Bank borrowings include: Attracted (borrowed) funds from banks

These are funds that a bank receives in the form of loans or by selling its debt obligations. The most common form of non-deposit sources of attracting resources is obtaining an interbank loan. Typically, these loans are used to quickly regulate the liquidity of banks' balance sheets (one should not forget that interbank loans are one of the most expensive types of resources). This group should also include deposits and other borrowed funds from banks. An important place in the sources of funds for the credit potential of a commercial bank is occupied by loans from the Central Bank of the Russian Federation, which are issued as refinancing. Credit resources of the Central Bank of the Russian Federation are provided, as a rule, for the purpose of short-term lending and subject to the commercial bank's compliance with economic standards and reserve requirements.
Thus, it can be noted that the structure of banking resources is heterogeneous in its qualitative composition and changes over a specific period of time depending on a number of factors: the nature of deposits, interest rates, activity of the interbank loan market, refinancing rates, etc. Therefore, when drawing up a plan for attracting resources, it is necessary to focus on the following principles.
Operations to raise funds must be organized in such a way as to facilitate the bank's profit.
In the process of planning deposit operations, one should strive for a variety of subjects of deposit operations and a combination of various forms of deposits.
When planning to raise funds, one should ensure the relationship and consistency between these operations and operations for the withdrawal of loans in terms of terms and amounts of deposits and loan investments.
Particular attention in the planning process should be paid to time deposits, which to the greatest extent ensure the maintenance of bank liquidity.
It is necessary to adhere to the optimal structure of attracted resources.
Planning for attracting resources should be carried out on the principle of using the maximum possible volumes of raising funds, based on the potential capabilities of the bank.
The asset of a bank balance sheet cannot be perceived separately from its liability, since in essence both the asset and the liability of the balance sheet characterize the same funds with the only difference that the liability reveals the sources of these funds, and the asset reveals the directions of their use.

Attracted (borrowed) funds from banks

In order to extract the greatest possible profit, banks objectively strive to increase the volume of their turnover by attracting as many borrowed funds as possible and, accordingly, providing as much credit as possible and providing other services to their clients. Clients of commercial banks are individuals and legal entities. The latter include not only companies from all sectors of the national economy, but also public and non-profit organizations, state unitary enterprises, state budgetary organizations, government bodies at various levels (local, regional, federal), and foreign entities. They all have their own personal bank accounts, which can be classified accordingly, i.e. to the accounts of individuals, legal entities and all other listed participants in market relations. Depending on the conditions under which funds are placed in bank accounts, they can be classified into savings, fixed-term, demand and current accounts of government organizations.

Savings accounts are opened by individuals for relatively long periods in order to at least maintain the commodity price of their funds; those. funds in such accounts are placed at an interest rate that must not be lower than the existing inflation rate. At the same time, the agreement on opening a savings account, as a rule, indicates, on the one hand, the possibility of its constant replenishment, and on the other, the impossibility of withdrawing (part of) funds from it without prior notification of the bank. If the client terminates the contract early, he will lose the interest that was established by the terms of the savings account. The benefit of a person who has a savings account in a bank is that he can save without unnecessary hassle and even, possibly, increase his temporarily free funds. And the benefit of the bank is that it can more freely operate with funds placed in savings accounts, i.e. provide them for a relatively long period at an appropriate interest rate. According to such a criterion as the duration of attraction, funds placed in savings accounts come next after the bank’s own funds.

Next, according to this criterion, are funds placed in time accounts, which have a shorter period of use by banks for their operations. And just as in the case of a savings account, the term account agreement indicates the loss of interest by the client if he terminates the banking agreement early on his own initiative.

Money placed in savings and time accounts, coupled with banks' own funds, form the basis for their active operations.

Additional funds for such operations are funds held in demand accounts, which are used primarily by bank clients (companies in sectors of the national economy, government (budgetary) organizations and individuals) to carry out current settlements with market counterparties. Clients can withdraw funds from such accounts and transfer them to third party accounts without prior notice to banks. In order to reduce the level of risks when operating with funds held in demand accounts, banks often include a minimum balance clause as one of the terms of the agreement. Within the limits of this balance, banks can relatively freely use funds to carry out their active operations.

