JSC " ASB Belarusbank"and included in bank holding company UE "ASB Broker" occupy a leading position in the securities market of the Republic of Belarus and are ready to provide clients with a full range of services related to transactions on this market:

From 03/01/2019 in connection with the entry into force of the resolution National Bank of the Republic of Belarus dated December 19, 2018 No. 612 “On some issues of conducting foreign exchange transactions» with physical and legal entities for bonds denominated in foreign currency.

By choosing OJSC "JSSB Belarusbank" you can count on:

• extensive experience in the market;
• profitability at attractive rates;
• highly qualified securities specialists;
• comprehensive service;
• the country's largest network of service points.

Special permit (license) No. 02200/5200-1246-1089 for the right to carry out professional and exchange activities in securities, issued by the Ministry of Finance of the Republic of Belarus on April 10, 1996.

FAQ

What is a bond?

A bond is a debt security that certifies the right of its owner to receive the bond from the issuing company in stipulated period its nominal value, as well as the income determined in it.

In what form are bonds issued?

Bonds can be issued (issued) in documentary (on special forms) or non-documentary (in the form of entries in accounts) forms.

Where can I get acquainted with the parameters and conditions of bonds?

All information on bonds is contained in the Issue Prospectus, including: information about the bond issuer, its financial condition and development plans, information about the security of bonds, the rate of return on them, the procedure for their placement, the rights and obligations of the issuer and investor, as well as other information, the composition of which is established by law. The issuing company, as a rule, places issue documents on the Unified Financial Market Portal, its own website and/or at points of sale.

What is bond placement?

Bond placement is the sale of bonds to their first owner.

What is bond circulation? What is the difference between the circulation of documentary and uncertificated bonds?

Circulation of bonds is the execution of civil transactions entailing the transfer of rights to bonds from their first or each subsequent owner to another person. The circulation of documentary bonds is carried out by simply transferring the bond from one owner to another. The circulation of uncertificated bonds is carried out by the parties concluding agreements for the purchase and sale of bonds in trading system OJSC "Belarusian Currency and Stock Exchange" using, or on the unorganized (over-the-counter) market with a mandatory transaction with a professional participant in the securities market.

What is the current value of a bond and how is it calculated?

The current value of a bond is the value of a bond on a specific date during its circulation period. The current value of the bond = the par value of the bond + the accumulated income on it on the date of purchase. Those. Every day the bond becomes more expensive by the amount of interest “accumulated” over the past day. The procedure for calculating the current value of a bond is established by the Issue Prospectus.

How is the yield on a bond calculated?

The procedure for calculating the yield on bonds is established by the Issue Prospectus.

What should I do if I lost a documentary bond of JSC ASB Belarusbank?

In accordance with Art. 149 Civil Code of the Republic of Belarus, restoration of rights to lost bearer bonds is carried out by the court in the manner prescribed by procedural legislation. The specifics of consideration of cases on the restoration of rights under bearer bonds are defined in section 8 of the Civil Procedure Code of the Republic of Belarus (hereinafter referred to as the Civil Procedure Code).

If a bearer bond is lost, the person who lost the bond must apply to the court at the location of the bank that issued the bond with an application for restoration of rights.

By virtue of Art. 385 of the Code of Civil Procedure, when initiating a case in connection with the loss of a bearer bond, the judge, in order to prepare the case, issues a ruling prohibiting payments and issuance under it, which is immediately sent for execution to JSC JSB Belarusbank.

After the court makes a ruling on the restoration of rights under the lost bonds, the person who lost the bond must contact the bank institution where the lost bond with the above determination was purchased. Based on the received court ruling on the restoration of rights under lost bonds, the bank institution makes payments due on them Money(face value of the bond and uncollected interest income) in accordance with the terms of redemption (early redemption) of bonds defined in the Bond Issue Prospectus.

What is a bond? This is a debt security in which the issuer (the one who issued it - a bank, company or government) agrees to pay the buyer the face value of the bonds and interest on them in the future. There are two types of bonds: discount and interest (coupon). In the first option, the income consists of the difference between the purchase price of the bond and its face value, that is, the redemption price. You buy a paper with a face value of 1000 dollars for 900. After some time, the issuer gives you 1000. And 100 dollars (discount) now becomes your income.

