medium term. But, the fact remains that the refinancing rate has a great influence on the formation of the percentage level in the economy.
It is the operational instrument of the interest rate policy of central banks that are the rates on the operations of the Central Bank, (the interest rate of the Central Bank of the Russian Federation) or simply, the rates on operations. With the help of them, the bank has the ability to conduct all transactions in the financial market, refinance, and withdraw liquidity from banks. All this is aimed at forming the level of profitability of the bank in various segments of the financial market.
We can say that the actions of the Central Bank are characterized by a certain logic, the use of special principles and approaches in the conduct of interest rate policy, namely: the activities of the bank are strictly aimed at achieving specific goals, the bank has its own developed regulation strategy. It is the topic of interest rate regulation that causes the most questions, so below we will try to "shed light" on the most significant of them.
Carrying out operations in the financial market and approving interest rates on monetary policy instruments, the bank, thereby, forms a corridor of interest rate fluctuations. Moreover, it creates market expectations that affect economic development in the future, influencing the motivation of other banks, thereby subordinating their resource flows. The Central Bank's monopoly in decision-making on the creation of a resource base and placement of credit resources does not stand aside either. All this proves the enormous influence of the Central Bank as an active participant in the financial market, whose activities have a global macroeconomic effect. The interest rate policy is one of the most significant and significant instruments of the policy pursued by the Central Bank.
In the process of regulating interest rates on instruments, the actions of the Central Bank are aimed at fulfilling the following task: to ensure the formation of profitability on currency instruments(level and corridor of fluctuations). This circumstance will help to prevail in the direction of exceeding the yield on money market instruments over the yield on foreign exchange transactions. This applies to both the medium term and short time periods, taking into account the assessed exchange rate risks.
Next, a few words should be said about the levers of influence used by the Central Bank, or tools, in achieving the targets set by it. In the monetary policy of almost all countries, such an instrument is precisely the interest rate policy, which allows you to regulate the value of money through the interest rate. Thus, through the interest rate, the Central Bank of the Russian Federation influences the most important macroeconomic variables, such as: the level of savings and investment in the economy, the demand for financial assets, inflation, capital flows, etc.
Maintaining the interest rate at an optimal level allows not only maintaining and ensuring the stability of the monetary system, but also helps to develop the entire economy and achieve the targets of the Central Bank's monetary policy. These guidelines include:
· formation of profitability on operations, which, in turn, allows you to attract eviction resources and reduces the risk of an outflow of depositors' funds;
· ensuring the availability of a bank loan, again, through the formation of profitability on bank operations;
· limiting the flow of speculative capital and the formation of market profitability, due to the impossibility of providing it with the national economy and the banking system at a decent level;
· using the practice of setting rates for a medium-term period through the formation of market expectations.
· finally, the Central Bank is designed to stimulate banks to solve problems current liquidity as an emergency task.
It should be noted that it is not typical for the central bank to carry out operations in the financial market with a commercial approach, since it does not pursue the goal of generating income or limiting losses, for example, operations to receive funds in deposits. It all depends on the direction of the bank's operations, they can be both profitable and unprofitable. Although not a single bank sets itself the task of extracting profit from operations.
Priority is given to achieving the strategic goals of the bank's policy.
The currently existing interest rate policy is characterized by one important feature: interest rates on monetary policy instruments of the Central Bank are formed around the refinancing rate. This property is inherent in most countries with developed economies.
The bank is engaged in the formation of a certain corridor for fluctuations in interest rates. This means that when regulating interest rates on operations, the bank follows the only main goal: the formation of the level of rates in the credit and deposit market, which, in its opinion, will be able to ensure the attractiveness of the currency in relation to foreign currency. This will also help increase savings in the economy as a whole, providing a process of expanded production. Implemented given goal by setting the lower and upper levels of the interest rate, using the tools to support / withdraw the liquidity of the banking system. All this leads to the formation of a corridor of fluctuations in interest rates in the banking system.