Personal accounts (savings, fixed-term, demand accounts) should be distinguished from deposits placed on them. The difference between an account and a deposit (deposit) is partly the same as between a monetary sign and the number of monetary units indicated on it. A bank account, like a banknote, is a legal direct carrier of the number of monetary units. Only on a traditional banknote the value of the number of monetary units remains unchanged throughout the entire period of its circulation, while on a personal account this value changes with each transaction performed. A banknote, a personal bank account and the bank itself constitute interconnected parts of a unified system of legal carriers of the number of monetary units. The bank in this system acts as a certain material basis; a bank account is something that falls within this framework; and the banknote can be located both in the bank’s cash desk, and in the cash desks of legal entities and the wallets of individuals. A bank is a living (functioning) monetary sign, and a traditional monetary symbol is, as it were, a fixed bank account. As noted earlier, all legal bearers of the number of monetary units must belong to the state and have a state form; while the number of units indicated on them is privately owned.

The modern legal carrier of the number of monetary units are bank (salary, debit and credit) plastic cards, reflecting the state of the personal account. Funds in the accounts of individuals can also be used by banks in their circulation, immediately after they are credited. And this circumstance of modern technical support for banking activities and money circulation in the market, by the way, makes irrelevant the content of the psychological law derived by J. Keynes about the population’s propensity to save, as a result of which the speed and volume of turnover of national capital is allegedly restrained. In modern conditions of technical support of money circulation, any level of the population’s propensity to save can be ignored, since wages for hired workers and various social benefits to the population are issued in most cases not in cash in hand and then saved outside the banking system, but immediately end up in this system and are used by specific banks to their advantage. However, banks in most cases do not charge interest on such accounts.

Combining their own funds with borrowed funds, commercial banks provide loans. If clients request loans from one or another bank that exceed its capabilities, then it itself applies for loans to other banks, which, as a rule, are larger and at the same time have closer relations with the central bank and therefore have a larger volume of refinancing means. The difference between banks and industry companies is that they provide their customers with the same product. And therefore, if some banks have a shortage, they can borrow it from other banks and provide it to their clients. This is how the redistribution of funds occurs within the national banking system, due to a certain discrepancy between the needs of companies in those sectors of the economy that operate in the region where the bank is located and operates, and the lending capabilities of banks. As a result of providing loans - attracting loans, banks have requirements for each other and obligations to each other, respectively.

Another source of the formation of liabilities of commercial banks within the framework of the current structure of the banking system is refinanced funds from the Central Bank. As material security for these funds, the Central Bank usually accepts various types of debt obligations or securities. In some cases, the central bank provides loans to banks through unsecured credit auctions. Banks that have been operating on the market for at least one year, that comply with all standards established by the Central Bank, and do not have a negative balance on their correspondent account with the Central Bank and do not have overdue debt on Central Bank loans are allowed to participate in the auction. The percentage at which banks are granted loans at the auction corresponds to the current refinancing rate. The maximum period for which the Central Bank in our country provides refinanced funds is one year, and only in some cases is it longer than this period; Most often, the period for using refinanced funds ranges from one day to six months.

Finally, another part of the liabilities of commercial banks may consist of funds raised from foreign banks. The availability of such loans is usually determined by the fact that the interest rate on foreign borrowings is lower than the refinancing rate of the country's central bank. The attraction of these funds by domestic banks obviously corresponds to their interests, but at the same time damages national interests, as it causes inflation in the market.

So, borrowed funds from banks in modern conditions are formed:

- from deposits of individuals and legal entities;
- interbank credits and loans;
- funds refinanced by the Central Bank;
- funds from foreign banks.

In the total amount of banking resources, attracted and borrowed resources occupy a predominant place. Their share in various banks ranges from 70% and above. With the development of market relations, the structure of attracted resources has undergone significant changes, which is due to the emergence of new, non-traditional methods for the old banking system for accumulating temporarily free funds of individuals and legal entities, and with the emergence of the microcredit market in the resources of commercial banks, borrowed funds become important, i.e. . funds received from other banks.

