Table 3.1 Disadvantages of the guaranteed deposits system, possible solutions.
Lack of assurance of demand deposits
Possible predominance of individual deposits in of term deposits, in those ,which extends to guarantee
It is necessary to improve the way insurance of demand deposits, as in the case ofbankruptcy the depositor has a right to their investment
The establishment of Guarantee Fund (insurance) contributions limits interest rates on deposits
This decision may affect not only the deposit base of banks, but also on their commercial activities, as the bank has the right to decide what rate to set him on the basis of its capabilities.
Second-tier banks are necessary to provide freedom of commercial activities to establisha reasonable limit the size of bets. Lowering the size limits does not guarantee the ratesthose banks whose financial situation in general is unreliable. That is, if the bank is consistent and sets the high interest rates on deposits, so it has warranty according to the deposit policy, in which he will be able to return to depositors of their funds. And the more he raised funds, the larger the assets for future activities and development of credit policy
Imperfect payment scheme for large deposits. In accordance with the law since January 1, 2012 the maximum refund guarantee on deposits of individuals remains in the amount of not more than five million tenge, which is not profitable for the investor because its deposit is not fully insured.
Possible loss of confidence in the banking system and big money can be invested in various banks to depositors.
Necessary to revise the scheme of payments for major investments.
* Source: Table is compiled by the author.
All of these shortcomings, one way or another, affect the successful implementation of the policy of deposit at commercial banks of Kazakhstan. In the main directions of development of the financial sector of the Republic of Kazakhstan for the current year, published by the National Bank identified key actions to be taken with a view to full compliance with the deposit insurance system in Kazakhstan with international best practices, such as: - Continued work on the transition of JSC "Kazakhstan Insurance Fund (Insurance) contributions (deposits) of individuals" to international standards, and the expansion of surveillance powers in the process of liquidation of member banks; - Improving the procedures for determining the objects to guarantee the gradual expansion of facilities to guarantee (including in particular, the object of guaranteeing money in tenge are on card accounts, and contingent individual deposits in tenge, in U.S. dollars and Euro); - A gradual increase in the amount of compensation for deposits of the population who are objects of deposit insurance; - Improvement of financing of banks, deposit guarantee system in order to bring the provision of compensation for deposits up to a level sufficient to maintain stability and depositor confidence in the banking sisteme./44 / The problem of financial recovery in order to increase public confidence in the banking system is correct at all stages of development and implementation of the policy of the bank deposit. Addressing the increasing confidence in the banking system by the population should be carried out at the state level and by the commercial banks.
At the state level should:
· Strengthening of banking supervision and regulation by the National Bank of Kazakhstan for the second-tier banks;
· Support, regulation and development of a collective deposit insurance fund;
· Amendments and changes to the law "On banking secrecy" that guarantees the secrecy of bank deposits.
1. Bank supervision: Since the inception of banking instability caused by bankruptcy of some banks, massive withdrawals of deposits, objectively pushed the state to expand the practice of banking regulation. With the regulatory state is trying to protect depositors against financial losses and to avoid damaging for the economies of the bank failures. / 25, p. 160 /
2. Foundation of the collective deposit insurance. The main problem standing in the way of implementation of the deposit policy is the lack of confidence in the banking sector, from both institutional investors and the population. As a result, improve the functioning of the system of collective security deposit will be set up appropriate conditions for attracting household savings in banks that will eventually lead to an increase in the Bank's active operations, increase their capitalization and competitiveness, reducing the cost of banking services and, hence, their greateravailable to customers of banks. About the data problems discussed above.
3. The law "On banking secrecy." The need for adoption of the Law "On Banking Secrecy" is dictated by the will of many bank customers about the secret and guarantee non-disclosure of information relating to their personal accounts. In this regard, of particular relevance in the deposit market is the implementation and further development of the law as a way of increasing public confidence and clients in the banking system.The law "On Bank Secrecy Act" would provide secret information on the balance of deposits in the accounts, information on the movement of the account, etc.
The solution of the problems facing the implementation of the policy of deposit of commercial banks is also a quality of the banking system of the country. But considering the issues and raising money by financial intermediaries should be borne in mind also other reasons. In particular, mention should be made about the problems of knowledge, demographics, motivation, and some aspects of regulation. Awareness: Most potential investors do not understand sufficiently the mechanism of financial intermediaries. For its part, the financial intermediaries (in particular - the banks) are not considered very desirable to bear the costs of full information about all of the market of banking services and products in an effort to limit image advertising, but also note the presence of the entity in the market.
