El notes

Since early March prices rose by 0.2 per cent compared with 0.4 per cent over the same period last year and 1,3 per cent in total for March 2009, according to Rosstat.

From the beginning of the year Rosstat recorded inflation of 2.7 per cent (4.5 per cent a year earlier).

Analysts Bank Trust felt that at present, yoy inflation is only 7.0 per cent, which is the absolute minimum in the modern history of Russia.

During the first two months of 2010 consumer prices in Russia grew by 2.5 per cent, significantly less than last year’s level, when inflation in January – February reached 4.2 percent.

As in February, the main influence on the rate of inflation is now providing food prices. According to the Federal State Statistics Service, over the past week have risen in price eggs – by 2,3 percent, buckwheat, cheese, milk drink – by 0,6-1,6 percent.

increase in prices for fruits and vegetables averaged 1.1 per cent. This onions grown by 3.2 per cent, carrots and cabbage – by 2,8 percent and 2,1 percent respectively.

cheaper margarine, sugar, chickens – at 0, 1-0,3 percent.

prices for gasoline rose by 0.1 per cent for diesel fuel – have not changed.

minus 25 B . VP

At the end of the month will again show inflation at record low level – 0,7-0,8 per cent, analysts expect the trust, which will update a minimum rate of inflation in annual terms, and this , in turn, will give CB a serious argument for lower rates.

Member of the Board of Directors of Central Bank Sergey Shvetsov said on Thursday that the central bank will consider the bids in the second half of March.

“Apparently, the Bank will wait for release of data on the state of the real economy, to be published next week. At the same time it becomes clear how rapidly rising prices in the second week of March – analysts believe the trust.

“In this case, we expect that macrodata will not be good enough to convince the Central Bank to abandon cuts. If we add to the strengthening of the ruble, then the probability of cuts we see as very high” — write analysts.

At the same time, the Central Bank will remain cautious, and lower rates may be only 0.25 percentage points.

Reuters poll of analysts expected that the end of March refinancing rate can be reduced by another 25 basis points from the current 8.50 per cent, and by the end of the second quarter – by another 50 basis points.

Central Bank reduced the rate of 10 once in 2009, but then took a pause. In 2010, the Bank of Russia has lowered key interest rates only once. From 24 February they fell by 25 basis points, disappointing analysts who had expected more decisive steps by the Central Bank.

Among the financial institutions who were denied Federal Financial Markets Service:

“NOTA-Bank” (Open Joint Stock Company) (Moscow);
Commercial Bank “Russian Elite Bank (Limited Liability Company) (Moscow);
Joint Stock Commercial Bank “Russian-Deutsch Trade Bank SA” (Closed Joint-Stock Company) (Moscow);
Commercial Bank “Modern standards Business “(Limited Liability Company) (Moscow);
COMMERCIAL BANK UNIASTRUM BANK (LIMITED LIABILITY COMPANY) (Moscow);
Open Joint Stock Company Commercial Bank Social Primorje PRIMSOTSBANK” (Vladivostok).

chief editor of “Industrialist of Russia Andrei Sorokin told Bankir.Ru gave his assessment of the RSPP. In his view, the definition of “trade union of oligarchs,” or “Department of Business” have little in common with reality. RSPP today is development of the organization, is an expert area, institution, representing Russia’s business in dialogue with other social institutions – social, powerful, and others. The fact that the chairman of the banking association Alexander Murychev is one of the first persons of RSPP, shows the understanding of the role of finance in the medium industrialists.

A. Sorokin believes that the crisis exposed a number of systemic problems that require discussion and analysis of options for further development – RSPP communicates. Time is now such that the task of modernizing the economy, which many argue, in fact, it’s time no longer obmusolivat and decide. Deciding not alone but in co-operation of government, business, society. This problem, which is now placed not only “from above” – from the authorities, but also “from below” – from the business. And this is natural. Business forced to think about it – business to live here, work here, business, business to create this surplus value, in the end ».

NOMOS-Bank’s analysts suggest that in the coming days, the Bank is unlikely to “go against the flow” and I was elected to model the behavior and, gradually yielding to the pressure the players will not prevent the weakening of the day shopping in the 5-15 cop.

