Average maximum rate on ruble deposits in banks at the end of may fell to the lowest level in history and, according to experts, will continue to fall. The reason is the reduction of the key rate of the Central Bank, allowing banks to borrow cheaply from him, and a low credit activity of citizens and companies. However, the global outflow of funds from deposits in the market do not wait for the conservative customers.In the last decade of may the average maximum rate on ruble deposits of top 10 banks in this market, which expects Central Bank, has set an absolute record — 5,039%. The decline was also the largest since July 2015 — 0.36 percentage points compared with the second decade of may.Managing Director Absolut Bank Anton Pavlov is confident that rates will decline further: “In the short term, rates could fall another 0.5 percent”. “The dynamics of rates on deposits of the population is determined, on the one hand, the yield of risk-free assets, which the banks can temporarily place the attracted deposits the funds, on the other hand, the cost of raising funds from alternative sources,”— says senior economist of analytical Department of Bank “Opening” Maxim petronevich. However, he notes that the yield on risk-free asset (annual Federal loan bonds) fell from the beginning of may from 5.1% to 4.6%. With regard to alternative sources of funding, in late may, the Central Bank launched the refinancing instrument for a period of one month, under which banks will be able to raise resources at a cost in the size of the key rate (5.5 percent), plus 10 basis points.Maxim petronevich considers that in such a scenario, the interest rate on deposits may in June to reach 4.5–4.7 percent.Senior loan officer Moody’s Olga Ulyanova adds that the rates on deposits depend on banks ‘ needs for additional funding. “Today, this need is fully satisfied: the ratio of loans to deposits is about 90%,” she said. On the other hand, according to managing Director of a rating Agency NKR Stanislav Volkov, informed during the crisis strong pressure on the ruble rate provided the conversion of deposits into foreign currency. “This time the effect was less pronounced due to the low interest rates on deposits in foreign currency and low inflation in the Russian Federation”,— he said.However, according to Executive Director of “Renaissance Credit” Yana’s armless, this behavior is more likely to be characterized by a young population: “someone to try themselves in this field and to play” someone hopes to gain high income — this audience is willing to go to significant risk. In Gazprombank have noticed a high demand among clients for savings accounts. Savings account as a kind of alternative to deposits noted in the Bank.Thus, according to Gendirector, Frank RG Yuri Gribanov, do not expect the global outflow of funds from deposits even at further lower rates. “The habit of keeping money on Deposit is very large, and they have a number of positive characteristics, despite the low rates,” he explains. In addition, in the current turbulence is a huge reservoir of conservative and inert investors who not only seek to become investors, but not even willing to change your traditional Bank to another, says Olga Ulyanova.Maxim Builov, Svetlana Samuseva
