The Ministry of Finance is considering the withdrawal of deposits of individuals in volume from 100 million rubles. on the recapitalization of troubled banks. This was announced on Friday, Deputy Finance Minister Alexey Moiseev.
«Gazeta.ru” Moses explained that this mechanism will be applied only in the case, “where the bank has already fallen”, that is, the central bank had its license revoked and you must choose one of four options for treatments.
This bankruptcy, reorganization, transfer of assets to another bank, and, as an option, the mechanism bail-in (saving banks at the expense of depositors). In fact, we are talking about the forced conversion of the claims of creditors of the third stage in subordinated loans, or the authorized capital of the bank to improve the bank’s position in terms of capital.
«Bankruptcy – is when everything is stolen and save nothing. The office chairs were left alone, and the office is rented, “- popularly explains the official. Sanitation – when the bank broke the law, but there is still that save, the bank has assets which can be assigned to work in the following bank-sanatorium. So it was with “trust” and “Uralsib”, for example.
The third option – the interim between the first two.
“And now the Ministry of Finance is ready to offer the fourth option. It is suitable for those cases where the bank is quite a worker, he has a regular income, but his position is unstable. And there are major investors and lenders, “- says Moses.
Then it would be possible to launch the mechanism of bail-in. “In this case, a major contributor, physical person, or a major lender could make a choice. Pick a guaranteed contribution of 1.4 million rubles. and then if there have troubled bank assets and carrying out tender procedures to get some of their money, “- says Moses.
Or, in the capital of the bank and get your money back at least a few years when the bank again gets on his feet.
Moses said that this mechanism has already been used twice. However, on a voluntary basis. When rehabilitation of the bank “Tauride” and FUNDSERVICEBANK.
When asked “Gazety.Ru” it is time to run to the bank and withdraw last rubles, as the threshold of 100 million rubles. can easily be reduced to any other sums and bail-in can touch even the average investor, Moses said that he was misunderstood. An amount of 100 million rubles. – Conditional. It is being discussed. This may be about 1 billion rubles., And several tens of millions. That is, in any case, on the owners of significant amounts.
Mosaic also he said that the Finance Ministry does not carry out the calculation, but in the Russian depositors having one account 100 million rubles. With the absence of such data and related inability to determine the cutoff.
The statement was made by Moses on the background of the Central Bank on Friday an interim administration in the bank “Interkommerts.” In 2008, Russia had about 1,100 banks. Now – less than 800.
«The government is trying to reduce budget spending, is looking for additional tools in an unfavorable external environment and the risk of deterioration of the macroeconomic situation. These issues are still to be discussed in the expert community, “- said in a conversation with” Gazetoy.Ru “chief economist at the Eurasian Development Bank Yaroslav Lissovolik.
As the analyst BCS Safarbakova Julia,” apparently is trying to get the Ministry of Finance responsible persons connected with small banks, which are usually held in these banks major contributions. ” The adoption of such a measure could reduce the amount of high-risk transactions and in general to normalize the situation in the banking system in terms of the existence of banks that are engaged in highly risky operations, believes Lissovolik.
the likely consequences in case the approval of such an initiative may be split large deposits and flow of funds in the large state-owned banks.
«It is possible that large investors will start after the establishment of the threshold to split their savings – said Safarbakova. – Considering that we are talking about the high ceiling of a massive effect on private contributions will not, but the redistribution of large VIP-deposits in favor of large state-owned banks can expect ».
For the first time on the new mechanism of recovery of the Ministry of Finance and the Central Bank said in December last year. Then it was reported that in one or two months finalize the amendments to the legislation to allow use in bank resolution funds their creditors. According to Moses, the whole mechanism worked out, but it lacks criteria: what kind of creditors in the course of this reorganization will receive shares instead of cash. According to the head of the Central Bank, Elvira Nabiullina, the system bail-in «by participating lenders will not withdraw the license and keep the pot with the prospect of growth of solvency” (quoted by “Interfax»).
In the Russian legal framework is not clear determination of bail-in (saving banks at the expense of depositors). “Except for the use of schemes that correspond to the very general concept of bail-in, in 2013 as a result of the banking crisis in Cyprus, unprecedented use of such extreme measures are practically no”, – said Vasily Itskov, Head of Dispute Resolution “Horizon Capital”.
The financial crisis in Cyprus, which broke out in 2013, led the bank system of the country to the pre-default state. Offshore Republic, known at that time as a “safe haven” for the Russian capital, has been unable to agree on the milder conditions of EU aid. In exchange for a loan of € 10 billion large depositors and creditors Bank of Cyprus began its shareholders in exchange for their deposits. Total power exchanged 47.5% of the deposits of more than € 100 thousand. Euros for the bank’s shares. The amount of seizures amounted to about € 4 billion. Coordination improvement measures with creditors led to a great panic among the Cypriots. The government introduced restrictive measures on the movement of capital. Head of the Cypriot Ministry of Foreign Affairs then called the whole situation “brutal destruction of the economic model of Cyprus».
The situation in Cyprus has become the exception rather the norm in the world remains to recapitalize the banking sector, public money – bail-out. Thus, the United States acted to save the banks during the crisis of 2008-2009, so did the EU and Russia. In Russia function of financial rehabilitation of troubled banks and the deposit insurance law assigned to a specially created for this purpose Institute – Deposit Insurance Agency. DIA has spent 71 billion rubles. in the crisis of 2008.
Since the beginning of the application of the mechanism of recovery of the failed banks, that is, from the end of 2008 to July 2015 the DIA and the Central Bank it has spent 822 billion rubles.
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