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Date: 9 months ago   Category: Finances

The Ministry of Finance of the Russian Federation will issue additional "national" federal loan bonds. Whether they will be more favorable than a deposit?


This decision is made in the conditions of decline in demand of foreign investors for a domestic national debt. Foreigners sell the Russian papers, and the Ministry of Finance three times in a month had to cancel auctions for the Photo national debt: Dmitry of Serebryakov/TASS Bond market of a federal loan has considerably suffered from sanctions: nonresidents have removed from the Russian debt market from April to July of the current year about 350 billion rubles. In August the tendency has amplified. The reason that the new issue of "national" federal loan bonds was announced on September 13 not in their popularity, and in what the Ministry of Finance of the Russian Federation should occupy, the portfolio manager Alexander Krapivko:aleksandr Krapivko the portfolio manager "Now with loans of "usual" federal loan bonds the Ministry of Finance of a problem because the last of four three weren't placed is sure. As for "national" federal loan bonds against usual federal loan bonds: protection of the capital on "national" bonds does them more attractive. Such rigid falling on federal loan bond as we saw since April of this year, wasn't since 2015. Most likely, federal loan bonds will be more favorable to natural persons, but all the same in comparison with currency tools, naturally, ruble tools looked worse". "National" federal loan bonds differ from "usual" in special conditions of placement. The coupon on them is paid time in half a year, and his size depends on paper storage period: from 6% to 8,6% per annum. Such distribution will allow to receive the maximum profitability that who will hold papers three years. It should be taken into account that according to these papers rather high commission: from a half to one and a half percent (1,5% upon purchase to 50 thousand rubles, at an investment from 50 to 300 thousand rubles the commission will make 1%, over 300 thousand — 0,5%). What is important, on "national" federal loan bonds there is a protection of the capital, that is their cost can't fall, as on "usual" therefore many compare them to a deposit. If to consider Friday increase in a rate by the Central bank, then profitability of a contribution has to grow up, and it can be more favorable than "national" federal loan bonds. There are also other risks, the senior analyst of BKS Sergey Suverov:sergey Suverov the senior analyst of BKS "Next year seriously says inflation will accelerate, the Central Bank promises 6% in the first half of the year 2019 therefore from the point of view of profitability in comparison with inflation it won't be so attractive any more. Besides, for federal loan bond there are serious currency risks. This year taking into account falling of the prices, devaluations of ruble and an investment in federal loan bond were actually unprofitable for the population. Next year there will be certain currency risks connected with sanctions and also with the fact that the Ministry of Finance of the Russian Federation will the accelerated rates buy currency after a timeout. The prospects of strengthening of ruble next year it isn't looked through. Those who want to keep ruble savings in "national" federal loan bonds have to be ready to serious risks with currency". Perhaps, the Ministry of Finance of the Russian Federation tests the new channel of replacement of nonresidents, but so far the prospect of substitution of foreign money for savings of the population looks foggy: in one and a half years the state has attracted with the help are usual

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