The second important principle is the positiveness of rates. This applies to instruments to support liquidity in real terms. One of the strategic objectives of monetary policy at the present time is to protect and ensure the stability of the currency against foreign currencies. This task is prescribed by the Banking Code. Moreover, maintaining a positive level of return on assets is one of the necessary conditions for the monetary unit to perform such functions of money as: a medium of circulation, a store of value, and a measure of value.
All this confirms the Bank's desire not to replace the market when setting interest rates on operations, but to ensure the redirection of liquid assets within the boundaries of the financial market through market instruments. The task of the bank is to carry out all this with a minimum issue participation of the bank, on a competitive basis.
Thanks to strict adherence to the above principles, both in monetary regulation, and in the liquidity support policy and interest rate policy, an incentive is created for the entire banking system to effectively redistribute funds and form a resource base without the participation of bank resources. Moreover, it creates conditions for maintaining the stable functioning of the currency and stock market and leads to a parallel increase in state gold and foreign exchange reserves.
As a result, we single out two important factors that determine the prospects for regulating interest rates of the main central banks:
Within the boundaries of each group of liquidity support instruments, a single interest rate is maintained;
Reducing the yield spread. What is it expressed in? During the emergence of stable prerequisites for macroeconomic stabilization and a decrease in inflation rates, a decrease in the nominal value of interest rates simultaneously leads to a decrease in both the bank rate and the market rate. This, in turn, creates conditions for a decrease in the yield spread between financial market instruments, including the yield on foreign exchange assets, the yield between the refinancing rate and rates on instruments.
1.3 Legal regulation of interest rate policy
Regulation of the savings activities of the population is carried out by changing the accrued interest on deposits. They act as a serious incentive when choosing a form of storage of funds. Building a flexible and attractive interest rate policy for the depositor can ensure the maximum involvement of the population's funds in deposits.
Interest reflects the relationship between the lender and the borrower. It comes in the form of a certain interest rate.
When analyzing interest on a loan, three functions performed by it are revealed: impact on performance, impact on the size of loan investments, and ensuring the bank's income. When savings are used as credit resources, they are directed mainly to the sphere of production. Interest is charged on the loan. It acts as a payment for the use of borrowed funds. At the expense of loan interest, the interest on deposits of the population is also paid, the costs of maintaining the apparatus are reimbursed, and the profit of the credit institution that issued the loan (credit) is formed.
In the process of turnover, part of the national income will be redistributed through the credit system to pay interest to depositors. Savings of the population are formed partly due to the existing needs for accumulation. The propensity to save appears under favorable conditions and the convenience of storing funds. Part of the national income in the form of wages can be redistributed from the sphere of personal consumption to the sphere of accumulation. From this we can conclude that when stimulating the percentage of accumulation, a redistribution of a part of the national income is achieved.
The state uses interest to accumulate temporarily free funds of society. It is implemented by setting certain interest rates, which are regulated by the demand for credit resources. An increase in demand leads to an increase in the level of interest on loans. With an increase in the needs of production in borrowed funds, the interest on deposits also increases. Increasing the interest on deposits can be carried out depending on the specific economic situation. If there is a deficit in the consumer market, then it can be reduced by stimulating the accumulation of funds by the population.
In the process of stimulating with an increase in interest rates, a change in the structure of deposits is also achieved in the direction of an increase in the share of term deposits.
Thus, on the part of the state, it is possible to regulate the structure of deposits and the inflow of funds into certain investments for various purposes in accordance with the demand for credit resources.
At the same time, an important function of interest stands out - the ability to measure the value of present and future goods. Obviously, the presence of a differentiated scale of interest rates, various forms of investment of funds contributes to the development of the country's credit system. In market conditions, the depositor has a wide choice for investing funds. J.M. Keynes considered interest as "the payment for parting with liquidity." However, at a certain point in time, the value of the invested funds increases through the payment of interest. This creates the conditions for expanding consumption.