In global banking practice, all attracted resources according to the method of their accumulation are grouped as follows:

· deposits,
· non-deposit raised funds.

The main part of the attracted resources of commercial banks consists of deposits, i.e. funds deposited into the bank by clients - individuals and legal entities and used by them in accordance with the account regime and banking legislation.

The bank receives non-deposit funds raised in the form of loans from other banks or by selling its own debt obligations on the money market. Non-deposit sources of banking resources differ from deposits in that they are, firstly, non-personalized in nature, i.e. are not associated with a specific bank client, but are purchased on the market on a competitive basis; secondly, the initiative to attract these funds belongs to the bank itself.

Non-deposit attracted resources are mainly used by large banks. Non-deposit funds are purchased in large amounts and are called wholesale transactions.

The structure of attracted and borrowed funds is reflected in table. 3.

Table 3. Structure of attracted and borrowed funds from credit institutions.

Facilities	To the beginning	Specific gravity, %	Dynamics for 2008-2012, %
2008, billion rubles	2010, billion rubles	2012, billion rubles	as of 01/01/2008	as of 01.01. 2010	as of 01/01/2012
1. Funds of bank clients, total
Including:
1.1 Current and current accounts
1.2 Deposits of legal entities
1.3 Deposits from individuals
II. Banking sector funds
Including:
funds received from the Bank of Russia
correspondent accounts of credit institutions
loans received from credit institutions
III. Bonds
IV. Bills of exchange and bankers' acceptances
V. Other funds raised
Raised and borrowed funds, total
Liabilities of credit institutions, total

Based on the data in the table, it can be seen that in the structure of liabilities of credit institutions, attracted and borrowed funds at the beginning of 2012 amounted to 81.4%. Over the past 4 years they have grown 2.06 times. At the same time, the share of borrowed funds decreased over the period from 2008 to 2012 - from 18.1 to 14.7%. However, their structure has changed significantly: the funds provided by the Bank of Russia in the amount of borrowed funds increased by 35.6 times, loans from other credit institutions decreased from 92.5 to 74.7%. There is a positive trend in the structure of funds raised: there is a higher increase in funds in deposit accounts of legal entities compared to balances in settlement and current accounts; the increase in household funds in deposits over the past four years amounted to 230.1%.

Modern banking practice is characterized by a wide variety of deposits and deposit accounts opened by bank clients. This is due to the desire of banks in a segmented, highly competitive market to most fully satisfy the demand of various groups of clients for banking services and attract their savings and free cash capital to bank accounts.

Attracted funds from bank clients can be classified by terms, types of contracts concluded, categories of depositors, conditions for depositing and withdrawing funds, interest paid, the possibility of receiving benefits for active bank operations, etc.

Bank client funds can be classified according to the terms of attraction as follows:

· funds in settlement and current accounts;
· funds on demand accounts;
· time deposits and time deposits.

A characteristic feature of funds stored in settlement and current accounts is their high liquidity. Funds are credited and withdrawn to such accounts as they are received or claimed by the account holders. Thus, for this group of attracted funds, the distinctive properties are that:

· deposits and withdrawals of money can be made at any time without any restrictions;
· the account holder pays the bank a commission for using the account in the form of a fixed monthly rate or as a percentage of the debit turnover on the account;
· the bank sets low interest rates for storing funds in settlement and current accounts.

Depending on the period for which the bank deposit agreement is concluded, demand deposits, time deposits and savings deposits are distinguished.

Demand deposits are represented by various accounts from which their owners can receive cash on demand by issuing cash and settlement documents. Money is credited to and withdrawn from such accounts as business and other transactions are carried out and reflected in monetary terms on these accounts. The main disadvantage is the lack of payment of interest on the account or a very low interest rate.

