Table 1.2 Deposit market structure

Depositary market
Depositary market objects	Depositary market subjects
Savings	Investors
Doposints	Banking system
Investments	Governtment

*Source: Table is compiled by the author.

As in any market, there are in the deposit market, its participants and the instruments by which the necessary operations are carried out. The criterion for the definition of this concept is the objective function of each of the subjects of the deposit market. It is generally accepted to distinguish between the following entities (members) of the market.

• The banking system - in the face of commercial banks (engaged in attracting deposits)

• Investors - in the face of the population, enterprises that invest deposits;

• The state - in the face of the National Bank (as the regulatory and supervisory authority).

According to this table, each member of the deposit market plays in the functioning of the market one way or another, peculiar only to him the role. So, for example the banking system attracts temporarily free funds deposits and deposits on returnable basis.Consequent functions include: providing high-quality level of services and some of their range, establishing the optimal interest rate, the optimal implementation of the deposit policy, guaranteeing reliability and security of investment. The main purpose of the presence of depositors in the deposit market is the need for liquidity of investments in deposits and savings deposits. Find the most reliable banks of the highest interest rates offered by banks and investments in order to preserve - is the most basic functions of depositors in the deposit market. The state's role is to ensure the reliability of banks, supervision and control of banks in terms of implementation of prudential standards. Thus, we have identified in the deposit market, the main participants and the functions they perform. One of the objective factors in the development of the deposit market is the realization of the optimal deposit policy, which for some reason is of paramount importance for effective banking activities to raise funds on deposit and efficient management.

1.2 The strategy of forming the bank's depositary policy

Commercial banks, as already noted, begin active efforts to attract deposits for mutual benefit. The success and effectiveness of their activities depend primarily on the general economic situation, the legislative framework, a stable political system and a number of other circumstances. From the banks themselves also depends on how radical generation development in the pressure of competition. The planning system in the banks is to develop strategies, policies and tactics of the market economy. The strategy is determined on the basis of forecasts and long-term development plans (for banks from 18 months to 3 to 5 years), the policy - medium-term plans, and tactics - short-term, responsive, flexible plans (programs) for a period of several months to one year. One important aspect of the bank is to implement the optimal deposit policy, which for some reason is of paramount importance for effective banking activities to raise funds on deposit and efficient management. The main document governing the process in a commercial bank involvement of temporarily free funds of enterprises, organizations and people in the bank account in the various deposits (deposits), is a "policy of the bank deposit." This document is developed independently by each bank based on a strategic plan for the bank, analysis of the structure, condition and dynamics of the resource base of the bank and from the perspective of its development, as well as closely related to such documents, defining the main directions and conditions for placement of borrowed funds, as the "Credit policy "and" Investment Policy ". The document "Deposit Policy" shall be determined by its strategy to attract funds to implement the statutory requirements, goals and objectives identified memoranda credit and investment policy, with reference to the maintenance of bank liquidity and to ensure its profitable operation. Specifically, it provides the bank: the growth prospects of the bank's own funds (capital), and hence the ratio between own and borrowed funds, attracted by the structure and borrowed funds (deposits, deposits, interbank loans, etc.) preferred types of deposits; the relationship between time deposits (deposits) and the term "on demand", the main contingent on deposits, ie the category of investors; geography attract and borrowing, the conditions to attract deposits; ways to attract (based on contracts of bank accounts, the correspondent account , bank deposit (deposit), by issuing its own certificates, new forms of raising funds on deposit, the special conditions of opening certain types of deposits, measures to comply with standards of bank risk on funds raised from /13/. Development and implementation of the bank's deposit policy engaged in a close relationship with each other a number of structural units of the bank, including controls. To carry out practical activities to raise funds banks are developing provisions for deposit operations (separately for retail deposits and corporate deposits), which specify: terms and conditions of deposit, the legal status of the subjects of contractual relations, the order of the contract of bank deposit, its content , how to input and output of the contribution, a list of documentation required to open and use the input, and requirements to them, the rights of depositors and the bank's responsibility, methods of calculation and payment of interest on deposits. In intra instructions on how to commit the specific deposit operations required the organization of branch (division) of the bank with various categories of investors, the order of execution of documents corresponding to the commission of these operations, the scheme of their documents, reflected in the accounting operations for receiving and issuing deposits, calculation and payment of interest on them. Deposit policy is a system of measures aimed at mobilizing free funds of legal entities and individuals in the form of deposits with a view of active use on a reciprocal basis.Cash sent one person to another under the terms of the repayment amount in nominal terms, with the addition of a predetermined allowance, stand-effective tool not only for investors, as they are being paid, but also for the financial intermediaries. Many deposits are able to create loan capital, which is then placed on the favorable conditions in all sectors of the economy. The system of relations by which the policy of the bank deposit is formed, is a complex of measures to attract investors and improve the quality of customer service - on the basis of liquidity, safety and profitability of investments. The most important task deposit policy is to create the necessary conditions to increase the bank's deposit base.

