Deposit operations of the Bank of Russia

Deposit operations of the Bank of Russia are one of the instruments of monetary policy and are used to regulate the liquidity of the banking system, providing credit institutions with the opportunity to place temporarily free funds on deposit accounts with the Bank of Russia. The Bank of Russia's deposit operations are regulated by Bank of Russia Regulation No. 203-P, dated November 5, 2002, "On the Procedure for the Central Bank of the Russian Federation to Conduct Deposit Operations with Credit Institutions in the Currency of the Russian Federation."

Counterparties of deposit operations are the Bank of Russia, banks and non-bank credit organizations that carry out deposit and credit operations.

Types of deposit operations conducted by the Bank of Russia:

1. Deposit auctions (deposit transactions at interest rates determined on an auction basis);

2. Deposit operations at fixed interest rates;

Submission of applications to the Bank of Russia for participation in a deposit operation can be carried out:

By transferring the Agreement-Application to the Territorial Institution (TU) of the Bank of Russia;

Through negotiations using the Reuters Dealing (R-D) system;

By submitting an application to the electronic trading system of the Moscow Interbank Currency Exchange (ET MICEX).

Systematized the above information is presented in the table

Types of deposit operations	Application method	Terms of deposit operations (T - date of conclusion of the transaction)	Min. amount (million rubles)
THAT	R-D	ETS MICEX	THAT	R-D	ETS MICEX
Deposit operations at fixed interest rates	-	+	+	1 day on overnight conditions (T+0)	-
-	+	+	1 day on the terms: tom-next (T+1), spot-next (T+2)	-
-	+	+	1 week (T+0), spot-week (T+2)	-
-	+	+	on demand (Т+0)	-
Deposit auctions	+	+	+	1 month (28 calendar days) (T+1)	10 (for the Moscow region), 3 (for other regions)

The Bank of Russia presents requirements for credit institutions with which he carries out deposit operations.

Credit institutions with which the Bank of Russia carries out deposit transactions must meet the following criteria as of the day (date) of the deposit transaction, as well as upon conclusion of the Master Agreement:

Must be assigned to the I or 2 classification group of the economic situation;

Comply with the mandatory reserve requirements of the Bank of Russia;

Have no overdue monetary obligations to the Bank of Russia, including on Bank of Russia loans and interest on them;

Conclude a correspondent account agreement (or an additional agreement) with the territorial institution, providing for the right of the Bank of Russia to collect the amount of fines without the order of the credit institution.

Interest on deposits, attracted by the Bank of Russia, are accrued according to the simple interest formula starting from the day following the day the Bank of Russia actually attracts funds to the deposit, until the day the deposit is returned, inclusive, based on the number of calendar days in a year. Payment of interest on a deposit attracted by the Bank of Russia is made simultaneously with the return of the deposit amount to the credit institution.

Early withdrawal by a credit institution of funds placed on deposit is not allowed. Deposits are not subject to renewal.

Features of conducting certain types of deposit operations:

Deposit auctions are held by the Bank of Russia as a percentage tender of Agreements-Application of credit institutions for participation in a deposit auction. The operation mechanism is as follows:

1. The Bank of Russia informs credit institutions and regional institutions about the holding of auctions by publishing an official announcement that sets out the quarterly schedule.

2. Banks submit Contracts-Application with an indication of the interest rate accurate to hundredths of a percent.

3. Contracts-Applications of credit institutions accepted for the auction are ranked by the value of the interest rate offered by credit institutions, starting from the minimum to the level recognized by the Bank of Russia as the cut-off rate.

The final decision on the cut-off rate and (or) the amount of funds attracted to deposits is made by the Bank of Russia after analyzing the received Agreements-Applications of credit institutions. At the same time, the cut-off rate formed as a result of the auction may not coincide in value with the maximum initial interest rate on the deposit (in the event that the maximum initial interest rate was set by the Bank of Russia).

4. The Bank of Russia determines the list of satisfied applications. The interest rate is set based on the auction method:

According to the "American" method, Contracts-Application (included in the list of satisfied ones) are satisfied at interest rates offered by credit institutions that do not exceed or are equal to the cut-off rate set by the Bank of Russia based on the results of the auction;

According to the "Dutch" method, in which Contracts-Application (included in the list of satisfied ones) are satisfied at the cut-off rate set by the Bank of Russia based on the results of the auction.

Deposit operations at fixed rates are conducted with credit institutions that have entered into a General Agreement with the Bank of Russia. The General Agreement shall be accompanied by lists indicating the dealing codes of the Reuters-Dealing system of the Bank of Russia and the credit institution.

The Bank of Russia conducts deposit operations using the Reuters Dealing system at fixed interest rates on the following standard terms:

- "overnight" - a deposit transaction for a period of 1 business day (if a deposit transaction is made on Friday - for the period from Friday to Monday inclusive), in which funds are credited to the account on the day of the operation, and the deposit amount is returned and interest is paid on the next working day after the date of receipt of funds to the account;

- "tom-next" - a deposit transaction for a period of 1 business day (if a deposit transaction is made on Thursday - for the period from Friday to Monday inclusive), in which the receipt of funds to the account is carried out on the next business day after the transaction , and the return of the deposit amount and the payment of interest are carried out on the next business day after the date of receipt of funds to the account;

- "spot-next" (spot-next) - a deposit transaction for a period of 1 business day (if a deposit transaction is made on Wednesday - for the period from Friday to Monday inclusive), in which funds are credited to the account on the second business day after the transaction , and the return of the deposit amount and the payment of interest are carried out on the next business day after the date of receipt of funds to the account;

- "1 week" - a deposit transaction for a period of seven calendar days, in which funds are credited to the account on the day of the transaction, and the return of the deposit amount and payment of interest are carried out on the seventh calendar day after the date of receipt of funds to the account;

- "spot-week" (spot-week) - a deposit operation for a period of seven calendar days, in which funds are credited to the account on the second business day after the transaction, and the return of the deposit amount and payment of interest are carried out on the seventh calendar day after the date of receipt funds to the account;

- "on demand" - a deposit transaction in which funds are credited to the account on the day of the transaction, and the deposit amount is returned and interest is paid on the basis of a request from a credit institution with a request to return the amount of a placed demand deposit within the period specified by the credit institution in the Documentary confirmation of negotiations on the return of the demand deposit to the credit institution.

Over the 10 years of using this instrument of monetary regulation, the volume of attracting deposits has significantly increased. Also, the mechanism for their implementation is constantly being improved. Currently, the Bank of Russia, as part of the development of deposit operations, assumes:

Provide the credit institution with the opportunity to fulfill obligations under the concluded deposit transaction using both a correspondent account opened with the settlement network of the Bank of Russia and opened with an authorized RC of the OSM - at the choice of the credit institution;

Possibility for credit institutions that are direct participants in BESP settlements to send applications for participation in deposit transactions using the opportunities provided by BESP;

Provide credit institutions with the opportunity to early demand a deposit placed with the Bank of Russia for a certain period;

Change the time when the Bank of Russia concludes deposit transactions with credit institutions using the Reuters Dealing system at fixed interest rates.

Relations between the depositor and the depositary begin with the conclusion of the depository agreement. The subject of the depository agreement is the provision by the depositary to the depositor of services for the storage of securities certificates, accounting and certification of rights to securities by opening and maintaining a depositor's "deposit" account by the depositary, and performing operations on this account. The subject of this agreement is also the provision by the depositary of services facilitating the realization by the owners of securities of the rights to the securities they own, while the depository provides services for the storage of securities certificates, accounting and certification of rights to securities, if the securities are issued in documentary form. If securities are issued in non-documentary form, the depository provides services for accounting and certification of rights to these securities.

The depository agreement between the depositor and the depositary must be concluded in a simple written form, the depositary is obliged to approve the terms of its depositary activities, which are an integral part of the concluded agreement. The conclusion of a depositary agreement does not entail the transfer to the depository of the ownership of the depositor's securities. Thus, the depository does not have the right to dispose of the depositor's securities, manage them or carry out on behalf of the depositor any actions with securities, except for those carried out on behalf of the depositor in cases provided for by the depository agreement, but he bears civil liability for the safety of securities certificates deposited with him papers.

The deposit agreement must contain the following essential terms:

• a) definition of the subject of the contract: provision of services for the storage of securities certificates and / or accounting for rights to securities;
• b) the procedure for the depositor to transfer to the depository information on the disposal of the depositor's securities deposited with the depository;
• c) the duration of the contract;
• d) the obligations of the depository, the amount and procedure for payment for its services;
• e) the form and frequency of reporting by the depository to the depositor.

The conclusion of a depository agreement provides for the proper performance of all its obligations, both by the depository and the depositor.

The obligations of the depository in the course of carrying out depositary activities consist in registering the facts of encumbrance of the securities of the depositor (customer of the depositary) with obligations; maintaining a separate "depo" account of the depositor (client) with the obligatory indication of the date and reason for each transaction on the account; and transfer to the depositor of all complete information about securities received by the depository from the issuer or the holder of the register of securities owners.

After the conclusion of the depository agreement, the depository performs all transactions with securities of clients (depositors), but only on behalf of these depositors or persons authorized by them, including trustees of "depo" accounts, and within the time period established by the depository agreement. The depository makes entries on the client's (depositor's) depo account only if there are primary documents that are the basis for making such entries (instruction of the depositor or a person authorized by him that meets the requirements of the depository agreement; as well as other documents confirming the transfer of rights to securities in accordance with the applicable laws and other regulatory legal acts).

For the purposes of the proper exercise by the holders of securities of the rights to the securities they own, the depositary is obliged, first of all:

• - take all the actions provided for by the depositary agreement, necessary for the implementation of the rights of the owner on securities;
• - ensure the proper storage of securities certificates and depositary accounting documents, the storage of which is necessary;
• - provide the issuer or registrar with the necessary securities certificates, including redemption certificates, coupons and other income documents providing for payment upon presentation;
• - ensure that the owners exercise the right to vote at general meetings of shareholders in the manner prescribed by the depository agreement;
• - take all measures provided for by the agreement and the law to protect the rights of a bona fide purchaser to the securities belonging to him and to prevent the seizure of securities from a bona fide purchaser;
• - ensure, on behalf of the client (depositor), in accordance with the concluded depository agreement, the transfer of securities to the depo accounts specified by the depositor, both in this depository and in any other depository, while transferring the client's (depositor's) securities to another depository specified by the client (depositor) is not carried out in cases when another depository cannot service this issue of securities only on legal grounds;
• - ensure, on behalf of the depositor, the transfer of registered securities to the personal account "depo" in the register of holders of registered securities;
• - ensure the acceptance of securities transferred to the accounts of clients (depositors) from other depositories or directly from the registrar;
• - ensure the acceptance of securities certificates for storage, while the depository is obliged to ensure the control of the authenticity of securities certificates accepted for storage, as well as that the deposited securities certificates are not declared invalid, stolen, not wanted, not included in the stop lists issuers, law enforcement agencies or state regulation of the securities market;
• - take all measures provided for by state laws and other regulatory legal acts to protect the interests of clients (depositors) in the course of corporate actions by the issuer;
• - when the issuer compiles the lists of holders of registered securities, transfer to the issuer or registrar all information about clients (depositors) and securities of clients (depositors) necessary for exercising the rights of owners: receiving income from securities, participating in general meetings of shareholders and other similar rights ; transfer to the issuer all the information on bearer or order securities accounted for on the accounts of clients (depositors) necessary for the holders to exercise their rights under securities in the manner prescribed by law and the depository agreement, etc.

The depository shall be liable for non-fulfillment or improper fulfillment of its direct obligations to record the rights to securities, including for the completeness and correctness of entries made on depo accounts. Also, the depository may provide the depositor (client) with services related to the receipt of income from securities and other payments due to the holders of securities.

The depository is also entitled, under the concluded agreement with the depositor, to provide him with related services, for example, maintenance of cash, currency and multicurrency accounts of clients related to the conduct of transactions with securities and the receipt of income from securities; verification of securities certificates for authenticity and solvency; collection and transportation of securities certificates; withdrawal from circulation, redemption and destruction of certificates, etc.

In carrying out its activities, the depository must ensure the confidentiality of information about the "depo" accounts of the clients (depositors) of the depositary, including information about the operations performed on the accounts and other information about the clients (depositors) that became known to him in connection with the implementation of the depositary activities. In the event of disclosure of confidential information about depositors' depo accounts, clients whose rights have been violated have the right to demand compensation from the depository for damages caused in a certain manner.

Thus, information about the "depo" accounts of clients (depositors) can be provided only to the clients themselves, their authorized representatives and the licensing authority within its powers. The licensing body, within the framework of its powers, constantly monitors the activities of depositories (the depositary provides for verification - reporting on depositary operations; documents of the depositary submitted upon request; verification of activities, etc.).

If the facts of carrying out depositary activities in violation of the requirements of laws and other regulatory legal acts are revealed, the licensing authority has the right to apply sanctions and measures to such a depository provided for by laws and other regulatory legal acts, including suspending or even canceling the depositary's license as a professional participant in the securities market for depository activities.

Thus, summing up the results of the first chapter, we draw the following conclusions.

Firstly, deposit operations - operations of banks and other credit institutions, which consist in attracting funds to deposits or placing funds at their disposal in deposits with other banks or financial institutions.

Secondly, the basis of the legal regulation of deposit operations in Uzbekistan is a number of basic laws: the Civil Code of the Republic of Uzbekistan, the Law of the Republic of Uzbekistan “On the securities market”.

Thirdly, the main subjects of depository activities in the Republic of Uzbekistan are depositories and depositors. Thus, organizations - professional participants in the securities market, carrying out depository activities, are called depositories, and only a legal entity can be a depository. A person who uses the services of a depositary for safekeeping of securities and/or recording rights to securities is referred to as a depositor.

Introduction

The specificity of a banking institution as one of the types of commercial enterprise is that the vast majority of its resources are formed not at the expense of its own, but at the expense of borrowed funds. The possibilities of banks in raising funds are not unlimited and are regulated by the central bank. Since 1996, the Central Bank of the Russian Federation (CBR) has abandoned direct regulation of the ratio between the size of the bank's capital and the amount of funds raised and switched to indirect regulation through a number of mandatory economic standards (such as capital adequacy ratio, the maximum amount of risk per creditor, the maximum amount of attracting cash deposits from the population and others).

A commercial bank has the ability to attract funds from enterprises, organizations, institutions, individuals and other banks in the form of deposits (deposits) and open appropriate accounts for them. Funds attracted by banks are diverse in composition. Their main types are funds raised by banks in the process of working with clients (deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates).

The most important component of the entire banking policy is the policy of forming the resource base. The formation of the resource base in the process of the bank's passive operations has historically played a primary and decisive role in relation to its active operations. The main part of banking resources, as you know, is formed in the process of conducting bank deposit operations, the effective and correct organization of which ultimately determines the stability of the functioning of any credit institution. In this regard, the issues of increasing the resource potential and ensuring its stability through the effective management of liabilities are of particular urgency and relevance. It should be noted that the formation of the deposit policy in our country has not been given due attention. This was due to the fact that the demand for banking services significantly exceeded supply with high inflation and the availability of cheap resources - all these conditions provided a high rate of return for banking operations, changing the very nature of their risk. The decline in the rate of return and the disappearance of such traditional sources of income as interbank loans and transactions in the derivatives market made the formation of the deposit policy of commercial banks in terms of optimizing the structure of funds attracted by them and reducing interest costs a top priority.

Thus, the relevance of the theme of the diploma research “Deposit policy of a commercial bank (on the example of Metcombank OJSC) is due to: firstly, the task facing Russian banks to improve the efficiency of managing financial, intellectual, material and information resources to achieve sustainable development; secondly, the importance of determining ways to improve the deposit policy of banks.

The purpose of the thesis research is to study the deposit policy and develop proposals for its improvement on the example of Metcombank OJSC.

Based on this target setting, the following tasks were set in the work: to consider the main functions and operations of a commercial bank, to study the classification of deposit operations of a commercial bank, to analyze the types of deposits and the deposit portfolio of Metcombank OJSC, to formulate promising directions for the deposit policy of Metcombank OJSC.

The object of the study is the activity of Metcombank OJSC.

Subject thesis are the attracted funds of individuals and legal entities and their placement through deposit operations and deposit policy in JSC Metcombank.