Time deposits represent the most stable part of deposit resources, which allows banks to provide lending for the medium and long term. A time deposit has a clearly defined term; as a rule, a fixed interest is paid on it and restrictions are introduced on the early withdrawal of the deposit. If a deposit is withdrawn earlier than the agreed period, the bank collects a fine in the amount of a pre-agreed percentage of the amount of the deposit and the withdrawal period.

The most characteristic features of time deposits:

· cannot be used for settlements, and settlement documents are not issued for them;
· funds in accounts turn over slowly;
· a fixed percentage is paid; the maximum level of interest rates in certain periods can be regulated by central banks;
· a requirement is established for the depositor to notify the bank in advance of the withdrawal of money;
· a lower rate of contributions to the required reserve fund is determined.

Savings deposits in domestic banking practice are opened only to individuals. In foreign practice, such accounts are also opened for non-profit organizations and business firms. Interest paid on savings accounts is usually lower than on time deposits.

There are various types of savings deposits opened for individuals: term deposits; urgent with additional fees; winning; monetary and material winnings; targeted, current, with prior notification of withdrawal of funds, etc. For banks, the importance of savings deposits is that with their help, unused income of the population is mobilized and converted into productive capital.

Fixed Savings Deposits: There is either a fixed term or a period during which the deposit cannot be withdrawn. On time deposits, the bank pays the highest interest rate compared to other types of savings deposits.

Savings deposit with additional contributions. A predetermined amount of money is regularly deposited into this account and the accumulated savings are paid out on a certain date (New Year's deposits, at the time of majority, etc.).

Current savings deposits allow free receipt and withdrawal of funds and are used mainly for crediting salaries, pensions, and paying regular payments. These deposits are charged a minimum interest rate. In Western practice, these accounts can be “linked” to a time deposit to automatically reinforce the balance in the event of insufficient funds to make payments on this account.

In the volume of attracted funds from bank clients, funds stored in settlement, current accounts, and demand deposits occupy a larger share, so it is important for banks to determine their constant, irreducible balance in order to use these funds for placement in active operations for long periods.

In the total amount of banking resources, attracted resources occupy a predominant place. Their share in different banks ranges from 75% and above. Raised funds from banks cover over 90% of the total need for monetary resources to carry out active operations, primarily credit. By mobilizing temporarily available funds of legal entities and individuals on the credit market, commercial banks use them to satisfy the national economy’s need for additional working capital, facilitate the conversion of money into capital, and meet the population’s needs for consumer credit.

For the most complete disclosure of the concept of attracted bank resources, it is advisable to characterize such a concept as “bank resources”. “The resources of a commercial bank are its own capital and funds attracted on a repayable basis from legal entities and individuals, formed by the bank as a result of passive operations, which are collectively used by it to carry out active operations.” Based on this definition, different authors interpret the concept of attracted resources differently, but their essence is generally the same. Thus, according to Professor G. G. Korobova: “Operations related to the mobilization of bank resources are passive operations. As a result of passive operations, commercial banks receive the necessary funds raised to finance active operations. The final results of these operations are reflected in the liability side of the bank’s balance sheet, where they act as sources of formation of its resources.”

According to the opinion of Professor O.I. Lavrushin: “Raised funds are client funds received for a certain period or on demand.”

Professor E.P. Zharkovskaya reveals the essence of the concept of attracted bank resources as follows: “The main volumes of the resource base of commercial banks are attracted and borrowed funds, which are formed as a result of the bank’s execution of operations that form its liabilities.”

The authors G.N. Beloglazova, L.P. Krolivetskaya formed the concept of attracted bank resources in this way: “Passive operations are operations to generate the resources of commercial banks. Raised funds form the predominant part of banking resources. Their size and structure depend on the bank’s client and product specialization, banking market conditions, macroeconomic situation, Bank of Russia policy and other factors.”

The main ways banks attract resources are:

· opening and maintaining current and settlement accounts of enterprises, organizations and citizens, as well as correspondent accounts of correspondent banks;

· attracting funds from individuals and legal entities to deposits;

· issuance of own debt obligations;

· attracting loans and borrowings from other banks, including the Bank of Russia.

