Nabiullina called methods of dealing with risks to financial stability

In the amplification of external shocks, the Bank of Russia to cope with them and prevent, if necessary, risks to financial stability, says Elvira Nabiullina. As the Central Bank plans to do this, she told the Congress in Kazakhstan

Elvira Nabiullina

(Photo: Evgeny Reasonable / statements / TASS)

Chairman of the Russian Central Bank Elvira Nabiullina said that with the possible strengthening of external shocks, the Bank of Russia, in its opinion, will be able to locate risks to financial stability. This position it expressed at the Congress of financiers of Kazakhstan, reports “RIA Novosti”. During his speech, the head of the Russian Central Bank also said the regulator plans to deal with possible difficulties.

“We have already used these tools and sure that you will be able in a timely manner to stop the risk of financial stability in a situation the possible increase of external shocks”, — said Nabiullina.

For example, one of the tools to maintain financial stability in Russia, said the head of the Central Bank, was suspending purchases of foreign currency in terms of the budget rules.

The Ministry of Finance placed OFZ in the background data about the delay of new sanctions

The Ministry of Finance for the first time in a month placed the declared volume of Federal loan bonds (OFZ) — two issues to 10 billion rubles. location of the public debt was helped by the information that the decision about new US sanctions against Russia delayed

Photo: Ramil Sitdikov / RIA Novosti

The Ministry of Finance in the course of the auction 14 Nov placed all planned volume of debt — two issues of Federal loan bonds (OFZ) for 5 billion rubles each. The volume of demand of the first issue maturing in November 2022 amounted to 12.2 billion rubles for the issue maturing in December 2021 — 15.5 billion rubles. Weighted average yield of longer bonds (floating coupon) was 7.86% per annum, and the shorter of 8.43%. It went without a prize.

Today for the first time since 22 Oct OFZ average yield came to 8.74%, according to the index of government bonds RGBI. In the last 20 days, they, on the contrary, have grown on negative sanctions rhetoric from the United States from 8.44 to 8.89% (to 13 Nov).

The head of the IMF called on Central banks to think about the release of their digital currencies

According to Christine Lagarde, the world is changing fast and money needs to change with it. The head of the IMF is confident that Central banks can provide modern digital economy safe and comfortable with digital money

Christine Lagarde

(Photo: Andrew Harrer / Bloomberg)

What is happening in today’s world change is change and the role of money, the demand for cash is declining rapidly, and it is possible that in some 20-30 years to pay them would be virtually impossible, warns the head of the International monetary Fund (IMF) Christine Lagarde. Speaking at the FINTECH conference in Singapore, Lagarde urged Central banks of different countries already, to think about issuing its own digital currency.

“We are the world of information, where data has become the “new gold.” And this means that the money itself must change. We expect that they will be more comfortable, perhaps even, will look not so serious. We expect that they will be integrated with social networking, available online and suitable for payments between individuals, including micropayments. And, of course, we expect that all this will be cheap, safe and protected from criminals and prying eyes,” said Lagarde.

According to her, the Central banks must be ready to fill the gap arising from the withdrawal from the market of cash, because only the state can provide a digital economy is not just convenient, but also guarantees the safety of users and society as a whole money. In particular, according to Lagarde, issued by the Central banks digital currency in the digital world could be “cheap and effective” alternative to payments by large private companies, and to prevent monopolies.

The Central Bank revoked the licenses of two banks of the top 300 and top 500

The regulator has forbidden to carry out operations of the MIND Bank, which in terms of asset size is 293 th place in the Russian banking system, and regional joint-stock commercial credit institution “Moscow” (431 -)

Photo: Alexey Zotov / TASS

The Bank of Russia withdrew the license of the credit organization “MIND Bank”, held at the beginning of November by total assets 293 th place in the banking system of the country. In addition, the regulator imposed a ban on operations in terms of regional joint-stock commercial Bank “Moscow”, which, according to statements of 431 took place in Russia.

Explaining his decision regarding the MIND-Bank, the regulator indicated that the credit organization took unfair the decision, namely the conduct of the transaction for the withdrawal of liquid assets to the detriment of the interests of creditors and depositors. Information about these operations, the Central Bank promised to send to law enforcement agencies, since they have signs of violations of the Criminal code.

In addition, the Bank:

Why the Central Bank intends to withdraw the savings Bank from-under restrictions on the mortgage

The Central Bank will ease restrictions on issuing mortgages with a down payment of 20% for banks, evaluating credit risk based on internal ratings. For a benefit claim savings, it will allow him unlike competitors not to raise rates

Photo: albert Garnelis / TASS

Central Bank develops a normative act, relevant to the particular application of the limits on mortgages with low initial payment (less than 20% of the loan amount) for banks that use the approach to calculation of credit risk based on internal ratings (ISD), told RBC in the press service of the regulator.

Its necessity stems from the fact that in the internal rating models of banks risks inherent in the allowances of the regulator may be partially taken into account, noted in the TSB. The only Russian Bank, which the Central Bank a year ago was allowed to go to PVR, Sberbank.

