June 19, 2016, 23:00 / Finance

The DIA has figured out how to raise 10–12 billion rubles for the fund

The agency proposes to again increase the contribution rate for more than 100 banks Anna Eremina Daria Borisyak The DIA figured out how to collect another 10–12 billion rubles for the deposit insurance system fund. The agency proposes to increase the differentiated deduction rate for banks / E. Razumny / Vedomosti

Now a few banks are raising deposit rates by more than 3 percentage points, says BCS analyst Olga Naydenova. If a bank has something wrong with its risk profile and pays an increased rate, then for the DIA this is an opportunity to at least somehow compensate for losses in the event of the bank’s license being revoked, she points out.

The Deposit Insurance Agency (DIA) continues to increase contribution rates to the Deposit Insurance Fund (DIF). This time, the DIA may raise the increased additional contribution rate to the maximum level provided for by law, as follows from the speech of the agency’s general director, Yuri Isaev. According to him, the board of directors will be asked to raise this rate to 500% above the base rate. The DIA press service reported that the increase in contributions to the Fund due to the increase in the increased additional rate is estimated at approximately 10–12 billion rubles. in year.

The base rate at which banks pay to the Deposit Fund is 0.1%, and from the third quarter it will increase to 0.12% - this decision was made by the DIA board of directors in April. The calculation base for calculating insurance premiums is determined as the average chronological daily balances of deposits that are subject to insurance.

How much to pay investors

11.2% per annum - this is the basic level of return on deposits for a period of one year or more as of June, calculated by the Central Bank

For banks that raise interest rates on deposits, the DIA has provided an additional rate (exceeding the basic level of return on deposits by 2–3 percentage points) and an increased additional rate (by more than 3 percentage points). Now the additional contribution rate is 20% of the basic one, the increased additional contribution is 150% of the basic one. From the second quarter of 2016, the additional contribution rate will increase to 50% of the base rate, the increased additional rate will be set at 200%.

Since the beginning of the year, an increased additional rate has been paid by banks also depending on the indicators of the banks’ financial stability, including the presence of regulations. As of June 10, only 14 banks paid contributions at the additional rate, and 108 at the increased additional rate, it follows from the DIA data.

The rate of contributions to the deposit insurance fund may increase, the DIA warned

The agency’s most pessimistic forecast is an increase in the rate to the maximum level of 0.15%

Increasing the increased additional rate to 500% of the base rate is also a preventive measure so that banks do not inflate deposit rates, Naydenova continues: in this case, another 2 percentage points per year will be added to the cost of already expensive deposits, which will account for contributions to the fund.

An increase in banks' contributions to the Fund is necessary for the agency to pay off loans to the Central Bank, which it provides to the DIA to pay depositors affected by the revocation of licenses. Isaev said that by Friday more than 1 trillion rubles had been paid from the DFS, and now the DIA owes the Central Bank 358 billion rubles. He warned that the debt could double by the end of the year.

“We fully agree that the approach to calculating contributions to the Fund should be differentiated and banks with an unstable financial situation should pay more,” says Ashot Simonyan, vice president of VTB 24. As a result, this may also affect the reduction of deposit rates, he continues, since for banks that pay increased contributions to the Fund, the load increases, their funding costs increase, and such banks are forced to make adjustments to their policies: from reducing rates to stopping attracting deposits.