In global banking practice, all attracted bank resources according to the method of their accumulation are grouped as follows:

1) deposits;

2) non-deposit raised funds.

The main part of the attracted resources of commercial banks consists of deposits - funds deposited in the bank by clients - individuals and legal entities and used by them in accordance with the account regime and banking legislation.

The group of deposit operations of commercial banks includes:

· demand deposits;

· time deposits;

· conditional deposits;

· savings (deposit) certificate;

· bonds;

· bank bill.

The bank receives non-deposit funds raised in the form of loans or by selling its own debt obligations on the money market. Non-deposit sources of banking resources differ from deposit sources in that they are, firstly, not associated with a specific bank client, but are purchased on the market on a specific basis; secondly, the initiative to attract these funds belongs to the bank itself.

The main non-deposit sources of attracting resources are:

· loans on the financial and interbank markets;

· loans from the Bank of Russia.

Analyzing the concept of attracted resources of commercial banks, given by leading experts in the field of economics, we can conclude that the attracted resources of a bank are passive operations, namely deposits and interbank loans, including from the Bank of Russia, aimed at increasing its resource base, aimed at stable existence and uninterrupted fulfillment of the bank’s obligations.

Operations of commercial banks to generate resources

The specificity of the resource base of commercial banks is that its main part consists of raised funds. Of these, the main share is formed by deposits, and a smaller share by other attracted funds (borrowed funds).

Deposits mean all time and fixed-term deposits of bank clients, except savings deposits. The sources of funds placed on deposits are very diverse. These are funds in the accounts of enterprises, wage accounts of workers and employees, accounts of government agencies and enterprises that are temporarily not used. From the point of view of banking technology, deposits can be divided into two groups: demand deposits and time deposits.

Demand deposits are funds that can be called at any time. Such deposits pay a fairly low interest rate. Demand deposits are intended primarily for current settlements. There are two types of time deposits: actual time deposits and deposits with advance notice of withdrawal. Actually, time deposits are returned to the owner on a predetermined day; until then they are “blocked” and the bank can dispose of them. If the amount initially invested as a time deposit is not withdrawn by the owner on the appointed day, then in the future he can dispose of it in the same way as a current account. Savings deposits typically grow slowly and are often drawn down over several years. A distinctive feature of a savings deposit is that its owner is issued a certificate of the existence of a deposit (most often a savings book).

The importance of savings deposits for the bank, and indeed the entire credit system, is determined, first of all, by the possibility of using them as resources for lending. By attracting funds from the population for a long period of time, savings deposits also act as an important factor in reducing the issue of banknotes, and thereby the overall financial recovery of the economy.

Demand deposits are the most liquid. Their owners can use the money in demand accounts at any time.

The structure of deposits in the bank is flexible and depends on money market conditions. This source of formation of banking resources has some disadvantages. We are talking about significant material and monetary costs for the bank when attracting funds on deposits, and the limited availability of funds within a particular region. In addition, the mobilization of funds into deposits depends largely on clients (depositors), and not on the bank itself. And yet, competition between banks forces them to take measures to develop services that help attract deposits.

Russian banks mainly use interbank loans and loans from the Bank of Russia from non-deposit sources. On the interbank loan market, funds held in correspondent accounts with the Bank of Russia are sold and purchased. Loans from the Central Bank of the Russian Federation are currently mainly provided to commercial banks in the form of refinancing, i.e. in fact, they are distributed on a competitive basis, as well as in the form of pawn loans. Each bank can purchase no more than 25% of the loans put up for auction. But interbank credit is the main source of borrowed resources of commercial banks, a source of funds to maintain the solvency of the balance sheet and ensure the uninterrupted fulfillment of obligations.

One of the ways commercial banks raise funds is to issue their own securities in the form of debt obligations: certificates, bills, bonds. Compared to other types of bank resources attracted, securities occupy last place.

A certificate is a written certificate from the issuing bank about a deposit of funds, certifying the right of the depositor or his successor to receive, upon expiration of the established period, the amount of the deposit and interest on it. A savings certificate is a bearer security issued in series. Savings certificates can be issued exclusively by banking institutions.