Firstly, the bank developed the strategy and tactics to attract deposits contributes to an increase in the number of potential investors. Attractive deposit policy, the creation of favorable conditions for investors to invest, improves the competitiveness of the bank to others.

Secondly, by increasing the number of clients, an increasing number of investors borrowed funds, which allows the bank to increase lending policies. That is, due to the effective exchange rate of the deposit policy, the bank has an opportunity not to resort to a variety of expensive borrowing on the interbank money market, or find other sources of raising funds. In this regard, commercial banks have to constantly take care of, as the quantitative and the qualitative improvement of their deposit funds. They use different methods for this: interest rates, services and benefits to investors.

The banks observe a few basic principles of organization of deposit operations:

1. Deposit operations should contribute to profit or to create conditions for a profit in the future.

2. Deposit operations must be conducted and a variety of different subjects.

3.  Particular attention is in the process of deposit operations should be given to fixed-term deposits.

4. Should be provided with the relationship and consistency between deposit and lending operations of the operations on the timing and amounts.

5. By organizing the deposit and credit transactions, the bank should seek to minimize the free resources.

6. The Bank should take steps to develop banking services, which help to attract deposits.

Organization of the deposit policy is based on the principle of the formation of an effective deposit portfolio. In a market place and role in the overall deposit portfolio of the bank's development strategy is greatly increased, which is due to an increase in the quantity and quality of services, growth of various types of deposits, and, therefore, extending the frontiers of the social activities of the state.

The deposit portfolio - a collection of all types of deposits invested in the bank depositors. Deposit portfolio, as a tool to implement the policy of deposit, reflects the sources and uses of funds. You can judge it on the passive side of the balance of the bank. A balance sheet of the bank acts as an effective instrument of financial control of the bank. Through the balance sheet can be monitored over all banking operations in order to control the financial status. That is, the shift of funds from liabilities into assets is carried out by transformation of the deposit portfolio in the bank's loan portfolio. Banks, in the course of its activities are faced with a huge number of risks. The most common type of risk - the risk associated with the operations of the bank deposit.Therefore, the goal is to effectively manage the bank's deposit portfolio. Specificity of deposit operations management in banks is determined by solving a series of tasks, which include:

1. Creating the conditions for successful deposit transactions in interbank competition.

2.  Compliance with the interests of depositors (depositors), by providing guarantees, reliability, quality of service in order to achieve maximum stability of business connections.

3. Guarantee of bank profits plans.

4. Risk Management.

5. Human Resource Management.

Successful activities of banks depend primarily on addressing these fundamental problems. Thus, the analysis of commercial banks to attract deposits will become more familiar with the problems that exist at this stage, and further develop a strategic program development. In order to identify the problems of development of the deposit of the case the author has been carried out SWOT analysis of strengths, weaknesses, opportunities and threats faced by Kazakh banks in carrying out deposit operations. In commercial banks, there are internal and external environment in which there are certain changes. The internal environment (or micro-level) includes financial management, personnel management, bank marketing. The external environment (or macro-level) consists of the direct environmental impacts and indirect environmental impacts. The external environment includes the direct impact of investors: individuals and legal entities, competitors. The external environment of indirect effects includes the following factors: economic, demographic, social, geographical. On the basis of the study revealed the following results (Table 1.3).

Table 1.3 SW0Т- analyses of strengths, weaknesses, opportunities and threats in the commercial banks dealing with deposit operations.

