Deposit rates, Eurobond coupons, Fed meeting:

Top 10 deposit and savings rates digest. RUSSIAtoday must pay interest on Eurobonds worth $117 million. The Fed is expected to raise the key rate. notable events, How exchanges work On March 16, the Bank of Russia decided not to resume trading in shares on the Moscow Exchange from March 14 to 18. Transactions in the currency, money markets and the precious metals market will take place from 10:00 to 19:00 Moscow time. SPB Exchange plans to start trading in the mode intended for private investors no earlier than 16:00 Moscow time. The site will update the information today during the day on its website.

Why trading in shares on the Moscow Exchange is closed: reasons, risks and prospects Investments , Moscow Exchange , Central Bank , Shares

Top 10 rates on deposits and savings accounts

The average rate of the 54 largest deposit banks on deposits for a period of one year in the amount of ₽100 thousand as of March 16 is 9.52% per annum, according to the FRG100 index.

The most favorable deposit rate as of March 16, 2022 is 25% per annum.

Top 10 banks with high effective rates on deposits and savings accounts as of March 16, 2022:

Tavrichesky Bank - up to 25.10%; Sinara - up to 25%; Sovcombank - up to 25%; Post Bank - up to 25%; Novikombank — up to 25%; Ural Bank for Reconstruction and Development - up to 24%; Promsvyazbank - up to 24%. VTB — up to 24%; SBI Bank - up to 23.50%; Fora-Bank — up to 23.50%;

Source: Banki.ru financial marketplace (the effective rate is calculated according to the Banki.ru methodology and is not an offer, detailed conditions are in credit institutions).

New economic sanctions against Russia The European Union has introduced the fourth package of economic sanctions against Russia. Among them:

— a ban on new investments in the Russian energy sector;

— a ban on the supply of European equipment for the energy industry;

- a ban on the EXPORT to Russia of European luxury goods, the cost of which exceeds certain thresholds;

— an embargo on imports into the EU from Russia of many commodity items from the categories “ferrous metals” and “products from ferrous metals”;

- a ban on transactions with Russian state-owned companies from the list, which included, in particular, oil companies.

In addition, the EU has included in the sanctions list such major Russian businessmen and leaders as Roman Abramovich, German Khan, Viktor Rashnikov, Alexei Kuzmichev, Suleiman Kerimov, President of the RSPP Alexander Shokhin, HEAD of Yandex Tigran Khudaverdyan. The sanctions imply the freezing of assets in the jurisdiction of European countries and a ban on economic relations with European companies.

New EU sanctions. What is important to know

Russia's retaliation Russia has imposed sanctions on 13 Americans, barring them from entering the country. The stop list included: President Joe Biden , Secretary of State Anthony Blinken, White House Press Secretary Jen Psaki, former US Secretary of State Hillary Clinton. At the same time, the Foreign Ministry noted that Russia does not refuse to maintain official relations if “they meet national interests,” and, if necessary, “will solve problems arising from the status of persons who appear on the black list in order to organize high-level contacts.” Coupon payments on sovereign debt

On Wednesday, March 16, the payment of interest on Russian DOLLAR bonds should take place. Earlier, the Ministry of Finance instructed an American correspondent bank to start paying coupon income on foreign loans maturing in 2023 and 2043 for a total of $117.2 million.

However, due to the blocking of the Central Bank's reserves and restrictions on foreign exchange transactions, agent banks may not process the payment. In this case, the department will make a payment in rubles at the exchange rate of the Bank of Russia on the day of payment.

“Such conditions are not provided for by the issue documentation, so formally this can be recognized as a default   . At the same time, in fact, the country has all the resources to service its obligations and is ready to fulfill them, ”said the experts of BCS World of Investments.

If Russia defaults, there is technically a 30-day period that gives it until April 15, 2022 to pay coupons.

“Statements that Russia cannot fulfill its obligations under the public debt do not correspond to reality. We have the necessary amount of funds to service our obligations. The freezing of currency accounts of the Bank of Russia and the Government of the Russian Federation can be regarded as the desire of a number of foreign countries to organize an artificial default that has no real economic grounds,” said Finance Minister Anton Siluanov.

Fed meeting

The two-day meeting of the US GMS Open Market Committee (FOMC) will end today. It is expected that at 21:00 Moscow time the regulator will announce a decision on the key rate.

“For many, the meeting is likely to be the culmination of all those events, forecasts and expectations that have dominated the market since the beginning of 2022. If earlier the market was ready to accept the idea of ​​raising the rate by 50 basis points at once, now the most likely scenario is a 25 basis point increase, taking into account the events unfolding in Ukraine and the risks associated with them for the global economy,” the financial analyst said. group "Finam" Ksenia Lapshina.

The expert believes that if Jerome Powell's rhetoric turns out to be quite hawkish, the correction   in the US stock market may intensify.

Fed Chairman Jerome Powell will hold a press conference at 21:30 Moscow time.

BCS World of Investment experts suggest paying attention to the Fed's statement and Jerome Powell's subsequent speech. “Due to the increased geopolitical risks, a reduction in the forecast for economic growth is likely. The focus is on the regulator's assessment of the observed surge in inflation. Rising consumer prices, in theory, encourage a more rapid curtailment of stimulating monetary policy, ”wrote Vasily Karpunin, an expert at the investment company, in a morning review.

Last day to buy shares for dividends and other important events

Spirit Aerosystem: last day to buy shares at a dividend of $0.01 per share; due date is April 8th.
Walmart: last day to buy shares at a dividend of $0.56 per share; due date is April 4th.
Albemarle: last day to buy shares at a dividend of $0.40 per share; due date is April 1st.
Enel Russia : IFRS results for 2021.

Negotiations between Russia and Ukraine will continue. Turkish Foreign Minister Mevlut Cavusoglu will arrive in Moscow on March 16 for talks with his Russian counterpart Sergey Lavrov. An extraordinary meeting of NATO defense ministers will be held in Brussels. The US Energy Information Administration (EIA) will publish data on oil reserves in the US - 18:30 Moscow time. The IEA will release a monthly report on the oil market. March 16 will resume trading in nickel on the LME. The maximum daily price change will be limited to 5% (instead of 15% for other metals). How the previous trading session ended S&P 500 : 4262.45 (+2.14%) DOW JONES Industrial Average : 33544.34 (+1.82%) NASDAQ Composite: 12,948.62 (+2.92%) Default (from the French de fault - due to fault) - a situation that has arisen when the borrower fails to fulfill obligations to pay or service debt. A default is the failure to pay interest on a loan or a bonded loan, as well as non-repayment of the loan. It is worth highlighting a technical default - a situation where the fulfillment of obligations was only a temporary delay in payments, as a rule, due to circumstances beyond the control of the borrower. A default serves as a basis for a creditor to file a bankruptcy claim against the borrower Change in the exchange rate of shares or currencies in the direction opposite to the main trend of market prices. For example, the growth of quotations after a weekly decline in the price of a share. The correction is caused by the execution of stop orders, after which the movement of quotes resumes according to the main market trend.