Information base of the study: regulatory legal acts: federal laws, instructions and regulations of the Bank of Russia, regulations and regulations of Metcombank OJSC on the procedure for conducting banking operations, deposit policy, works theorists and practitioners of banking, as well as articles from the press on operational activities in the bank and Internet resources, as well as regulatory and methodological materials characterizing the activities of Metcombank OJSC.

The theoretical basis of the thesis was the legislative and regulatory acts of the Russian Federation and the Central Bank of the Russian Federation; articles in economic periodicals. When writing the work, literature was used: Banks and banking / ed. I.T. Balabanova, Banking / ed. Kolesnikova V. I., Lavrushin O. I. Money, credit, banks, Lavrushin O. I. Banking and others.

The thesis has the following structure: introduction, three chapters, conclusion, list of references, applications.

1.1. Essence and classification of deposit operations of commercial banks

International banking practice considers deposits as all possible types and forms of depositing (attracting or placing) funds to bank accounts. The amount of the deposit, on which interest is accrued in accordance with the terms of the deposit agreement, is commonly called the face value of the deposit.

The subjects of relations for servicing deposits are:

Commercial banks as borrowers;

Enterprises (firms, organizations, banks and other credit institutions, individuals - owners of funds as creditors.

The owner of the deposit is the depositors.

The object of deposit operations are contributions that are attracted to deposit accounts in a bank for a certain time. These are funds transferred under the terms and conditions of a bilateral transaction.

In the theory of lending, various approaches to the classification of deposits are used. The complexity of the problem lies in the fact that banking practice is constantly highlighting new types of deposits, which often combine the characteristic features and characteristics of previously existing types. Of course, the formation of such hybrid types of deposits makes it difficult to determine a specific place for them in the general scheme for classifying bank deposits.

Deposits are usually divided into the following types:

Poste restante;

Urgent for a certain period;

Savings deposits of the population;

Savings (deposit) certificates.

Demand deposits are liabilities that do not have a specific maturity. Demand deposits may be withdrawn at any time at the first request of the depositor. These are funds that are on current, budgetary accounts of commercial banks and are used by the owners depending on the need for these funds. The conditions for paying interest on the balances of funds on such accounts are determined in bilateral agreements when opening these accounts. Demand deposits carry a low interest rate.

Demand deposits are placed by those who need funds in liquid form for current settlements. This type of deposits includes the so-called checking deposits, in which funds are withdrawn from the account using checks.

Term deposits are liabilities that have a definite term. These are funds held in deposit accounts with a bank for the period specified in the deposit agreement. As a rule, fixed-term deposits are placed in large amounts. Banks pay higher interest on time deposits than on demand deposits. Saving funds on term deposits is beneficial for both the client and the bank. Banks use borrowed funds for a long and, most importantly, predetermined (known to them) period. This gives the bank the opportunity to increase the volume of credit resources.

Term deposits in banking practice include overnight deposits - deposits attracted by the bank for a period of not more than one business day (excluding non-working days of the bank). Term deposits are also funds received from other commercial banks as a deposit (deposit) for a specific period.

The amount, terms and conditions for accepting time deposits are determined by the borrowing bank in accordance with its financial capabilities in agreement with the depositor. Features of attracting deposits to time deposit accounts are regulated by the internal regulations of commercial banks.

A variety of long-term deposits for a certain period are certificates of deposit. A deposit (savings) certificate is a written certificate of a commercial bank on the deposit of funds, which certifies the right of the depositor or his successor to receive the amount of the deposit and interest on it after the expiration of the established period; this is a written certificate of the bank on depositing funds by depositors. The issue of savings (deposit) certificates in its economic content is similar to attracting any other term deposit.

In world banking practice, certificates of deposit are widely used. The certificates of deposit indicate the period of withdrawal of funds and the amount of the appropriate interest. A certificate of deposit is a security that can carry out independent circulation in the stock market. Forms of deposit certificates are produced in accordance with the current regulatory requirements and established samples.

Commercial banks are required to publish the conditions for issuing savings (deposit) certificates by posting such information in the printed media or in a place publicly accessible to customers at the bank's institution, or both at the same time.

Savings deposits are deposits of the population placed in banks for the purpose of storage and accumulation. This type of deposit is characterized by the presence of a special savings book, which is issued by the bank to the depositor, in which operations on the savings deposit are recorded. The owner is usually required to present savings books in order to deposit or withdraw money. In our country, the Savings Bank specializes in servicing the savings deposits of the population.

The client must carefully store savings books and, in case of loss, immediately report this to the bank institution. In this case, the account number is changed to the depositor and a new booklet is issued. The second savings book for the same deposit is not issued. All entries in the savings book are made by officials directly at the bank and only in the presence of the depositor or his legal representative or heir. The depositor is allowed to check at the Sberbank institution the correspondence of the entries on deposits in the savings book and in the personal account card. Bank securities as a type of deposits include: shares and bonds of joint-stock companies owned by commercial banks; shares and bonds held by the bank and accepted as collateral for loans, etc.

In the general system of bank deposits, so-called special deposits are also distinguished. These include: funds reserved in separate accounts for letters of credit and limited checkbook settlements; funds for factoring operations; funds for interbank settlements; accounts payable, etc.

Of great importance are interbank deposits, which are provided in the framework of correspondent relations between banks. Temporarily free funds from the bank arise due to the lack of the necessary demand in the credit market or the unprofitability of placing credit resources among customers. Often interbank deposits play the role of a tool for establishing closer and more trusting correspondent relations between banks.

Sometimes banks use in their activities, the so-called guarantee deposits. They are opened at the request of the creditor bank in the event that it has doubts about the depreciation of assets transferred to the bank as security for the granted loan, or there is a risk of insolvency of the borrower client. A feature of guarantee deposits is that the initiator of their creation is the bank itself, and not the depositor.

Deposit operations are classified as passive banking operations. The passive operations of a commercial bank characterize the sources of funds and the nature of the bank's relationships. It is they who largely predetermine the conditions, forms and directions for the use of banking resources, i.e. composition and structure of active operations.

Thus, summarizing all of the above, we can formulate the definition of deposit operations.

Deposit (deposit) operations of a commercial bank are operations to attract funds from legal entities and individuals in deposits for a certain period and on demand, as well as balances of funds on settlement accounts of clients for use as credit resources and in investment activities.

Demand deposits are funds that can be withdrawn at any time without prior notice to the bank by the client. These include funds on current, settlement, budgetary and other accounts related to settlements or intended use of funds.

Thus, the features of a demand deposit account can be characterized as follows:

A) deposit and withdrawal of money is carried out at any time without any restrictions;

B) the account holder pays the bank a fee for using the account in the form of a fixed monthly rate;

C) the bank pays low interest rates or does not pay at all for the storage of funds in demand accounts;

D) the bank on demand deposits allocates higher norms to the fund of required reserves in the Central Bank of the Russian Federation. .

With the help of demand deposits, the problem of making a profit by the bank is solved, the optimal share of these funds in the bank's resources is up to 30-36%

In second place in terms of importance for banks are term deposits, as they are stable and allow the bank to have depositors' funds for a long time. The advantage of term deposit accounts for the client is to receive a high interest, and for the bank - the ability to maintain liquidity with a smaller operating reserve. The disadvantage of term deposit accounts for clients is low liquidity. For the bank, the disadvantage is the need to pay increased interest on deposits and thus reduce the margin.

A certificate is a written certificate of the issuing bank on the deposit of funds, certifying the right of the depositor or his successor to receive the amount of the deposit and interest on it after the expiration of the established period.

A certificate of deposit has two advantages.

First, unlike other instruments of deposit policy, it is the subject of an exchange game, and, therefore, its owner can count on extracting additional profit as a result of favorable changes in market conditions.

Secondly, if the government implements its intentions to freeze the deposits of enterprises, the purchase of a certificate that is freely circulating on the market will give their owners some freedom of maneuver. In this situation, the certificate becomes an alternative means of payment.

The production of forms of deposit and savings certificates to the bearer is carried out only by printing companies that have received a license from the Ministry of Finance of the Russian Federation for the production of forms of securities. Forms of nominal certificates can be produced by banks independently by printing, photocopying, typewritten or otherwise.

In addition to dividing certificates into deposit and savings, depending on the category of depositors, certificates can be classified according to other criteria. According to the method of release, they are divided into those produced in a single order and produced in series. According to the method of registration, they are divided into nominal and bearer.

In accordance with the additions to the Letter of the Central Bank of the Russian Federation No. 14-3-20 dated February 10, 1992. "On deposit and savings certificates" certificates must be urgent. The circulation period for certificates of deposit (from the date of issuance of the certificate to the date when the owner of the certificate receives the right to demand a deposit or deposit under the certificate) is limited to one year. The term of circulation of savings certificates is limited to three years.

The owner of the certificate may assign the rights of claim under the certificate to another person. For a bearer certificate, this assignment is carried out by simple delivery, for a nominal one, it is drawn up on the reverse side of the certificate by a bilateral agreement. Name certificates can be transferred by the owner to another person by means of an endorsement (cession). When the deadline for claiming money amounts comes, the owner of the certificate must present it to the bank along with an application containing an indication of the method of redeeming the certificate.

So, drawing a conclusion from the above theoretical material, we can say that for commercial banks, deposits are the main and at the same time the cheapest type of resources. An increase in the share of this element in the resource base reduces interest expenses, but their high share weakens the bank's liquidity.

Funds attracted by the bank from its clientele are credited to current, deposit and savings accounts. The balances on such accounts are summed up and given in the balance sheet as a single indicator. In the analysis, deposit funds raised are grouped by maturity in order to know for how long a particular amount of funds is attracted.

Increasing the share of demand deposits reduces the bank's interest costs and allows for higher interest income. However, it should be borne in mind that these deposits are the most unpredictable financial instrument, so their high share in the resource base may weaken the bank's liquidity.

Term deposits are considered the most stable part of attracted resources. Increasing the share of term deposits in the resource base contributes to the bank's stability and allows effective management of the bank's liquidity and solvency.

When attracting funds as a deposit from a client, a deposit agreement is concluded with him.

Banks independently develop a form of a deposit agreement, which is typical for each individual type of deposit. The agreement is drawn up in two copies: one is kept by the depositor, the other - in the bank in the credit or deposit department (depending on who is entrusted with this work in the bank). The agreement provides for the amount of the deposit, its validity period, interest that the depositor will receive after the expiration of the agreement, the obligations and rights of the depositor, the obligations and rights of the bank, the responsibility of the parties for compliance with the terms of the agreement, and the procedure for resolving disputes.

For registration of operations on deposits, the following are used: a personal account, a savings book, a control sheet, a settlement and check book, an alphabetical card, an operational diary, receipts, cash receipts, an instruction from the depositor to write off the amount, a notice to subsequent control, an application for the transfer of a deposit, a register for records of applications, a book of registration of lost savings books (Sberbank technology), other banks operate on the basis of a deposit agreement.

The contribution can be made in cash only from natural persons. The procedure for accepting a deposit in cash is reflected in Appendix B. From legal entities, contributions to deposit accounts are accepted only by bank transfer.

When closing the deposit, the client must submit to the bank the deposit agreement and the deposit book, which must be redeemed.

The bank offers the client to issue an expense cash warrant for the amount of the deposit and interest on it.

The main tasks for managing the bank's deposit operations are: to prevent the presence in the bank of attracted and borrowed funds that do not generate income, except for the part that ensures the formation of required reserves; seek the necessary credit resources for the bank to fulfill its respective obligations to customers and develop active operations; ensure the bank's profit by attracting "cheap" resources.

The current economic situation is forcing banks to change their policy in the field of passive operations through the diversification of deposit operations.

The intensification of competition between banks and other financial structures for deposits of individuals and legal entities has led to the emergence of a huge variety of deposits, their prices and service methods.

According to some foreign experts, there are currently more than 30 types of bank deposits in developed countries. At the same time, each of them has its own characteristics, which allows customers to choose the most appropriate and possible form of saving money and paying for goods and services that suits their interests.

It is also important in what relationship the bank has with the state, since it is in the minds of citizens that it begins to gain more and more weight. Thus, in order for the bank to have a guaranteed opportunity to attract representatives of the general population, it is necessary to fulfill, first of all, the listed conditions.

For businessmen representing the interests of enterprises, in the first place are the factors of information security, confidentiality and reputation. This is quite justified due to the non-decreasing criminalization of the commercial sphere. And yet, for the average Russian, the problem of investing comes down to a choice between a bank deposit, a few types of securities, and money on hand. But in spite of everything, deposits rightfully remain among the population the most popular way of saving and accumulating money.

It can be seen from the above that deposits among the attracted funds of the bank are an important source of resources. However, such a source of formation of banking resources as deposits are also inherent in some shortcomings. First of all, we are talking about the significant material and monetary costs of the bank when attracting funds to deposits, the limited availability of funds within a particular region.

And, nevertheless, the competition between banks in the market of credit resources forces them to take measures to develop services that help attract deposits.

1.2. Basic provisions and principles for the implementation of the deposit policy of a commercial bank

The main goal of the Bank's deposit policy is to attract the optimal amount of financial resources (by terms and currencies) necessary and sufficient to operate in the financial markets, provided that the minimum level of costs is ensured.

Resources are attracted in the course of specific
operations under the current banking licenses. At the same time, the main instruments used by the Bank to attract resources are:

Opening and maintenance of accounts for legal entities and individuals,
implying the receipt of funds in these accounts;

Opening and maintaining accounts of other banks, involving the receipt
to these accounts of funds;

Issue and sale of bank bills;

Opening limits on the Bank by other banks, allowing
attract resources in the form of interbank loans.

The list of instruments for raising funds can be expanded in the course of further banking activities. In particular, the bank may start issuing its own bonds, conclude an agreement with the Central Bank of the Russian Federation to receive loans from it.

Carrying out banking operations that allow attracting resources,
provide the following divisions of the Bank:

A) Customer Relations Department:

Attracting funds "on demand" from legal entities and individuals
persons (excluding employees of the Bank) through the opening of the relevant
accounts;

Attracting urgent funds from legal entities and individuals
(including employees of the Bank) through the opening of deposit accounts.

B) Department of Accounting and Reporting:

Attracting funds "on demand" from the Bank's employees through
opening appropriate accounts for them;

B) Treasury:

Attracting funds from banks through the sale of bills of exchange of the Bank,
obtaining interbank loans from them, placement of banks' funds on their correspondent accounts opened with the Bank;

Attracting funds from legal entities and individuals through the sale of
bank bills.

In the course of conducting deposit operations, the Bank's divisions are guided by the legislation of the Russian Federation, the regulations of the Central Bank of the Russian Federation, the Charter of the Bank, this Document and internal documents regulating technical procedure and conditions for conducting specific types of banking operations.

The deposit policy of the Bank is closely connected with the credit and interest policy of the Bank, being one of the elements of the banking policy as a whole.

The deposit policy of the Bank is formed with the following stages:

Setting goals and defining objectives of the deposit policy;

Identification of the relevant departments involved in the implementation deposit policy, distribution of powers of the Bank's employees;

Development of the necessary procedures and technical procedures for conducting banking operations that ensure the attraction of resources;

Organization of control and management in the process of banking operations aimed at attracting resources.

When forming the deposit policy, the following specific principles are taken into account:

Principles for ensuring the optimal (taking into account the subsequent receipt of income from the allocation of resources) level of costs;

The principle of security of conducting deposit operations and maintaining reliability of the Bank.

Compliance with the above principles allows the Bank to form both strategic and tactical directions in the organization of the deposit process, thereby ensuring the efficiency and optimization of the deposit policy.

The deposit policy of the Bank is built depending on (Figure 2):

The deposit policy of the Bank provides for:

Analysis of the deposit market;

Determination of target markets to minimize deposit risk;

Minimization of expenses in the process of attracting funds;

Optimization of the management of the Bank's deposit portfolio in order to maintain the required level of the Bank's liquidity and increase its stability.

The Bank, when conducting its deposit policy, takes into account the following factors:

Changes in tax legislation;

The current state and trends of the financial market, as in part
attraction and allocation of resources;

Changes made to the calculation of banking standards;

Change in the refinancing rate of the Central Bank of the Russian Federation;

Limits, control figures set by the Bank itself on
ongoing banking operations.

The implementation of the Bank's deposit policy is carried out in the course of
conducting specific banking operations that allow you to raise funds. At the same time, the BANK conducts deposit operations, that is, it attracts funds on the terms:

recurrence;

Urgency;

Payment (when it is provided by the relevant agreements);

Publicity (regarding the conditions for raising funds).