Interest-bearing bonds have a completely different operating principle - more similar to Bank deposit. You buy paper at par on the first day of placement or at the current (contractual) value on subsequent days, and the issuer pays you a specific interest income on the par value at a certain frequency. When the time comes to repay the bond, you will be finally paid the interest and the face value of the paper will be returned.

In our country individuals Usually they offer interest-bearing bonds. Banks, companies and organizations, as well as the state can issue such securities.

In addition to high interest rates, bonds also come with additional expenses.

According to Deputy Director of the Treasury of Alfa-Bank (Belarus) Sergei Smolyakov, there are no fundamental differences between deposits and bonds. These are all means of saving money and generating income. But they are sold differently and are regulated by different laws. In addition, the return of the deposit is guaranteed by the state, and bonds are issued “on the word of honor” of the issuer.

However, there is an important advantage of bonds compared to deposits - you do not have to pay taxes on the income received. Securities issued from April 1, 2008 to January 1, 2015, as well as from July 1 to December 31, 2015, are exempt from this. In the future, the attractiveness of the savings instrument will depend on whether Presidential Decree No. 279 will be extended, as well as on what changes will be made to the Tax Code.

When a client comes to the bank, he has the opportunity to buy a documentary or uncertificated bond. The first is a form with degrees of protection and “coupons”. " Sometimes they really get cut off- says Sergei Smolyakov. — More often they are simply marked with redemption notes. It's simple: you come to the cashier, deposit money, they give you paper».

This is a very convenient option for saving: such bonds are usually “bearer”, that is, no one will ask for your personal data. But this only works when buying securities at small amounts- up to 1000 (from January 1, 2016 this will be 210 million rubles). And of course, such papers, like money, can be lost.

More reliable are book-entry bonds. It is impossible to lose them. But you will have to pay for guarantees. Essentially, this security is just an entry in your custodial account. To get it, you need to open a “depository” account and pay a few more commissions.

Using the example of the state Ministry of Finance (with an annual rate of 7%), we looked at what expenses are associated with the purchase of securities.

« In addition to the deposit account, it is necessary to conclude an agreement with a broker, since the placement of the issue is carried out on the stock exchange,- says manager brokerage activities UE "ASB Broker" Marina Maksimovich. — The cost of the service for opening a “depo” account in different depositories differs. In Belarusbank, for example, it costs 80 thousand Belarusian rubles. Broker fees can also vary significantly. Our commission is 0.02% of the transaction amount, but not less than 250 thousand».

Roughly speaking, when buying 13 bonds (each with a face value of 5 thousand dollars) or less, you need to pay 250 thousand. If 14 or more, then - 0.02% at the National Bank rate. " For example, when purchasing bonds worth $100 thousand, the income that the bond owner will receive will be about $1,700 per full interest period(3 months), and our commission will be only $20. Agree that this is not significant", Marina Maksimovich clarified. Income tax at such interest on the deposit it would be equal to $221, that is, 11 times more.

But the costs don't stop there. You also need to open a foreign currency account so that interest can be credited to it. IN in this case it's free. Same as cash withdrawals. But banks can set fees for these services. And some depositories sometimes charge additional money for recording bonds, that is, for keeping a record of them.

You can make a profitable short-term “investment” from a security

As he says Chief specialist of the department of operations in financial markets of the treasury of Alfa-Bank (Belarus) Evgeniy Shevchuk, « you should understand that the time has come when you need to learn to take care of your finances" And to choose what will really be beneficial for you, you need to work. Separately, it is worth understanding the timing of investments.

The deposit has a specific period. When the contract ends, either there is a renewal, or nothing happens, or the money is automatically transferred to the client’s account. A bond is a long-term borrowing instrument. Issuers are trying to place securities on long term and return the money someday later.

But bonds are issued with an offer, or an unconditional obligation of the issuer to buy back all or part of the securities from the holder on a certain date. True, they do this only at the request of the investor (and sometimes you need to write it a month in advance). Still, this gives a person the opportunity to return his money ahead of schedule. And if you guess with the dates, you can actually get short-term deposit with a good rate and the ability to withdraw funds, which bank deposits will no longer offer.

