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Business / Finance

Fast and contactless: the main financial surprises of the year monitoring of the banking press 02.12.2019 at 05:50

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Russian financial system increasingly goes online. The controller launches new services and systems that only work with networks and gadgets.

For those who are accustomed to use the Internet and are not released from the hands of the smartphone, it is convenient, others will have to get used to. However, the Bank of Russia continues to do the usual things. For example, closing bad banks (from 1 January to 1 October this year, the number of credit institutions decreased from 454 to 484) and improving various regulations, standards and rules, including those relating to each customer of the Bank. "RG" has made a rating of the major events in the banking sector in 2019.

Payments by number and code

In January of this year, the Central Bank launched a System of quick payments (SBP). It allows individuals to make instant transfers by mobile phone number to any Bank party system. Now it is connected to 29 banks, including systemically significant such as VTB, "Alfa-Bank", Gazprombank, Rosselkhozbank, and others.

unless there's Sberbank, which has its own system of quick payments. Because Sberbank have joined SBP prior to October 1, he was fined. And maybe he won't be the last, as the head of the Bank German Gref said that the credit organization will not be able to connect to the system until the end of the year.

While the Central Bank deal with the Bank in SBP soon fully earns a new service — payment for goods and services via mobile phone by scanning the QR code. Speaking in the Duma on 20 November, the Chairman of the Bank of Russia Elvira Nabiullina said that this service is now being tested. "Rates in the SBP is 2-3 times lower acquiring rates, and the equipment for receiving payments is available. This reduces costs, preserves the attractiveness of non-cash payments (remember: high Commission acquiring business had often complained)", she said.

Turn data.

This year was the first full year of operation of a Single biometric system, which has been launched by the Central Bank and Rostelecom. Biometrics (photo and recording voice) allows banks to carry out remote identification of customers and transactions. The EBS is already connected to over 180 banks with more than 10 thousands of offices, told "RG" the head of the Duma Committee on financial markets Anatoly Aksakov. But while their data there, "rented" about 30 thousand people, he said.

to stimulate the project, the Bank also plans to provide banks with special benefits. So. they will be able to create reserves for unsecured loans to a lesser extent, when using biometrics. In addition, the possibility of implementing remote authentication in the system of quick payments. Data collection connect the MFC and the branches of "Mail of Russia". In the past, to work with clients will be a "Post Bank". While biometrics will be available only in the offices of the so-called new format, which only a few hundred pieces. Some banks are considering lowering interest rates on loans for clients that use remote authentication.

In the future, biometrics will go on "bioequity" when shopping in the store does not need a smartphone or plastic card, and are read by the scanners of biometric data and codes on the products, so you can simply take the goods and leave, the money will be written off automatically. A similar system, allowing to pay for travel without purchasing a ticket without using a credit card, is already being tested in the Moscow metro.

Rate down

the Bank of Russia again began to reduce the key rate, although last year ended it increased by 25 percentage points to 7.75% per annum. The regulator had forecast the acceleration of inflation due to the increase in VAT from 18% to 20% from 1 January 2019. At this level the rate was kept until June, when it became clear that the pace of price growth has been less dramatic. Since the rate was lowered four times. On 25 October, the Board of Directors of the Central Bank lowered it from 50 percentage points to 6.5% per annum.

"On the short-term disinflationary risks outweigh proinflationary. In these circumstances, the Bank of Russia lowered the forecast of annual inflation by the end of 2019 from 4.0 to 4.5 to 3.2-3.7 per cent. Given the ongoing monetary policy annual inflation of 3.5-4.0% by the end of 2020 and will remain close to 4% in the future," said the regulator.

the Reduction of the key rate sets a new benchmark for all rates in the banking sector. According to the Bank, weighted average interest rates on loans to natural persons up to one year (excluding Sberbank) from September last year to September this year dropped from 18.19 percent to 13.75. Short-term loans to non-financial institutions fell over the same period from 9.09 to 8.28 percent. Mortgage rates once reached a local peak of 10.55 per cent on may 1 this year, began to move down and up on 1 October of 9.68%. If the Central Bank will keep the key rate at the current level, while inflation will remain in the forward-looking framework, the loans will continue to become cheaper next year.

the Money

Announced last year, some banks and trade networks experiment for the removal of cash in cash desks of shops, finally earned. Payment systems, banks and retailers now offer this service. Money can be withdrawn when making a purchase at the store, usually, the cashier will issue a sum of multiples of 100 rubles and no more than 5 thousand rubles. The next stage of development of the service, the possibility of payment at the checkout utilities-receipts and mobile communications.

While the service was not "pervasive" and required for all outlets and banks, but the scope of application is constantly increasing. It is especially relevant for remote areas, where there is a shop, but sometimes where there is no ATM and the Bank branches. But in a big city it is convenient, after all, cash is still widely used. Although, as noted Elvira Nabiullina, if five years ago to cashless payments accounted for only 30 percent of the transactions, and no one believed that the trend will change, now the reverse proportion — 65 per cent of non-cash transactions and 35 percent for cash payments.

the Borrower has limited load

From October 1 this year, the Central Bank ordered banks and microfinance institutions to calculate the indicator of the debt burden of borrowers (PD) in deciding on granting a loan of 10 thousand rubles. It is proposed to consider this: the ratio of monthly payments to the borrower for all loans to his monthly income. TSB also recommended that banks and MFOs to inform the borrower of the value of its increased debt load.

Formally, the regulator has banned lenders to lend to those who have a high level of PD, but banks will now have to form additional reserves of capital when lending to borrowers with a PD of more than 50 percent. It is not profitable, and thus loans with high risk will be less, will decrease the rate of growth of unsecured consumer loans, and, ultimately, the debt load of the population must cease to grow.

the Central Bank has already reported the first results. According to him, a net increase of the portfolio of loans to individuals in October was minimal in the current year and amounted to 0.9 percent. The regulator notes that this includes, "probably related to the introduction from 1 October 2019 allowances for risk ratios for unsecured consumer loans depending on the debt load of the borrower, a decrease in risk appetite of banks on the background of some deterioration in the quality of these loans". But for 9 months the rate of growth of the portfolio of unsecured consumer lending are still high, at plus 17.5 percent.

MFI has selected a mortgage

Of the other important innovation is to distinguish introduced from 1 October, the ban on the sale of mortgage loans non creditors, i.e. those outside the sphere of supervision of the Central Bank. And November 1, a microfinance institution can no longer provide the citizens of loans secured by collateral of housing, even if it is not the only one. Loans secured on real estate in MFIs while you can take.

"the Introduction of such a ban will allow the Parliament to separate the activities of MFIs on the issue of consumer loans from illegal activities of fraudsters engaged in fraudulent housing, which is often mistaken for MFIs", — says the regulator.

in January-September, the portfolio of mortgage housing loans increased by 13 percent to 7.4 trillion rubles, according to the Central Bank. It was issued 889 thousand new loans amounting to 2 trillion rubles. The regulator says the increase in the average size of a mortgage loan that "is also connected with the growth in property prices".