The main principle of the Bank's operation during deposit operations is to ensure the required amount of resources for the normal functioning of the Bank, achieved at minimal cost for their purchase.

The main principle is achieved through portfolio diversification
attracted financial resources by sources of their attraction and structure,
linking the volume and structure of these resources (by currency and maturity) to the volume and structure of assets. An obligatory requirement in determining the possible conditions for attracting resources is a preliminary analysis of possible directions for spending the attracted resources with an assessment of financial results and structural changes as a result of the proposed banking operations.

Consider the deposit policy of the bank when conducting specific deposit operations.

Opening and maintenance of accounts for legal entities.

The main source of formation of the Bank's resource base is the balance of funds on the accounts of legal entities - the Bank's clients. The Bank's policy in working with legal entities is primarily based on working with existing customers of the Bank. The increase in the sustainability of the Bank's resource base (in terms of volume and timing) should be facilitated.

Business development by existing clients of the Bank;

Opening accounts in the Bank by organizations and enterprises -
counterparties and partners of existing clients of the Bank;

Accumulation of financial flows associated with the implementation
programs and projects implemented with the participation of the Bank's clients.

The Bank opens and maintains accounts of legal entities in rubles and foreign currency on the basis of existing agreements that differ depending on the urgency of the accounts and categories of customers (municipal enterprises property, other categories of organizations and enterprises).

The pricing policy of the Bank in working with clients - legal entities,
provides for no payment for the balances of funds held on the settlement accounts of legal entities, except for cases of setting an individual fee for the balances of funds on the accounts of enterprises and organizations.

Given the increasing demands from the Central Bank of the Russian Federation regarding
increase in the level of liquidity, expressed in the need for daily
compliance with banking standards, as well as striving to balance resources with assets by maturity, the Bank takes measures aimed at increasing the share of term resources in the total amount of funds on the accounts of legal entities. These activities involve personal work with specific clients, involving:

Tracking the movement of funds on the accounts of clients - legal entities, selecting, based on the information received, the most promising clients in terms of forming an urgent resource base based on the database of clients;

Creation of conditions for clients - legal entities, stimulating the transfer of part of the funds from current accounts to urgent accounts;

Timely informing clients - legal entities about the new terms of customer service.

As part of solving the problems of expanding the circle of legal entities,
serviced by the Bank, increasing the resource base of the Bank at the expense of funds
accumulated on the accounts of legal entities, priority is given to creating conditions for clients that facilitate the inflow of financial resources into the Bank. Such conditions may include the Bank's competitive tariff policy compared to other banks, the Bank's flexibility in setting fees for borrowed funds, favorable service conditions for customers, including obtaining loans, the possibility of remote customer service through the Client-Bank system, etc. Further.

Opening and maintenance of accounts for individuals

The balances of funds on the accounts of individuals - clients of the Bank are
a rather limited part of the total amount of funds raised by the Bank.
However, given the fact that the market of clients - legal entities is divided and further growth of the resource base only at the expense of legal entities is problematic, the issue of intensifying work with individuals is expected pay more attention.

The Bank's policy in working with individuals is based primarily on working with employees of organizations and enterprises that are Bank clients. In the course of the further work of the Bank, the development of new areas of activity, in particular the development of a network of operating cash desks, the circle of clients - individuals will also expand. The Bank opens and maintains accounts of individuals in rubles and foreign currency on the basis of existing agreements, which differ depending on the urgency of the accounts.

The pricing policy of the Bank in working with clients - individuals, provides for:

No fee for balances of funds held on current accounts of individuals.

Availability of a fee for balances of funds held on time (deposit) accounts of individuals, the amount of which is determined based on the basic conditions for raising funds approved by the Management Board of the Bank.

B The Bank is taking measures aimed at increasing the share of term resources in the total amount of funds on the accounts of individuals, which is served by the Bank's interest rate policy, which provides for the creation of competitive conditions for attracting funds from individuals.

The inflow of funds from individuals is directly or indirectly facilitated by additional services provided by the Bank to individuals. Among these services is the issuance and maintenance of plastic cards, money transfers, payment for services, in particular for purchased apartments, and so on.

Issue and sale of bank bills

The issue of bank bills is an important source of attracting funds to the Bank and, above all, "term" resources. The Bank's policy in the field of issuing and placing its own promissory notes is based primarily on work with the Bank's current clients - legal entities. The Bank issues and sells its own promissory notes in rubles and foreign currency on the basis of agreements in force with the Bank. At the same time, the purchase of currency bills is allowed in rubles of the Russian Federation, which allows - the Bank's clients, when buying currency bills, to insure themselves against currency risk. In addition, bank bills are used as a means of payment in settlements.

The Bank issues both interest-bearing and discount bills. Wherein,
the yield on bank bills depends on a number of circumstances and is determined by the Management Board of the Bank. With the abolition of the standard, the restriction on raising funds through the issuance of bank bills was lifted. However, the Bank pursues and intends to pursue a prudent policy in relation to raising funds through the issuance of its own promissory notes, limiting their average volume to the amount of capital.

Attracting interbank loans

Raising funds through interbank lending does not have a significant impact on the overall resource base of the Bank. At the same time, the role of this source of attracting resources is very large, which is associated with the efficiency of raising funds in the interbank market in case of a sharp need for resources to fulfill obligations to customers and maintain the required level of liquidity.

The Bank's policy in the field of interbank lending is based both on working with large, financially stable banks, and on working with medium and small banks with a good reputation. Decision-making procedure for attracting resources

Making a decision on specific banking operations that allow you to raise funds (except for operations related to the current flow of funds on settlement accounts of clients), is preceded by a feasibility study carried out by the Bank's division responsible for this area of ​​work.

Technical and economic analysis may have its own specifics, differing in depending on the type of proposed banking operation.

However, it must answer the following questions:

The purpose of attracting resources,

Sources of resources,

Potential fundraising amount

The period for which funds are expected to be raised,

The cost of attracted resources (relative and absolute),

Estimated effectiveness of the operation related to raising funds, that is, an estimate of the final yield from the placement

Funds raised in the course of active banking operations (when funds are raised for the purpose of subsequent placement),

Additional pluses and minuses during the proposed operation. The result of the analysis is a Transaction Conclusion (if necessary) prepared by the Bank's division responsible for this type of transaction.

Fundamental decisions on issues related to attracting resources are made by the Board of the Bank, which determines the general and price (interest) policy of the Bank in the field of attracting resources, approves the marginal interest rates for attracted resources for a specific period of time (usually a quarter), individual interest rates for specific customer accounts.

Decisions on conducting specific deposit banking operations are made by the Chairman of the Management Board of the Bank within his competence or by the heads of the relevant structural divisions of the Bank in accordance with the powers assigned to them.

At the same time, the conditions for carrying out transactions must be within the maximum allowable interest rates for attracting resources, approved quarterly by the Bank's Management Board.

The procedure for conducting deposit banking operations

Methodological basis for conducting specific banking operations, related to raising funds, serve the relevant intra-bank documents (regulations, instructions, technical procedures) in force in the Bank. Implementation of the decisions made on raising funds is carried out by specific divisions responsible for certain banking operations. Other banking divisions may be involved in the documentation of ongoing banking operations and, if necessary, in the control and accounting of these operations.

In the course of carrying out specific banking operations related to attracting resources, the Client Relations Department, the Treasury and the Accounting and Reporting Department coordinate their activities with each other. At the same time, when processing the relevant documents and conducting banking operations, these divisions of the Bank interact with other divisions of the Bank and, first of all, with the Legal Department, Financial Department, Information Technology Department, Security Service.

Control over the Bank's deposit policy and banking operations related to attracting resources

Control over the deposit policy pursued by the Bank and specific banking operations related to attracting resources is carried out within the framework of the general internal control system operating in the Bank. At the same time, the main supervisory bodies include both internal divisions of the Bank (Department for registration of operations, Department of accounting and reporting, Financial Department, Internal Control Service), such external inspection bodies (Audit Commission, Auditing Organization, Tax Authorities, branch of the Central Bank of the Russian Federation in charge of the Bank's activities).

The Transactions Processing Department carries out its control functions in the course of processing transactions conducted by the Treasury and related to raising resources (issuing own bank bills, attracting interbank loans, and so on).

The Accounting and Reporting Department performs its control functions by signing relevant agreements drawn up for ongoing banking operations, accounting for ongoing operations, preparing appropriate financial statements that give an idea of ​​the volume and structure of the Bank's liabilities as of a specific reporting date. Form No. 125 can serve as an example of such reporting, which is prepared as of the 1st day of each month and gives an idea of ​​the volume and structure of the Bank's liabilities over time.

Comparison of the results obtained on the basis of this form with similar results for the previous period, as well as timely informing the Bank's Management of significant changes in the volume and structure of the Bank's liabilities, allows us to take prompt measures aimed at fulfillment of the general tasks facing the Bank, flexibly regulate the conditions for attracting and allocating resources.

The financial department exercises control functions for the deposit policy pursued by the Bank in the course of preparing daily reporting information submitted to the Bank's Management and containing, in particular, data on the volume and structure of liabilities. This information is concretized by the Customer Service Department, which prepares daily data on cash balances on current and term accounts of the Bank's main clients.

Besides, Financial managementperforms monthly settlement key banking indicators, including indicators that give an idea of ​​the average monthly volume of the Bank's liabilities in a specific breakdown. The dynamics of these indicators makes it possible to judge trends in the volumes and structure of liabilities, to take, if necessary, measures aimed at solving emerging problems.

The Internal Control Service exercises control functions over the Bank's deposit policy, as well as over the operations themselves related to attracting resources during scheduled and unscheduled inspections carried out in those areas of the Bank's activities and those banking operations during which the Bank's resource base is formed.

The Audit Commission of the Bank, acting within its powers, assesses the financial condition of the Bank and, thus, indirectly relates to the issues of the deposit policy pursued by the Bank in the reporting period. In addition, if necessary, the Audit Commission has the right to conduct targeted overscheduled inspections in specific areas of the Bank's activities, including on issues of the current deposit policy.

The audit organization, conducting annual audits of the Bank's activities, along with other issues, pays great attention to the deposit policy pursued by the Bank.

The tax authorities, in the course of their inspections, pay special attention to the issues of calculating interest on deposits of individuals, and related to these percentages of tax calculations (when they take place), that is, they indirectly relate to the issues of the Bank's deposit policy.

The branch of the Central Bank of the Russian Federation in charge of the Bank's activities controls the Bank's activities on deposit policy issues during inspections of the Required Reserve Funds formed for the Banks based on the average monthly volumes of funds attracted from legal entities and individuals.

1.3. The mechanism for the implementation of deposit operations

The mechanism for attracting funds by commercial banks of the Russian Federation (both in national and foreign currency) of legal entities and individuals to deposit accounts and issuing savings (deposit) certificates is regulated by the Rules for the implementation of deposit operations for bank deposits (approved by the Decree of the Central Bank of the Russian Federation of June 30, 1998 No. for No. 250).

The attraction of deposits (deposits) of legal entities and individuals is formalized by the bank by opening a term deposit account with the conclusion of a bank deposit agreement (issuing a savings book) or issuing a savings (deposit) certificate. Under a bank deposit (deposit) agreement, a commercial bank that has accepted money from a depositor undertakes to pay the deposit (deposit) amount and accrued interest to the depositor on the terms and in the manner stipulated by the agreement. The bank deposit agreement must be concluded in writing.

Legal relations between the bank and the client arise at the time of the conclusion of the deposit agreement by both parties and are valid until the full fulfillment of mutual obligations. The Bank guarantees the customer the secrecy of the deposit.

The deposit agreement certifies the right of a commercial bank to manage the funds attracted from legal entities and individuals and the right of depositors to receive within a clearly defined period the amount of the deposit and interest for its use. The parties to the deposit agreement are legal entities and individuals who acquire rights and assume obligations under the agreement. The subject of the deposit agreement is the conditions characterizing the provision of services by the bank to customers in the course of deposit operations.

The deposit agreement is drawn up in two copies. The bank employee registers the contract in the registration book, fixes the date, contract number and deposit account number. The contract is concluded on both sides and sealed. After the full execution of the contract, one copy is issued to the client. If, at the end of the term of the contract, neither party wishes to terminate it, the contract, as a rule, is considered extended for the same period and on the same conditions.

The main details and terms of the deposit agreement should be:

Name and address of the bank that accepts the deposit (deposit);

Name and address of the owner of funds;

Date of deposit; deposit amount;

Date of the depositor's demand for his funds;

Interest rate for the use of the deposit (a commercial bank may reserve the right to change the interest rate in accordance with a change in the discount rate of the Central Bank of the Russian Federation with a corresponding notice to the depositor, if the depositor does not agree, the agreement may be changed or terminated in accordance with the current legislation of the Russian Federation);

The obligation of the bank to return the amount that has been deposited;

Signatures of the parties: the head of the executive body of the bank or an authorized person and depositors (for a legal entity - the head or an authorized person, for an individual - the owner of the funds or an authorized person).

The client's obligations under the deposit agreement consist in the timely transfer of funds to the bank's deposit account; the bank's obligations - to accept funds to a deposit account, calculate interest, ensure the complete safety of the deposit amount and return it after the expiration of the contract or ahead of schedule at the request of the client. The Parties undertake to maintain secrecy behind all actions related to the execution of the deposit agreement.

Deposits in banking institutions are strictly voluntary. Banks usually set a minimum down payment. A depositor - an individual has the right to issue a power of attorney or a testamentary disposition on a deposit. In accordance with legal norms, the right of one party to the deposit agreement corresponds to the obligation of the other party. Foreclosure on deposits of legal entities and individuals in commercial banks may be levied on the basis of a verdict or court decision that satisfied a civil claim. Confiscation of deposits can be carried out only on the basis of a judgment that has entered into legal force, or decisions on confiscation of property issued in accordance with the law.

Each commercial bank should give priority to modern technologies for managing deposits (deposits) and savings of legal entities and individuals. It is important for banks to use a variety of holiday, New Year, vacation, tax and other term deposits in order to accumulate funds sufficient, for example, to buy New Year's gifts (or gifts for other holidays), pay vacation expenses, etc.

Recently, the practice of domestic commercial banks with certificates of deposit has been spreading. Certificates can be nominated both in national and foreign currencies. Certificates are paid out in rubles, and in cases stipulated by the terms of their issue - in foreign currency. Certificates can be issued: one-time or in series, registered or bearer, urgent or on demand. The period of circulation of the certificate is set from the date of its issue to the date when the owner of the certificate receives the right to demand a deposit (deposit) with the certificate.

Certificate blanks must contain the following obligatory details: name "savings (deposit) certificate"; serial number of the certificate and its series (if the issue is serial); date of deposit; the amount of the deposit issued by the certificate (letters and numbers); ways "the decision of the bank to return the amount deposited; the date of the depositor's demand for the amount for the certificate; the interest rate for using the deposit; the terms of payment of the interest rate - if the depositor demands the return of the deposit before the agreed time; the name and address of the issuing bank, and for the nominal certificate - the name (name) of the depositor; a place for the signature of a person who is authorized by the bank to sign the obligation, and a place for the seal of the bank.

Introduction

1 Organization of depository operations in credit institutions

1.1 The concept and economic significance of custody operations and their legal regulation

1.2 Participants in custody operations and their brief description

1.3 Mechanism for depository operations

2 Registration and accounting of depository operations in credit institutions

2.1 Analytical and synthetic accounting of depositary operations

2.2 Depository reporting

2.3 Procedure for registration of depository operations

Conclusion

List of used literature

Applications

Introduction

In carrying out their activities, banks and other credit organizations perform two main tasks: the first task is to attract private savings and money capital scattered throughout the country; the second task is that they must place these amounts (savings and capital) at the disposal of those persons who would be in a position to use them effectively. To carry out the above tasks, banks and other credit organizations must perform a number of specific actions, which are called banking operations. Banking operations play a paramount role not only in the functioning of the bank itself or other credit institution, but also in the development of the entire complex of industry, agriculture and other sectors of the economy of our country.

Among the numerous list of banking operations, depository operations should be singled out separately. In itself, the depositary activity of a bank or other credit organization is, first of all, the provision of services for the storage of securities certificates and / or accounting and transfer of rights to securities; and, accordingly, depository operations are operations carried out by a bank or other credit institution as part of its depository activities.

