The Central Bank has lowered the rate of refinancing to 12, 5 percent
Yesterday for the first time from the beginning of crisis the Central Bank has flown lower refinancing rates. It became less for 0,5 percent and makes now 12,5 percent.
If this direction will remain, the credits which are given out by the Russian banks, become cheaper, chairman of the board VTB Andrey Kostin hopes. Actually, for the sake of it also it is spent “ rate reduction “ the first deputy of the chairman of Bank of Russia Alexey Uljukaev has let know. We will notice that rates and on all spectrum of tools which uses the Central Bank for crediting of commercial banks have decreased. They are established in a range from 9,5 to 12,5 percent.
“ Those banks at which the share of means of the Central bank in passives is great, and are big banks at which it reaches 30 percent, can at once, almost automatically relay decrease in the rate of the Central Bank “ - transfers words of Uljukaeva Interfax - AFI. However Uljukaev has noticed that in balances of banks “ deposits of the population and the companies five times more than money of Bank of Russia “. And at what the share of resources of the Central Bank is insignificant, should make simultaneously two things. In - the first to lower rates under deposits, which, according to Uljukaeva, “ too high “ and under credits. “ for acceptance of this decision it is required to them hardly to more time, - the first vice-president has noticed. - but, without conditional, I consider that it is decisions of close time “.
While, however, rate decrease very small, but the trend is important, head VTB Andrey Kostin has explained to journalists. But in conditions when the majority of banks are actually deprived other source of attraction of means, except money of the Central Bank, such signal for certain will be heard by them.
we Will notice that industrialists for a long time complained about the high rate of refinancing of the Central Bank, after all it oposredovanno influences the price of bank credits. And when the majority of the countries of the world in the conditions of crisis promptly reduced the interest rate to open to economy access to cheap money, the Russian Central Bank held it at rather high level.
It as representatives of Bank of Russia time and again explained, has been caused by high rates of inflation in our country. But now inflation has slowed down the run, the rouble exchange rate is steady enough, and there is a possibility for rate decrease, Kostin believes.
Kostin, however, did not begin to build yesterday forecasts concerning how much the rate in the foreseeable future still can be lowered. But has thus paid attention and to other problems. Banks receive means of the Central Bank for short term - from three about six months, and give out credits for one - two years. And consequently bankers all the same bear certain risks. Meanwhile it is literally one of these days at session of the government to bankers the demand has been made: cost of credits should be no more rates of refinancing plus of 3 percent. However, as Kostin has specified, it concerns only the credits which are given out by banks at the expense of means of state support. And in that case the similar requirement is fair. And in all other situations of the rate will pay off for each client individually - depending on degree of its reliability. Even now, Kostin has explained, there are clients who have received at VTB money under 14 annual interest rates, and there are also such borrowers whom credits stand out under 20 - 22 percent.
One more problem which has been not removed from the agenda, - high level of uncertainty with a situation in economy and with position of borrowers. By estimates of the head of the Ministry of Finance Alexey Kudrin, rates of increase of delay under bank credits grow monthly for 14 percent. There are different forecasts concerning what can be level of the delayed debts in a credit portfolio of banks on the end of the year - from 10 to 20 percent. But all will depend on how the economy flywheel as the prices for oil will lead begins to be shaken, Kostin has explained. This year VTB puts in the plans formation of reserves under depreciation of actives at level of 8 percent. Last year, Kostin has reminded, from - for high risks on the delayed debts on formation of reserves at bank has left 2,5 billion dollars, and more than 1 billion - in the fourth quarter.
Nevertheless the difficult situation in economy does not mean that crediting should be turned off, Kostin speaks. Banks should to learn operate in new conditions, more religiously to approach to an estimation of reliability of borrowers, it has explained. This year VTB expects to increase the credit portfolio for 10 percent. And it is average figure, it concerns works VTB not only in Russia, but also in other countries. Crediting by bank of economy and citizens will grow in our country faster rates, Kostin promised. In many respects to provide these plans bank hopes at the expense of additional issue of actions on 180 billion roubles. It, Kostin has explained, there will be a release of ordinary actions on an open subscription. Cost dopemissii will be defined on the supervisory board in May, it plan to finish not later than October. As to attraction of money in a foreign market while the window of such possibilities is closed. Besides the bank is not ready to occupy them under any percent because high loading will be not not sustained by its clients. Does not go while speech and about reception new subordinirovannogo the credit, Kostin has informed.
we Will remind that last year VTB has received it at a rate of 200 billion roubles. Since September on the end of December the bank has given to the population and the enterprises of loans on 27 billion dollars.
the Fund of insurance of contributions in 2009 will not have problems with liquidity, the agency head on insurance of contributions Alexander Turbanov has informed yesterday.
Now it makes 80,6 billion roubles. “ it will suffice to pay off in all insured events “ - head ASV considers. The mechanism of transactions REPO, crediting by banks each other on the security of securities Besides, can be in case of need used. “ but probability of it the lowest. The agency does not have bases to address for support in the government “ - Turbanov has told.
By its calculations, this year under sanitation procedure can get no more than 20 banks. But it does not mean that the others will not have problems. By the end of the year the bank system can face the big delays under credits. While “ a shortage “ according to Turbanova, remains at comprehensible level - around 3 percent. However it has increased in 1,5 times in comparison with the end of last year. If will proceed in such rate by the end of the year the bank system leaves on delay in 10 - 15 percent, head ASV has assumed. In a rouble equivalent such share of delay will correspond 2,5 trillion roubles. At such indicators banks simply “ proedjat “ the capital. “ the mechanism which could cope with this complication " should be created; - Turbanov is assured. The mechanism of the repayment of the problem credits, which variants well-known in world practice should become that, in its opinion, are approved and have shown the efficiency. But with the initiative under the repayment of such actives the state corporation will not act. However ASV undertakes it if to it will give such commission.
Tatyana ShadrinHas prepared