In the future, with the development of the reform of the credit system in our country, this function of interest will also increase. Inflationary processes depreciate money, so in Russia this function is presented in a deformed form. Interest helps reduce this impairment and gives the depositor a choice of preferences. However, the function of partial compensation for depreciation cannot be considered inherent in the true nature of interest. By definition, interest is a payment for the use of borrowed funds as credit resources.
Interest should contribute to the growth of the value of invested funds. In conditions of inflation, the interest compensates for the loss of funds.
Based on the experience of Western countries, we can conclude that the interest rate policy is one of the defining and at the same time fragile mechanisms in the regulation of savings activities. We can single out the following factors influencing the percentage: supply and demand for credit resources, deposit retention periods, deposit amount, inflation rates, etc. In all countries, this process is regulated by the state. In countries with market economy Banks set their own interest rates. The state conducts indirect regulation, in particular, through the discount rate, the number of restrictions on taxation of interest income. In countries of Eastern Europe the state uses the policy of regulating interest rates both for loans and for deposits based on setting a discount rate for loans provided to commercial banks. Differences in individual countries come down mainly to setting the level of the rate.
In our conditions, interest plays an insurance role. As for the stimulating function, one can hardly talk about it seriously. The procedure for establishing interest does not currently correspond to the relationship of supply and demand. Other economic factors influencing the effective interest rate policy are also not taken into account.
The percentage set by the majority of large Russian commercial banks does not encourage the population to keep money, does not take into account inflationary processes.
On the other hand, it should be borne in mind that the interest on deposits of the population is part of the interest rate policy of the state. This is due to the fact that the deposits of the population occupy a significant place in the total volume of attracted credit resources. Therefore, any change in the interest paid on the deposit will lead to a change in the cost of the loan. As mentioned above, the main factor in the formation of interest on passive operations is the state of supply and demand for credit resources. If the demand for credit increases, then there is an increase in interest on active operations. Accordingly, credit resources require replenishment, and this leads to an increase in interest on passive operations.
In the best case, the real interest rate should be divided into the actual interest, which provides an increment in the value of the invested amount, and the inflation coefficient, which ensures the preservation of the real value of investments. The growth and differentiation of incomes of the population must be taken into account.
The revealed essence of interest, its functions, factors influencing interest rates, allow us to formulate the basic principles of formation of interest rate policy.
The level of interest should depend on the state of demand for credit resources. An increase in demand should determine the increase in interest rates on active operations.
Interest rates on active operations must be greater than interest rates on passive operations. The size of interest rates should take into account the need to ensure the profitability of banking activities.
Establish benefits for certain groups of the population. This provision proceeds from the principle of social differentiation of interest on deposits.
In conditions of high inflation, interest should play a guarantee and insurance role, be a form of socio-economic protection of depositors.
All these principles should be taken into account in a set of measures for the formation of an effective interest rate policy. Unfortunately, at present there are no real economic conditions for the implementation of all the principles, but the observance of some of them becomes objectively necessary.
Inflation has a detrimental effect on the real value of savings. Investors lose part of the real value of their savings. The practice of fighting inflation is well known. In some foreign countries, contributions are tied to a cost of living index. Savings are returned to the depositor with a recalculation, which is carried out taking into account the increase in the cost of living index over the past year. It is interesting that a similar practice took place in our country in 1922-1929. Then the main task of the savings banks was to insure the wages of workers and employees against depreciation. The acceptance of deposits in the "gold calculus" was organized. The issuance was carried out by Soviet signs at the rate of the gold ruble that existed on the day of payment.
Obviously, today it is impossible to compensate for the inflationary depreciation of all deposits. Resources for short-term lending are formed to a large extent from the funds accumulated by the Banks. This will lead to an excessive increase in the cost of loans for all manufacturers. The increase in the cost of credit will affect the price of manufactured products and the wages of employees of enterprises. Ultimately, this leads to higher prices and a reduction in wage funds, which will lead to higher inflation. Therefore, certain types of deposits should be adjusted for inflation. In this case, the income on the deposit should consist of two components: the first is the payment for the funds provided, the second is compensation for the inflationary depreciation of money.