In the presented course work will be considered a topic devoted to the study of theoretical and practical aspects of the organization, registration and accounting of depository operations in credit institutions in modern conditions. The relevance of the study of depository operations is due to the special specificity of registration and accounting of such operations in credit institutions, as well as the constant change in banking legislation in relation to their organization.

The object of study of this course work is a complex of economic relations for the implementation of depositary operations in credit institutions. The subject of the study is the organization, execution and accounting of depositary operations in credit institutions at the present stage.

The study of the chosen topic - "Organization, registration and accounting of depository operations in credit institutions" involves the achievement of the following goal in the course work - to explore the organization, execution and accounting of depository operations in credit institutions from the point of view of modern legislation of the Russian Federation. In accordance with a specific goal in the presented course work, the following tasks were set and solved:

ü explore the organization of depositary operations in credit institutions from the point of view of modern legislation;

ü consider the procedure for registration and accounting of depositary operations in credit institutions in the modern aspect in theory and practice;

Methods of research and study used in the course work:

· consideration of theoretical and practical material on the organization, registration and accounting of depositary operations in credit institutions;

· structural-functional method - determination of the role of depository operations in the overall system of operations of a credit institution and their significance;

· analysis of the received theoretical and practical materials;

· a method of summarizing the obtained information and materials, conclusions.

As a theoretical basis for the study in the course work, the works and manuals of Russian authors on the study of depositary operations in credit institutions from the point of view of modern financial science were used. These are the works of such authors as Beloglazova G.N., Korobova G.G., Kolesnikov V.I., Lavrushin O.I., Platonov V., Golovin Yu.V., Maslenchenkov Yu.S., Chelnokov V.A. . and etc.

The legislative basis of this course work is the Constitution of the Russian Federation, the Civil Code of the Russian Federation, the Tax Code of the Russian Federation, federal laws - "On banks and banking", "On the securities market" and other legal acts regulating the organization, registration and accounting of depositary operations in credit institutions in the territory of the Russian Federation.

The set goals and objectives determined the structure of the presented course work. The structure of the work is as follows - the course work consists of an introduction, two chapters, a conclusion, a list of references and applications. The work is presented on 33 pages. 30 scientific sources were used for writing.

1 Organization of depository operations in credit institutions

1.1 The concept and economic significance of custody operations

and their legal regulation

Custody operations are operations carried out by a bank or other credit organization as part of its depository activities. According to Art. 7 of the Federal Law of the Russian Federation "On the Securities Market" dated April 22, 1996 No. 39-FZ, the depositary activity of a bank or other credit institution is recognized as professional activity in the securities market, which consists in the provision of services for the storage of securities certificates and / or accounting and transfer of rights to securities. From this definition it follows that the object of the depositary activity of a credit institution are securities that can be issued by residents of the Russian Federation and non-residents of the Russian Federation. In the second case, the requirements and prescriptions of federal laws and other normative legal acts of the Russian Federation, as well as the requirements of the legislation of the state in whose jurisdiction these securities are located, must be observed. The specified securities can be represented by two types - issuance securities of any form of issue (uncertified and documentary of all types), and non-issue securities issued in compliance with the form, conditions and procedure established by law.

The Regulations on Depository Activities in the Russian Federation, approved by Resolution No. 36 of the Federal Commission for the Securities Market dated October 16, 1997, establish that depository activities include the obligatory provision of services to clients for accounting and certifying rights to securities, accounting and certifying the transfer of securities securities, including cases of encumbrance of securities with obligations. It should be noted here that simple storage of securities certificates, which is not accompanied by registration and certification of the rights of clients (depositors) to securities, is not a depositary activity of a credit institution and is carried out in accordance with the current rules of the civil legislation of the Russian Federation on storage.

The main subjects of depository activities in the Russian Federation are depositories and depositors. Thus, credit institutions - professional participants in the securities market, carrying out depository activities, are called depositories, and only a legal entity can be a depository. A person (actually a client) using the services of a depository for safekeeping of securities and/or recording rights to securities is referred to as a depositor.

Depositories first appeared at the end of the 19th century with the aim of speeding up settlements in organized securities markets. Initially, depository systems were created to serve stock exchanges, where professional market participants made transactions among themselves and where the requirements for the speed of registering a change of ownership and the effectiveness of this procedure were especially high. As institutions providing services for the storage of securities certificates and / or accounting and transfer of rights to securities, depositories were formed later, in the first half of the 20th century. Clients deposited certificates in the exchange depository, and the change of ownership was reflected in the depo accounts, while there was no need to reissue securities certificates that were issued to the depository and continued to be in its vault. So, settlements on securities became non-cash and were reduced to making changes to depo accounts. In many cases, issuers preferred to fulfill their obligations to investors with the help of a depositary, who acted as an intermediary between the issuer and the investor, helping the depositor to receive the due income, transferring information received from the issuer for him. The presence of a depository contributed to the acceleration of settlements on transactions in organized securities markets.

In modern conditions, when it is already possible to speak about a good and fairly high level of development of the Russian securities market, depository activity in our country leaves much to be desired. Thus, the requirements of investors for high-quality depositary services are not fully satisfied, and the degree of development of depositary technologies in the Russian Federation does not allow for a unified and high-quality level of their service. All this leads to additional risks for investors and a decrease in confidence in the infrastructure of the stock market of the Russian Federation as a whole, which leads to a decrease in the amount of funds attracted to the country's economy.

In connection with the foregoing, an important task for the further development of the Russian securities market is to improve depository activities by ensuring the safe storage of securities, prompt access to them and re-registration of property rights with minimal risk for owners. The solution of this problem can be considered one of the main conditions for ensuring the attractiveness of the stock market of the Russian Federation for all categories of national and foreign investors. The formation of an effective depository system is a prerequisite for stimulating savings and transforming savings into investments, and ensuring the full range of investor rights.

The need to solve the above tasks is confirmed by the Concept for the Development of the Securities Market in the Russian Federation, adopted by the Government of the Russian Federation in 2002, which defines the improvement of depository activities as one of the main directions for the development of the stock market of the Russian Federation. To achieve this goal, the Russian Federation has adopted a number of legal documents regulating the general rules and mechanism for carrying out depositary activities in the Russian Federation, defining the rights and obligations of participants in depositary operations, the procedure for maintaining depositary records, and also providing for the procedure for state regulation and supervision of depository activities. throughout the country.

The legal regulation of depository activities, in fact, helps credit institutions of the Russian Federation to ensure the safety of the assets of clients (depositors) and the proper quality of depository services, ensure readiness for long-term depository specialization and guarantee the optimal cost of such services, assume the possibility of access to additional services and the possibility of interaction with clients (depositors) in other directions. In short, the depository activities of a modern credit institution in the Russian Federation should be aimed at meeting the needs of depositors to the maximum.

1.2 Participants in custody operations and their brief description

Participants of depository operations are a depository - a legal entity professionally engaged in depository activities, and a depositor - a client - a person using the services of a depository for safekeeping of securities and/or registration of rights to securities. The relations entered into by the depositor and the depository are formalized by a depository agreement (depo account agreement).

A depository is a legal entity licensed to carry out depositary activities, in its activities it is guided by federal laws and other regulatory legal acts, orders, regulations and instructions of the Bank of Russia, as well as an agreement with a client. Depositories can be of several types: global depositories (custodians) and regional depositories (sub-custodians, sub-depositories); central depositories and their agents in the field.

Global (international) depository organizations - custodians are used by institutional funds in order to receive a wide range of services for the storage and administration of the funds' assets. In modern conditions, custodial activity is based on the ability to provide integrated banking services. In particular, custodial institutions should provide facilities for making cash payments. Global depository organizations (custodians), which are non-banking institutions, are forced in this regard to use the services of attracted banking structures. Global depositories (custodians) usually play the role of intermediaries in the investment process, involving regional depositories - sub-custodians, integrated into the sub-custodian network, to provide depository services.

Sub-custodians (sub-custodians) usually provide retail custody services that support the activities of international depositories (custodians). In performing their main functions, sub-custodians (sub-custodians) often establish direct relationships with end investors in securities.

The next type of depository organizations is central depositories, which can be conditionally divided into international and national ones. International CSDs include Cedel and Euroclear. They carry out the delivery of securities against payment, clearing and settlement of securities, crediting clients with securities and cash secured by securities, and provide brokerage services. Membership rules in international depositories limit the ability of institutional funds to directly participate in them, although asset managers may be members of these organizations.

National central depositories currently exist in most of the developed financial markets of the world. They provide services for the supply of securities against cash payments. Membership opportunities in central national depositories are usually provided only for banking and brokerage organizations, which turns them into wholesale depository organizations. The types of depositary services and operations provided by national central depositories are usually very limited and differ significantly in financial markets, which makes direct use of the services of central depositories outside of any country practically impossible.

It is important to note that the issuer of securities must choose ("accredit") only one depository, which will confirm to him the rights of other persons enshrined in securities. Such a depository is conditionally called the "head registering depository", in domestic legislation it is called the registrar. Each issuer must have only one head registrar for all issues of its securities, unless otherwise specified by regulatory authorities. The head depository performs the following actions:

a) enters into an issuance account "depo" agreement with the client;

b) keeps one copy of the global single (total) certificate of the issue of securities on the basis of the issuance account "depo" agreement, may store single or summary certificates;

c) takes into account the rights to securities owned by sub-depositories;

d) registers the rights to securities of sub-depositors, to whom the securities are transferred for trust management, on the "depo" account in trust management, and the management company for managing pension savings;

e) take into account in total on the correspondent "depo" account of the sub-depository the rights to securities of all depositors that have the owner's "depo" account and (or) the "depo" account in trust management of the sub-depository;

f) have the right to take into account in aggregate the rights to securities on the "depo" correspondent account of a specialized depository that records the rights to bonds acquired as a result of investing pension savings.

In turn, a sub-custodian is an organization that records the rights to securities of owners who are not sub-custodians on the owner's "depo" account and can store single and (or) summary certificates; entered into a correspondent account "depo" agreement with the head depository for accounting in the totality of rights to securities accounted in this sub-depository; is not entitled to open "depo" accounts with other sub-custodians or for other sub-custodians; and keeps records of the rights to securities of depositors who are not sub-depositors and to whom the securities have been transferred for trust management, according to the "depo" account in trust management.

In order to transfer rights to securities between depositors who have entered into agreements with different depositories, these depositories must be in contractual relations with each other - directly or indirectly. Such relations are called "inter-depository" relations, and the agreements concluded to maintain them - "agreements on inter-depository relations". For each issue of securities between the head depository and any other depository that has entered into agreements with the owners of the same securities, there must be an "accreditation" relationship - either directly or through other depositories. "Accreditation" relations are relations that mediate the transfer of information that allows confirming the rights of owners: "from below" from the depositories that have concluded depository account agreements with the owners - "up", to the head depository, they are drawn up by special agreements.

In carrying out its activities, the depository is obliged to develop and approve the conditions for the implementation of depository activities, which must contain information relating to: operations performed by the depository; the procedure for the actions of the clients and the depositary's personnel when performing these operations; grounds for conducting operations; samples of documents to be filled in by clients of the depositary; samples of documents that clients receive in their hands; timing of operations; tariffs for depository services; procedures for acceptance for servicing and termination of servicing the issue of securities by the depository; the procedure for providing depositors with statements from their accounts; the procedure and terms for providing depositors with reports on transactions performed, as well as the procedure and terms for providing depositors with documents certifying rights to securities.

A depositor is a natural or legal person who uses the services of a depository on a contractual basis to carry out depository activities. Thus, a depository's depositor may be a legal or natural person who owns securities by right of ownership or other real right (the owner of securities), as well as another depository, including acting as a nominal holder of its clients' securities. The clients of the depository may also be securities pledgees and securities trustees. A depository or its branch accounting for securities owned by the depositary on the basis of the right of ownership or other real right, as well as transferred to the depositary for trust management or for carrying out other operations, may also be a depositor.

The depositor may transfer the authority to dispose of securities and exercise rights under securities held or rights to which are recorded in the depository to another person - the account custodian. Persons holding a license as a professional participant in the securities market may act as such trustees. An agreement must be concluded between the account custodian and the depository establishing their mutual rights and obligations.

There is another type of participants in depository relations - the operator of the "depo" account section, - this is a legal or natural person who is not a depositor on this "depo" account, but who has the right to give instructions to perform operations on one or more sections of the depositor's "depo" account on the basis of authorization received from the depositor, or under federal laws.

1.3 Mechanism for depository operations

Relations between the depositor and the depositary begin with the conclusion of the depository agreement. The subject of the depository agreement is the provision by the depositary to the depositor of services for the storage of securities certificates, accounting and certification of rights to securities by opening and maintaining a depositor's "deposit" account by the depositary, and performing operations on this account. The subject of this agreement is also the provision by the depositary of services facilitating the realization by the owners of securities of the rights to the securities they own, while the depository provides services for the storage of securities certificates, accounting and certification of rights to securities, if the securities are issued in documentary form. If securities are issued in non-documentary form, the depository provides services for accounting and certification of rights to these securities.

The depository agreement between the depositor and the depositary must be concluded in a simple written form, and the depositary is obliged to approve the terms of its depositary activities, which are an integral part of the concluded agreement. The conclusion of a depositary agreement does not entail the transfer to the depository of the ownership of the depositor's securities. Thus, the depository does not have the right to dispose of the depositor's securities, manage them or carry out on behalf of the depositor any actions with securities, except for those carried out on behalf of the depositor in cases provided for by the depository agreement, but he bears civil liability for the safety of securities certificates deposited with him papers.

The deposit agreement must contain the following essential terms:

a) definition of the subject of the contract: provision of services for the storage of securities certificates and / or accounting for rights to securities;

b) the procedure for the depositor to transfer to the depository information on the disposal of the depositor's securities deposited with the depository;

c) the duration of the contract;

d) the obligations of the depository, the amount and procedure for payment for its services;

e) the form and frequency of reporting by the depository to the depositor;

The obligations of the depository in the course of carrying out depositary activities consist in registering the facts of encumbrance of the securities of the depositor (customer of the depositary) with obligations; maintaining a separate "depo" account of the depositor (client) with the obligatory indication of the date and reason for each transaction on the account; and transfer to the depositor of all complete information about securities received by the depository from the issuer or the holder of the register of securities owners.

After the conclusion of the depository agreement, the depository performs all transactions with securities of clients (depositors), but only on behalf of these depositors or persons authorized by them, including trustees of "depo" accounts, and within the time period established by the depository agreement. The depository makes entries on the client's (depositor's) depo account only if there are primary documents that are the basis for making such entries (instruction of the depositor or a person authorized by him that meets the requirements of the depository agreement; as well as other documents confirming the transfer of rights to securities in accordance with the applicable laws and other regulatory legal acts).

For the purposes of the proper exercise by the holders of securities of the rights to the securities they own, the depositary is obliged, first of all:

▬ take all the actions stipulated by the depository agreement, necessary for the exercise of the rights of the owner under the securities;

▬ ensure proper storage of securities certificates and depositary accounting documents, the storage of which is necessary;

▬ provide the issuer or registrar with the necessary securities certificates, including redemption certificates, coupons and other income documents providing for payment upon presentation;

▬ ensure that the owners exercise the right to vote at general meetings of shareholders in the manner prescribed by the depository agreement;

▬ take all measures stipulated by the contract and the law to protect the rights of a bona fide purchaser to the securities belonging to him and to prevent the seizure of securities from a bona fide purchaser;

▬ ensure, on behalf of the client (depositor), in accordance with the concluded depository agreement, the transfer of securities to the depo accounts specified by the depositor, both in this depository and in any other depository, while transferring the client's (depositor's) securities to another depository specified by the client (depositor) is not carried out in cases when another depository cannot service this issue of securities only on legal grounds;

▬ ensure, on the instructions of the depositor, the transfer of registered securities to the personal account "depo" in the register of holders of registered securities;

▬ ensure the acceptance of securities transferred to the accounts of clients (depositors) from other depositories or directly from the registrar;

▬ ensure the acceptance of securities certificates for storage, while the depository is obliged to ensure the control of the authenticity of securities certificates accepted for storage, as well as that the deposited securities certificates are not declared invalid, stolen, not wanted, not included in the stop lists issuers, law enforcement agencies or state regulation of the securities market;

▬ take all measures provided for by federal laws and other regulatory legal acts to protect the interests of clients (depositors) in the course of the issuer's corporate actions;

▬ when the issuer compiles the lists of holders of registered securities, transfer to the issuer or registrar all information about clients (depositors) and securities of clients (depositors) necessary for exercising the rights of owners: receiving income from securities, participating in general meetings of shareholders and other similar rights ; transfer to the issuer all the information on bearer or order securities accounted for on the accounts of clients (depositors) necessary for the holders to exercise their rights under securities in the manner prescribed by law and the depository agreement, etc.