Bank Operations in the foreign exchange market lead to an influx of ruble liquidity in the banking system. Balances of credit institutions in the accounts of the Bank of Russia increased by $103.4 billion, reaching 1.2034 trillion rubles. consequently, rates on the interbank market and currency swap transactions vary in the 2-3,5%.

improve conditions for mortgage banks have started in the middle of last year. A year ago, the ruble rate mortgages stood at 17-25% per annum in the primary market and 15-23% per annum on the secondary, in late 2009, many banks issued loans to housing under construction at 16-21% annually, and at the ready — by 14-19% per annum. Number of credits issued each month in November – December 2009, according to Central Bank, increased to 15 000-20 000 in 4000-6000 against the beginning of the year. Results for 2009 were granted 128 000 mortgage loans, but it is 2,6 times less than in 2008 on the recognition of credit brokers, borrowers while avoiding long-term loans, fearing the decline in revenues.

Meanwhile, in the past year, banks have managed to accumulate a lot of money and now they have to boost lending. Now they can afford to give mortgages to lower than last year, rates, said deputy president of the “Absolut Bank” Emil Yusupov. By March, many banks lowered their mortgage rates at the primary up to 15-18% per annum, and on the finished house – up to 13-16,5% per annum, says Marketing Director Kreditmarta Tatiana Budoragina.

Since September 2009 mortgages fell in 14 of the 18 banks included in the top 30 by assets and issuing mortgages, some of which have lowered rates twice ( “UniCredit, Raiffeisen Bank,” Intesa “) or thrice (Bank of Moscow, Gazprombank), and Nordea bank cut rates five times in six months, said project manager “Monitoring banking products” marketing agency MARX Pauline Medvedev. In her estimation, the average rate on loans for housing under construction in September fell by 3.5% per annum, at the ready – on 4,5% per annum.

without insurance

same time, some banks (for example, Nordea Bank, VTB 24, Raiffeisen Bank, Bank of Moscow, “Uralsib”, “OTP Bank) began to differentiate rates on the mortgage, depending on the of the insurance package. As “insurance” bet in the grounds of one bank can differ by 3-5% per annum, but some – and by 10% (BSGV, “Intesa”), said Medvedev. Minimum bids – for borrowers who choose comprehensive insurance (property, title and life), the maximum – for fear only bail. For example, in Rosbank ceteris paribus on the loan with the comprehensive insurance bet is equal to 15,2% per annum in rubles for insurance of mortgage and personal – 16,7% per annum, with mortgage and title insurance – 20.7% pa and if one mortgage insurance – 22,2% per annum. According to Marx and the Interfax-CEA, the beginning of March 11 of the 18 mortgage banks, the top 30 offered a choice of a mortgage with a different set of insurance services.

«Life insurance usually costs the borrower in 0,7-0,8% of the loan amount per year, while the rate on the loan without such insurance is increasing by an average of 2-3% per annum, “- warn those who decide to save money on life insurance, vice president RosEvroBank Sergei Gordeyko. He estimates that only 2% of borrowers choose loans without insurance with a higher rate.

not on their

In addition to reducing the rates banks are gradually resuming the issuance of mortgage initial contribution of at least 30% of the value of real estate. In the autumn Savings Bank, Nordea Bank, “VTB 24″ reduced the minimum contribution from 30% to 20%.

In February this year in “Absolut Bank” have been mortgage programs with with 10% down payment, requiring collateral as purchased, and existing housing. A RosEvroBank started issuing credits with 10% contribution on bail only purchased housing. But it is available only to families with children where both spouses work, and the monthly payment will not exceed 50% of total family income less mandatory spending, said Gordeyko.

Real estate prices have stabilized, so that the risks depreciation of the collateral were less than, say, a year ago, explains Budoragina. However, lowering the initial fee of 10% generally increases the rate by an average of 1% per annum, she said.

