Orthodox Bank is no more

How the problems of the Russian Orthodox Church's bank Peresvet threaten its depositors. 
Origin source
The bank "Relight", almost half owned by the Russian Orthodox Church, restricted cash advance. In addition, its bonds fell sharply, and their yield reached 130%, which usually indicates a complete disappointment of those who once decided to invest in a credit institution. This followed media reports that the head of the bank Alexander Shvets disappeared and no one knows his whereabouts. Sam "Relight" blames panicked journalists. But it seems that the bank really can be a serious problem.

No money, but they hold?

October 18 seemed nothing no signs of trouble for "Peresvet". Media earlier wrote that the bank may be things wrong, but nothing special happened to him. While journalists do not call in the call center company and found out that she has limited the issuance of cash. Now the customer who wants to take their money out of the "Peresvet", can receive a maximum of 100 thousand rubles a day. That is, if someone, say, wanted to pick up the contribution of a million, it it will take 10 days. Later explained in the bank, that restrictions on the issuance of money centurieseating due to increased demand from the customers. At the same time problems with liquidity "Peresvet" No, the bank said.

Parallel collapsed "Peresvet" bonds. During the day they became cheaper by 36%, and the yield reached 130%. To understand: the yield - an indicator of investor confidence in those or other issuers that issued debt securities. Compare, albeit not very correct, but the demonstration: yields on US sovereign bonds is around 1-2%. The US economy is considered to be unshakable pillar, which forever will carefully pay its debts. Therefore, they can earn a quite a bit. But reliable. And then 130%. This means that almost no one believes that "Relight" will continue to service its obligations. "Garbage" paper, if we use the language of stock traders.

We are not to blame, they have written!

So, what happens to the "Relight"? On the one hand there is the flight of investors to panic sell bonds. On the other hand, raiding investors who frantically try to withdraw their money from the bankand, until it burst. What makes the credit institution in this difficult situation? She blames the media that publish false information. Well, of course, how else, then? This is because the journalists, probably on behalf of the bank loans navydavali billions of rubles to companies that may not lead real activity and are ephemeral ... It's the journalists on behalf of the bank, probably handed out loans to affiliated menedzhentom "Peresvet" structures ... However when a bank pleads guilty to their problems?

Meanwhile, the above operations - is not an invention of the media. It all started in the beginning of October, when the international rating agency "Fitch" has published a report on the activities of "Peresvet". And not to say that analysts would annoy "Relight". They just auditors. After reviewing the information, experts and concluded that the bank at 12 billion rubles of high-risk loans. In the analysts' report drew attention to the newspaper "Vedomosti", after which began the fall "Peresvet" bonds. But the real bomb exploded after reportedI channel "Rain", which found that the Chairman of the Board Alexander Shvets had disappeared, and no one knows his whereabouts. In "Relight" responded quickly, saying that the head of the sick. But no evidence this is not provided.


In general, the work of the press service of "Relight" deserves a separate chapter in the book about how PR people do not have to work. The bank these days rather sparingly commented on media reports, and in the end only hurt your organization. The moment of truth came after reports of missing head of the bank. Events in recent years show that usually followed such information bankers declared anywhere in the UK or another safe country, while their banks lose their licenses. It would seem that if the bank's all right, you need to make every effort to prove it.

In "Relight" also said that the head of the organization was ill, but did not consider it necessary to devote to the public in detail. For example, the pictures show a top manager at the hospital or to persuade him to gather forces and give Intrvyu to some authoritative edition. It is desirable video interview. Mean message only increased the panic. The Bank may may say that it is operating normally and had no problems. But who would believe him in a situation where banks have burst one by one. Of course, such behavior and triggered a collapse of securities and the invasion of depositors. And the media, as well as analysts, "Fitch", just qualitatively doing their job, nothing more.

Life turned unpleasant side

Perhaps "Relight" relied on the fact that he is not just a bank, and the bank, owned by the Russian Orthodox Church. Everyone knows about the high attitude of the authorities and the church, and therefore probably thought with a credit institution, no one seriously accept the fact that such a structure could burst. But no, wrong. Probably not take into account a few other facts. The first one that the ROC recent years, a lot of problems with it banking business. Suffice it to recall the failure of another bank, which once served by the clergy - "Sofrino". As well as cases in which the church has lost tens of billions of rubles, jamyavshih in deprived banks licenses - "Ergobanke" and "Vneshprombank".

Depositors and investors in general, being sensitive. It is known that recently "Relight" actively attracting funding. He issued 30 billion rubles bonds. It has been reported that 10 billion of it going to take state "Rosselkhozbank". And, to borrow from pension funds, that is, take the money of future pensioners. There was whether such a deal or not - have not been reported. But if you really have entrusted NPF bank ROC money and if now it burst, that many Russians will have to say goodbye to a part of their savings. They wanted to earn some money for old age, and may eventually fall into a black hole financially.

Another message could alert customers of the bank. "Relight" raised the rates on deposits. This note at a time when banks worsen conditions on deposits. Still, we have the Central Bank eased monetary policy, and this naturally leads to a cheapening of money. Now investors are smart people and they know that when the bank lifts interest rates on deposits, so it is abouttime may be trying to raise funds to cover the cash gap. Well, or not close, and the people take the money and hide away. In the same London. And even a special term for this:. "Bank cleaner"

Regulator regulate, regulate ...

The idea is soon to have its say the central bank. For example, to introduce a temporary administration in the bank and disconnect it from the payment system (so as not to have deduced that have not yet managed to bring). Or take the bank to reorganize. Or deny a license. And, maybe, on the contrary, to reassure the public and announce that "Peresvet" there is no problem that the test has proven its reliability in general, to stop the panic. But the regulator is silent. It also automatically creates a bad idea that to "Relight" got a lot of questions. For example, a (reinterpreted classics): "Light of my bank, say, and where clients' money?".

Of course, it would be desirable, that all ended well, and the bank's problems were only fantasies of depositors and investors. Otherwise, the outcome is a foregone conclusion. In the case enters Statee DIA and pays with the affected State the same means. It is not good, of course. It's not even money, and reputation. Take that, Grandma, and the bank of the Orthodox Church. That's you, young man, and spiritual brace.