Certificate forms consist of two parts: the certificate and the counterfoil. The same series and number are printed on the certificate and the spine, as well as the amount of the deposit made to the Bank, certified by the certificate.

Savings certificates are issued in the currency of the Russian Federation. The savings certificate is urgent.

Interest rates on savings certificates are established by the Board of the Bank. Interest at the rate initially established when issuing a savings certificate, due to the owner upon expiration of the circulation period, is paid by the Bank regardless of the time of its purchase.

If the deadline for receiving a deposit under the certificate is overdue, the Bank is obligated to pay the deposit and interest amounts specified in the certificate upon the first request of its owner. No interest is paid for the period from the date of withdrawal of amounts under a savings certificate until the date of actual presentation of the certificate for payment. The bank cannot unilaterally change (reduce or increase) the interest rate stipulated in the savings certificate, established when issuing the certificate. Payment of interest on a savings certificate is carried out by the Bank simultaneously with the redemption of the certificate upon presentation.

To attract resources from the financial market, joint-stock commercial banks issue their own bonds. Commercial bank bonds are securities that certify the loan relationship between the bond owner (lender) and the bank (borrower) that issued them, and generate income for the owner. Banks can issue bonds of various types: registered and bearer; secured and unsecured; with mortgage coverage, interest and discount; convertible and non-convertible into other securities; with lump sum repayment and repayment in series within certain periods.

The procedure for issuing bank bonds is much more complex and lengthy than when issuing certificates. Only after full payment of the authorized capital can the bank begin issuing bonds. Bank bonds can be placed by selling them for Russian currency, as well as by replacing them with previously issued convertible bonds and other securities.

Interbank credits (loans) allow banks to redistribute resources among themselves. By attracting these loans, both the planned resource deficit and the unforeseen gap between them are covered.

In market conditions, bank bills are becoming widespread. A bill is a bank security that certifies the unconditional monetary debt obligation of the drawer (bank) to pay a certain amount of money to the bill holder (owner of the bill) upon maturity.

Commercial banks perform the following basic operations with bills:

1) credit transactions using bills of exchange: accounting of bills of exchange; lending secured by bills of exchange; bill lending;

2) operations for servicing bill circulation: collection of bills; guarantee transactions on bills of exchange;

3) rediscounting of bills in the Bank of Russia.

Discounting (discounting) bills means the purchase of bills by the bank before their maturity date. The holder of the bill transfers (sells) the bill to the bank by endorsement before the maturity date and receives for this the bill amount minus (for early receipt) a certain percentage of this amount, i.e. discount interest or discount. Discount is the difference between the amount indicated on the bill of exchange and the amount paid to the bill holder. Given the bill, the bank becomes its owner.

In turn, the bank, if it begins to experience difficulties in funds, can itself rediscount the bills at the Bank of Russia. Rediscounting of bills is one of the instruments for refinancing commercial banks in the Bank of Russia and is used to regulate the liquidity of banks.

A bill of exchange is a strictly formal document. It contains a list of required details. The absence of at least one of them deprives the bill of legal force.

Regulatory framework governing the activities of commercial banks related to raising funds

When carrying out operations for the formation and use of borrowed resources, commercial banks use the following legislative and regulatory documents:

1) Civil Code of the Russian Federation (part one) dated November 30, 1994 No. 51-FZ (adopted by the State Duma of the Federal Assembly of the Russian Federation on October 21, 1994), (as amended on July 27, 2010);

2) Civil Code of the Russian Federation (part two) dated January 26, 1996 No. 14-FZ (adopted by the State Duma of the Federal Assembly of the Russian Federation on December 22, 1995), (as amended on May 8, 2010);

3) Tax Code of the Russian Federation (part one) dated July 31, 1998 No. 146-FZ (adopted by the State Duma of the Federal Assembly of the Russian Federation on July 16, 1998), (as amended on November 29, 2010);

4) Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” No. 86-FZ of July 10, 2002.

5) Federal Law “On Banks and Banking Activities” dated December 2, 1990. No. 395 -1 (as amended on November 3, 2010).

