‘The need for restructuring of the banks’ liabilities was more than once brought into the limelight by many leading experts and heads of central banks in plenty of large countries,’ Finam Investment Bank’s Analyst Vladimir Sergiyevskiy said to UrBC.

‘The actual chances of doing so, however, are very scarce. What is more, if the decision is forced upon the banks by the authorities, the consequences will be so grave that no politician will ever dare assume this responsibility. Besides, measures taken by the American and European monetary authorities do not provide for any natural restructuring. To make matters worse, there is no counting on the banks’ strategic planning that could compel them to reconsider their liabilities,’ he added.

‘I don’t think banks will give up on mortgage bonds soon. The fact that the U.S. Government agreed to back up their citizens’ mortgage loans proves that these bonds are essentially more dependable than one used to think. Yet the ratings of other portions of America’s external debt could still go down. In addition, the growing profitability of American state bonds and the weakening of the dollar both mean that the marker players are changing their minds in terms of how to assess these bonds,’ Mr. Sergiyevskiy observed.

‘Speaking of the policies banks could adopt to make bank deposits more appealing to natural persons, one should bear in mind that banks are competing fiercely for private customers’ money but are still finding it difficult to entice new customers by offering better terms. One reason for this is that the banks that can afford to offer better terms are those with the largest shares of the market anyway. This means that people’s money will mainly be attracted through the bond market,’ he noted.