The practice of interest rate policy abroad shows that the interest on savings of the population plays an important role both for depositors and banks. With the gradual transition of the economy to market conditions, the basis of interest as the "price" of savings will acquire its original meaning. Commercial banks are faced with the task of turning interest into a means of managing the savings process and finding additional channels for attracting savings.
2. Analysis of the interest rate policy of a commercial bank (on the example of FCB "Investtorgbank" (OJSC) "Kostromskoy")
2.1 Organizational and economic characteristics of a commercial bank
Joint Stock Commercial Bank "Investtorgbank" (JSC) was established in March 1994. Investtorgbank is a universal commercial bank whose clients are enterprises and organizations of various forms of ownership representing a wide range of economic sectors.
JSCB "Investtorgbank" operates on the basis of the "Charter of the Joint Stock Commercial Bank "INVESTMENT TRADING BANK" (JSC). Company (full official) name of the Bank: Joint Stock Commercial Bank "INVESTMENT TRADING BANK" (open joint stock company). Abbreviated corporate name of the bank: JSCB " Investtorgbank (OJSC).
The Bank carries out banking operations on the basis of relevant licenses.
The governing bodies of the Bank are: General Meeting of Shareholders - the supreme governing body of the Bank; Board of Directors of the Bank. Carries out general management of the Bank's activities, with the exception of resolving issues related to the competence of the General Meeting of Shareholders of the Bank; The Chairman of the Management Board is the sole executive body. Manages the current activities of the Bank; The Board is a collegial executive body. It is formed by decision of the Board of Directors of the Bank and operates on the basis of this Charter, as well as the regulation approved by the General Meeting of Shareholders of the Bank.
The mission of JSCB "Investtorgbank" is aimed at maximum satisfaction of the financial needs of customers by providing them with a full range of high-tech banking products and services.
The basis of the Bank's business is the policy of building long-term partnerships with clients and creating a universal banking service system that meets the needs of various categories of clients - from private depositors and entrepreneurs to small businesses and large corporations.
The fundamental principles of the Bank's work are: attentive and honest attitude towards customers, timely fulfillment by the Bank of its obligations, regardless of external factors.
The Bank carries out the following banking operations:
) Attracting funds from individuals and legal entities in deposits;
The Bank pursues interest and tariff policies based on the profitability of operations and assessment of market conditions. Significant volumes of products sold and services provided reduce the cost of individual transactions and thus ensure the most competitive prices for the Bank's customers.
The main directions of the bank's activity.
attraction
The Bank determines as the main sources of raising funds:
· Savings of the population is the main and most stable investment resource.
· Due to legal entities – the most dynamically growing component of the Bank's liabilities.
· Funds raised on international financial markets are a long-term liability for expanding the financing of investment projects.
Fig.3 Structure of attracted resources as of 01.01.2000
The Bank's attraction policy will be aimed at maintaining its leading position in the retail deposit market. The savings of the population will continue to be the basis of the resource base.
Among the priorities of the interest rate policy will be an increase in the share of long-term deposits. The implementation of such an interest rate policy will allow the Bank to significantly reduce interest rate and currency risks. While optimizing the structure of deposits by terms of attraction, the Bank will take into account the risk of the possibility of unconditional early withdrawal of the deposit by the depositor, which is provided for by the Civil Code.
In order to improve the structure of attracted resources and provide competitive price conditions for investments in the real sector of the economy, the Bank sets one of the main tasks in the field of raising funds to maintain and increase its share in the corporate banking market. This will also help to reduce interest rate risk and increase the Bank's non-interest income.
The Bank will continue the practice of attracting funds from individuals and legal entities by issuing debt obligations and issuing bank certificates and intends to maintain the share of this type of resources at the level of 6-7% of the volume of funds attracted by the Bank.