The depository shall be liable for non-fulfillment or improper fulfillment of its direct obligations to record the rights to securities, including for the completeness and correctness of entries made on depo accounts. Also, the depository may provide the depositor (client) with services related to the receipt of income from securities and other payments due to the holders of securities.

The depository is also entitled, under the concluded agreement with the depositor, to provide him with related services, for example, maintenance of cash, currency and multicurrency accounts of clients related to the conduct of transactions with securities and the receipt of income from securities; verification of securities certificates for authenticity and solvency; collection and transportation of securities certificates; withdrawal from circulation, redemption and destruction of certificates, etc.

In carrying out its activities, the depository must ensure the confidentiality of information about the "depo" accounts of the clients (depositors) of the depositary, including information about the operations performed on the accounts and other information about the clients (depositors) that became known to him in connection with the implementation of the depositary activities. In the event of disclosure of confidential information about depositors' depo accounts, clients whose rights have been violated have the right to demand compensation from the depository for damages caused in a certain manner.

Thus, information about the "depo" accounts of clients (depositors) can be provided only to the clients themselves, their authorized representatives and the licensing authority within its powers. The licensing body, within the framework of its powers, constantly monitors the activities of depositories (the depositary provides for verification - reporting on depositary operations; documents of the depositary submitted upon request; verification of activities, etc.).

If the facts of carrying out depositary activities in violation of the requirements of laws and other regulatory legal acts are revealed, the licensing authority has the right to apply sanctions and measures to such a depository provided for by laws and other regulatory legal acts, including suspending or even canceling the depositary's license as a professional participant in the securities market for depository activities.

2 Registration and accounting of depository operations in credit institutions

2.1 Analytical accounting of depository operations

All depository operations conducted by any credit institution with issuance securities must be reflected in its depositary accounting. Depositary accounting in CJSC Joint Stock Bank of the Gas Industry "Gazprombank" (hereinafter CJSC "Gazprombank") is maintained in the accounting department of this organization. Moreover, the procedure for accounting for depositary operations adopted by CJSC Gazprombank provides an excellent opportunity to generate a complete report on the status of depository accounting in accordance with the Chart of Accounts adopted by the Central Bank of Russia.

Gazprombank CJSC was established on July 31, 1990, its main shareholders are Gazprom OJSC, New Financial Technologies LLC, GAZFOND Non-State Pension Fund and Leader CJSC (Pension Fund Asset Management Company on trust management). At present, the equity capital of this credit institution is 89.4 billion rubles.

JSC "Gazprombank" is an authorized bank of JSC "Gazprom", and is one of the five largest Russian banks in all major indicators. At present, CJSC Gazprombank, in addition to the gas industry, provides banking services to enterprises and employees of other sectors of the real sector of the economy (chemical, oil and nuclear industry, mechanical engineering, defense complex, electric power industry, transport, construction, trade). The Bank's clients are about 2 million citizens, over 36,000 corporate clients, including 1,000 enterprises and organizations of the gas industry.

CJSC Gazprombank has an extensive regional network in 51 regions of the Russian Federation and in 2 foreign countries. Over 300 infrastructure points of Gazprombank CJSC are represented by: 35 Bank branches with 124 additional offices, 13 credit and cash offices and 15 operating cash desks outside the cash center, 1 representative office of Gazprombank CJSC in Kazan and 1 foreign representative office in Beijing ( PRC); 4 banks of the Interregional Banking Group of the Gas Industry, which have 19 branches, 53 additional offices and 20 operating cash desks outside the cash center, and Credit Ural Bank (OJSC), which has 3 branches, 4 additional offices, 7 operating cash desks; 1 foreign bank with 7 branches and 120 banking service points.

It should be noted that, unlike many other large Russian banks, CJSC Gazprombank went through the crisis that struck the Russian banking system in 1998 with virtually no losses. Timely settlements, fulfillment of all obligations to customers, readiness for cooperation allowed the Bank not only to maintain, but also to significantly strengthen the achieved positions. In the post-crisis period, a significant number of large Russian companies became clients of CJSC Gazprombank. For 1998-2001 the number of corporate clients of the Bank has tripled, and the Bank itself has become one of the largest universal financial institutions in Russia, providing a wide range of banking, financial, investment products and services to corporate and private clients, financial institutions, institutional and private investors.

The branch of CJSC Gazprombank in Barnaul was registered on March 6, 2004 at the address - Barnaul, st. Severo-Zapadnaya, 20. Today ZAO Gazprombank is the third bank in Russia in terms of assets and capital, and the fifth bank in Central and Eastern Europe in terms of capital. The Bank has established correspondent relations with leading foreign and Russian banks.

The depository network of CJSC Gazprombank consists of regional depositories based on the Bank's branches, correspondent depositories and their remote points. Organization, registration and accounting of depository operations in branches and in the bank itself is carried out in accordance with the procedure established by law and in accordance with the rules.

The primary documents of the subdivisions of CJSC Gazprombank, which serve as the basis for making postings on custody accounts, which account for securities owned by the Bank, as well as securities transferred by clients for trust management and brokerage operations, are orders and instructions for making depository entries submitted by an employee of the Bank's subdivision conducting such transactions with securities, who is authorized to transfer such orders to the depository. Transfer to the depository of other documents related to the securities transaction is not obligatory. It can be carried out if the management of the credit institution obliges the depository to control the activities of the division conducting transactions with securities, or if the relevant documents are transferred to the accounting department through the depository.

In order to maintain analytical accounting, the depository opens analytical depo accounts: depo accounts of depositors - passive accounts, and depo accounts of places of storage - active accounts. When opening a passive depo account, a depository agreement is concluded between the depository and the depositor, which is called the depo account agreement and contains the main rights and obligations of the parties. But such an agreement may not be concluded in the case when the depositor is the depository itself, which takes into account the securities belonging to it in its depository accounting, as well as in the case when the depositor is a branch or other division of this depository. Sometimes it is allowed to open a passive depo account with a deferred conclusion of a depository agreement, but this is possible only if this operation is carried out in favor of a third party, as well as when securities are credited in favor of a client who previously did not have a depo account with a depository, in his absence. Moreover, it is not allowed to write off securities from such an account on behalf of a depositor or his authorized representative before the conclusion of a depository agreement between them.

As regards the opening of an active depo account, it is carried out on the basis of the order of the administration of the depositary, which determines the main characteristics of the account to be opened. The opening of a depo account is not necessarily accompanied by an immediate transfer of securities to it; it is allowed to have a depo account on which no securities are accounted. When a depo account is opened, it is assigned a code that is unique within a particular depository, and the rules for encoding depo accounts are determined by each depository independently. Further, all opened depo accounts are registered in the register of depo accounts. The indicated journal consists of two sections: depositors' accounts (passive) and securities custody accounts (active). It is allowed to divide sections into subsections for the purpose of separate registration of various types of depo accounts.

It should be noted that at the initial opening of a depo account, an account questionnaire is filled out, as well as a questionnaire of an individual or legal entity, organization (depositor). In addition to the account form, the depository may issue a short account form containing the information required by the depository.

After the direct opening of depo accounts, analytical accounting of depository operations is carried out in analytical accounting registers, which are represented by personal accounts, account sections, cards and magazines. Moreover, the main task of analytical accounting of depositary operations is to reflect each operation in all details in order to have accurate data on the state of the custody account of each client, each type of property and obligations at any time. The set of accounts for analytical accounting and the procedure for recording depositary operations on them are determined by the depository independently, taking into account the requirements and regulations established by the Central Bank of the Russian Federation.

As already mentioned, one of the registers for analytical accounting of depositary operations are personal depo accounts, which are opened to record securities within the depo account. A personal depo account is the minimum indivisible structural unit for accounting depository transactions of a credit institution; it records securities of the same issue with the same set of allowable depository transactions. The opening of a personal account takes place within the framework of a depo account and does not require the conclusion of a separate agreement between the depository and the depositor. The procedure for opening personal accounts is determined by the regulations of the depository.

In subdivisions of CJSC Gazprombank, when opening a personal depo account, a registration card of the personal account is filled in for it, which is placed in the card index of personal accounts of the depo account. Also, a personal depo account is assigned a unique code within the depo account, and the coding rules are determined by the depository independently. To obtain an extended personal account code that is unique within the depository, the personal account code should be added to the code of the depo account within which the personal account was opened, while reusing the code is allowed, but only after closing this personal depo account. Each personal depo account, when opened, is uniquely compared with its corresponding synthetic depo account, on which the securities on this personal account are reflected in synthetic accounting.

The basis for making postings on personal depo accounts, which account for securities owned by the Bank, as well as securities transferred by clients for trust management and brokerage operations, are the primary documents of the Bank's divisions responsible for carrying out relevant actions with securities. These documents are drawn up on the basis of the Bank's transactions with such securities.

A personal account exists when it has a real balance of securities, which is the current state of this account. The balance of securities on a personal depo account is the number of securities accounted on it. The depositary shall have the right, simultaneously with keeping the balance on the personal account in pieces, to additionally store the amount of the balance in nominal units of the given issue of securities.

In parallel with the personal account, the credit institution maintains two journals: the operational journal of the personal depo account (see Appendix 1) and the turnover journal, which serve mainly to store information about transactions made with the personal account. The operating journal of the personal account contains information about all accounting transactions with the personal depo account, it also contains the current number of securities on the personal account. Information about administrative and informational transactions with personal depo accounts is placed in the operational journal of the depo account within which this personal depo account is opened.

In contrast to the operational journal, the turnover journal of the personal depo account (see Appendix 2) contains only the balances of securities and final turnovers on the personal account at the end of those operational days during which there was movement on this account. The subdivisions of CJSC Gazprombank carry out electronic depository accounting, which allows obtaining an operating journal and a turnover journal by selecting some records related to a personal account from depo account journals or depository journals.

It should be noted that the Bank does not allow the presence of personal accounts with a zero balance for a long period. So, personal accounts, on which there is a zero balance for more than 30 days, must be closed. When a personal account is closed, the closing date is entered in its registration card, and an entry is made in the operational journal of this account about the closure of this personal account, and both the card and the operational journal, and the journal of balances on this personal account are placed in the file cabinet of closed personal depo accounts. The next accounting register for analytical accounting of depositary operations in the subdivisions of CJSC Gazprombank are sections of the depo account. An account section is an accounting register formed by a set of personal accounts of a depo account, depositary operations with which are regulated by one document. The opening of an account section takes place within the framework of a depo account and is accompanied by the execution of a basic document regulating permissible depositary operations with personal accounts assigned to this section. Such a basic document may be an agreement between the depository and the depositor; an agreement between the depositor and a third party certified by the depository; agreement between the depository and the operator; instructions of the administration of the depositary, etc. The set of used sections of securities accounts and types of basic documents are determined by the depository independently. When a section of an account is opened, the registration card of the section is filled in for it, which is placed in the file cabinet of sections of the depo account.

When opening a section of an account, a unique code within the depo account is assigned, while within the account the section codes must not coincide with the codes of personal accounts, although the section code can be reused, but only after closing this section. All transactions with documents relating to the depo account section are recorded in the depo account operating journal; a separate operating journal of the depo account section is usually not kept in a credit institution.

When a section is closed, the date of closing is entered in its registration card, and an entry is made in the operating journal of the account about the closing of the section. The card of the closed section is placed in the card index of the closed sections of the depo account, while the section to which the unclosed personal accounts are assigned cannot be closed.

In addition to filling out the above documents, for each issue of securities, the depository of Gazprombank CJSC keeps a 9 cm securities issue questionnaire. Appendix 3), which is stored in the file of securities issues and contains information sufficient to organize the accounting of securities of this issue. Questionnaire for the issue of securities is filled in by the depository in advance or at the time of the first registration of the securities of this issue. It should be noted that it is not allowed to keep records of securities without filling out the questionnaire, while the date of acceptance of the issue of securities for servicing is the date of filling out the questionnaire.

After the redemption of all securities of the issue or if accounting for the securities of this issue is not expected in the future, the issue of securities may be withdrawn from service in the depository, while the date of withdrawal from service is indicated in the issue questionnaire and placed in the file of issues withdrawn from service. When re-accepting the same issue for servicing in the depository, a new questionnaire must be filled in for it. But the issue is not removed from service if at least one personal account contains a non-zero balance on the issue of securities.

After recording all custody transactions, securities accounts may be closed under certain mandatory conditions. Thus, an account cannot be closed, on whose personal accounts securities are registered, and the closing of a depo account with zero balances on personal accounts is carried out only upon a written instruction of the depositor. A depo account with zero balances may be closed at the initiative of the depository, if no transactions have been made with it for one year (or another long period stipulated by the depository's regulations) and such a procedure for closing depo accounts is provided for by the depository's regulations. When a depo account is closed, the closing date shall be entered in the register of depo accounts.

All analytical accounting documents of CJSC Gazprombank are stored in the depository for at least three years from the moment the document is received by the depository, the last changes are made to the card index or journal, the report is prepared or the entry is corrected. After this period, all analytical accounting materials are transferred to the archive, where they must be stored for at least another five years, but already from the moment of their direct transfer to the archive. If a depository record is changed, then the depository should provide an opportunity to receive all previous states of the record (unchanged) for the standard period of its storage.

2.2 Synthetic accounting of depositary operations and reporting of depositories

In contrast to analytical accounting, the main purpose of synthetic accounting for depository transactions in CJSC Gazprombank is the preparation of standard reports in accordance with the depo account chart. In synthetic accounting, the depository records the state of synthetic depo accounts, on which, in the context of securities issues, all securities recorded in the depository and attributed to the synthetic account in accordance with the depository's regulations are shown in total amount.

The basis of synthetic depositary accounting in JSC "Gazprombank" is the analytical accounting of securities. Thus, the initial balances on synthetic depo accounts are determined based on the balances on analytical depo accounts. Accounting for securities on synthetic depo accounts is carried out in the same way as on analytical accounts - in pieces, or it is allowed to record securities in those units in which the par value of securities of a given issue is determined, and it is also allowed to reflect the market value of securities held in the depository. At the same time, one security (one piece) is the minimum face value of circulating securities of a given issue, unless otherwise specified by the terms of issue and circulation of securities.

To maintain synthetic accounting, the depository independently establishes the rules for matching personal depo accounts of analytical accounting with depo accounts of synthetic accounting. These rules must be consistent with the purpose of synthetic depo accounts, and the recording in synthetic accounting of transactions made by the depository on analytical accounts when performing depositary operations must comply with the requirements for recording depository operations on synthetic depo accounts. To maintain a synthetic accounting of securities held in a depository, the Chart of Accounts for accounting in banks of the Russian Federation provides for a special chapter - B. Depo accounts, in accordance with which depository operations are reflected and executed on synthetic depo accounts with a depository. After the posting of depository operations on accounts, the main accounting registers of synthetic accounting are summary cards of securities issues, depository balances and turnover sheets.

Summary cards of securities issues are maintained separately for securities issues serviced in the depository, broken down by synthetic depo accounts within the issue. Summary cards (see Appendix 4) record the totals of daily turnover and balances at the beginning and end of the trading day on synthetic accounts for a given issue, grouped by asset and liability. A summary card of an issue is compiled for each issue on a daily basis, except for days for which all synthetic accounts of this issue have zero turnover. On the day the issue is accepted for service, the first summary card is filled out, and when the issue is removed from service, the last summary card is filled out, which must contain zero balances on all synthetic depo accounts at the end of the day. Consolidated cards are compiled on the basis of turnover journals of personal depo accounts.

The summary balance of the depo (see Appendix 5) is compiled on a daily basis based on the data of the summary cards of securities issues in the context of the asset and liability of the deposit for all issues of securities serviced by the Bank, with the summary results for all issues. The generalized balance sheet is an integral part of the short balance sheet and contains only totals for assets and liabilities for all issues of securities serviced by the Bank. The generalized depo balance is not drawn up and kept separately from the summary one, and in cases where the provision of a generalized balance sheet is required, it is prepared as an extract from the summary one.

