Nabiullina rejected the possibility of freezing Russian deposits

The question about freezing deposits was asked by United Russia deputy Evgeniy Revenko. He noted that in the “internet space” a scenario is being discussed in which deposits will be frozen due to the risk that banks will not meet their obligations to depositors. The reasons for this, according to Revenko, are the decrease in lending and the increase in deposit rates.

“What can I say? I can say that it’s probably hard to find more nonsense than this idea. They scare us with this, they say that banks supposedly cannot pay higher interest rates on deposits. In the professional field, these scenarios are not discussed because they do not make any sense,” Nabiullina responded.

The head of the Central Bank explained that banks offer high interest rates on deposits due to high lending rates, which are always higher than deposit rates. At the same time, even in the current conditions companies are actively applying for loans, despite the high interest rate, Nabiullina emphasized.

The process of reducing the Central Bank’s interest rate will be orderly and will be designed in such a way as to avoid a massive outflow of deposit funds to the market, which could cause inflation, assured the president of the Bank of Russia.

Previously, experts interviewed by RB.RU admitted that deposits in Russian banks may be limited in return if the interest rate is reduced. “When banks need to return funds at the beginning of the key rate reduction cycle, in many ways we can see not a freeze on deposits, but a change in the terms of these deposits, which can actually go from one year to three years . ”said Artem Nazarov, founder of the TradeZone school.