Purchase population of Federal loan bonds issued by the Ministry of Finance, to occur under the simplified scheme, promises savings Bank. However, experts doubt that this will stimulate the interest of people to debt securities and will cause them to shift from deposits
Face value of Federal loan bonds (OFZ) for the population could reach 1 million rubles., the tool will be accessible to citizens, said the Deputy Chairman of Sberbank Bella Zlatkis reporters on Friday.
“We understand the Ministry of Finance, the idea to make this tool as accessible as possible”, — quotes its TASS.
According to Zlatkis, in contrast to the traditional option of opening a brokerage account should be able to buy Federal loan bond under the simplified scheme. However, she added that even if you simplify the purchase of OFZ, this tool is “not for ordinary customers.” “Most of the customers on the character somewhere between an ordinary investor with the most simple queries and advanced qualified investor,” — said Zlatkis.
She noticed that “people” BFL can compete with Bank products. “Yes, some competition with the contributions there. However, a distinctive feature of the deposits is the possibility of obtaining funds at any time. How the new securities will be laid this possibility is still unknown,” — said Zlatkis.
She noted that such bonds will be applied the same regime of taxation that under the current OFZ. The Deputy head of the Ministry of Finance Ilya Trunin said Friday that the Ministry has made to the government bill, which exempts from the tax to incomes of physical persons (personal income tax) coupon income on bonds. “The President’s instruction is that we are following. We introduced a bill exempting coupon income from the personal income tax”, — reports TASS words Trunina.
Individuals can still buy the OFZ – to do this they must enter into with a Bank or broker by a brokerage agreement and the custody agreement.
Thursday, November 24, Deputy Finance Minister Sergei Storchak said that the Finance Ministry now conducts preparation of OFZ for the population together with Sberbank. According to him, the process of withdrawal of securities on the market will depend on the services the Bank will offer. Earlier, Finance Minister Anton Siluanov said that the Finance Ministry expects to attract with BFL about 20 billion rubles Storchak said that this amount is not reflected in an additional 200 billion roubles of domestic borrowing, added in the amendments to the Federal budget 2016 adopted by the state Duma.
The simplification of the scheme will hardly stimulate the interest of the population to debt securities, the analyst of Raiffeisenbank Denis Poryvai. “Those who are interested in investments in OFZ bonds bought before them, and through brokers. The fact that such tools will become a little more accessible, doesn’t mean they immediately will start to buy. Moreover, the parameters of these instruments, including the yield has not yet been determined,” Poryvai said. He noted that now the average yield on OFZ bonds is 8.8% per annum.
The analyst notes that most savings Bank is not profitable to create competition for their deposits. “Deposits — the main source of cheap funding for the Bank. So if the BFL and will appear in the Bank’s branches, they will somehow delineate, not to create competition,” — says Poryvai.
“The amount of issue 20 billion roubles for this site and for this magnitude is negligible. The cost of setting up of a platform for the sale of bonds, the need for advertising of this product will cover all of the benefits that can derive the Finance Ministry and Sberbank. If the issue involves documentary form, even to breed OFZ for all 17,5 thousand offices of the savings Bank is an enormous work”, — said the chief economist of the company “PF-the Capital” Evgenie Nadorshin. He believes that this project is unprofitable, because it is not yet known, will be offered new releases.