Strengths		Weaknesses			Opportunities	Threats
The internal environment
Deposit policy
Differentiation of types of deposits, an increase in the number of types of deposits of physical persons and legal entities		The trend of growth of money on term deposit accounts as compared to demand deposits	Ability to intensify efforts to ensure the creation of demand deposits			Reduced rates on deposits may subsequently lead to an outflow of savings from accounts in other types of investments (more profitable)
Personnel management
Operational work of bank employees with deposit accounts, due to modern banking technologies		Underdeveloped system of counseling and advocacy work directly with the bank employees on the public-benefit savings, investments			• Training of staff • Retraining, specialization • the opening of department advisory • provide training to potential investors	Due to the lack of information and experience among investors can be banks, lack ofaccumulation of free cash
Bank marketing
The active campaign not only in the media, but also the involvement of other types of advertising		Lack of risk assessment in the banking, on deposit operations			Development of a comprehensive marketing program to attract deposits	Delays in identifying problems can lead to adverse effects
External environment of the direct impact
Depositors - individuals
Increasing the number of investors willing to invest their money in savings		Lack of awareness among some investors about the types and benefits of various deposits			Continuous improvement of individual investors the level of their competence in matters of investments		Ignorance and incompetence can lead to the accumulation of assets held by the public
Depositors as legal entities
Incresed confidence of legal entities to bank due to the quality of sercice	Insufficient development of the industrial complex		Lending to the real economy can be credited to the bank to return the money back - in the form of deposits					Active development of the stock market could lead to capital flight from deposit accountsin securities
Competitors ренты
Each bank has its own personality, and thus, their regular customers	Suffice aggressive promotion of large banks leads to an outflow of customers in smallerbanks			Monitoring the situation and the opportunities of competitors				The concentration of banking capital, the consolidation of commercial banks (especially large ones) may result in a monopoly position in deposit market
The external environment of indirect influence
Economic factor
The revival of production, the increase in commodity exports and decrease in unemployment level	The growth rate of foreign currencies relative to the national			Creating a favorable investment climate and the guarantee of deposits in tenge (in the case of exchange rate changes)				Unstable economic situation could lead to the withdrawal of deposits from the accounts
The demographic factor рический
The active portion of the population remains the sole investor in the deposit market	Small population, low demographic indicators as well as migration			Government policies to encourage population growth				A small number of the population - a small amount of deposits
Social factor
Normalization of the situation on the labor market	Lack of social protection of certain sectors of the population			Government policy of forming incomes of the population				Insufficient incomes of the population will, along with inflation, the declining trend in the demand for deposits
Geographical factor
For residents of the cities of Almaty and Astana: The concentration of banks in the same territory. For other cities and regions: the branches of large banks	The remoteness of the regions of the banking institutions, Lack of branch network, inconvenient geographical location			Creating a branch is not only the big banks that specialize in deposits				Investing money in other areas

Based on the identified problems, we can develop strategies to create a deposit policy.In order to strengthen the financial stability of commercial banks to the formation of an effective banking policy, a component of which is the deposit policy. According to GSPanova, deposit policy is a "banking policy ... to raise funds to deposits and effective management of, or the bank's strategy and tactics to attract depositors and other creditors, and determining the most effective combination of resources" /9/.

The formation of a deposit policy should be implemented in three stages:

1. Phase of the study.

2. The planning phase.

3. Stage of making and implementing decisions.

At the stage of the study examines the bank customers' needs: what types of deposits are more attractive, what interest rates are set to one or another form of deposits deposits. All of this should be implemented taking into account the bank's capacity to implement these or any other bank operations. At this stage, the bank shall also study and analyze the market, which include: environmental analysis, market place and role of the bank in this market. That is, parameters such as geographic location of the bank, customer proximity, and the sufficiency of the branch network, the city or the countryside, the presence of competitors should be studied and taken into account in the initial stages of developing the deposit policy. At the planning stage, the bank carries out analysis and evaluation of return on deposit operations, plans possible risks, expanding the range of services, etc. The stage of adoption and implementation of decisions is perhaps the most important and crucial, because at this stage is solved, how much deposit will be involved in the planned period. It plays the role of such factors as the procedure of raising funds in deposits (bank staff successful work with clients: Outreach by type, date, and advantages of deposit, etc.). The important role at this stage is also advertising and production of advertising campaigns. And finally, from the bank depends on the proper and efficient management of assets and liabilities for a more rational use of funds and reduce the imbalance between the involved and invest. Development and provision of deposit policy includes the development of such critical areas as:

• Product policy, including an innovative.