Summary cards and summary depot balance must be drawn up by the beginning of the next business day. The correctness of drawing up a short depo balance is checked by the equality of the totals for the asset and liability for each issue of securities. After verifying the correctness of the balance sheet, it is signed by the employee who compiled it and the head of the Bank. On the first day of each month, according to the data of the consolidated cards in the depository, a complete balance sheet is drawn up for each issue of securities.

On a quarterly basis, according to the summary cards for each issue of securities, a turnover sheet is compiled, which contains, in the context of synthetic depo accounts with the derivation of results for assets and liabilities, balances at the beginning of the year, turnover from the beginning of the year and balances at the end of the reporting period. The summary turnover sheet contains the results obtained by summing the corresponding fields for all turnover sheets. Prior to the monthly signing of the full depository balance sheet and the quarterly signing of the summary turnover sheet, these materials must be reconciled with checklists compiled according to analytical depositary accounting and grouped by asset and liability.

To account for depositary operations, the Bank of Russia provides for the Chart of Accounts for credit institutions, in accordance with which synthetic accounting is carried out in depositories. There are two types of such accounts.

1) Active accounts: 98000 - Securities held in depository,

98010 - Securities held in the head depository,

98015 - Securities held in other depositories,

98020 - Securities in transit, being checked, being reissued,

98030 - Shortage of securities,

98035 - Securities withdrawn from the depositary.

2) Passive accounts: 98040 - Securities of owners,

98050 - Securities held by the depositary,

98053 - Securities of clients under brokerage agreements,

98055 - Securities held in trust,

98060 - Securities accepted for safekeeping from grass-roots depositories,

98065 - Securities accepted for safekeeping from other depositories,

98070 - Securities encumbered with obligations

98080 - Securities whose owners are not identified,

98090 - Securities out of circulation.

Securities on depo accounts of the depository are accounted for on a double-entry basis. Thus, each security in depositary accounting must be reflected twice: once - on the depositor's deposit account (in liabilities) and the second time - on the account of the place of storage (in assets). Accounting operations of the depository, that is, depositary operations that change the balances of securities on personal depo accounts, are carried out in two ways - by debiting or crediting the depo account. The Bank's depository operation may consist of one or more entries, each entry of the depositary changes the balances on two personal depo accounts and is recorded on a double entry basis - on the debit of one personal account and on the credit of another personal account. Elementary wiring is divided into 4 types:

1) The debit of one active (new storage location) account and the credit of another active (old storage location) account - the balance amount does not change, the transaction draws up a transfer operation - a change in the place or method of storing securities.

2) Debit of one passive account and credit of another passive personal depo account - in this case, the amount of the depo balance does not change, and the transaction formalizes the operation of transferring a security to a depo account of another owner or transferring a security to another personal depo account within the same account depot of the depositor.

3) The debit of the active account and the credit of the passive account - the amount of the balance increases, a credit transaction is executed - the acceptance of securities for storage.

4) The debit of the passive account and the credit of the active account - the amount of the balance decreases, the posting draws up an expense operation - the removal of securities from storage.

It is also allowed to carry out complex postings - when one credited account corresponds with several debited accounts or vice versa.

The logical conclusion of the depositary operation is the transfer of a report on the operation to all persons specified in the regulations for the execution of this operation as recipients of the report, and it is obligatory - the transfer of the report to the initiator of the operation. When a transaction is made with a depositor's depo account, which was not carried out on his personal initiative or on the initiative of a person authorized by him, a report on the transaction performed must be transferred to the depositor, in addition to the initiator. The order and frequency of transfer of reports to recipients is determined by the regulations of the depository and must be stipulated in the depository agreement. Transfer of reports is carried out in several ways: personally to the depositor, by proxy to an authorized person, through a PO box, by mail. The depository transaction report sent to the recipient is an official document of depository accounting and the basis for making entries in the recipient's accounting.

2.3 Procedure for registration of depository operations

The procedure for registering depositary transactions in Gazprombank's subdivisions includes: the procedure for accepting instructions, forms of reports on the execution of depositary operations, rules for recording operations in depositary accounting, intermediate stages of the execution of operations, the list of recipients of reports and other features of the execution of depositary operations. This procedure is included in the operational regulations of the depository and is determined by it independently, taking into account the requirements of the Rules for keeping records of depositary operations and other documents of the Bank of Russia regulating depositary activities in the territory of the Russian Federation.

Registration of depositary operations begins with the conclusion of a depositary agreement between the depositary and the client, which is the basis for the emergence of the rights and obligations of the client and the depositary when the depositary provides the client with services for storing securities certificates, recording and certifying rights to securities by opening and maintaining a client depo account, as well as carrying out transactions on this account. The subject of the depository agreement is also the provision by the depositary of services that facilitate the realization by the owners of securities of the rights to the securities they own. The contract is concluded in a simple written form and must contain all the essential conditions.

The basis for the execution of a depository operation is an instruction - a document signed by the initiator of the operation and submitted to the depository. Depending on the initiator of the operation, the following types of instructions are distinguished:

▬ client orders – instructions for which the initiator is a client (depositor), a person authorized by him or an account custodian;

▬ official – instructions for which the initiator is the officials of the depositary credit institution;

▬ official - instructions for which the initiator is authorized state bodies;

▬ global - instructions for which the initiator, as a rule, is the issuer or the registrar on behalf of the issuer.

Regardless of who is the initiator, the instruction for the execution of depository operations must be executed by a document in paper or electronic form, but at the same time, acceptance of documents in electronic form as instructions is allowed in the manner prescribed by the legislation of the Russian Federation or by agreement of the parties. Information on all instructions accepted by the depository must be entered in the instruction log, and information on all operations executed and being performed by the depository - in the operation log of this depository.

All materials of depository accounting in a credit institution must have one of the following forms: it is a document on paper; an electronic record recognized as a document in accordance with paragraph 2 of Art. 160 of the Civil Code of the Russian Federation in the case and in the manner prescribed by law, other legal acts or agreement of the parties; or an electronic record, the authenticity of which is confirmed by depositary accounting materials in the two forms listed above

When maintaining depository records on paper, the depository must strictly comply with the requirements for the composition and form of documents listed in the Rules for Keeping Records of Depository Operations. When using a computer in depository accounting, the depositary is obliged to ensure the possibility of viewing any of the documents on the terminal screen and obtaining a copy of it on paper if the required document on paper is not in the depository.

The depository independently chooses the form of storage of depository materials, taking into account the requirements of the Rules for keeping records of depositary operations and other regulatory documents regulating the procedure for conducting depositary activities in the Russian Federation. But regardless of the form of storage, all documents, file cabinets, journals, reporting materials and records of depository accounting must be stored in the depository for at least 3 years from the moment the document is received by the depository, the last changes are made to the card file or journal, the report is prepared or the record is corrected. Upon the expiration of this period, the materials of the depository records are transferred to the archive, where they must be stored for at least 5 years from the date of transfer to the archive. If there is a record, then the depository must provide for the possibility of obtaining all previous states of the record for the normative period of its storage.

The completion of the depository operation is the transfer of a report on its implementation to all persons indicated in the regulations for the execution of this operation as recipients of such a report. It is obligatory to transfer the report to the initiator of the operation, regardless of who he is: a depositor, a person authorized by him or an account custodian; an official of the depositary; authorized state body; issuer or registrar on behalf of the issuer. The depository transaction report sent to the recipient is an official document of the depository. The report on the execution of the transaction on the depo account is the basis for making postings in the accounting systems of the recipient of the report.

The depository activities of the subdivisions of CJSC Gazprombank, as well as the proper execution and reflection of depository operations in their accounting, are constantly monitored by state licensing authorities, which in practice usually manifests itself in the following forms:

▬ regular reporting by the depositary on depository operations in accordance with the requirements of regulatory legal acts;

▬ verification of the documents of the depositary credit institution submitted at the request of the relevant licensing authority;

▬ verification of the activities of the depository credit institution by persons authorized to do so by the licensing authority.

The licensing authority has the right, on its own initiative, to conduct inspections of the activities of the depository, in which the depositary is obliged to provide documents and necessary information related to the implementation of depository activities. In the event that the facts of carrying out depository activities in violation of the law, the licensing authority has the right to apply sanctions and measures to the subdivisions of Gazprombank CJSC, provided for by laws and regulations, incl. suspend or revoke the license of a professional participant in the securities market to carry out depositary activities.

The depositary is obliged to execute written instructions of state bodies: judicial, bodies of inquiry and preliminary investigation, which must be accompanied by relevant documents: court decision, resolution.

Conclusion

In this work, the topic was studied - "Organization, registration and accounting of depository operations in credit institutions". A specific goal was set - to reveal the content of the topic from theoretical and practical aspects, analysis of the information received. During the study, the following tasks were solved:

ü the organization of depositary operations in credit institutions was studied from the point of view of modern legislation;

ü the procedure for registration and accounting of depositary operations in credit institutions in the modern aspect in theory and practice is considered.

Based on the results of the research, conclusions can be drawn.

Custody operations are operations carried out by a bank or other credit organization as part of its depository activities.

Custody activity is the provision of services by a depository for the storage of securities certificates and / or accounting and transfer of rights to securities.

The main subjects (participants) of depository activities in the Russian Federation are depositories and depositors. A depositary is a legal entity licensed to carry out depository activities, in its activities it is guided by laws and regulations, orders, regulations and instructions of the Bank of Russia, as well as an agreement with a client. A depositor is a natural or legal person who uses the services of a depository on a contractual basis for safekeeping of securities and/or registration of rights to securities. Their relationship is formalized by a depository agreement on a depo account.

After the conclusion of the depository agreement, the depository performs all transactions with securities of clients (depositors), but only on behalf of these depositors or persons authorized by them, including trustees of "depo" accounts, and within the time period established by the depository agreement. The depository makes entries on the customer's (depositor's) depo account only if primary documents are available.

Further, all depositary operations must be reflected in its depositary accounting - synthetic and analytical, the main purpose of which is to prepare standard reports on all depositary operations performed in detail and in a more generalized form in accordance with the accepted plan of custody accounts. At the same time, the basis of synthetic accounting is the analytical accounting of securities.

The procedure for registration of depositary operations in credit institutions is included in the operational regulations of the depository and is determined by it independently, taking into account the requirements of the Rules for keeping records of depositary operations and other documents of the Bank of Russia regulating depositary activities in the Russian Federation.

One of the main conclusions of this work is that the depository activity in our country leaves much to be desired: the requirements of investors for high-quality depository services are not always fully satisfied, and the degree of development of depository technologies in the Russian Federation does not allow for a unified and high-quality level of their service. All this leads to the emergence of additional risks for investors and a decrease in confidence in the infrastructure of the stock market of the Russian Federation as a whole.

In connection with the above, as a proposal for the development of the Russian securities market is the improvement of depository activities by ensuring the safe storage of securities, prompt access to them and re-registration of property rights with minimal risk for owners. This is one of the conditions for ensuring the attractiveness of the Russian stock market for national and foreign investors. The formation of an effective depository system is a necessary condition for stimulating savings and transforming savings into investments, and ensuring the full range of investor rights.

With the help of a clearer and more thoughtful regulatory and legal regulation of depository activities, it is possible to help credit institutions of the Russian Federation ensure the safety of customer assets and the proper quality of depositary services, ensure readiness for long-term depository specialization and guarantee the optimal cost of such services, assume the possibility of access to additional services and interaction with clients in other areas.

So, the depository activities of a modern credit institution in the Russian Federation should be aimed at maximum satisfaction of the needs of depositors

List of used literature

1. The Constitution of the Russian Federation: Adopted by popular vote on December 12, 1993 [Electronic resource]. - Access mode: .

3. The Tax Code of the Russian Federation, part one of July 31, 1998 N 146-FZ, and part two of 05.08. 2000 N 117-FZ. - M.: NORMA, 2006.- 346 p.

4. On banks and banking activities: federal law of the Russian Federation of December 2, 1990 N 395-1. [Electronic resource]. Access mode: , 2007. - 236 s

21. Banking: Textbook for university students / Ed. Beloglazova G.N. - 6th ed., revised. and additional - M.: Finance and statistics, 2006. - 591 p.

22. Banking: Textbook for students of higher and secondary educational institutions / Ed. Korobovoy G.G. - M.: Jurist, 2006. - 751 p.

23. Banking: Textbook for universities / Ed. Kolesnikova V.I. – 5th ed., revised. and additional - M.: NORMA-INFRA-M, 2007. - 460 p.

24. Banking: Textbook for university students / Ed. Lavrushina O.I. - 2nd ed., revised. and additional - M.: Jurisprudence, 2007. - 667 p.

25. Bukato V.I., Golovin Yu.V. Banks and banking operations in Russia: textbook / V.I. Bukato. – M.: UNITI-DANA, 2006. – 367 p.

26. Maslenchenkov Yu.S. Banking: Textbook. / Yu.S. Maslenchenkov. - Allpravo, 2007. - 399 p. [Electronic resource]. - Access mode: .

27. Fundamentals of banking: Textbook for university students / Ed. Tagirbekova K.R. - M.: NORMA-INFRA-M, 2007. - 716 p.

28. Chelnokov V.A. Banks and banking operations: A textbook for students of higher educational institutions. / V.A. Chelnokov. - , 2007. - 272 p.

29. Http://www.gazprombank.ru/.

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FEDERAL AGENCY FOR EDUCATION

PENZA STATE PEDAGOGICAL

UNIVERSITY them. V.G. BELINSKY

Faculty of Economics, Management and Informatics

Department of Finance, Taxation and Accounting

THESIS PROJECT

on the topic: "Organization of accounting for deposits

on the example of the Penza branch of CJSC “Bank FINAM”

PENZA 2008

INTRODUCTION

CHAPTER 2. ORGANIZATION OF ACCOUNTING FOR DEPOSIT OPERATIONS IN A COMMERCIAL BANK

2.1 General characteristics of the Penza branch of CJSC "Bank FINAM"

2.2 Analysis of the state of the deposit market of the Penza region

2.3 Accounting for deposit transactions in the Penza branch of ZAO Bank FINAM

CHAPTER 3

3.1 Formation of the deposit insurance system in the Russian Federation

CONCLUSION

BIBLIOGRAPHY

APPS

INTRODUCTION

The banking system is one of the most important and integral structures of a market economy. The development of banks, commodity production and circulation proceeded in parallel and were closely intertwined. At the same time, banks, by conducting cash settlements, lending to the economy, acting as intermediaries in the redistribution of capital, significantly increase the overall efficiency of production, contribute to the growth of the productivity of social labor.

Commercial banks, like other subjects of economic relations, must have a certain amount of money in order to ensure their commercial and economic activities, i.e. resources. In modern conditions of development of the Russian economy, the problem of resource formation is of paramount importance. This is due to the fact that with the transition to a market economy, the elimination of the state monopoly on banking, the construction of a two-tier banking system, the nature of banking resources has undergone significant changes. Firstly, the national fund of banking resources has significantly narrowed, and the scope of its functioning is concentrated in the first link of the banking system - the Central Bank. Secondly, the formation of enterprises and organizations with various forms of ownership meant the emergence of new owners of temporarily free funds, independently determining the place and method of storing funds, which contributed to the creation of a market for credit resources.

The specificity of a banking institution as one of the types of commercial enterprise is that the vast majority of its resources are formed not at the expense of its own, but at the expense of borrowed funds. The possibilities of banks in raising funds are not unlimited and are regulated by the central bank in any state. A commercial bank has the ability to attract funds from enterprises, organizations, institutions, individuals and other banks in the form of deposits (deposits) and open appropriate accounts for them. Funds attracted by banks are diverse in composition. Their main types are funds raised by banks in the process of working with clients (deposits), funds accumulated by issuing their own debt obligations (deposit and savings certificates).

The most important component of the entire banking policy is the policy of forming the resource base. The formation of the resource base in the process of the bank's passive operations has historically played a primary and decisive role in relation to its active operations. The main part of banking resources, as you know, is formed in the process of conducting bank deposit operations, the effective and correct organization of which ultimately determines the stability of the functioning of any credit institution. Deposit operations characterize the sources of funds and the nature of the bank's financial relations, since they largely determine the conditions, forms and directions for the use of banking resources. In this regard, the issues of increasing the resource potential and ensuring its stability through the effective management of attracted deposits are of particular urgency and relevance.

