The national bank plans to forbid early removal of bank deposits and to oblige banks to pay percent on currency deposits in hryvnia. Bankers support NBU initiatives, expecting that their realization will allow to reduce pressure upon a hryvnia exchange rate. However experts are afraid that such innovations will even more undermine trust to a banking system and will lead to further decrease in inflow of deposits.
Last week the National Bank published the draft of the resolution of board of NBU "About the Adoption of Changes in the Instruction about an Order of Opening, Use and Closing of Accounts in National and Foreign Currencies and the Provision on an Order of Carrying Out by Banks of Ukraine of Deposit Operations with Legal Entities and Individuals". In the document it is told that "investors of bank have no right to demand the termination or early implementation of obligations of bank under the contract of a bank deposit (deposit)". For example, if the investor wants to dissolve the deposit contract, "the bank doesn't carry out action according to requirements of the investor". In case of adoption of the resolution new rules will extend not only on new, but also on existing deposit contracts.
In National Bank note that developed the draft of the resolution for reduction of the regulations in compliance with the law "About Features of Carrying Out Actions for Financial Improvement of Banks" adopted on July 27. The executive director of NBU concerning payment systems and calculations Victor Kravets explained that the document has to help banks to solve a problem which arose a year ago. "The problem is connected with that conceptual approaches on this matter are turned, - the official declared. - If it is a bank deposit, it has to be brought for special term without the right of early removal. Beyond all bounds it is possible to use money from a current account. As a result of the competition of banks with each other they entered duplicating current instead of deposit accounts. That to liquidate this leapfrog, we prepared such resolution".Banks which charged high percent on current accounts under the guise of deposit, will be compelled to liquidate such products.
We will remind, in the middle of crisis bankers were indignant with early removal of deposits and asked to undertake the regulator actions on introduction of such moratorium. "I personally suggested National Bank to forbid the population to deprive of us still long ago a deposit base as it is made around the world, excepting Ukraine, Russia and some more countries", - the deputy chairman of board of one of the largest banks with the foreign capital admitted. The ban on early removal of deposits was challenged by lawyers, saying that it contradicts the Civil code. However, Victor Kravets claims that by this document of a contradiction with the Civil code will be removed: "Nobody's interests won't be infringed if the person knows that he signs". According to him, after discussion of the resolution and the approval by Ministry of Justice, it can come into force in two months.
In NBU reported that, besides, plan to oblige banks to pay percent on currency deposits only in hryvnia. "The bank deposit is the service provided by the Ukrainian bank. And by our legislation of service have to be provided only in national currency, - one of officials of NBU explained an initiative. - While we only discuss this question, probably, we will allow banks to charge percent in currency, and to pay them in hryvnia at an official rate".
As a whole bankers are happy with regulator innovations, considering that they will allow to stabilize a hryvnia exchange rate. They also consider that without problems currency percent in hryvnia will be able to pay. "If the client needs to earn, to him all the same as to make it. Most likely, after removal of percent in hryvnia it will transfer them at once to currency, but there is a hope that any part of hryvnia will return to economy", - the chairman of the board of Industrialbank Leonid Grebinsky told.
However experts consider that at part of the population the moratorium in general will beat off desire to put in banks. "The trust to banks is strongly undermined, and after these changes it at all will be gone for a long time, - the head of department of the analysis of the financial markets told ING Bank Ukraine Alexander Pecheritsyn. - If now people bear money at least in the State Banks after that can cease to do it because the policy of National Bank for the population is unpredictable".