Page 131 - RusRPTApr23

such a low level was 8 years ago. In turn, the share of overdue loans in the retail portfolio slightly increased from 4.1% to 4.2% in 2022.
8.1.5 Liquidity, NIMs & CARs
In February, the portfolio of debt securities decreased (-RUB38bn rubles,
or -0.2%) due to the repayment of corporate bonds in the amount of ~RUB200bn rubles, as well as negative revaluation (~RUB40bn rubles) against the backdrop of weakening ruble. At the same time, banks purchased new OFZ issues in the amount of ~RUB200bn rubles. In February, the issuing activity of the Russian Ministry of Finance increased slightly compared to January, it was placed OFZ for RUB276bn rubles. More than 80% of the placed securities were with a constant coupon income (OFZ-PD).
Ruble liquidity reserve (cash, requirements for Bank of Russia and unsecured market collateral) in February grew by RUB1.0 trillion rubles, despite the growth in credit portfolio for RUB1.2 trillion rubles. This was mainly facilitated significant inflow of client funds and issuance of securities securities (+RUB1.4 trillion rubles), as well as raising funds from the Bank Russia under non-market security (utilized RUB0.5 trillion rubles).
The total volume of ruble-denominated aircraft amounted to ~RUB18.9 trillion rubles. - This an adequate level sufficient to cover 26% of client funds in rubles and 58% of funds of individuals. Another RUB8.6 trillion rubles, sufficient to cover 12% of customer funds, banks can borrow from the Bank of Russia on the security of non-marketable assets. Thus, the available sources of ruble liquidity cover up to 37% of customer funds in rubles.
FX liquidity reserve ($60bn) also is at an adequate level, covering ~49% of funds clients and 29% of foreign exchange liabilities.
8.1.7 Banks specific issues
According to preliminary data, the mortgage increased in February by 1.5% after the traditional slowdown for the beginning of the year (+0.6% in January), but the rates are still below the monthly average for 2021 (+2.3%) .
Issuance of mortgages with state support also began to recover from the January slowdown – to 209 from RUB128bn rubles (+64%) .
“Family mortgage” became the most popular in February after changes at the beginning of the year in the conditions of the main state programs (rate for "Preferential mortgage" increased to 8% from 7%, "Family mortgage" extended to all families with two children under 18 (previously the program was only available to families with a child, born after 01.01.18) - payouts for it increased by 1.8 times - to RUB100bn from RUB56bn rubles. "Preferential mortgage" in February was issued for RUB90bn rubles. (RUB62bn rubles in
131 RUSSIA Country Report Russia April 2023 www.intellinews.com