The demographic crisis: A more significant factor in the formation of gross savings and investment, both for nations and for individual regions will remain the question of mobility of the population, and especially - the emigration outflow, which is accompanied by a significant outflow of money. It should be emphasized that the flow of emigration and at the same time reduces the gross savings in the financial sector, and working capital funds necessary production.
Motivation: With considerable difficulty a significant role in raising the level of savings should play the part of the motivation of the population, which has a relatively high personal income. For those who have temporary or systematic excess money motivating factors are safety, convenience and speed of access to money. But not always set a high interest on deposits, especially in cases of concealment of the sources of money. We have reviewed the main problems and solutions at the state level. At the level of second-tier banks, or at the micro level have been resolved the following issues. In recent years, its development, Kazakh banks have been at the center of a set of highly complex and difficult to forecast the contradictory processes in politics, economy and social sphere. Of course the situation in the banking sector of the republic is the echo of a heavy financial condition of the economy. However, the important role played by the banks themselves. Trends in the development of the banking system in recent years clearly show that the growth of financial services to the population increase and to withstand the competition and increase the confidence of the population to credit institutions, banks need to develop their own policy development. Of the major domestic issues specific to the current stage of development of Kazakhstan's banking system, the following: • the weakness of its own resource base; • lack of an established system of economic analysis in the banks; • weakness or even complete lack of marketing services in the banks; • lack of clear guidance in the form of a certain set of core indicators to monitor and regulate the activity of a commercial bank. To strengthen the banking system at the micro level, ie within the banks themselves must also be certain task, which consists in the development of key areas of development:
1. Strengthening the financial condition;
2. Creation of a modern banking infrastructure; 3. Provision of new quality customer service; 4. Formation of an effective human resource capacity.
Strengthening financial condition: The financial collapse of the bank - an event that affects primarily the public interest. Bank failure hurts its depositors and creditors, shareholders, employees and all those who deal with this bank. Since the banking system in the market becomes a vital social institution, any failure of the bank, reducing the credibility of the entire banking system, has a negative impact on society as a whole.
Creation of a modern banking infrastructure: The activities of banks in Kazakhstan at the present stage are characterized by a concentration of banks mainly in large cities, poor branch network. Given that the stability of the bank depends on the availability of a broad regional network, we need cash settlement units, which are focused on servicing small and medium enterprises, cooperatives and individuals. Cash and cash departments, as structural units of the bank, authorized to carry out on behalf of the Bank of certain types of banking operations: the opening of account and personal accounts, cash management services, money transfer customers in Kazakhstan and abroad, buying and selling foreign currency.
Providing the high quality new client service: Considering the problem of raising money for the economic needs to pay attention to the problem of improving banking services.
Foreign banking practice shows that the banks that provide customers with a variety of high quality services usually have an advantage over banks with a limited set of services.Currently, an increasing number of major Western banks pass on the full service customers. This means that in addition to the settlement, credit and cash management services banks provide their customers with a number of other services aimed at meeting the specific needs of each client. Banks perform a complete customer service: carry out the calculation and payment of taxes, carry out leasing, factoring services, report information about the solvency of counterparties clients, assist in the issuance of shares and other securities, advise clients on investment issues, etc. The experience integrated banking customers are gradually being implemented by domestic commercial banks, which begin to take on new services (trust, consulting, leasing, factoring, foreign exchange, poruchitelskie, etc.) to meet the increasingly sophisticated needs of customers. This approach increases their competitiveness in attracting credit resources and new customers. The current target audience (real and potential customers of the bank, financial and government circles) is interested in the timely, complete, reliable and serious analytical information, the most comprehensive coverage of different areas of a commercial bank. Today, the active and targeted advertising has become one of the main conditions that can ensure the success of the bank on the market.
