The Central Bank reported on the reduction of funds of legal entities in banks by 1.1% in October

As of November 1, funds of legal entities on accounts in Russian banks decreased by 467 billion rubles. (-1.1% compared to the beginning of October), and the funds of individuals (excluding eksrow) – by 98 billion rubles. (-0.3%). Thus, clarifies the Central Bank, in total, 40.847 trillion rubles are stored in Russian financial institutions. legal entities and 33.279 trillion rubles owned by individuals.

According to the data of the regulator given in the review on the development of the banking sector (.pdf), the reduction in the funds of legal entities is associated with the payment of dividends and taxes by energy companies.

Due to the conversion of currency into rubles and its transfer abroad, the currency balances of citizens decreased by $3.7 billion in November. “Ruble accounts at the same time grew by 113 billion rubles. (+0.4%) entirely at the expense of current accounts (+122 billion rubles, +1.2%), despite a slight increase in deposit rates (up to 6.84% in the third decade of October from 6.54% in the third ten days of September),” the Central Bank said in a statement.

In the review of financial market risks published last week, the Central Bank saidthat in the first half of October, an outflow of funds from individuals and legal entities in the amount of $9.4 billion was recorded against the backdrop of the need to regulate the open foreign exchange position. According to the representatives of the regulator, banks failed to promptly reduce foreign exchange assets.

Andrey Sapozhnikov