In December 2020, individuals placed funds in bank deposits in the amount of 1.6 trillion rubles, showing the largest monthly growth over the past two years (4.9% mom). The growth of deposits at the end of the year is a statistically confirmed fact, but there were doubts that citizens would have enough free funds to actively invest in deposits.
The annual increase in funds on deposits for 2020 still decreased compared to 2019 (4.2% versus 9.7%), but for the crisis year, maintaining the growth is a good indicator.
Comparing this data with the stock market, securities are still far from being the main vehicle for placing investment money. According to the Moscow Exchange, for the entire 2020, individual investments in shares amounted to 301 billion rubles, in bonds – 617 billion. In fact, the number of open deposits in December is almost 700 billion rubles more than the entire annual volume of individual investments in the stock market.
In this context, the excessive concern shown by the Central Bank, trying to protect investors from potentially wrong decisions on the stock market, is not understandable. Such a colossal difference between new deposits and new investments shows that citizens perfectly feel the difference between deposits and financial market instruments, in particular bonds.
However, it is the regulator’s full right to choose which of the groups of individual investors to protect (illiterate investors who lose money on misseling or literate ones seeking to earn additional profitability). Who tries to behave conservatively.
Author: Ilya Grigoriev