• Sales policy.

• Pricing policies.

• Service policies, including human resources.

• Advertising policy.

Commodity strategy and policy is made in the marketing system, associated with the selection and implementation planning of the provision, supply and sale of bank deposits. The essence of commodity policy is to define and maintain the optimal structure of the set provided by the bank deposit services to be sold for the purposes of the bank. The main objectives of commercial policy are: definition and satisfaction of consumers, customers, optimal use of technological knowledge and experience of the bank and the optimization of financial results, the conversion of potential into real deposit services and adherence to the principles of flexibility in the processes of providing deposit services; best skills, etc. /8/. Trade policy includes - a strategy of controlled expansion of market segments and includes an increase of the existing deposit services on an already conquered markets.To implement such a strategy has the following features:

• Find and use the weaknesses of the deposit services provided by competitors;

• To persuade potential customers to take advantage of this service the bank and to attract new customers.

• Offer additional services related to the acquisition, service provision and deposit services.

Product development strategy is based on intensive research work for improving already provided deposit services, expanding their modifications and the method of delivery that improves the application properties. In other words, positioning is necessary to make deposits, which means that the definition of their identity, characteristics that distinguish them from their peers. Positioning strengthens the position of a specific deposit at a certain market segment and raises its compliance with certain requirements of customers. Next, define product strategy, ie, the optimal set of available deposits, preferred to work successfully in a particular market and providing the necessary cost-effectiveness of the bank as a whole. Assortment strategy can be expressed in the development of the following areas:

• Product differentiation, ie, the selection of their own bank deposit products other than products of its competitors by providing them with separate niches of demand;

• Mercantile narrow specialization (specific activity of the bank in providing certain banking services). Most of this area is oriented specialized banks;

• diversification of the commodity, which is basically adhere to universal banks; The strategy of entering new markets involves expansion of the service of external and domestic markets, increase the number of actual contributors. At the heart of this strategy is the production concept of marketing, and management of the Bank shall take such steps as:

• Study demographic markets (for new social groups);

• Analysis of retail organizations (contractors, suppliers, competitors);

• Analysis of the specific individual geographic markets.

Sales Policy: developed policy strategy includes a comprehensive analysis of sales and customer service, ie the study of the best options to provide a package of deposit services to the fullest satisfaction of traditional markets and customers and attract new ones. The main objectives of sales policy banks and banking institutions are:

• Market analysis, including determination of the total market share served by a particular bank;

• Market share of reserves and deposits by categories of clients and their belonging to different branches, the share of the market controlled by institutions, compared to the para-banking system, the analysis of marketing data, comprising the classification of customers by geography, sex and age, income level and so on. For this purpose it is necessary to analyze some of the key factors that influence the sales policy.

1. Analysis of the specific market, market segments ("niches", "windows"). 

Market segment is:

• Dedicated in some way part of the market, which sold a certain type of banking services; • Identify groups of potential and actual customers, constituents, or a certain part of a specific audience. Naturally, the individual elements of these groups should have some common features on which they are classified;

The concept of "market segment" encompasses a large number of producers and consumers. Depending on the selection criteria specific segment of the market segmentation and feature set of services can be geographical, national, gender and age, professional economic, property. By geographical features include: the value of the region, and population density, climatic conditions, administrative division (city, village), the distance from the bank, etc. The use of this feature is especially useful when the market there are climatic differences between regions or features of cultural, national, historical traditions, as well as consumer habits and preferences. Demographic characteristics - age, sex, consumer, and the size of the family life cycle, the number of children - are among the most frequently used criteria for segmentation.This is due to the availability of their characteristics, as well as the presence between them and the demand for banking services (sales), a significant correlation. Age division is determined by the bank's customer life cycle concept, which assumes that a person throughout his life from birth to death is a series of successive stages.Each of them had specific needs arise, that is, over time; people are changing tastes, desires and values. Classical differentiation of consumers in view of the sequence of the important stages in the life of an adult uses in his book "The life cycle and financial capacity of consumers," John B. Lansing and James N. Morgan / / making emphasis on the family (Table 1.4):