The formation of an effective human resource capacity: Personnel policy of any bank should be aimed at improving human resources management, providing joint efforts to achieve collective goals . Need to develop the concept of working with staff, which would meet modern requirements. It should be aimed at improving the effectiveness of the prescribed functions through the efficient use of intellectual and personal capabilities of personnel, elimination of duplication of functions and reduction of other costs, scientific and methodological support of labor, its maximum computerization, and creation of necessary industrial and social conditions for staff. At the end of the bottom head I want to note that we have considered only a small part of the problems that affect, both directly and indirectly on the process of developing and implementing policies of the commercial bank deposit
The need for the development and formation of deposits by commercial banks of Kazakhstan policy is driven by lack of investment funds in the economy. Focusing on domestic sources of investment through the mobilization of free cash flow of the population is a priority in the financial sector of the country. Therefore there is a need for a strict policy of free money to mobilize resources in the economy by banks to actively use them in order to ensure economic growth in the country. Accumulation is the national resources to finance economic development is due primarily to the fact that the state is less dependent on foreign participation in economic development. In world practice, a well known source of funds, through which at one time overcome crises, many states, and domestic savings as a state. As a result, I made the following conclusion:
1. The different definition of "deposit". Defined theoretical content and the essence of the concepts of "savings", "deposit" and "deposit market," and proposed a classification of the deposits. Functions of the subjects (participants) of the deposit market, according to which each of the participants in the deposit market has its specific function and performs a role in the functioning of the deposit market.
2. I considered the international experience of the functioning of the deposit market, and displayed the basic types of deposits in developed countries.
3. Revealed the current state and structure of the deposit market in the Republic of Kazakhstan on the basis of studies of the main stages of development. Disclosed, the main positive and negative aspects (tendencies) influenced the development of the deposit market. On the basis of the study a mechanism of functioning of the deposit market in the Republic of Kazakhstan. It is proved that the mechanism of functioning of the deposit market begins to develop strategies, policies and tactics to achieve their goals through the implementation of programs: at the state level - is a program of employment policy, population policies, policies to improve income levels that improve the level of savings and commercial banks that is, the development of second-tier banks banking policy based on the deposit policy. The main stages in the development of the deposit market: the stage of formation, development stage, growth stage and the stage of intensive growth. Reveals the structure of the deposit and the current state of the market at each stage of development.
4. The strategy of forming a deposit policy for commercial banks. A SWOT analysis of strengths, weaknesses, opportunities and threats of commercial banks when dealing with deposit operations. We consider the internal environment (or micro-level), which includes financial management, personnel management, bank marketing, external environment (or macro-level), consisting of the direct environmental impacts and indirect environmental impacts. The external environment includes the direct impact of investors: individuals and legal entities, competitors. The external environments of indirect effects include the following factors: the economic factor, demographic, social, and geographical. According to the SWOT analysis identified the problems of development of the deposit market and developed a strategy for the formation of deposits in commercial banks policies. The strategy of formation of deposit policy is based on three stages:
· phase of the study
· The planning stage
· Stage of making and implementing decisions.
5. Proposals for further development of the deposit insurance system in the Republic of Kazakhstan. We consider the widely practiced in the world system of providing guarantees to investors in the form of deposit insurance. We consider the deposit insurance program in Kazakhstan. The basic reasons for the need to deposit insurance: macroeconomic (instability of the banking system, inflation rate, growth rate of foreign currency) and microeconomic (the development of other segments of financial markets, inadequate branch network, the low capitalization of banks, high competition, lack of confidence in the banking system, a high risk of investing deposits).
6. The main directions of improving the economic mechanism for attracting deposits and deposits in the banking sector and made recommendations to improve financial services in the banking sector. To improve the economic mechanism for attracting deposits and deposits developed its guidelines through a mechanism for attracting deposits and deposits. This can be done through advertising and other areas. The problem of financial recovery in order to increase public confidence in the banking system is becoming increasingly important at this stage of economic development.Addressing the increasing confidence in the banking system by the population should be carried out at the state level and by the commercial banks. At the state level should:
· Strengthening of banking supervision and regulation by the National Bank of Kazakhstan for the second-tier banks;
· Support, regulation and development of a collective deposit insurance fund, and occurrence in the system of collective security of all other banks;
· Amendments and changes to the law "On banking secrecy" that guarantees the secrecy of bank deposits.
Considering the issues and raising money by financial intermediaries, also identified other factors that inhibit the inflow of funds in the banking industry. In particular, the author mentions the problem of knowledge, monetary controls, demographics, motivation, and some aspects of regulation. To strengthen the banking system at the micro level, ie within the banks themselves offer a solution to certain problems, which consists in the development of key areas of development:
1. Strengthening the financial condition; 2. Creation of a modern banking infrastructure; 3. Provision of new quality customer service; 4. Formation of an effective human resources capacity.
Summarizing the thesis I want to say that the situation in financial markets has led to the fact that banks have to hold a more pragmatic deposit policy aimed at mobilizing public funds, as in the current period of transition should not underestimate the role of deposit policy as a mechanism for the involvement of population in the state economy.
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