Obligations facilitate the proper implementation of the new Central Bank directive

In April of this year, the Central Bank, citing the Budget Law of 1401, addressed the banking network, emphasizing that from now on, granting a line of credit or overdraft will be possible only by obtaining collateral. The communiqué states that banks and non-bank credit institutions that currently have overdrafts should deposit collateral, including currency, gold and securities, with the Central Bank, and if the overdraft of the bank or non-bank credit institution is not settled, the container Within a specified period, the central bank will sell the securities and settle its claims.

Yousef Kavousi, a banking expert, said in an interview with IBNA: “The new procedure of the Central Bank means the payment of facilities. These facilities are either an obligation to buy bonds or stocks or are done on any other basis.” When banks have no resources, they enter the interbank market every night, where some banks have extra money and some have little money, with the latter group receiving their deficits from the bank that has the surplus. If this source does not exist, they come to the central bank to cover the deficit, which is called overdraft. The central bank has its own rules and regulations in this regard and calculates its interest rate. Of course, at times this rate was accompanied by heavy fines and even increased to 36% because the banks were not very willing to enter this path, but later due to problems that occurred in the financial markets and stock exchanges, about 19 to 20 The percentage fluctuated.

By obtaining collateral from banks by the central bank, things are regulated

He added: “The new communiqué emphasizes that if banks are to have overdrafts, they must provide collateral.” This is a good thing if it is done properly, because it would mean that banks would pledge the shares or bonds purchased at the time of overdraft, or even bonds issued by the central bank, the program organization, municipalities or elsewhere. Or consider the banks’ own shares as collateral and receive money from the central bank in return. Of course, in order to settle, it must be determined at the same time that they will pay the interest rate if it is done, and if this does not happen, the documents will be confiscated. The securities and securities obtained by the central bank are less than the nominal amount, so that if the shares fall lower, the central bank will not be harmed and the bank will not declare that the value of the shares is a certain price and its cash is the responsibility of the central bank. Suffers losses.

“The right thing to do, which was emphasized above, was that when banks are required to provide low-interest lending facilities, when they do not have enough resources and are forced to carry out the tasks of government and parliament,” he said. This communiqué may not be effective in the true sense of the word. Of course, it is possible that it will operate in private banks and perhaps to some extent non-governmental banks whose shares have been transferred, but in state-owned banks such as Melli or Sepah, which have been assigned heavy duties, the situation is different. In this sense; These banks have a deal with the central bank, that is, they start the government today, tomorrow they have to receive help from another source, and this is where the policy of the Ministry of Economy interferes with the central bank and causes problems.

In this regard, Kavousi emphasized: the implementation of granting credit lines or overdrafts by obtaining collateral will lead the country to reduce money creation, and as a result, those actions will be regulated. Of course, this was done before this government, its bylaws and its expert work, but it was not operational, now these notifications have been done, and we hope to see the effects in the reports that will be published in the next quarter and six months.

Banking network managers test is a good regulatory task

He also stated about the banking network managers’ examination circular: requiring management candidates in the banking network and passing specialized exams; This is something that has been worked on for many years, and according to the supervisory principles of Basel I, II and, more recently, Banking network managers are required to take the qualification test. These directors consist of the board of directors, the managing director, the deputy managing directors and even the lower classes. In the past, in relation to money laundering and the risk of doing so, every bank was required to have a money laundering committee or anti-money laundering committee. It assessed the qualifications of these individuals and, if necessary, took a test of these, which could be in writing or in the form of an interview, although this was mostly done by interview, after which the results were announced to the banks. , Four people are qualified and they were sentenced as members of the anti-money laundering committee or members of the risk or compliance committee, etc.

Regarding the new directive, the banking expert said: “The exam is to be extended to the issues of the board members.” In this case, there has long been a committee as a supervisory committee in the central bank that still exists, in which people who were introduced to the board of directors of the banks were interviewed. (The board of directors of banks, due to the existence of shares in some institutions, companies and institutions such as the municipality, the Martyr Foundation, the executive headquarters, etc., introduces people who are sometimes not bankers and pressured the central bank to approve them.)

Regarding the reasons for this test, Kavousi explained: “It is clear that when there is no specialization and they are based on the relationships of individuals, the output will not be favorable.” Issues such as conflicts of interest and the provision of facilities to the bank’s subsidiaries with the signature of the board of directors were among the cases that occurred and brought some banks to the brink of bankruptcy. Therefore, this central bank test is a good supervisory task for board members and managers if it is implemented properly and is very important for prevention. Because with this happening, we will see that in the following years, when the balance sheet information of the banks is published, it will not be bankrupt and they will not have enough capital.

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