The Russian Banking Association (ADB) supported the proposal of the Governor of the Central Bank of the Russian Federation Elvira Nabiullina to increase the amount of insurance compensation for long-term deposits. ADB Deputy Chairman Alexey Voylukov told socialbites.ca about this.
According to him, ADB gave unconditional support to such a proposal.
“I will say more, we believe that this is our initiative and has been around for many years. like [поддерживаем] A proposal to adjust or abolish taxation on such deposits,” Voylukov said.
According to him, the increase in long-term deposit insurance will gradually increase Russians’ demand for them as banks adjust their product range and the predictability of the situation in the economy increases.
“But banks need to have such a tool in their product range. There is no need to expect such investments to increase when a new vehicle emerges. It’s time to move from talk to action. And I think the Bank of Russia is moving correctly in this direction. As for the compensation limit, in my opinion, the guideline should not be lower than 1.4 million rubles,” emphasized the ADB deputy chairman.
Most likely, one should start from the cost that a person is willing to save for a long time. For example, for a small apartment it is up to 6 million rubles, and perhaps even more, taking into account prices in large cities, he added. According to Voylukov, the amount of the repayment limit on long-term deposits should be negotiated according to the statistics of banks and the Deposit Insurance Institution (DİA), and the new vehicle should be made attractive for customers.
Commenting on the stability of the deposit insurance fund, Voylukov noted that this year the situation is significantly different from the previous one.
“Thanks to the efforts of banks and the Central Bank of Russia, our financial system has become stronger and got rid of weak players. “The Deposit Insurance Corporation has paid in full the loans that the Central Bank of Russia had previously provided to it to fulfill its obligations to depositors, and this despite the fact that the benefits for contributions are still in force,” the banker explained.
Nabiullina last week suggested Increasing the amount of insurance compensation for long-term deposits to make such investments more attractive to Russians. Long-term deposits are considered deposits with a maturity of one year or more. Now, when a bank’s license is revoked, the depositor receives the entire deposit, but not exceeding 1.4 million rubles.
Previously “socialbites.ca” reported Increasing deposit interest rates in Russia.
Source: Gazeta
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