Arbuzov figured out how to protect bank depositors

The National Bank of Ukraine proposes to use the insurance of long-term bank deposits as an additional tool guarantees repayment to depositors. This is stated in the report released today by the NBU. "The initiative of the National Bank is to enter the insurance amount of long-term deposit investor - natural persons, exceeding the guaranteed payments to the Fund, ie no restrictions limiting the amount" - the report said the National Bank. In this case, National Bank believes that insurance should be subject to deposits both in local and foreign currency as well as in precious metals. In addition, it is proposed to consider extending insurance mechanism and long-term deposits of legal entities. "Such a tool should be used directly by banks on a voluntary basis with the assistance of reliable insurance companies. In order to encourage banks to participate in the Deposit Insurance National Bank is willing to consider the possibility of introducing specific incentives for banks", - underline the NBU. As is known, are considered long-term deposits placed with banks on the basis of the deposit agreement for a term exceeding one year. At present, banks voluntarily created Deposit Insurance Fund of physical persons guarantees payment of the contribution of up to 150 thousand UAH. Earlier, the National Bank issued for public discussion a bill, a ban on early withdrawal of funds from bank deposits. In this case, the NBU said that the proposals are not final position of the regulator, and an invitation to debate on this issue.

Watermelons: National Bank building up reserve assets

In the past, and in early 2011, the consolidated balance of payments was positive. This means that the inflow of foreign currency in Ukraine is stable in excess of its outflow. This was stated by head of the National Bank of Ukraine (NBU) Sergey watermelons in a video message on the official website of the NBU. "As a consequence, the National Bank is actively expanding reserve assets - they are the key to stability in the foreign exchange market and the ability States promptly repay external obligations. The volume of reserve assets at the beginning of March 2011 amounted to more than 36.5 billion U.S. dollars. You now have a cash reserve of the State "- the head of the National Bank. According to him, the reserve assets NBU enough to finance imports for five months. The materials FINANCE.UA

Teck Resources lost 12% of the profits

The Canadian mining company, "Teck Resources Ltd" in the IV quarter of 2010 compared with the same period in 2009 reduced net income by 12% to 361 million Canadian dollars (363 million dollars), or 61 cents a share. This was stated in the Group, reported Bloomberg. Revenue Teck Resources, however, grew by 30% to 2.81 billion Canadian dollars against 2.17 billion Canadian dollars a year earlier. In addition to Teck Resources noted that coal sales in the last quarter of last year totaled 6.03 million tons, and in general the results of last year - 23.1 million tons. Recall that "Teck Resources Ltd" in the II quarter of 2010 compared with the II quarter of 2009 reduced net income by 54% to 260 million Canadian dollars (252 million dollars). Canadian holding company income grew by 24% and reached 2.1 billion Canadian dollars (2 billion U.S. dollars). "Teck Resources Ltd." in the I quarter of 2010 increased profit of about 3.8 times to U.S. $ 909.7 million revenue of the holding increased by 13,8%, reaching 1.9 billion dollars, while operating profit fell to 605 million Teck Resources - one of the world's largest producers of copper, metallurgical coal and zinc. The company has assets in 15 mines in Canada, U.S., Chile and Peru. Ministry of Industry

Imports of goods into Ukraine on 9 billion dollars more than exports

In 2010, the balance of foreign trade in goods and services remained negative - 3113.1 million dollars. This indicator has deteriorated to 1,800.5 million dollars compared with 2009, According to Goskomstat, in 2010 foreign trade turnover amounted to 129 247.3 million, an increase over the year by 29,4%. 51 960.9 million U.S. accounts for trade with CIS countries. As reported by "Ukrainian News", exports of goods in 2010 is estimated at 51 430.5 million (29.6% compared with 2009). Imports of goods - 60 739.9 million (33.7%). Thus the import of goods exceeded exports by 9.3 billion dollars. With regard to services, there prevails exports over imports. Services exports in 2010 amounted to 11 636.6 million (21.2%), imports - 5,440.3 million (5.2%).

Interbank: The euro fell to 3 pennies

At the end of trading on the interbank foreign exchange market the euro was down 3 pennies, the dollar changed little, according to the company InterBiznesKonsalting, trading in the euro resulted in a range 10,7464-10,7572 UAH / EUR, trading in the dollar - 7 9590-7,9625 UAH / USD, trading in ruble - 0,2719-0,2720 UAH / USD. Recall now trades in euros open range 10,7810-10,7885 UAH / EUR, trading in the dollar - 7,9580-7,9620 UAH / USD, trading in ruble - 0,2716-0,2719 UAH / USD.

