The Central Bank and the Ministry of Finance are developing a new tool for long-term savings of citizens

The Bank of Russia and the Ministry of Finance of the Russian Federation are developing a new tool for long-term investment of the population – zero-coupon federal loan bonds (OFZ), confirmed RBC Head of the State Duma Committee on the Financial Market Anatoly Aksakov.

A citizen’s savings in the form of voluntary contributions, maternity capital and pension savings under the control of the Central Bank are invested in OFZ, corporate and infrastructure bonds and other securities, as a result of which the depositor can count on a number of bonuses, including a tax deduction of up to 52 thousand rubles. per year and state co-financing of deductions in the amount of up to 36 thousand rubles, the interlocutors of RBC explained the mechanism of the project.

According to the plans of the Bank of Russia and the government, zero-coupon OFZs will be included in the line of instruments being developed, aimed, in particular, at “meeting the needs of citizens with low incomes.” This measure will be implemented as part of strategies on the development of the financial market of the Russian Federation until 2030. According to Mr. Aksakov, the zero-coupon OFZ project is planned to be implemented in January 2023.

According to the strategy, another measure to stimulate long-term savings of the population will be “the introduction of the institution of irrevocable deposits with the establishment of an increased amount of protection for them in the deposit insurance system.”

In early December, the Inetrfax agency wrote about the plans of the Cabinet of Ministers to bring OFZs without a coupon to the stock market. Then the press service of the Ministry of Finance told RBC that the department was not “working on issuing long-term OFZs without intermediate coupon payments.”

Read more about the prospects for the introduction of zero-coupon OFZs – in the material “Kommersant FM” “Bonds are being cut off coupons”.

Erdni Kagaltynov