Irrevocable deposits in the Russian banking practice: new challenges and opportunities

This article discusses one of the main problems of the domestic banking system, namely the extremely low for long-term attracted resources. The article points out the peculiarities of the Russian legislation, allowing depositors to withdraw term deposits on demand before the expiration of their term. Describes banking crises as a result of the massive withdrawals of deposits. The example of foreign countries in which early withdrawal of deposits is not practiced is given. The essence of the German model of mortgage lending based on irrevocable deposits is revealed. The possibility of introducing such deposits into the Russian banking practice is considered. The conclusion is made about the prospects of using this tool in the Russian Federation.