Indulgence for sensitive borrowers

S&P experts predicted the saturation of the market of retail loans

The growth of retail lending in 2019 will slow down due to saturation of demand and increasing rates, analysts predict S&P. But banks will still be more profitable to lend to people: on the corporate market in particular there are no prospects

Photo: Alexander Artemenkov / TASS

The retail lending market in Russia, demonstrated in the last two years, significant growth is nearing the saturation point, analysts of rating Agency S&P. Although the volume of issuance of mortgage and consumer credits in 2019 will continue to grow, the rate of growth will gradually slow down to 15-18%, said the study S&P Global Ratings. By the end of 2018 retail lending will grow by 20-22%.

To limit the growth of volumes of crediting of the population, according to S&P will contribute to the following factors:

  • gradual saturation of the demand for loans from consumers;
  • the weak dynamics of growth of disposable income;
  • adopted by Central Bank measures to curb growth of consumer lending;
  • the absence of factors that could lead to the rapid decline in interest rates.

The situation has changed

Gref said the idea of unclaimed deposits by the invention of the Bicycle

According to the head of Sberbank, the issue of unclaimed deposits already regulated by law. Earlier in the state Duma suggested to transfer unclaimed deposits from banks to the Russian budget

German Gref

(Photo: Denis Tyrin / TASS)

The head of Sberbank German Gref commented on the proposal to transfer to the Russian budget unclaimed deposits from banks. The idea before was expressed by the head of the Duma Committee on financial market Anatoly Aksakov.

Gref noted that there are already existing rules of law regarding what happens to unclaimed property. The head of Sberbank reminded that these issues are regulated by the Civil code. “I’m afraid that it would not reinvent the Bicycle just <…> Is the concept of “ownerless” property — a certain number of years the property must be without the owners, the law determines its subsequent track”, — quotes the words of Gref “RIA Novosti”. “I don’t think I need something new to invent, had it all my life”, he added.

The notion of “ownerless objects” set out in article 225 of the Civil code. According to law ownerless is the thing that “has no owner or whose owner is unknown”. If the owner of the thing cannot be found in the course of the year, it can take in property of the municipal authorities, where it is found or object is located, as stated in the law. For the registration of ownership, should the court decision.

Gref announced the change of the curator of the retail business of Sberbank

The head of Sberbank said that the Chairman of the Board Alexander Torbakhov decided to leave the company. The new curator of the block “Retail business” will be Svetlana Kirsanova

Svetlana Kirsanova

(Photo: Mikhail Voskresensky / RIA Novosti)

The Deputy Chairman of Sberbank Alexander Torbakhov will leave the credit organization, which oversees the block “Retail business”, said the head of the Bank Herman Gref. According to him, the successor Torbakhov will be Svetlana Kirsanova, currently holds in the savings Bank as Director of the division of “Acquiring and credit cards”.

“Svetlana Kirsanova was approved today as the head of retail banking and Deputy Chairman of the Board. As the Deputy Chairman of the management Board she will be able to take office December 1 following approval of her appointment by the Central Bank,” said Gref.

Speaking about the reasons for leaving Torbahov, Gref said that he decided to change occupation, as was the position of curator for the retail business of the savings Bank for eight years. “You cannot work, perhaps all life on one place,” he added.

Company Giner out of the three leaders in the market of life insurance

Insurance company “Kapital life” lost in the quarter two position in the ranking of life insurers by premium collection and has been outside the top three. The main reason is the loss of sales channels due to a conflict with the “FC Opening”

Evgeny Giner

(Photo: Alexander vilf / RIA Novosti)

The insurance company Yevgeny Giner, changed in September 2018 with the “RGS-Life” to “Capital life”, for the first nine months of this year have left the three market leaders in life insurance, dropping to fifth place in the premium collection, from the preliminary data of the Russian Union of insurers (VSS) that was read by RBC.

Previous year “RGS-Life” finished as the second-largest company on the market following the “daughter” of Sberbank, “Sberbank life Insurance”, but in the first quarter began to lose position — its sales fell, while other players grew at a double-digit pace. Soon the company Giner missed a forward party of another financial group “Alfa insurance-Life”. For the first half of the company Giner managed to retain third position, but for the third quarter overtook her “Renaissance life” and “VTB life Insurance”.

Charges of “Capital life” for the first nine months amounted to 22.6 billion rubles, while during the same period last year they were almost two times higher — 42 billion rubles., the Rate of decline awards “Capital life” increase from quarter to quarter in the first quarter, the decrease was 17.1% in the first half — 40% for three quarters — almost 54%.

The Malaysian Prime Minister has accused Goldman Sachs of fraud

Yesterday in Kuala Lumpur announced plans to achieve full compensation payments to the American Bank for the organization of transactions with state Fund 1MDB. “Obviously, we were deceived,” — said the Prime Minister

Mohamad Mahathir

(Photo: Yam G-Jun / AP)

After the deals the state investment Fund 1 Malaysia Development Berhad (1MDB) with Goldman Sachs Group Inc. Malaysia was “deceived” by American bankers, said in an interview with CNBC News Prime Minister Mahathir Mohamad.

American investment Bank is under scrutiny from Supervisory authorities due to the possible role of facilitating the embezzlement of funds through 1MDB. Associated with this organization in the case of alleged money laundering and bribery is being investigated in at least six countries, including Singapore, Switzerland and the United States.

Earlier in November, the U.S. Department of justice filed criminal charges on the production of two former bankers at Goldman Sachs. One of them, Tim Leissner, pleaded guilty to conspiracy to commit money laundering and violations of us law on corruption abroad.