The share of highly liquid assets on the balance sheets of banks fell to 2007 levels

In January - June 2010 the ratio of the average of the most liquid assets with the average value of total assets of the banking sector amounted to 8,5% - "that is returned to pre-crisis level." Such a conclusion is made in the Central Bank published in Wednesday edition of the Bulletin of the Bank of Russia ", assessing the risk of banks' liquidity, according to Kommersant. For comparison, the regulator led indicator of this relationship in January - June 2009 - 12,3%. Under the highly liquid assets of banks in this case refers to "cash, precious metals and stones, the balances on correspondent accounts nostro, balances on correspondent and deposit accounts in the Bank of Russia".

Close to the current level of highly liquid assets from the banks was in 2007 - 8,8%, according to data of annual reviews of the Central Bank on the development of the banking sector and banking supervision. However, if you count the pre-crisis period of the first half of 2008, we can state that banks are still not completely got rid of the supply of liquidity crisis. In January - May 2008, according to the Central Bank, the share of highly liquid assets of banks stood at 6.8% (in total for 2008 - at the level of 7,9%). 2007 - not the best basis for comparison, similar to the experts. "This year's auctions for the sale of assets of Yukos, which many companies have transformed their existing non-monetary assets in the accounts of the banks, which led to an increased level of liquidity" - recalls director of the Department of Banking Audit FBK Alexei Terekhov.

Nevertheless, the general trend, on which the regulator is correct, confirm the market participants. Now, as before the crisis, banks have become the preferred return on excess liquidity, gradually minimizing its level. "The remaining excess liquidity in banks is readily absorbed by investing in something that allows you to earn income - says Chief Financial Officer of Bank Uralsib Yuri Petukhov. - In crisis as banks, by contrast, tried to have enough liquidity to fulfill the obligations: they have accumulated a large amount of funds in highly liquid assets, despite their zero-yield ". "We, like other banks, trying to reduce the amount of non-performing assets: for example, from the beginning of the year reduced the funds in accounts at the Central Bank for 61 billion rubles - Reaffirms Financial Officer of Sberbank Alexander Morozov. - When you stabilize banks reduce their holdings and invest in a reliable, but for monetizing tools, primarily in government securities (OFZ) and the Bank of Russia bonds (OBR). The volume of investments of credit institutions in the OBR increased from 283.7 billion rubles on January 1 to 999.8 billion on July 1 in the OFZ - from 767.9 billion to 818 billion, reckons the head of the analytical units of Jones Lang LaSalle Eugene Nadorshin. From the placement of excess liquidity in other assets banks are holding back a conservative policy with regard to the risks and the lack of fast-growing demand for loans from borrowers, he says.

However, in the future the process of transferring highly profitable assets will be accelerated. "By pushing the banks declining profitability of business, - indicates first deputy chairman of Credit Bank of Moscow Vladimir Chubar. - Now the challenge for banks to earn, and they will continue to shift funds into instruments that will generate income.