6) Regulations of the Central Bank of the Russian Federation “On non-cash payments in the Russian Federation” No. 2-P dated October 3, 2002 (as amended on June 11, 2008 No. 1442-U).

7) Letter of the Central Bank of the Russian Federation “On deposit and savings certificates of banks” dated February 10, 1992 No. 14-3-20 as amended. Letters of the Central Bank of the Russian Federation dated December 18, 1992 N 23, dated June 24, 1993 N 40, Instructions of the Central Bank of the Russian Federation dated August 31, 1998 N 333-U, dated November 29, 2000 N 857-U.

In accordance with Art. 1 Federal Law “On Banks and Banking Activities”, a bank is a credit organization that has the exclusive right to carry out the following banking operations in aggregate: attracting deposits of funds from individuals and legal entities, placing these funds on its own behalf and at its own expense on the terms of repayment, payment , urgency, opening and maintaining bank accounts for individuals and legal entities.

Art. 64. The Civil Code of the Russian Federation states that when liquidating banks that attract funds from individuals, the claims of individuals who are creditors of the banks under bank deposit agreements and (or) bank account agreements concluded with them are first satisfied (with the exception of the claims of individuals for compensation of losses in the form of lost profits and for the payment of amounts of financial sanctions and claims of individuals engaged in entrepreneurial activities without forming a legal entity, or claims of lawyers, notaries, if such accounts are opened for the implementation of legally prescribed business or professional activities of these persons), claims of the organization performing the functions on compulsory deposit insurance, in connection with the payment of compensation for deposits in accordance with the law on insurance of deposits of individuals in banks and the Bank of Russia in connection with the implementation of payments on deposits of individuals in banks in accordance with the law.

According to Art. 835 of the Civil Code of the Russian Federation, the right to attract funds on deposits belongs to banks that are granted such a right in accordance with a permit (license) issued in the manner established in accordance with the law. If a deposit is accepted from a citizen by a person who does not have the right to do so, or in violation of the procedure established by law or banking rules adopted in accordance with it, the depositor may demand immediate return of the deposit amount, as well as payment of interest on it and compensation in excess of the amount of interest of all losses caused to the investor.

If such a person accepts funds from a legal entity under the terms of a bank deposit agreement, such an agreement is invalid (Article 168).

In accordance with Art. 214.2. Tax Code of the Russian Federation in relation to income in the form of interest received on deposits in banks, the tax base is defined as the excess of the amount of interest accrued in accordance with the terms of the agreement over the amount of interest calculated on ruble deposits based on the refinancing rate of the Central Bank of the Russian Federation, increased by five percentage points valid during the period for which the specified interest is accrued, and for deposits in foreign currency based on 9 percent per annum.

In Art. 46. Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” The Bank of Russia has the right to carry out the following banking operations and transactions with Russian and foreign credit organizations, the Government of the Russian Federation to achieve the goals provided for by this Federal Law:

1) buy, store, sell precious metals and other types of currency assets;

2) conduct settlement, cash and deposit operations, accept securities and other assets for storage and management;

3) issue sureties and bank guarantees;

4) carry out transactions with financial instruments used to manage financial risks;

5) issue checks and bills in any currency;

6) other operations, in accordance with the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”.

The Bank of Russia also has the right to carry out banking operations and other transactions with international organizations, foreign central (national) banks and other foreign legal entities when carrying out activities to manage Bank of Russia assets in foreign currency and precious metals, including gold and foreign exchange reserves of the Bank of Russia.

The presented regulations are the main list of legislative documents that regulate the activities of banks in raising funds.

The first chapter examines the essence of the attracted resources of commercial banks, provides definitions of the attracted funds of leading economic experts, on the basis of which our own understanding of the bank’s attracted funds was formed. The main operations that form the resource base of a commercial bank are presented. Of these, the main share is formed by deposits, and a smaller share by non-deposit raised funds.

Bank borrowings include: Attracted (borrowed) funds from banks

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Borrowed facilities, their contents and basics of use

Attracted (borrowed) funds from banks