Let's compare. Let's say you have 10 thousand dollars that you want to save and grow. Now revoked foreign currency deposit with a rate of more than 4% per annum. Bonds offer up to 10% per annum. In the case of a deposit, you will receive 400 dollars in a year plus another 10-20 taking into account capitalization. If you buy a bond, you can earn up to $1,000. The difference is 600 "green", and even if we assume that all commissions when buying bonds will cost 50 dollars, the benefit is obvious. And if you withdraw your deposit early, you will most likely receive income at a reduced rate. You can sell a bond to the issuer ahead of schedule, for example, every 6 months without any sanctions.

In addition, in exceptional cases, you can try to negotiate with the issuer to repurchase bonds at an unspecified time. As a rule, if possible, they accommodate the client halfway.

What guarantees do non-government bonds have?

Many are scared off by the fact that there is no law according to which invested funds must be returned in any case. And if the Ministry of Finance bonds are not repaid only in the event of a state default, then in order to “get money” when purchasing corporate securities (which are issued by banks or companies), the bankruptcy of a legal entity will be sufficient.

« Yes, the state does not guarantee payments on bonds, but even in this case there may be fairly reliable security", assures Manager of the company "Sigmapolyus" Yulia Askerko. This development organization also has its own securities this year. There are three types of security: insurance, surety of legal entities and collateral (usually real estate).

« In our opinion, the most reliable type of security is a real estate pledge. Insurance leads to additional costs for the issuer, therefore the interest rate will be lower. A guarantee is also not the best type of security in this case, because the guarantors may experience difficulties with the business, which will lead to a decrease in solvency. After all, such organizations, by and large, have no significant restrictions - they took and sold all their property, for example“, says Yulia Askerko.

Of course, you can monitor the “health” of an enterprise quarterly using the reports of the Ministry of Finance and see in time that something is wrong with the issuer. But if it comes to bankruptcy, it is better to have collateral. Then it will be sold to pay off the debt. This collateral is “tied” by the bond issue. You can’t just sell it or do anything else with it. Other creditors are not entitled to it.

« We have pledged, for example, about 8% of our real estate", the company manager clarifies.

For an organization, by the way, issuing bonds is a type of raising financing. We can consider this a replacement bank loan. Therefore, if you trust the company, then why not invest?

The only drawback is that individuals cannot require more information than what should be in the prospectus. And not all indicators are included there. So there is always a risk. But the rate is usually higher in bonds.

And one more pitfall: according to Yulia Askerko, potential investors should take into account that sometimes the company takes on part of the commissions that are associated with the issue, sale and placement of bonds. " At early repayment holder securities may force some of them to pay" It's better to discuss everything in advance.

“Bonds will not replace deposits, but now the securities will be of interest to some investors”

Evgeniy Shevchuk believes that bonds will not be able to replace deposits, but there is a certain number of depositors who will be interested in this savings instrument.

« In general development financial market It is beneficial for banks, because after changing the conditions for deposits, they will be afraid of a decrease in liquidity due to the outflow of deposits. We will need other ways to attract money to the bank.", says the expert.

But bankers consider the decision to differentiate deposits into revocable and irrevocable to be correct. " This should have been done a long time ago. Before this, all our deposits were essentially on demand: you could always return them within five days. How can you grow your active base in such conditions and issue loans? This is why it is developed all over the world stock market that there are no such attractive short-term deposits».

Comparison of deposits and bonds
Criterion	Deposits	Bonds
		State	Corporate
Reliability (return guarantee)	guaranteed by the state	guaranteed by the state	guarantee of legal entities or insurance
Early withdrawal\repayment	Early return possible low rate	You cannot repay early, but it is possible to provide bonds for mandatory repurchase to the issuer several times a year (offer)
Tax on interest income
Opening/purchase commissions
Convenience	fast and affordable	labor-intensive, requires high financial literacy
Savings currencies	US dollars, euros, Russian and Belarusian rubles
Minimum investment amount	usually 100 dollars or euros, as well as 1 million Belarusian rubles	Limited by the denomination of the security (for example, 1 or 5 thousand dollars)
Interest capitalization
Anonymity	personal information is always required	When issuing documentary papers “to bearer” there is the possibility of anonymous savings
Possibility of sale or donation		Through a stock exchange (but due to the underdeveloped financial market this is unlikely) or in person (bearer paper)