International experience of depositary services and prospects for their use in Kazakhstan
Over the last decade in banking services in industrialized countries, both in terms of deposit services to corporate clients and the market depository services to the people there were a lot of changes. Current trends of globalization and the concentration of banking capital, the decline in profitability of traditional banking operations, commitment to the universalization of the largest banks stimulate the development of new banking services and technologies.
A foreign banking practice in recent years suggests that banks that provide customers with a variety of high quality services usually have an advantage over banks with a limited set of services. A growing number of large foreign banks go to the full service of its clientele, that is, in addition to traditional services banks provide to their clients a range of other services designed to meet the specific needs of each client. Individual investors in addition to deposit banks and credit operations offer a wide range of services, including management of financial assets, maintenance of utility bills, various types of consumer credit and other In Western Europe and North America, nearly all lending institutions - from universal banks (eg Germany) up specialized savings institutions (savings and loan associations in the U.S., mutual savings banks in the UK and savings banks in other countries) - perform all sorts of services and provide various kinds of banking products to individual, or so-called retail customers. Top savings accounts of banks in developed countries. Savings accounts of the capital market (capital market saving accounts) are widely distributed in the practice of commercial banks in developed market economies, and suggest long-term storage of client funds, as well as providing it with the constant possibility to withdraw their savings account at any time (similar to demand deposits .)The name of the savings accounts of the capital market were due to the fact that the interest rate on such accounts is established based on the average interest on government bonds in the country (usually a bond for a period of 3 to 10 years). As the formation of capital markets in Kazakhstan, such accounts can be very attractive to bank customers who receive income from them is equal to income from government securities. Experience of Western commercial banks shows improved customer confidence in the bank and the active placement of temporarily free funds in these accounts. Student Accounts (students account) were almost ubiquitous in all industrialized countries. They are opened by commercial banks only to students of higher educational establishments and are kind of a combination of two accounts: current and savings, to which students transferred and appointed by the state grant. Maintaining such accounts is profitable for banks receiving significant additional funds, and for the accounting staff of higher educational institutions as exempt them from having to perform time-consuming calculations and payment of stipends to students. In addition, certain benefits are also students from keeping their money in these accounts (mainly due to the ease of calculation and made access to credit). Feature of the functioning of the above accounts and change them, in our view, particularly relevant to commercial banks of Kazakhstan in the light of the June 7, 1999 Republic of Kazakhstan Law "On education", as well as resolutions of the Government of the Republic of Kazakhstan dated April 24, 1999 ¹ 464 "On the new model formation of student body of public higher education institutions of the Republic of Kazakhstan. »However, even today, no commercial bank in Kazakhstan is not conducted market research and offered no banking innovations in this area of care and student lending. "Automatic" savings accounts, commercial banks of developed countries open only to those individuals who have a current (settlement) account in the bank. They are analogous to time deposits (deposits), which regularly (automatically) as directed by the Bank carries out client transfers money from his settlement (current) accounts for the balance on it is charged a much higher percentage than the current account. Transfer to a client in this regard is 3-4 times a month on certain numbers. The analogue of these accounts can be called as proposed in 1978 by "Merrill Lynch" original banking service, immediately gained recognition in the business world - from a cash management. When you open such an account offers a package of services at once (the right to check-writing, lending a certain amount, debit cards, brokerage services, etc.). In this case, among other services to its innovative nature of the service stood for automatic transfer of funds transferred to the accounts of the AGR (cash managment account) in the form of dividends and interest on the account, interest-bearing /20/.
Also in 1978 the banks began to use ATS-account (automatik transfer service) - automatic account transfers. For ATS-saver accounts earn interest. And in case the need to maintain an appropriate balance in checking account overdraft, or cover the pot with the consent of the client implemented the automatic transfer of funds from the ATS-account deposits. Because of this, ATS-bill received wide recognition among retail customers as well as provides opportunity to the investor by maintaining a minimum balance in the checking account at the same time to earn income as a percentage of their ATS-account.
The use of "automatic" savings accounts can be used in the practice of domestic banks when a customer having a current (current) account in a particular commercial bank, concludes a contract with him of acceptance of sums of money (for example, over a certain residue) from the settlement to "automatic" savings account with charging higher interest. Savings accounts for wealthy clients (fortune saving account) is used in the practice of Western banks are usually clients who invest their money in real estate and securities.The peculiar name of such accounts due to the fact that the mode of their use implies a relatively high initial deposit to open an account at a low fee when withdrawing large sums of money. In addition, when purchasing real estate client or investments in securities of the bank does not charge any commission. In our country the introduction of these types of accounts is likely to be attractive at least in terms of maintaining the prestige of certain segments of the population. Account for the purchase of precious metals (precious metals accounts) are widely used by commercial banks of developed countries with regard to clients interested in buying and selling of various precious metals (gold, silver, platinum, palladium, etc.), as well as various products from them. Customers, who have opened such accounts in banks, have the opportunity every day to buy and sell bullion, plates, coins, medallions, etc. Increasing competition in the market deposit services has contributed to many new types of check deposits - accounts which entitle the depositor to write checks to make payments (hence the name). In addition, the owner of this account is free upon request to take with him the cash. The most common forms of check deposits are now demand deposits and NOW-account /26/ P. 372 /. NOW-account - an account against which exhibited negotiable orders of withdrawal - are widespread in commercial banks in the West 80s. First, they are classified as savings deposits, and from 1981 - as checking deposits. Originally NOW-account is a type of savings deposits, on which interest is paid. Against these deposits the client can write drafts (orders to pay money