It should be noted that the formation of the deposit policy in our country has not been given due attention. This was due to the fact that the demand for banking services significantly exceeded supply with high inflation and the availability of cheap resources - all these conditions provided a high rate of return for banking operations, changing the very nature of their risk. The decline in the rate of return and the disappearance of such traditional sources of income as interbank loans and transactions in the forward foreign exchange market made the formation of the deposit policy of commercial banks in terms of optimizing the structure of funds attracted by them and reducing interest costs on them the number one issue. The banking crisis of 1998 and the subsequent development of the Russian banking system confirmed the need to increase the role of the deposit policy of commercial banks, and, consequently, to improve it.

The subject of the study of the thesis is the system of economic relations that develop in the process of organizing deposit operations by Russian commercial banks. The object of analysis is the activity of the Penza branch of ZAO Bank FINAM.

The purpose of the thesis is to study the organization of accounting for deposits in modern conditions and develop proposals for their improvement.

To achieve this goal, it is necessary to solve a number of tasks, namely:

Consider the role of attracting funds in deposits and contribution to the formation of income of a commercial bank;

Studying the characteristics of the object of study, its organizational and legal structure, types of activities, management structure and financial condition;

Consider the organization of attracting funds from individuals in deposits;

Consider the accounting of operations on deposits in the Penza branch of ZAO Bank FINAM, assess the quality of the organization of accounting and its compliance with the requirements of legislative and regulatory documents;

Consideration of the main operations of a commercial bank;

Studying the classification of deposit operations of a commercial bank and the mechanism for their implementation;

Study of the theoretical foundations of the deposit policy of a commercial bank, its essence and principles of formation;

Development of proposals for improving the deposit guarantee system in the Russian Federation;

Identification of promising directions for optimizing the deposit operations of a commercial bank in order to strengthen its sustainability.

A credit organization is a legal entity that, in order to make a profit as the main goal of its activities, on the basis of a special permit (license) of the Central Bank of the Russian Federation, has the right to carry out banking operations provided for in the Law of the Russian Federation "On banks and banking activities in the Russian Federation" dated December 29, 2004 No. 192-FZ. The main purpose of the bank -- mediation in the movement of funds from creditors to borrowers and from sellers to buyers. In accordance with the law "On Banks and Banking Activities", Russian banks act as universal credit institutions that carry out a wide range of operations in the financial market.

CHAPTER 1. ESSENCE AND SIGNIFICANCE OF DEPOSIT OPERATIONS OF A COMMERCIAL BANK

1.1 The economic essence of deposits as a source of formation of resources of a commercial bank

A commercial bank has the ability to attract funds from enterprises, organizations, institutions, individuals and other banks in the form of deposits (deposits) and open appropriate accounts for them.

A deposit (deposit) is money (in cash or non-cash form, in national or foreign currency) transferred to the bank by its owner for storage under certain conditions. Operations related to the attraction of funds are called deposit.

For banks, deposits are the main type of their passive operations and, therefore, the main resource for conducting active lending operations. Passive operations are those operations of banks that result in an increase in funds held in passive accounts.

Passive operations play an important role for commercial banks. It is with their help that banks acquire credit resources on money markets.

There are 4 forms of passive operations of commercial banks:

Primary issue of securities;

Deductions from the bank's profit for the formation or increase of funds;

Credits and loans received from other legal entities;

deposit operations.

Passive operations allow you to attract funds to banks that are already in circulation. New resources are created by the banking system as a result of active credit operations. With the help of the first two forms of passive operations, the first large group of credit resources is created - own resources. The next two forms of passive operations create a second large group of resources - borrowed, or attracted, credit resources.

The bank's own resources are bank capital and equivalent items. The role and value of the equity capital of commercial banks has a special specificity, which differs from enterprises and organizations engaged in other types of activities in that banks cover less than 10% of the total need for funds from their own capital. Usually the state sets for banks the minimum boundary of the ratio between own and borrowed resources. In Russia, such a ratio has not been established, therefore, in different banks, the fluctuation in the ratio is very significant, but on average for banks it is approximately 1:25.

The value of the bank's own resources, first of all, is to maintain its stability. At the initial stage of the bank's creation, it is the own funds that cover the primary costs (land, buildings, equipment, salaries), without which the bank cannot start its activities. At the expense of their own resources, banks create the reserves they need. Finally, own resources are the main source of investment in long-term assets.

The main part of the banks' resources is formed by borrowed funds, which cover up to 90% of the total need for financial resources for active banking operations, primarily credit. Their role is exceptionally high. Mobilizing temporarily free funds of legal entities and individuals in the market of credit resources, commercial banks with their help satisfy the need of the national economy for additional working capital, contribute to the transformation of money into capital, and meet the needs of the population in consumer credit.

Thus, the fourth group of passive operations of banks - deposit operations, is the main one in banking practice. It reflects the activity of a commercial bank as an intermediary in the acquisition of resources in the free market of credit resources.

Deposit operations are called banks' operations to attract funds from legal entities and individuals in deposits, either for a certain period or on demand. The share of deposit operations usually accounts for up to 95% of their liabilities.

The following can act as subjects of deposit operations:

state enterprises and organizations;

government agencies;

cooperatives;

joint-stock companies;

mixed enterprises with participation of foreign capital;

public organizations and foundations;

financial and insurance companies;

investment and trust companies and funds;

individual individuals and associations of these individuals;

banks and other lending institutions.

The objects of deposit operations are deposits. They represent certain amounts of money (including the value of securities) that the subjects of deposit transactions deposit with the bank, and which, by virtue of the current procedure for conducting banking and financial transactions, settle on bank accounts for a certain time.

There are various signs of classification of deposits. Depending on the depositor, deposits are divided into deposits of individuals and legal entities. According to the economic content, deposits are usually divided into 4 groups:

– term deposits;

– demand deposits;

– savings deposits of the population;

- securities.

In turn, each of these groups is classified according to different criteria. Term deposits are classified according to their term:

Deposits with a term of up to 3 months;

Deposits with a term of 3 to 6 months;

Deposits with a term of 6 to 9 months;

Deposits with a term of 9 to 12 months;

Deposits with a term of over 12 months.

Term deposits are funds credited to deposit accounts for a strictly specified period with interest paid. The rate on them depends on the size and term of the deposit. The fact that the owner of a term deposit can dispose of it only after the expiration of the agreed period does not exclude the possibility of early receipt of his funds in the bank. However, in this case, the client's interest rate on the deposit is reduced. The Bank is interested in attracting term deposits, as they are stable and allow the Bank to dispose of depositors' funds for a long time.

Demand deposits are classified depending on the nature and ownership of funds held on accounts: funds on settlement, current, budget accounts of enterprises and organizations of different forms of ownership; funds on special accounts for the storage of various (according to their intended economic purpose) funds; own funds of enterprises intended for capital investments; funds of enterprises and organizations in settlements; balances on correspondent accounts for settlements with other banks; funds from federal and local budgets; balances on the accounts of foreign correspondent banks.

Demand deposits are placed in banks on various accounts opened by customers. They are intended for current settlements and can be fully or partially claimed at any time. Withdrawal of deposits is possible both in cash and in the form of non-cash payments.

With regular use of funds held in current accounts, customers still have certain unused balances. The presence of balances on customer accounts is associated with the settling of funds on passive accounts in commercial banks for a period of time, which is almost impossible to establish at the time they are credited to the account. These are settlement current and budget accounts of legal entities and individuals, special accounts on which target funds are stored, correspondent accounts for settlements with other banks, as well as funds in settlements. The Bank, opening an account for customers, uses the credit balances on the accounts for active credit operations.

Demand deposits are inherently unstable, which limits their use by commercial banks. For this reason, account holders are paid little or no interest. In the face of increased competition, commercial banks seek to attract customers and stimulate the growth of demand deposits by providing additional services to account holders and improving the quality of their service.

Savings deposits are classified depending on the characteristics of their storage, on the term and conditions of the deposit transaction and are divided into:

- urgent;

- winning;

- money-clothing winning;

- Youth premium;

- conditional;

- bearer;

- to current accounts;

- on demand;

- deposit, savings certificates;

- plastic cards.

A bank plastic card is a personalized payment instrument for non-cash payments. The plastic card provides the user (holder) with the possibility of non-cash payment for goods and services, as well as receiving cash in the Bank's branches and ATMs.

A feature of sales and issuance of cash on cards is that all these operations are carried out “on credit”. Goods and cash are provided to customers immediately, while funds are debited from the card account and credited to the accounts of service companies, most often after some time. The guarantor of the fulfillment of obligations arising in the process of servicing plastic cards is the issuing bank that issued them. Therefore, cards throughout the entire period of validity are the property of the bank, and customers receive them only for use.

When issuing a card to a client, it is personalized - data is entered on it that allows you to identify the card and its holder, as well as to verify the authenticity of the card when it is received. Securities as a type of deposits are divided into promissory notes circulating on the market, and deposit, savings certificates.

Each type of deposit has its own advantages and disadvantages.

Demand deposits are the most liquid. Their owners can at any time use the money on demand accounts. Features of the deposit account are as follows:

Money to this account is deposited or withdrawn both in parts and in full without restrictions;

It is allowed to take cash from this account in accordance with the procedure established by the Central Bank of the Russian Federation;

The Bank is obliged to keep a minimum reserve in the Central Bank of the Russian Federation in a larger proportion than for term deposits, depending on the term.

The main disadvantages of demand deposits are:

For their owners - the absence of payment of interest on the account (or a very small percentage);

For a bank, the need to have a higher operating reserve to maintain liquidity (because of the potential for withdrawing money from demand accounts).

Term deposit accounts have a fixed term, pay fixed interest to their holders, and are generally subject to early withdrawal restrictions. For funds held in time deposit accounts, a lower required reserve ratio is set than for demand deposits.

The advantage of time deposit accounts for customers is the high interest rate, and for the bank - the ability to maintain liquidity with a smaller operating reserve.

The disadvantage of term deposits for clients is low liquidity and the inability to use the funds on term deposit accounts for settlements and current payments, as well as for receiving cash.

Savings deposits are beneficial to banks in that they are usually long-term and, therefore, can serve as a source of long-term investments.

The disadvantages of savings deposits for banks are as follows:

The need to pay increased interest on deposits and thus reduce the margin (the difference between interest on active and passive lending operations);

The exposure of these deposits to various factors (political, economic, psychological), which increases the risk of a rapid outflow of funds from these accounts and the loss of the bank's liquidity;

The inability of the bank to renew these resources on an ongoing basis.

In countries with developed market relations, clear boundaries between certain types of deposits have recently been blurred, and accounts appear that combine the qualities of demand accounts and term deposits. So, in the USA, one of these new forms of accounts has become NAU-accounts - deposit accounts, on which the market interest rate is paid and, at the same time, settlement drafts can be issued on them, similar to checks, i.e. use these accounts for payments.

Certificates of deposit, which are a type of term deposit, have been widely developed in banking practice.

A certificate of deposit is a security that indicates that a bank has made a term deposit with a fixed term and interest rate. Those. certificate of deposit is a written certificate of the bank on the deposit of funds, which entitles the depositor to receive at the end of the established period the amount of the deposit and interest on it. The certificate of deposit is issued only to legal entities. It has two varieties - non-transferable, which are kept by the depositor and presented to the bank when they expire; and transferable, which are freely sold on the secondary money market, where the right to receive a deposit on a deposit certificate can be transferred to another person; in other words, it can be nominal and bearer.

A certificate of deposit is issued by banks at a percentage specified in the agreement for a specific period or on demand. For individuals, savings certificates issued by the bank are used, both for a fixed period and on demand.

Deposits are an important source of resources for commercial banks. Their structure in the bank is mobile and depends on the situation on the money market. This source of formation of banking resources has some disadvantages. We are talking about the significant material and monetary costs of the bank when attracting funds to deposits, the limited availability of funds within a particular region. In addition, the mobilization of funds into deposits (deposits) depends to a large extent on customers (depositors), and not on the bank itself. And yet, the competition between banks forces them to take measures to develop services that help attract deposits.

Commercial banks in the conditions of competition in the market of credit resources must constantly take care of both quantitative and qualitative improvement of their deposits. They use different methods for this (interest rate, various services and benefits to depositors). At the same time, all banks observe several fundamental principles for organizing deposit operations. They are as follows:

Deposit operations should contribute to making a profit or create conditions for making a profit in the future;

Deposit operations should be varied and conducted with different entities;

Particular attention in the process of organizing deposit operations should be paid to term deposits;

Interrelation and consistency between deposit operations and credit operations in terms of terms and amounts of deposits and credit investments should be ensured;

Organizing deposit and credit operations, the bank should strive to minimize its free resources;

The Bank should take measures to develop banking services that facilitate the attraction of deposits.

Modern economic theory considers a commercial bank as a credit institution that has the exclusive right to carry out the following banking operations in aggregate: attracting funds from individuals and legal entities to deposits, placing these funds on its own behalf and at its own expense on terms of repayment, payment, urgency, opening and maintenance of bank accounts of individuals and legal entities. The main purpose of a commercial bank is to make a profit.

1.2 Modern mechanism for conducting deposit operations

One of the oldest, traditional banking services are deposit services related to the storage of temporarily free funds of clients in bank accounts with the condition that certain interest is charged on them.

Deposit (deposit) operations of a commercial bank are operations to attract funds from legal entities and individuals in deposits for a certain period of time or on demand, as well as balances on customer settlement accounts to use them as credit resources and in investment activities.

Deposit operations are a fairly broad concept, since they include all the bank's activities related to raising funds for deposits. A feature of this group of passive operations is that the bank has relatively little control over the volume of such operations, since the initiative to place funds in deposits comes from depositors. At the same time, as practice shows, the depositor is interested not only in the interest paid by the bank, but also in the reliability of saving the funds entrusted to the bank.

The object of deposit operations are deposits. A deposit is a form of expression of the bank's credit relations with depositors regarding the provision by the latter of their own funds to the bank for temporary use. “Deposit” in Latin is a thing deposited, and, therefore, a deposit can be any bank account opened for a client in which funds are stored.

Deposit accounts are diverse and are classified:

– by sources of deposits;

- according to the intended purpose of the stored funds;

- by the level of profitability;

– by deposit currency;

- depending on the conditions for depositing, using and withdrawing funds.

The most significant are the fifth and sixth classifications.

– deposits of legal entities (enterprises, organizations, other banks);

- deposits of individuals.

Depending on the conditions for depositing, using and withdrawing funds, there are:

– demand deposits;

- time deposits (with their varieties - deposit and savings certificates);

– savings deposits of the population (Fig. 1).

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Figure 1 - Classification of deposits according to the terms of depositing, using and withdrawing funds

Demand deposits are funds that can be withdrawn at any time without prior notice to the bank by the client. As a rule, they are used for settlement transactions, much less often as savings. The initiative to open such accounts comes from the clients themselves in connection with the need to make settlements, make payments and receive funds at their disposal. The movement of funds on these accounts (receipts and debits) can be issued in cash, checks, transfers, and other settlement documents.

Demand deposits include:

Funds on settlement, current, budget and other accounts;

Funds on the bank's correspondent account opened with the RCC;

Funds on the LORO account when establishing relations with other banks;

Demand deposits.

The so-called checking account should also be referred to the number of demand deposits. A current account is a connection between a current account and a loan account. A credit balance means that the client has his own funds, a debit balance means a debt to the bank. Interest on the account balance is calculated in favor of the bank at a higher rate than in favor of the client. Checking accounts are opened to reliable clients, first-class borrowers as a sign of special trust. A certain similarity with a checking account has an overdraft account. This is an account for which, on the basis of an agreement between the client and the bank, it is allowed in a certain amount to exceed the amount of write-off on the account over the amount of the balance of funds, which means borrowing a loan. However, differences between these accounts should be taken into account. With an overdraft, unlike a current account, such borrowings are carried out from time to time and are irregular. Accordingly, a passive balance is more typical for this account. In addition, checking accounts are opened for business organizations - legal entities, while overdraft accounts can be opened for non-legal entities, as well as individuals to cover temporary gaps in the receipt and expenditure of funds.

