Bank "Opening" can be nationalized
Bank FK "Opening" emerging from a record outflow of client money, may be nationalized.
This can be used to Fund the consolidation of the banking sector and Institute with a capital of 1.5 billion rubles established by the Central Bank to replace the role of the main Bank rehabilitation of banks the Agency on insurance of contributions.
On Friday has informed "Vedomosti" with reference to the four Gorbaciov, and sources close to the Central Bank and the "Discovery".
Once under the control of the Fund, the Bank will be able to pass the procedure of recovery and recapitalization of the Central Bank money, and then can be sold to a new owner at a public auction. This scheme laid in the recovery act, which entered into force on 16 June.
Decided not to recognize the sources of "Vedomosti", adding, however, that the likelihood of this scenario is high.
The main shareholder of "FC Opening" Vadim Belyaev is denied: the negotiations on the transfer of the Bank to Fund the consolidation of the Central Bank there, he said.
"Discovery" until August, which had the status of the largest private Bank of Russia, already actively receiving money of the Central Bank. In July, the Bank took the regulator 333 billion roubles in the framework of repo transactions to cover the outflow of deposits, and in August, the regulator started to pour money in the Bank without any security, previously reported sources of "Vedomosti".
Unsecured loan Opening up was the first step of the Central Bank since the 2008 crisis. Probably "Opening" just exhausted the supply of bonds that could be used as collateral, said Fitch analyst Alexander Danilov: on August 1, of such securities remains at 130 billion rubles.
A steep dive of the Bank included in the top 10 in terms of assets and the amount of the deposits began after receiving a rating from the credit rating Analytical Agency. In July, citing "weak" quality of credit portfolio, where 15% of loans past due and not serviced, and 20% are classified as doubtful and high cost of risk and lower margin, ACRA evaluate the creditworthiness of "Opening" on the level "BBB-".
Ratings of ACRE became normative for the Ministry of Finance and the Central Bank on July 14 and received a "Discovery" of the ranking was one notch below what is required to work with money budget and the inclusion of its bonds into the Lombard list of the Central Bank.
Following the regulations, the Bank of Russia stopped lending to holders of securities of "Open" in the framework of REPO operations, and government agencies began withdrawing money from the Bank. Two months leaked one third of all deposits - more than 700 billion rubles, of which 35 billion - deposits of the population.
The outflow was planned, and liquidity ratios of the Bank are performed, TASS said the managing Director of the Bank Anatoly Baptist.
According to the Fitch rating, August 1 liquid assets "Discovery" covered about 20% of its debts to customers.
The fact that the Bank began financing through the Central Bank, will lead him to losses: credit controller significantly more expensive than deposits, or business, says the expert of "Expert RA" Yuri Belikov.
In addition, 40% reduction in the loan portfolio, which generated interest income, and due to the loss of short-term liquidity dramatic fall of the income from transactions with derivatives and currency, which brought the Bank up to 10 billion rubles in the quarter.
"If the current trends it is likely to generate loss of $ 5-9 billion in the quarter," says Belikov, noting that much will depend on the dynamics of creating reserves.
To prevent the collapse of the "Discovery" of the Central Bank can not, says the source finanz in the banking market: the social consequences will be enormous, and in addition, the Bank is closely associated with three banks from top-15 bonds to each other they take into account in equity, and if the "falling" one, followed by everyone else.
Bank FK "Opening" emerging from a record outflow of client money, may be nationalized.
This can be used to Fund the consolidation of the banking sector and Institute with a capital of 1.5 billion rubles established by the Central Bank to replace the role of the main Bank rehabilitation of banks the Agency on insurance of contributions.
On Friday has informed "Vedomosti" with reference to the four Gorbaciov, and sources close to the Central Bank and the "Discovery".
Once under the control of the Fund, the Bank will be able to pass the procedure of recovery and recapitalization of the Central Bank money, and then can be sold to a new owner at a public auction. This scheme laid in the recovery act, which entered into force on 16 June.
Decided not to recognize the sources of "Vedomosti", adding, however, that the likelihood of this scenario is high.
The main shareholder of "FC Opening" Vadim Belyaev is denied: the negotiations on the transfer of the Bank to Fund the consolidation of the Central Bank there, he said.
"Discovery" until August, which had the status of the largest private Bank of Russia, already actively receiving money of the Central Bank. In July, the Bank took the regulator 333 billion roubles in the framework of repo transactions to cover the outflow of deposits, and in August, the regulator started to pour money in the Bank without any security, previously reported sources of "Vedomosti".
Unsecured loan Opening up was the first step of the Central Bank since the 2008 crisis. Probably "Opening" just exhausted the supply of bonds that could be used as collateral, said Fitch analyst Alexander Danilov: on August 1, of such securities remains at 130 billion rubles.
A steep dive of the Bank included in the top 10 in terms of assets and the amount of the deposits began after receiving a rating from the credit rating Analytical Agency. In July, citing "weak" quality of credit portfolio, where 15% of loans past due and not serviced, and 20% are classified as doubtful and high cost of risk and lower margin, ACRA evaluate the creditworthiness of "Opening" on the level "BBB-".
Ratings of ACRE became normative for the Ministry of Finance and the Central Bank on July 14 and received a "Discovery" of the ranking was one notch below what is required to work with money budget and the inclusion of its bonds into the Lombard list of the Central Bank.
Following the regulations, the Bank of Russia stopped lending to holders of securities of "Open" in the framework of REPO operations, and government agencies began withdrawing money from the Bank. Two months leaked one third of all deposits - more than 700 billion rubles, of which 35 billion - deposits of the population.
The outflow was planned, and liquidity ratios of the Bank are performed, TASS said the managing Director of the Bank Anatoly Baptist.
According to the Fitch rating, August 1 liquid assets "Discovery" covered about 20% of its debts to customers.
The fact that the Bank began financing through the Central Bank, will lead him to losses: credit controller significantly more expensive than deposits, or business, says the expert of "Expert RA" Yuri Belikov.
In addition, 40% reduction in the loan portfolio, which generated interest income, and due to the loss of short-term liquidity dramatic fall of the income from transactions with derivatives and currency, which brought the Bank up to 10 billion rubles in the quarter.
"If the current trends it is likely to generate loss of $ 5-9 billion in the quarter," says Belikov, noting that much will depend on the dynamics of creating reserves.
To prevent the collapse of the "Discovery" of the Central Bank can not, says the source finanz in the banking market: the social consequences will be enormous, and in addition, the Bank is closely associated with three banks from top-15 bonds to each other they take into account in equity, and if the "falling" one, followed by everyone else.
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