to a third party), referred to as negotiable orders of withdrawal, because they could handle on a par with checks. In this regard, NOW-accounts have been classified as check deposits. Sometimes NOW-called hybrid accounts and current accounts interest rate (the percentage is set on it). Prior to 1986 the rate of interest was limited to the level of 5.25%, then the restriction was lifted (but basically the interest rate has not risen above that mark.) Commercial banks are charged to the customer a fee for maintaining and servicing the account of each operation on it. The size of interest payments, usually determined on the basis of the minimum or average balance in the account. Since 1983, commercial banks of developed countries have already started offering analogue NOW-accounts - supernow-bills; they pay two levels of interest rates. With a minimum account balance of $ 1500 U.S. dollars levied to the client above the percentage, ie 5.25%, and for every transaction on the account fees. If the balance exceeds $ 1,500 U.S. Bank pays interest, close to the level prevailing in the money market. Introduction supernow-accounts not only facilitated the movement of cash into the banks of the brokerage houses that offered lower interest rates, but also significantly influenced the increase in banks' liabilities, most of which are deposits of private savers. Thus, the introduction of the banking practice of NOW-accounts intended for retail customers, gradually led to the ousting from the market the majority of ATS accounts. Recently, banks try to increase the inflow of deposits, using new methods and forms of resource mobilization. Thus, in the UK, France and other countries, as well as on the international money markets are widely used negotiable certificates of deposit, implemented, and our national banks, which will be described in the next chapter of the thesis. Let us dwell briefly on the features to attract savings into deposits in some countries. UK. Along with the specialized banks, attracting savings institutions engaged in virtually all credit and financial focus. Among them, commercial and clearing banks, insurance companies, pension funds, trust companies, etc. In recent years a number of measures had been implemented by the banks for the interest on current accounts while maintaining the free provision of all operations on them. The success of this strategy of banks was significant, despite the low (2 to 5%) interest rate. In addition, the accounts of citizens of other countries, that is, non-residents, had a fiscal immunity - were exempt from taxation, which gave a positive result for foreign customers. Offer people the classical types of deposits is carried out mainly by the National Savings Bank of Britain in the form of two bills - the usual, and Investment (1966). The usual account is designed for accumulation of small savings, and the first sum of 70 pounds is not taxed. It is also practiced in the account opening with the introduction of 25 pence, but interest is charged only with the sum of 250 pounds, they are referred to as savings deposits. Interesting form of deposits is practicing trust savings banks, their depositors opening accounts, income from which is paid depending on the size of the deposit. Such a strategy the bank is mainly based on the fact that the trust placed merged savings banks depositors' funds to other banks at favorable interest rates. Since 1979 the UK introduced deposit insurance, which is a form of social security to the population.
France: Policy attracting savings in France is based on the regulations and determines the upper limits of the state of interest rates. French banks set interest rates on term deposits and cash bonam in excess of 200,000 francs, for a period exceeding two years. Government regulation is expressed in fixing the maximum amount of interest on deposits and bonam respectively, amounting to less than 200,000 francs (for the period up to two years). Despite the limitations, about 50% of French people - French savings bank depositors, which is concentrated as 28% of all household deposits. The main organizational loose (deposit) forms are calculated bank books such as "A" and other books of account; term deposit accounts, savings certificates, checking accounts, savings accounts to pay off loans for housing, savings, invested in securities, etc. Savings Bank of France has developed a special form of "saving for a rainy day," entitled "The Future of Eskurelem" (Eskurel - squirrel is a symbol of French savings banks). Among European countries, French banks occupy a leading position in financing and use of banking technology, including the distribution of credit cards. Since 1980, small and medium-registered investments in France are subject to insurance. Insurance is a complement to the limitation of state funds, attracted by one contributor.
Italy: In 1991, 83 savings banks in Italy were united in a super holding company. The need for such a strategy, the savings banks was due to increasing competition in the capital markets of Italy and the impending union of Europe. The most common practice of banks in Italy, savings accounts, which mainly differ in the form of a bank document, the following are their types: ordinary savings book (similar to current accounts) with an interest rate of 5%, emergency savings book, savings book to bearer, etc. Germany. Attracting savings deposits at credit institutions engaged in all of Germany (savings, utilities and land banks, credit societies, etc.). The most widely used such contributions, as demand deposits, term (two species); contractual savings (two species), the current account. Demand deposits are classic interest-bearing deposits. Time deposits are classified into fixed-term deposits and deposits with a flexible mode of withdrawal (30-89 days 90-179 days 180-359 days 360 days or more). Interest on term deposits are set depending on the amount and term. Like other savings and universal commercial banks in Europe, German banks are guided by the operation of public securities. To this end, customers are offered a wide range of financial services.
The United States of America:In contrast to some developed countries of Europe to the United States involving people's savings are mainly engaged in savings institutions, consisting of a mutual savings bank, savings and loan associations and credit unions. In addition, to some extent this feature is inherent in the investment and commercial banks, brokerage houses, insurance, pension and other financial companies. The main deposits are classified into demand deposits, savings and term. Demand deposits and NOW-accounts, as noted above, called checking deposits. In the U.S., demand deposits can be withdrawn investor or be transferred to another person at any time without prior notice to the bank. This is the most liquid category of bank deposits, since they are directly involved in the settlement and payment transactions. For example, in U.S. demand deposits, withdrawn by check, make up about 70% of the money supply M1. It is known that 90% of payments the U.S. are served by check. In the United States retained the right to limit the opening of NOW-accounts for certain categories of investors. Thus, individuals (citizens) can keep their money as the conventional interest-free accounts (demand deposits), and the NOW-accounts in all categories of banks. Legal persons may only have non-interest checking accounts; since they are not allowed by the banking legislation put their money on the NOW-accounts. Thus, in this part, we consider international trends in deposit accounts, and it can be concluded that some types of deposits can find their consumers in the Kazakhstan market deposit services.