The role of the leader of the Russian banking system, high liquidity and reliability indicators give the Bank a competitive advantage in the interbank market and allow the Bank to use tools to raise funds to ensure short-term liquidity, reduce the cost of financing current payments, and more efficiently use the Bank's account balances.
Borrowings of medium-term and long-term resources from commercial banks are not considered as significant sources of formation of the Bank's resource base.
Accommodation
To achieve the main strategic goals, the Bank will maintain an optimal balance between the three main areas of activity in the field of resource allocation:
· Lending to individuals is a promising segment of the resource allocation market.
Lending, project financing and investments in debt securities of legal entities - the main direction of allocation of resources that promote development national economy, support for domestic producers of goods and services.
· Investments in government securities, lending and participation in the implementation of targeted state and regional projects are the main form of support for the state's economic programs.
As part of the risk management strategy, when forming assets, the Bank will strive to maintain a sufficient level of liquidity, balance the structure of the Bank's assets and liabilities by terms and types of currencies, ensure the necessary level of diversification by regions, industries, customers and investment sizes. The development of the active operations of the Bank will be carried out taking into account the assessment of the effectiveness of various market segments.
Fig.4 Structure of allocated resources as of 01.01.2000
The main areas for optimizing the structure of highly liquid assets will be:
· minimization of cash balances on hand, funds on correspondent accounts with the Bank of Russia that do not generate income;
· Increasing the level of profitability of placing funds on accounts with correspondent banks and in interbank deposits;
· Creation of highly liquid trading portfolios of securities of first-class Russian and foreign issuers, providing yields at a level higher than money market rates; placement of funds in short-term financial instruments international financial market with fixed parameters of risk and return.
The main objective of the Bank in the field of lending is to increase the quality and high-yield loan portfolio based on the minimization and diversification of credit risks. The Bank will continue lending to all major customer groups: households, corporate customers, federal structures and executive authorities of the constituent entities of the Russian Federation, and financial institutions.
Fig.5 Structure of the loan portfolio by areas of lending as of 01.01.2000
As the economic situation in the country stabilizes and the effective demand of the population grows, it is planned to increase the share of loans to individuals in loan portfolio Bank by increasing the volume of loans and services provided. The Bank intends to increase its share in the retail lending market to 30%.
The determining factors in making decisions on lending will remain the efficiency of the borrower's business, the profitability of the financed project, as well as maintaining stable turnover on accounts with the Bank
Lending to corporate clients will be carried out in the following main areas: short-term commercial lending, investment lending and project finance.
Short-term lending to corporate clients in rubles and foreign currency for up to one year will be focused on meeting the needs of clients in working capital. As target groups for this type of lending, customers with the highest turnover of funds, which are represented light and food industries, consumer services, trade and trade-intermediary enterprises.
A trading portfolio of securities is created as an effective tool to reduce the cost of maintaining the Bank's short-term liquidity, a necessary condition for the development of client operations.
Sberbank of Russia is considering investment investments in securities as one of the main assets of the Bank, a way to effectively invest own funds and resources borrowed from customers.
Stabilization of the political situation, positive trends in the Russian economy create the basis for expanding investment in the real economy and require an acceleration in the growth rate of the resource base of Sberbank of Russia. The Bank determines as the main sources of raising funds:
Savings of the population is the main and most stable investment resource.
Funds of legal entities are the most dynamically growing component of the Bank's liabilities.
The main task of the bank in the field of attracting resources is:
Maintaining a leading position in the market for attracting citizens' savings, stimulating savings and investment activity of the population by providing the Bank's depositors with the opportunity to choose effective forms of savings that meet client requirements for liquidity, profitability and reliability, ensuring the growth and accumulation of invested funds. Preservation of priority price conditions for deposits for the least socially protected groups of the population.
Preservation and possible increase in the market share of banking services for corporate clients, formation of long-term preferences among clients in using the Bank's services.