Most in demand deposit accounts today for 12 months - a banker

"Contributions for short periods (10-30 days) and demand deposits with the possibility of a free withdrawal and replenishment, popular last year, is now less in demand, - said chairman Andrew Unex Bank Yatsura. - Stabilization of the political and economic situation in the country played a key role in raising confidence in the banks, and today customers prefer deposits for 12 months. Longer deposits attract investors a significant difference in the interest rate compared to short. Although, of course, for a period exceeding 12 months, customers are reluctant to invest their funds. The share of deposits in banks' deposit portfolio miserable, so prolongs If there is no need to talk about currency preferences, the most popular use today contribution in national currency and U.S. dollars, their share in the deposit portfolio Unex Bank is about the same - at 43%, respectively, share euro is a little over 13%. This ratio is somewhat different from the past two years, when more than half of the deposit portfolio of the bank were deposits in national currency. "

The value of money summarize

The National Bank expects that in such case is itself a discount rate as a financial instrument can really influence the market of crediting the real sector. It is at this rate will be guided by commercial banks in determining interest rates on their deposits and loans. "This will make the Ukrainian practice similar to the current in the Western countries where both rates relentlessly follow one another and form a tandem indicators, which focus on financial markets when calculating the cost of funding," - said the treasurer, Troika Dialog Ukraine Alexander privateers. In addition, market participants will become easier to navigate when making decisions, because the stakes are in fact identical. Mystery, however, remains as the central bank intends to do: raise or lower your refinancing. In any case, this step regulator is long overdue. Because at the moment the discount rate, designed to determine the lowest price of money in the market, does not work - she was "living his life." Commercial banks, determining the level of market rates do not adapt to the minimum value defined by the regulator. "The refinancing rate is more adequate and is important for banks, but also not a market", - notes senior analyst at the International Centre for Policy Studies, Alexander Acorn. So, on February 28 overnight refinancing rate was 9.25% per annum for loans secured by government bonds and 11.25% for unsecured loans. Account the same rate, with the August 10, 2010 is kept at 7.75%.

Watermelons: Rodovid Bank will bad-bank exclusively for the state-owned banks

Rodovid Bank will be bad-bank (which will be translated into distressed assets) solely for the state-owned banks. The journalists said the chairman of the National Bank of Ukraine (NBU) Sergey Arbuzov, the correspondent of RBC-Ukraine. "It will be bad-bank-only state-owned banks until the end of the year it will be licensed. What will be the performance - then will be deciding whether to license restrictions. While he will be working as a bank without the right to accept deposits", - said Arbuzov. Earlier, the deputy chairman of the National Bank of Ukraine Igor Sorkin said that payments to depositors Rodovid Bank will begin in late April 2011 on materials RBC-Ukraine

China increased its exports of steel products by 73%

China in 2010 compared with 2009 has increased export of final steel products by 73%, to 42.56 million tons. This is evidenced by the statistics, reports Yieh.Corp. Foreign supplies of Chinese steel products totaled 24.81 million tons of steel pipes - 65 million tons of long products - 5.19 million tons, and sections - 2.08 million tons. Recall that the Chinese steel industry in mid-January 2010 compared with the beginning of the month reduced the daily average steel production to 1.695 million tons. In general, in the middle of the month in the country have released 16,954,000 tons of metal. In early January, China's daily produces about 1.79 million tons of steel. As is known, the volume of steel production in China in December 2010 compared to November increased by 2,7% and reached 51.52 million tons. Overall, the past year at the metallurgical enterprises of the country produced 627 million tons of steel, which is 9,7% more compared to the previous year. Ministry of Industry

Belon reduced the share of the concentrator

Belon has reduced its stake in ZAO "Processing plant" Listvyazhnaya "up to 25%. On it informs "Metal Supply and Sales". In particular, the company sold its 75% share in this factory. The buyer and the transaction amount is unknown. However, before the Kemerovo coal producer Siberian Business Union appealed to the FAS for permission to purchase the mine and concentrator at Belon. Previously reported that Belon in the III quarter of 2010 compared to II quarter has reduced the production of coking coal by 29,7% to 525 thousand tons. At the same time release of energy coal decreased by 33.8%, reaching 569 thousand tons. In general, the first 9 months of 2010 Belon extracted 3.325 million tonnes of coking coal, which is 17,6% more compared to the previous year. Belon is the largest Russian producer of coal and its products, one of the leaders in the market metallotreydinga in Russia. In mid-October 2009 OAO Magnitogorsk Iron and Steel Works has completed a deal to consolidate the 82,6% of Belon. Ministry of Industry