The Ministry of Finance is preparing two major changes in the building society. Since 2013, it wants to introduce the use of state support only for housing, and from 2015 it will also offer the product to universal banks.
The amendment was submitted by the Ministry of Finance at the end of July to a commemorative woman, who is also supported by the Association of Czech Building Societies. The main benefit should be the level of new contributions really only and only for housing, sending competition and overall stabilization in the market.
Don’t be afraid of limited use of pension savings
Given that the need to use a pension for housing will not apply to the entire savings, but only to the support, neither clients nor building societies may suffer. “The funds invested by the employee himself, and the evaluation of the years, will continue to be spent on any el, as is now the case,” said Michal urovec from the Ministry of Finance.
Proof of this will be a maximum of two thousand crowns for each year of savings. If you use the contract to the maximum, you will have to live for less than 20 thousand crowns, and this is not a problem every day. In addition, even if the change also affects existing contracts, the effectiveness of the support will be proven from 2013. For example, when the contract is concluded this year, you will be able to apply for anything for 2011 and 2012, and only here for 2013 (written in spring). 2014) on financial housing.
Because of this, people are unlikely to give up an otherwise suitable building society. After all, according to surveys, leaders in the Czech Republic and other countries in most countries invest the same benefits from building societies. In Germany, for example, clients used 90 percent of their pensions even after the deadline.
will bring only outside the administration
According to representatives of building societies, there are no changes to these changes. “We believe that changing the conditions would overwhelm the time-tested building savings system. Increase the administrative burden for both the client and the building society and the Ministry of Finance itself, ”says Zdenka Blechov from Stavebn spoitelny esk spoitelny (Buinky).
If the disputes are expected to be spent on administrative expenses associated with the evidence, Rostislav Trvnek, a representative of the Eskomoravsk stavitelny (Liky), thinks.
Kind of a change in the banks, savings banks are fighting
“The amendment will bring universal banks the opportunity to expand their portfolio with a building society product from the beginning of 2015. If the bank takes advantage of these opportunities, new providers will be offered to clients, ”the Ministry of Finance defends the change.
Stavebn spoitelny tovid in a different way. First, so that they can pay them to clients if necessary. Therefore, they cannot put them into more risky and long-term tools that would make a lot of money. Banks could afford it, so they would make so much money on building society deposits.
In addition, if the state looks to support in the future, building society could have liquidity problems. They would not have pensions for immediate payment to clients who would decide to terminate the loan. On the other hand, banks have enough pensions from other activities, so according to the ministry, such pressure on the client would cease far away. And logically, this discrimination aroused fear among savings banks and the dream of fighting change.
A reliable statement that the system is stable
“The competition is not afraid. We see the problem elsewhere. The building block system has been more stable for many years in many countries. Its principles include a limited restriction on the way clients manage their deposits. And according to the proposed proposal, banks would not have to live with this basic rule. It is never good to change the rules of the game too often. There have been recent changes to the building society, and now it would be necessary to leave the system time for stabilization, ”says Ondej Kvasovsk from Raiffeisen stavebná spoitelna.
“The amendment provides banks with a competitive advantage. This will lead to a fundamental inequality between building society providers. In relation to building societies, the amendment is disproportionate, ”says Rostislav Trvnek from Lika. And he added that during the recent financial crisis, the building society proved to be a fundamental way in its systems of preference. In countries where the building society works, clients have not lost anything in their disputes. Bank clients, on the other hand, found themselves in different ways.
The building society has proven solid foundations, so in terms of vry. ”And this benefits the stability of the entire financial system. Stability is the reason why you are inspired by the building system in many countries. The principle of specialization of the building society provides two people with the security of the most secure financial system in the world. Unfortunately, the amendment to the bill goes in the opposite direction, ”adds Rostislav Trvnek.
Andreas J. Zehnder, CEO of the European Association of Building Societies, also discusses with the representatives of Czech building societies, according to which the proposed changes will lead in fact to the liquidation of the entire building society system in the Czech Republic. “The decision is made in parliament and we can hope that the deputies will remain reasonable,” Zehnder hoped.
Banks are now cautious in their reactions
The emergence of large banks, which have their own building society, are practically toton. “So far, this proposal has not gone through the legislative process, so we consider the comment to be timely at this time,” said Monika Klucov from Komern banka. Representatives of other banks thus agree that they do not have an opinion yet, and refer to the issue of “their” building societies.
Otherwise, consider banks that do not actually have a building society. “The proposed change may change the situation so that banks can take more market share in building societies and their number may decline in the future,” said Pavel Zbek, spokesman for Money Bank, and added that this is a way to help more clients. . According to Zbek, one of the most convenient for clients would be that they could have their financial products under “one roof”.
The bank, which is one of the largest companies in the Czech Republic, did not close the road beforehand.
“At present, it is a matter of supporting the savings not the building savings. If the support of the building society is for everyone in the future, it is possible that our bank would also take advantage of these changes, ”says Ji Kunert, CEO of UniCredit Bank.