For the salvation of Tatfondbank for the first time can be applied “Cyprus” scenario
The government of the Republic of Tatarstan in the negotiations with the Bank and creditors, the largest regional Bank — Tatfondbank — insists on saving credit organizations, has declared “news” the Minister of economy of the Republic Artem zdunov. The Bank risks losing the license due to large-scale withdrawals by customers. For the first time in the Russian market to rescue the Bank can be applied the mechanism of bail-in, which means the biggest contributors are included in the capital.
Occupies 42-e a place on volume of assets of Tatfondbank has suspended work in mid-December last year, after an outflow of deposits against the background of negative news about the relationship of the Bank with a problem “Peresvet”. Then two weeks Tatar, the Bank has lost more than 10 billion rubles. For the authorities of the Republic of Tatarstan the Bank bailout — the question of reputation. In the government hope that the creditors still will meet the authorities and the Central Bank will agree to write off part of the funds to replenish the Bank’s capital. In this case, the Central Bank may adopt a decision on reorganization of Tatfondbank is revocation of the license.
— There is a lot of work, the Bank was sanitized. On the technology itself as it is known, we will inform. Depending on the selected method will be determined by the amount of salvation, — told “Izvestia” Artem Zdunov. — On terms to speak while early, while there (in a Bank. — “News”) has the interim administration, it conducts examination of financial condition. When you’re done, then all will become clear.
For the salvation of Tatfondbank can be applied bail-in, said on the sidelines of the Gaidar forum, the President of the Republic Rustam Minnikhanov. The mechanism assumes that means creditors of the Bank will be converted into capital.
— There are companies that are holding the deposits. They are negotiating, trying to convince to capitalize on their deposits if there is a turnaround. But while the decision is not accepted, all will depend on what decision of the Central Bank, — said the head of the Republic, did not elaborate on what amount of funds can be discussed.
Tatfondbank could become the first credit institution that the salvation which will be conducted not at the expense of public money (the Agency for Deposit insurance and the Central Bank), and at the expense of creditors. The idea of the Central Bank, it can be customers who have kept in their accounts more than 100 million rubles for December 2016. According to “Izvestia” information, the regulator insists on such a scheme.
The Central Bank of its intentions in respect of Tatfondbank not comment.
To pay for the salvation of Tatfondbank will have its main shareholder — the government of the Republic. Tatarstan authorities control more than 50% of the capital of Tatfondbank, the rest belongs to individuals and legal entities of the region.
— The status of the Bank involves the access to administrative resources and the high reputational risks for the leadership of the region in case of recognition of Tatfondbank insolvent and the revocation of his license. Probably, Tatarstan leadership will seek to find resources for financial rehabilitation of the Bank, — says the chief analyst of analytical Department of Promsvyazbank Dmitry Monastyrshin.
The current Bank situation is the result of the accumulated problems in the credit policy and strategic development, says the risk Manager of Kiwi Bank Ramil Sharapov.
— The most conservative estimate of troubled assets is not less than 60% of the total assets of the banking group of Tatfondbank, including the timer Bank and Bank “Soviet”, — said the analyst. — The amount of real assets is not more than 150 billion rubles, depending on the assessed land and property, which is pledged to the Bank for loans.
Questions also causing the securities portfolio, which is probably represented by securities other credit institutions, in particular Bank “Peresvet”.
— We are talking about the amount of investments not less than 5 billion roubles, — said Ramil Sharapov. — Thus, the rescue of a group of Tatfondbank need at least 130 billion rubles. But once such a sum is unlikely to provide even the Central Bank. So you need the integrated participation of all stakeholders — as shareholders and major customers. Without the procedure, bail-in is likely not enough.
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