In order to create a resource base for expanding active operations, investing in the real sector of the economy and reducing its own interest rate risks, the Bank identifies as the main priorities in the formation of the resource base: lengthening the terms of raising funds, reducing the total cost of resources, optimizing the structure of raising resources in terms of "price - term - risk of reassessment or early withdrawal”.
The consequences of socio-political and economic instability and inflationary expectations, characteristic of the post-crisis period, seriously complicate the problem of the population's choice of effective forms of savings. The high level of public confidence in the work of Sberbank of Russia, combined with the availability and familiarity of the forms of holding funds used, contribute to the gradual overcoming of the tendency to keep savings in cash. As inflation slows down, production growth accelerates, wage and pension arrears decrease, income tax rates decrease, the bank's ability to attract household funds will increase.
The bank's attraction policy will be aimed at maintaining its leading position in the retail deposit market. The savings of the population will continue to be the basis of the resource base. The Bank will offer new financial products for individuals, developed on the basis of an assessment of macroeconomic parameters, regular monitoring of regional markets for deposits and services, and the level of demand for certain conditions on deposits. The deposits offered by the Bank will take into account the needs of all social and age groups of citizens - working and retired people, young people and middle-aged people, and will be designed for both the low-income strata of the population and people with medium and high incomes.
The bank's interest rate policy on time deposits of individuals will be aimed at offering interest rates that take into account market conditions, reserve requirements of the Bank of Russia, which will ensure the growth and accumulation of invested funds for depositors. Among the priorities of the interest rate policy will be an increase in the share of long-term deposits. The desire to involve the "mattress" funds of the population in economic circulation leads to the need to increase the attractiveness and stimulate the growth of not only ruble, but also foreign currency deposits. The implementation of such an interest rate policy will allow the Bank to significantly reduce interest rate and currency risks. While optimizing the structure of deposits by terms of attraction, the Bank will take into account the risk of the possibility of unconditional, early withdrawal of the deposit by the depositor, which is provided for by the Civil Code. The Bank's many years of experience in the retail deposit market, an extensive branch network that ensures the widespread availability of the Bank's services, the prevailing stereotypes of behavior and savings motives of different groups of the population have historically determined the formation of the Bank's client base mainly due to citizens of retirement age. Considering the social mission, the Bank will maintain priority price terms for deposits for this group of clients.
The Bank considers the country's economically active population and youth as a target group of potential clients. The Bank will continue to develop and implement a set of measures aimed at attracting this group of clients for servicing and stimulating their savings activity. The bank will offer a combination of deposit products with credit and insurance products, develop products aimed at meeting the needs of depositors in housing, large purchases, paying for education, tourism and recreation. Attracting and retaining this group of clients, creating a system of long-term mutually beneficial partnership between the Bank and the client will be facilitated by the development of programs to support individual operations in the financial markets, trust management of client funds, financial consulting, brokerage and agency services, the use of advanced information technologies, including the Internet. Along with the replication of standard competitive banking products aimed at the general population, individual services and deposit products for wealthy clients will be offered.
Sberbank of Russia will expand the issuance of cards of international payment systems aimed at the middle class and wealthy clients; international debit cards and AS Sberkart microprocessor cards for transferring salaries, pensions and social benefits. Improving the level of service, the possibility of using Internet technologies and mobile telephony, the development of acquiring allows turning bank cards into a mass product and will provide a significant increase in cash flows using bank cards and balances on client card accounts. The Bank plans to increase balances on bank card accounts to 3-5% of the total attraction of funds from individuals. As a top priority, the Bank singles out work with enterprises, universities, institutions on the proposal of salary projects.
In order to improve the structure of attracted resources and provide competitive price conditions for investments in the real sector of the economy, the Bank sets one of the main tasks in the field of raising funds to maintain and increase its share in the banking market for corporate clients. It is planned to increase the share of funds attracted from corporate clients in deposits. The goal is expected to be achieved through the formation of long-term relationships and mutually beneficial cooperation with customers.