In general, the features of demand deposits can be characterized as follows:

The deposit and withdrawal of money is carried out at any time without any restrictions;

The account holder pays the bank a commission for using the account in the form of a fixed monthly rate or as a percentage of the debit turnover on the account;

The bank pays low interest rates or does not pay at all for keeping funds on demand accounts (funds in settlements);

The bank on demand deposits allocates higher norms to the liability fund in the Central Bank of the Russian Federation.

Due to the high mobility of funds, the balance on demand accounts is extremely volatile. The owner’s ability to withdraw funds at any time or transfer them to the accounts of his counterparties in commodity transactions requires the presence in the bank’s turnover of an increased share of liquid assets (cash balances, correspondent accounts, etc.), formed by reducing less liquid, but bringing high returns on long-term assets. For these reasons, banks pay relatively low interest to owners on demand account balances, or they charge no income at all.

With the help of demand deposits, the problem of making a profit by the bank is solved, since they are the cheapest resource, and the costs of servicing settlement and current accounts of customers are minimal. In most commercial banks, demand deposits occupy the largest share in the structure of attracted funds. However, the optimal share of these funds in the bank's resources is up to 30-36%. In Russia, the share of these funds is much higher. An increase in the share of demand deposits in the financial resources of the bank reduces its interest expenses and allows you to get a higher profit from the use of these funds in banking assets. But at the same time, demand accounts are the most unpredictable element of liabilities. And here an important task of management is to determine the optimal structure of the bank's deposit base.

In second place in terms of importance for banks are term deposits, as they are stable and allow the bank to have depositors' funds for a long time. Term deposits - deposits attracted by the bank for a certain period. Term deposits imply the transfer of funds to the full disposal of the bank for a period and on the terms of the agreement, and after this period the term deposit can be withdrawn by the owner at any time. The amount of remuneration paid to the client depends on the term and amount of the deposit. As a rule, the longer the terms and (or) the larger the amount of the deposit, the higher the interest rate on the deposit and, consequently, the amount of remuneration.

Term deposits are not used to make current payments. The amount of the term deposit must be unchanged during the entire term of the agreement (an exception may be a type of term deposit - a term deposit with additional contributions). If the depositor wishes to change the fate of the deposit (reduce or increase) or demand the return of the invested funds before the expiration of the deposit agreement, then he can terminate the concluded agreement, withdraw or re-register his deposit on new terms. However, in case of early withdrawal by the depositor of funds, he may lose the interest provided for by the agreement in part or in full. As a rule, in this case, the interest is burned up to the amount of interest paid on the demand deposit.

Term deposits in banks are divided by term:

Up to 30 days;

31 to 90 days;

91 to 180 days;

From 181 days to 1 year;

From 1 year to 3 years;

Over 3 years.

In addition, there are two forms of term deposits:

Term deposit in the strict sense of the word;

Term deposit with prior notice of withdrawal, including early. In this case, banks require the account holder to submit a special notice of intent to withdraw funds. The deadline for submitting such an application is agreed in advance, taking into account this period, the interest rate for the deposit is also set; the specified period can vary from a week to several months, depending on the term and size of the deposit.

The advantage of term deposit accounts for the client is to receive a high interest, and for the bank - the ability to maintain liquidity with a smaller operating reserve. The disadvantage of term deposit accounts for clients is low liquidity. For the bank, the disadvantage is the need to pay increased interest on deposits and thus reduce the interest margin.

A variety of term deposits are deposit and savings certificates. The certificate is a written certificate of the issuing bank on the deposit of funds, certifying the right of the depositor or his successor to receive, after the expiration of the established period, the amount of the deposit and the interest stipulated in the certificate in the bank that issued the certificate, or in any of its branches.

Deposit certificates are issued only to legal entities, while savings certificates are used for individuals. Certificates are issued both in a single order and in series, and are also nominal and bearer. They cannot serve as a settlement or means of payment for goods sold or services rendered. Cash settlements for the purchase and sale of certificates of deposit, payments of amounts on them are made in a cashless manner, and savings certificates - both in a cashless manner and in cash. Certificates must be current. The term of circulation for certificates of deposit (from the date of issuance of the certificate to the date when the owner of the certificate receives the right to demand a deposit under the certificate) is limited to one year. The term of circulation of savings certificates is limited to three years.

The owner of the certificate may assign the right to claim the certificate to another person. For a bearer certificate, this assignment is carried out by simple delivery, for a nominal one, it is drawn up on the reverse side of the certificate by a bilateral agreement. Name certificates can be transferred by the owner to another person by means of an endorsement (cession). When the deadline for claiming money amounts comes, the owner of the certificate must present it to the bank along with an application containing an indication of the method of redeeming the certificate.

Interest rates on certificates are established by the authorized body of the credit institution. Interest at the rate originally set when issuing the certificate, due to the owner after the expiration of the circulation period, is paid by the credit institution, regardless of the time of its purchase. In case of early presentation of a savings (deposit) certificate for payment, the credit institution shall pay the amount of the deposit and interest at the rates of demand deposits, unless the terms of the certificate stipulate a different amount of interest.

If the deadline for receiving the deposit under the certificate is overdue, then the credit institution is obliged to pay the deposit and interest amounts indicated in the certificate at the first request of its owner. For the period from the date of claiming amounts under the certificate to the date of actual presentation of the certificate for payment, no interest is paid.

A credit institution cannot unilaterally change (reduce or increase) the interest rate stipulated in the certificate, which was established when the certificate was issued. Payment of interest on the certificate is carried out by the credit institution simultaneously with the redemption of the certificate upon its presentation.

A special group is bank savings deposits opened by individuals. They are divided into contributions:

Poste restante;

Urgent, including:

Urgent with additional contributions;

winning;

Cash and clothing winning;

Target;

Conditional;

With advance payments, etc.

They are deposited and withdrawn in full or in part and are certified by the issuance of a savings book. These can be deposits, the payment of which is timed to coincide with the vacation period, birthdays, new year, etc. Savings deposits include deposits formed for the purpose of accumulating or maintaining monetary savings. They are characterized by a specific motivation for the emergence - the encouragement of thrift, the accumulation of targeted funds and a high level of profitability, although lower than on term deposits. Savings deposits have their advantages and disadvantages for banks. The significance of savings deposits for banks lies in the fact that with their help unused incomes of the population are mobilized and converted into productive capital. The disadvantages for banks are the need to pay increased interest on deposits and the exposure of these deposits to economic, political, psychological factors, which increases the risk of a rapid outflow of funds from these accounts and the loss of liquidity by the bank.

In foreign practice, the classification of commercial bank deposits is somewhat different from that presented above. It includes:

Check (transactional) deposits;

Savings deposits;

Term deposits.

Check (transactional) deposits - accounts that give the right to depositors to issue a check subject to mandatory redemption, are intended for settlement transactions.

Checkable deposits have the following main forms:

Demand deposits are checkable deposits on which no explicit interest is paid. It is possible to pay implicit interest due to the reduction or complete absence of commission fees charged for settlement transactions, which is used to attract depositors in the conditions of banking competition;

Auto-clearing accounts - the bank transfers any excess funds with the consent (but without the required notice) of the client from a regular demand deposit to accounts that earn interest or in repurchase agreements. At the same time, the bank and the client determine in advance the minimum amount of funds to be transferred;

Compensation balance - the balance on demand account, which banks may require to maintain to pay for their services, sometimes represents part of the interest payments on a bank loan;

NAU - accounts (eng. NOW - negotiable order of withdrawal) - checking deposits on which interest income is paid; according to it, the bank has the right to require prior notification of the withdrawal of funds by the client. Open to individuals and non-profit organizations;

SuperNAU accounts - NAU-accounts with a floating interest rate;

SAPS (accounts for automatic transfer of funds) - a type of deposits that allows you to automatically transfer funds from savings accounts to cover an overdraft on checking deposits or to maintain a compensatory balance;

LORO accounts of correspondent banks.

Savings deposits - designed to attract funds from clients who wish to save money in anticipation of future expenses or the need for financial resources. These include:

Savings book accounts are non-checkable deposits that can be withdrawn at any time upon presentation of the savings book. Banks are legally entitled to require advance notice of withdrawals, but generally do not use it. In some cases, banks charge a special fee for private withdrawals from a deposit (for example, more than 3 times a month);

Accounts with a statement of the state of the savings deposit - are used without the use of savings books, so the client gets the opportunity to deposit or receive money through the mail without visiting the bank;

Money market deposit accounts - demand deposits with a floating interest rate and a limited number of transfers and withdrawals from the account. Interest rates are adjusted weekly. Initially, these accounts were required to maintain a minimum

remainder, this requirement was subsequently abolished. No prior notice is required for transactions. Open for both individuals and companies. More often used for savings than for settlement transactions;

Demand bills issued for the US State Treasury - commercial bank bills with a floating interest rate, which are issued against Treasury funds (transferred taxes and social security payments) held in this bank.

Term deposits - savings deposits, which have a fixed term. This type of deposits is divided into:

Small term deposits;

Deposit certificates - deposits with a minimum amount; are transferable and non-transferable, fixed-rate and floating-rate pegged to government securities;

An Individual Retirement Account is a special tax-advantaged savings or term account designed to provide the employed with retirement income. Withdrawal before the established retirement age is not permitted without the payment of a fine. Upon reaching retirement age, this deposit becomes similar to a savings deposit.

For registration of deposit transactions, the following are used: a personal account, a deposit agreement, a savings book, a settlement and check book, receipts, cash receipts, an instruction from the depositor to write off the amount, a notice to subsequent control, an application for the transfer of a deposit, a register for recording applications, a registration book lost passbooks.

Opening a bank deposit is carried out when the client provides an identity document. When opening a deposit, a bank employee identifies the depositor (depositor), makes copies of identification documents, fills out a personal account card and draws up a bank deposit agreement or a deposit agreement

(Appendix 1). In confirmation of the receipt and issuance of funds on the deposit, the depositor is issued an incoming cash order, and when credited by bank transfer, a copy of the payment order. At the request of the depositor, an extract on the state of the bank deposit account is issued.

All deposit operations are performed upon presentation by the person making the operation of an identity document, a bank deposit agreement and a power of attorney of the representative (if any), issued by the depositor (Appendix 2). When a representative contacts the bank for the first time, the bank employee identifies the representative, makes copies of documents proving his identity. When closing the deposit, the client submits to the bank a deposit agreement and a deposit book, which must be redeemed. The Bank pays the depositor the amount of the deposit and interest accrued in accordance with the terms of the agreement.

Thus, deposits are an important source of resources for commercial banks. Their structure in the bank is mobile and made dependent on the money market conditions. However, this source of formation of banking resources has some disadvantages. First of all, we are talking about the significant material and monetary costs of the bank when attracting funds to deposits, the limited availability of funds within a particular region. In addition, the mobilization of funds for deposits depends to a large extent on the clients, and not on the bank itself. And, nevertheless, the competition between banks in the market of credit resources forces them to take measures to develop services that help attract deposits.

1.3 The role of the deposit policy of a commercial bank

In order to attract resources for their activities, it is important for commercial banks to develop a concept of a deposit policy, based on the goals and objectives of a commercial bank, enshrined in the charter, to maximize profits and the need to maintain bank liquidity, taking into account all types of risks. Under the deposit policy should be understood as a set of activities of a commercial bank aimed at determining the forms, tasks, content of banking activities for the formation of banking resources, their planning and regulation. The deposit policy should, first of all, meet the following requirements:

- economic expediency;

– competitiveness;

– internal consistency.

Economic feasibility here is understood as the profitability of using the attracted resources of the population. When calculating the relative efficiency of attracting deposit resources of individuals, it is necessary to take into account both the costs associated with them, including reserve allocations, the uncertain degree of their liquidity, and clear benefits.

The system of interest rates on deposits should be oriented to market conditions. Thus, a bank that keeps rates at a lower level than competitors close to it in terms of reliability risks losing part of its clientele.

As for the internal consistency of the deposit policy, it can be considered in several aspects. This is the term structure of deposit rates, and their differentiation by amounts, types of deposits in comparison with other comparable instruments of the same bank (certificates, promissory notes), as well as by various categories of clientele (for example, for individuals and legal entities).

Exploring the essence of the deposit policy of commercial banks, it is necessary to define such concepts as: subjects, objects of the deposit policy and the principles of its formation. The composition of the subjects of the deposit policy of a commercial bank includes the bank's customers, bank management bodies and government agencies. The objects of the deposit policy include attracted funds and additional services of the bank (comprehensive service).

The formation of the deposit policy of a commercial bank is based on both general and specific principles. Under the general principles of the deposit policy are understood the principles that are common both for the state monetary policy of the Central Bank of the Russian Federation, carried out at the macroeconomic level, and for the policy at the level of each specific commercial bank. These include the principles of an integrated approach, scientific validity, optimality and efficiency, as well as the unity of all elements of the bank's deposit policy. An integrated approach is expressed both in the development of theoretical foundations, priority areas of the bank's deposit policy in terms of its development strategy, and in determining the most effective and optimal tactics and methods for its implementation for a given stage of bank development. The specific principles of the deposit policy include the principles of ensuring the optimal level of bank costs, security of deposit operations, reliability, since the bank, by accumulating temporarily free funds for the purpose of their subsequent placement, seeks to receive income not at any cost, but taking into account the realities of the market in which he carries out his work. Compliance with the above principles allows the bank to form both strategic and tactical directions in the organization of the deposit process, thereby ensuring the efficiency and optimization of its deposit policy.

Considering the deposit policy of the bank as one of the elements of the banking policy as a whole, it is necessary to proceed from the fact that the main goal of the deposit policy is to attract as much money as possible at the lowest price. Successful implementation of this multifaceted goal of the bank's deposit policy involves solving such tasks as:

– assistance in the process of conducting deposit operations in obtaining profit by the bank and maintaining the required level of bank liquidity;

– ensuring the diversification of subjects of deposit operations and a combination of different forms of deposits;

– maintaining the relationship and mutual consistency between deposit operations and operations for issuing loans in terms of amounts and terms of deposits and credit investments;

– pursuing a flexible interest rate policy;

– constant search for ways and means to reduce interest costs on attracted resources;

– development of banking services and improvement of the quality and culture of customer service.

The effective implementation of these tasks largely depends on the features of the functioning of the deposit policy formation model, which can be represented as the following scheme (Fig. 2):

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Figure 2 - Model of formation of the deposit policy

The first stage of the presented model determines the strategy of a commercial bank in the field of attracting resources. The second stage reflects the subsequent directions of the bank's tactics in matters of managing deposit operations on the part of the bank's staff. The third stage details specific operations of the bank and approaches to the organization of the deposit process at various stages of the implementation of the bank's deposit agreement with the client. Fourth - provides for a system of measures to control and manage the deposit process. Each of these stages of the formation of the deposit policy of a commercial bank is directly related to the others and is mandatory for the formation of an optimal deposit policy and the correct organization of the deposit process.

The process of forming a deposit policy is closely related to the bank's interest rate policy, since the deposit interest is an effective tool in the field of attracting resources (the amount of income on invested funds serves as a significant incentive for clients to place their temporarily free funds in deposits). At the same time, the optimal interest rate policy of the bank should be based on the observance of a number of principles. Among them, first of all, it is necessary to name the principle of differentiation of interest depending on the period of storage and the size of savings, the principle of "social" differentiation of interest on deposits, the principle of ensuring the profitability of banking activities and the principle of preserving and protecting the savings of depositors. When forming an effective interest and deposit policy of a bank, a combination of all these principles is required.

At the time of state regulation, interest limits were set by law in accordance with the term of the deposit, and now banks can independently set competitive interest rates, focusing on the discount rate of the Central Bank of the Russian Federation, the state of the money market and based on the developed concept of deposit policy.

The determining factor in setting the interest rate on term deposits is the term for which funds are placed: the longer the term, the higher the interest rate. An equally important factor is the amount of the deposit, and, therefore, the larger the amount of the deposit and the longer the term of storage, the higher the interest rate on it. An important point is the frequency of payments of income on deposits. The interest rate on the deposit is inversely related to the frequency of income payments, i.e. the less often they are carried out, the higher the level of the interest rate set by the bank on the deposit.

Payment by the bank of interest on deposits is the main part of operating expenses. Therefore, the bank, on the one hand, is not interested in a high level of interest rates, and on the other hand, it is forced to maintain such a level of interest rates on deposits that would be attractive to customers. Trying to attract deposits, especially of large size and for a long period, commercial banks offer high interest rates to their customers, despite the growth in interest costs. However, the attraction of funds from the population by banks is not unlimited.

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