The market has already emerged individual mortgage programs and no down payment, but most of them – credits the security of available housing ( “DeltaCredit”, “Cedar”, etc.). Perhaps the only one who is (1 February) offers a mortgage with a zero contribution on bail just bought real estate – the Bank “Soviet”. However, this loan is granted only when comprehensive insurance for up to seven years under a high rate – 17% per annum in rubles. This is 2% per annum more than the contribution of 30% of the cost of housing – such is the fee for the risk of the bank, explains the head of retail lending “Soviet” Paul Sinyutenko. In addition, the commission of the bank for loans is 8% of the loan amount at the average market rate 1-2%.

can take

experts believe that mortgage terms will improve further. By the end of the year ruble-denominated loan rates on finished housing many banks will drop to 10%, believes Michael Matovnikov, General Director of “Interfax-CEA”. But the main trend this year, he believes reducing down payment. Most banks will reduce the minimum contribution of up to 20%, and the leaders of the market – up to 15%, agrees Budoragina. But the mass appearance of loans with no down payment, which is typical for the rapidly growing property market, this year no one is waiting. Only in 2011 Matovnikov hopes to see mortgages with a rate of 10% per annum in rubles for initial contribution of 10%.

Before taking even cheapened mortgage, experts advise borrowers to estimate income and ability in the future repay. The rates will fall further, but credit growth could trigger a rise in price of real estate, warns the director of the Macroeconomic Research, SU-HSE Sergei Aleksashenko. So people, confident in their ability to pay, better to take now more expensive credit, and subsequently re-credit, than to wait for housing prices, he said. According to his estimates, the growth of property prices by only 5% interrupt reduction rate on the loan by 2 percentage points. However, six months house prices are unlikely to change, and the credits will definitely accessible, certain financial officer for Universal Financial Adviser “Artem Plotnikov.

Experts advise is to assume the currency risk choosing a mortgage in dollars or euros. However, recognize that currency loans due to lower rates and the relative stability of the ruble would be advantageous.

VTsIOM commissioned by the Higher School of Economics conducted an analysis of financial literacy. The survey was conducted in late 2009, was interviewed 1600 people in 140 settlements of Russia. The study found that when purchasing financial services 54,4% of respondents read the contract carefully, clarify all misunderstandings, and only then it is signed. 28,9% of respondents read the contract, but the sign, even if there are questions to him. Another 11,5% of respondents sign a contract without reading it. About 5% were undecided on the issue.

The greatest danger to careless consumers are credit agreements, especially with express loans, processing of credit cards and car loans as these loans are processed quickly and the borrower is not always have time to grasp the meaning of contract terms, said chairman of the International Confederation of Consumer Societies Dmitry Yanin. “Banks tend to include terms in contracts is obviously disadvantageous to the borrower, such as going to court at the place of registration of a bank, the possibility of a unilateral rate increases, the calculation of disproportionate fines – continues Mr. Yanin .- In addition, these conditions are prescribed implicitly small print or hard to understand consumer language “.

It matters included in the treaties listed above conditions have resulted in numerous proceedings Rospotrebnadzor and other agencies that protect consumers, with the banks. As a result of these proceedings reached the Supreme Arbitration Court (IAC), which recognized the inclusion in contracts the possibility of a unilateral increase the bank rates on loans, dealing with disputes with borrowers in court at the location of the bank and pay a fine (penalty) for late payment of principal and interest illegal.

Because today published only the operative, and not part of the argument, ruling Presidium, bankers are reluctant to give up lucrative for themselves the conditions of contracts. “Identify any specific actions will be possible only after studying the reasoning in the decision making and the banking community consensus on this issue in the light of changing judicial practices”, – said the director of the directorate of legal support for OTP Bank Julia Oreshkina. According to the vice-president of Nomos Bank Tyantova Alexander, the bank intends to fully perform the ruling Presidium since the publication of its full version.

Given the position of the banking community, while borrowers need as closely as possible examine credit agreements and renounce the acquisition of services, if any conditions are not satisfied with them, advises attorney NPKA Lawyers capital “Paul Lambrou. “Today, all customer relationships with the Bank is governed by contract rather than the current legislation, – said Dmitry Yanin .- As long as the order of consumer credit is not clearly established in law, citizens must be especially careful study document to be signed”.

for production of counterfeit payment cards (so-called “white plastic”) and introducing them into circulation fraudsters will be held criminally responsible. Consequential amendments to Art. 187 of the Criminal Code, imposing such a penalty, endorsed the government. In particular, the manufacture for sale or sale of payment instruments, as well as for production of counterfeit cards, or putting it into circulation could be given a sentence of imprisonment for a term of two to eight years with a fine of 100 thousand up to 1 million rubles. depending on the size of the damage.

