Retail Deposits in January-November 2021

Депозиты населения в январе-ноябре 2021 г

Sergey A. Zubov
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Sergey A. Zubov: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2022, issue 1, 33-35

Abstract: Retail bank deposits in January-November 2021 increased slightly, their share in bank liabilities decreased. The factors of the slowdown were: the outflow of funds into the purchase of real estate due to the availability of mortgages; attractive conditions on the stock market; the growth of cash savings in the overall structure of savings; the introduction of a tax on interest on large deposits. Starting from Q2 2021, the tightening of the monetary policy of the Central Bank of the Russian Federation contributes to an increase in deposit rates, which in the near future can restore the attractiveness of bank deposits.

Keywords: Russian banking sector; retail lending; debt burden indicator; macroprudential markups; Bank of Russia (search for similar items in EconPapers)
JEL-codes: D81 E58 G21 (search for similar items in EconPapers)
Date: 2022
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