The big banks have raised rates

The Central Bank released the results of ongoing monitoring of levels of bank interest rates on deposits. Specialists of the Central Bank studied the dynamics of changes in rates of the ten largest banks: Sberbank, VTB 24, Bank of Moscow, Raiffeisen Bank, Gazprombank, Rosbank, Alfa Bank, Uralsib, MDM Bank and Agricultural Bank. In the first decade of the April 2011 average rate rose 0.17 percentage point to 8.3 percent. Thus the current level of rates on deposits is the highest since the beginning of the year. In early January it was 8.25 percent. It makes sense to remind that we are talking about the top ten banks, not all banks. In January this year, the average rate on deposits in the top ten fell 0.11 percentage points in February - 0.04 percentage points. In March, the rate increased slightly - by 0.03 percentage points, while the second and third week of the month rates unchanged, amounting to 8.13 percent. Recall that since the beginning of 2011 the central bank has lost the right to limit the size of deposit rates. Nevertheless, the regulator continues to follow the suggestions of leading banks and publish reports that are advisory in nature. However, the Bank continues to insist that other banks do not exceed the average rate of the top ten for more than a half percent. Therefore, the lenders still use the results of this monitoring as a guide in its deposit policy. Many experts believe that the figure calculated by the top ten banks, the correct reference point is not, because, for example, state-owned banks in the top ten in no need of liquidity. They have access to the budget. But other banks need money, so tempted to raise rates on deposits to attract customers. But high interest rates attract the attention of the Central Bank, to whom we should fight against inflation and, consequently, to monitor the growth of money supply. With regard to the April monitoring CB, the results recorded in the study does not say about some serious growth rates in the financial market. In an interview with the portal Bank.ru vice president of Tinkoff Credit Systems, Oleg Anisimov, expressed the view that an increase in the average rate at 0.17 per cent is unlikely due to the new trend. "Apparently, someone in the top ten has introduced a new contribution or raise. The current level of interest rates on deposits of approximately the same level as the expected inflation rate, so we do not consider it overpriced. He adequate "- added Oleg Anisimov.