To ensure adequate protection of citizens and participants in the payment card market, the bill also proposed for the crime with payment documents and payment cards in different article of the Criminal Code, as well as to clarify subject of crime.

recently in Russia substantially increased the number of criminal assault in turnover of payment cards. According to the international payment systems Visa and MasterCard, in 2008, losing on payment cards in Russia amounted to more than 770 million rubles. That the 206% increase compared to 2007. According GIATS the Interior Ministry, the number of reported crimes under Art. 187 of the Criminal Code in 2006 was 1.4 thousand, in 2007 – 4,6 thousand, in 2008 – 6 thousand, six months in 2009 – 3,6 thousand The number Persons prosecuted, declined by 14,5%.

author of the bill President of the Association of Regional Banks “Russia” Anatoly Aksakov emphasizes that the bill would protect not only citizens who actively use plastic cards when paying for goods and services, but also banks, emitting cards.

«The growing number of fraudulent transactions with fake plastic cards began in late 2007 and intensified with the development of the crisis. Therefore, increased penalties in this area is very important “, – said deputy president of the Bank” Avangard “Valery Torkhov. The deputy chairman of board of bank “Revival” Mark Nakhmanovich believes that the more laws prescribe the rights and duties of citizens, the better: “Unfortunately, to our culture and understanding of the responsibility of the citizen were at the proper level, such steps need to do a lot more and to protect customers and to protect the banks ».

« I do not think that the fact that the tightening of this paper will lead to more prosecutions, until a method of investigation or not will be on top “, – says the lawyer of the company” Nikolaev and Partners Dmitry Udaltsov.

Previous event was held in October 2009. It was attended by 94 credit organizations or 2,486 specialists from 38 regions of Russia. Successfully passed their tests only 1,005 people.

Testing is conducted with the support of the Association of Regional Banks of Russia (Association of Russia) and the project BBDOC.RU (Library of the Banking Cases).

Information sponsor of the event serves Bankir.Ru.

standard qualifications – is the desired level of specialist training, which he must prove.

Agency “CEP” (Ekaterinburg) is developing specific standards for different banking specializations and regularly organizes mass valuation of knowledge specialists banks on interbank Web site Championships.

In one week, all the banks have applied to participate in the event, will be able to assess the knowledge of most of its employees.

• estimated carried out by testing;
• To meet the standard must correctly answer no less than 70% of test questions.
• As part of the activities proposed standards (tests) to 23 banking majors;
• Benchmark include the most important issues to assess the skills of professionals.

reason to doubt the good name of the bank does not occur until as long as their interests, declares budget. Lack of funds on the correspondent account the bank has caused tax evasion. The Federal Tax Service announced tax evasion. They are particularly attracted by the fact that the taxpayer had open accounts with other banks through which should list the taxes.

you to indicate that the availability of funds in accounts at other banks can not influence the consideration of the dispute . NC does not provide a taxpayer obligation of identifying and assessing the adequacy of funds on correspondent accounts of credit organizations in order to pay the tax, and if the deficit – duties in handling other credit institution. Especially the court noted that the tax authorities have no right to assess the feasibility of the order of business entity settlement accounts opened by them in various banks, as such decisions relate to the organizational and administrative and financial-economic activities of society and is its right.

Determination YOU Russia from February 19, 2010 N VAS-1894/10

author of the report, investigating the bankruptcy of a court decision, noted that a large contribution to the collapse of the bank made a major short-term creditors of Lehman Brothers – the U.S. banks JP Morgan and Citi. The main reason for bankruptcy was the lack of liquidity, which including the partners’ actions caused the bursting of the bank. They changed their warranty agreements and required to make additional deposits, which directly affected the liquidity of Lehman Brothers, said in the report. In addition, the bank caught in manipulating the accounts. Thus, Lehman Brothers tried to show the decline in the use of borrowed funds, said “Russia 24″.