Deposit rates lower and lower

Bank of Russia has published a new monitoring data rates of ten banks, which has attracted the largest volume of retail deposits. During the first ten days of January the rate decreased by 0.21 percentage points, falling below 13% - to 12,97%. Recall that the Bank of Russia from December 28 for the tenth time in 2009 lowered the key rate, including the refinancing rate was reduced from April to 4.25 percentage points - to 8,75%. Some of these banks have trouble making a profit in 2010 due to the involvement of public funds at exorbitant rates, warned the head of the Central Bank Sergey Ignatiev last year. Banks, which are monitored: Sberbank, VTB 24, Bank of Moscow, Raiffeisen Bank, Gazprombank, Rosbank, Alfa Bank, Uralsib, MDM Bank and PSB. Central Bank considers the maximum allowable deviation from the average value of the maximum rate on ruble deposits of the largest banks by 1,5%. Banks with higher rates on deposits of individuals receive advice to reduce interest rates to market levels. In letters to the Central Bank indicating the dates during which it must be done. "By lowering the refinancing rate and regulating the market of deposits, securities issuance available to stimulate lending to businesses," - says Bank.ru. Olga Yudin, deputy head of sales of retail banking products CB "EW." "At the same time, short-term trends in interest rates to fall below 10% do not, as the banks in the current circumstances are very interested in attracting investors, and the Central Bank will sharply move down the refinancing rate. But in the long run, such a reduction is possible. According to our analysts, the opportunity to open a deposit with a rate of, for example, 15% of large banks at the moment is gone. Average deposit rate is 12-13%. The maximum does not exceed - 14,5%. After playing high-stakes could cost the bank a license "- concludes Yudin.