AS SAFE AS IN A BANK

The State guarantees deposits
The Decree of the President № 22 is a document, in compliance with which the state guarantees complete safety of deposits to the citizens in any currency and in all Belarusian banks. Alongside with the Decree, the Order № 601 was signed, which annuls the necessity to declare the sources of funds brought to the bank. It is necessary to underline the importance of accepted measures. Deposit guarantees are unprecedented — full amounts in each bank. Earned revenue is not taxable. It can be seen that there are very attractive conditions for the savings’ growth in the country. Certainly, the Decree opens the ways for attraction of the capital to economy. One more thing is important. If the state undertakes such obligations, it is sure of their implementation.

Simultaneously, financial institutions have to possess potential possibilities of responsibility to depositors.

This is why the rates of deposit programs grow like a weed. Some financial institutions offer 18 per cent per annum to the citizens. However, in such a large-scale race a problem of additional reimbursement undertaking arises. Until quite recently, the state promised to reimburse deposits in case of force-majeure only in the system forming banks. But after the New Year the state guarantees will extend to the whole deposit market.

It was reported in the National Bank that from January 1, 2009 a minimum regulatory capital size for Belarusian banks, working with the deposits of natural persons, would increase to the amount equivalent to 25 million Euro. This point increased by 2.5 times at once. According to Sergey Dubkov, the head of the main department of the banking supervision of the National Bank, such a decision was accepted for the purpose of increasing the safe-conduct of the population money saving in all the banks irrespective of amounts, terms and currency of deposits, and establishing the additional safety factor of the banks. “Capital expansion will assist to the increase of international acknowledgment of the national banks, business reputation and improvement of retail services, rendered by them. This, in its turn, will increase the level of confidence of the population to the financial system,” the specialist noted.

At the present moment 21 of 30 banks, registered in Belarus, have the right to attract the population savings. Besides, household deposits increased by 25 per cent and amounted to more than 6.5 billion US Dollars in Belarusian banks from the beginning of this year, 2.1 billion US Dollars from the total amount are in the foreign currency. According to Sergey Dubkov, the main part of such resources is concentrated in big banks, possessing their own big capital. However, seven Belarusian banks, attracting household deposits, haven’t yet reached a plank of 25 million Euro. If they don’t build -up “physique” by the New Year, they can be deprived of the possibility to work with the newly attracted population savings. It is true that this will happen until January 1, 2010. Until this moment, the possibility to work with the population savings will be limited by the actual size of the regulatory capital of these banks.

To “unlucky” financial institutions were added “Trastbank”, “BNB-bank”, “RRB-bank”, “Tekhnobank”, “Home Credit bank”, “Mezhtorgbank” and “BTA Bank”. The last three banks, by all appearances, will be able to solve problems operationally. They belong to the biggest foreign financial groups, and the founders will probably carry out substantial financial inflows to their subsidiaries. For example, “BTA Bank” has practically solved these problems. The biggest bank of Kazakhstan JSC “BTA Bank” increased the share of its participation in the authorized fund of the Belarusian subsidiary from 48.94 per cent to 99.29 per cent by way of the acquisition of shares, which earlier belonged to other bank shareholders. Now a solid financial tranche is expected.

It is stated in the National Bank: in connection with the increase of requirements to the capital size, it is planned to make a method of its calculation more severe, having approximated it to the international requirements to maximum.
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