Thus, growth of a credit portfolio of banks in 1999-2000 . And continuing growth in 2001 are stipulated not only changes in credit policy of banks, but also demand for credit resources caused economic growth and its further expectation.
The problem of insignificant volume of the long-term investment credits and low share of bank sources of financing and investment projects of the enterprises in our economy is determined not so much by unwillingness or impossibility of banks to allot credits on long term, how many by investment policy of enterprises stipulated existing legal base.
Now it is more favourable the existing rate of the taxation to direct our enterprises at on the investment own turnaround means, considering them as own investments and receiving an investment tax privilege. Defect of circulating assets they aspire to cover at the expense of the short-term credits. However early or late it results in break of liquidity at the enterprise, hindering the credit repayment.
But in the given direction positive shifts also were scheduled. First of all this decrease of the profit tax. Other important factor is the availability practically in all subjects of Federation of the appropriate laws about support of investment activity, which provide tax privileges by a local part of the profit tax and other taxes, grant the tax credits. Besides to reduce risks of such credits, the banking system should attract long-term resources, that within the framework of the acting specifications of a central Bank to issue investment, long credits. Here we collide with two basic problems.
First consists that the specifications of a central Bank do not take into account, that at receipt of money resources on settlement and current accounts both physical, and legal persons the rest of these means can be used for crediting the investment projects. The entering of the appropriate updating into the Instruction № 1 Central bank " About the order of regulation of activity of banks ", in account of the specification of long-term liquidity would allow banks to increase volumes of investment crediting already now.
The second problem consists in opportunities of attraction by banks of long-term resources. It is not necessary to expect, that as soon as possible enterprises begin to invest in the bank deposits and liabilities for terms more than one year. We think, what even the annual deposits will be without delay exception. Therefore by basic source of credit resources for the long-term projects the own means of banks and contributions of the population will stay. The decision of a question on growth of the savings, especially long-term, only in a small degree depends on banks. On acceptance of the decision of the clients of banks about the savings, terms of their storage a situation in country first of all whole-economic influences . At decrease of rates of inflation, augmentation of the real incomes, improvement of quality and range of the goods it is possible to wait for growth of the savings, elongation of terms of a storage of savings means. The banks in this situation can only focus money flows, offering on the long deposits the acceptable interest rate, and on short - not compensating inflationary costs. The government of Russian Federation should more give of attention to stimulation of the savings the share market is not advanced yet.
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