FOREIGN EXPERIENCE OF PLACING FUNDS OF INDIVIDUALS AND LEGAL ENTITIES ON BANK DEPOSITS

Abstract

The purpose. The work is dedicated to the analysis of the peculiarities of placing funds of individuals and legal entities on bank deposits in foreign countries in order to use the acquired results in domestic practice. Methods. In the process of writing the articlesuch methods as method of theoretical generalization, method of economic analysis withthe usage of a graphical method, as well as methods of comparison, systematization and logical generalizationwere used. TheResults.In thearticle the approaches to pricing of deposit products in commercial banks of foreign countries were decomposed by analyzing the dynamics of interest rates on deposits of individuals and legal entities during 2020-2021. The presence of both positive and negative interest rates on deposit products was defined. Thus, during the analyzed period, commercial banks of countries of the European Union offered legal entities to open accounts with a rate from -0.5% to 0.86%, and individuals – from -0.22% to 1.56%. The main types of deposit products offered by commercial banks for individuals were identified. Thus, the authors present and describe the following types of deposits: savings, term and indexed deposits, deposits opened remotely for individuals that are moving to the country for permanent residence or study, deposit products for customers of VIP segment, newborns, and deposit products with registration of the certificate of deposit. The peculiarities of taxation of deposits of individuals in the countries of the European Union were outlined and the absence of taxation of deposits in the Eastern countries was revealed. The current deposit insurance systems of individuals and legal entities in the countries of the European Union and in the United States of Americawere analyzed and a comparison with the existing domestic system was made. The practical significance. The results of the study of deposit activities of foreign commercial banks can be used by commercial banks of Ukraine in developing deposit products and improving existing deposit policy, as well as by scientists, specialists and graduates from higher education institutions in future research on deposit activities of commercial banks.