Deposit Insurance in the Russian Federation is a special mechanism to protect funds of citizens.The main idea of the system - is to ensure prompt payment from an independent source of finance (for example, a special fund) at the termination of the organization in which there were savings.Let us consider in more detail, how the deposit insurance system.
Advantages of
Experience shows that most of the economically developed countries, deposit insurance in banks acts as an effective tool for solving complex macroeconomic and social problems.First of all, the system of guaranteeing savings to prevent panic among the citizens.This in turn ensures a stable operation of the banking system.Along with that CCB reduces social costs to eliminate the impact of the crisis.Deposit insurance, among other things, increases public confidence in the financial and credit institutions.This creates prerequisites for long-term increase in private deposits.Today, the state deposit insurance exists in 104 countries around the world.
deposit insurance in Russia
It is carried out according to the relevant Law.The law "On deposit insurance" was adopted in 2003, December 23.Its provisions define the action of the CER, the order guarantee.In particular, in accordance with the Law, protects all citizens' savings, placed on accounts that provide registered on the territory of Russian banks.Deposit insurance also apply to funds that are on the cards (excluding credit), as they also act as ordinary accounts.Protection of savings made by virtue of this Law.This means that there is no need to enter into a contract for an additional warranty.In Russia operates DIA - Deposit Insurance Agency.This corporation was formed in 2004, in January.Deposit Insurance Agency provides oversight and controls system.The Russian participation in CER is an integral part of the activities of organizations engaged in recruiting and keeping citizens' savings.To date, the insurance system includes more than 800 banks.
compensation amount of individual deposits in the organization, in respect of which the insured event took place, carried out in 100% amount of the amount of stored assets, but not more than 1 400 000 rubles.Savings, in the account in a foreign currency are translated using the exchange rate at the time of the accident.The maximum amount of compensation - 1.4 million rubles - is charged on deposits held in the same bank accounts on different (or the same).Savings that are in various financial institutions, are provided independently of each other.
important point
After you have paid the insurance compensation, the right to demand of the depositor by an amount exceeding the amount of guarantees, met in bankruptcy proceedings, creditors of the first turn.The right to claim compensation for the amount paid to transfer to DIA.If the investor was granted a bank loan in respect of which there was insurance case, the amount of compensation is reduced by the counter-claims of financial and credit institution on the date of termination of its activity.
cases reimbursement
Act, the following circumstances in which the payment of compensation to depositors:
- cancellation (withdrawal) license.
- moratorium Bank of Russia for conducting financial transactions.
Compensation payments begin within three working days after submission of documents to the DIA, but not earlier than two weeks after the occurrence of any of the above circumstances.Reimbursement of deposits is carried out or in the office of the Agency (if the total amount and the number of small savers), or in one or several authorized units, or by mail.For each situation, set a specific procedure for granting compensation.
Exceptions
insurance is not subject to:
- funds in the accounts of notaries and lawyers, if they are open for the production of professional activity, provided Law.
- Contributions bearer.
- money transfers without opening an account.
- Deposits in foreign branches of domestic banks.
- Funds for the impersonal metal accounts.
- Savings transferred banking organization in trust.
- money intended for the calculation of only electronic means of payments without opening an account in the financial-credit enterprise.
Financial bases
deposit insurance is supported by an independent foundation.Its size in the 7 May 2014 amounted to 195.7 billion rubles.(net of provision for the payment of indemnities matured cases - 157.6 billion rubles.).The main financial sources of the Fund are the state property contribution - 7.9 billion rubles., Bank and insurance premiums and investment income from its funds.Fees are the same for all financial organizations and must be paid on a quarterly basis.The rate is determined by the Board of Directors of DIA.At the moment, the rate is 0.1% of the average insured value of the savings of individuals for the corresponding quarter.
Historical facts
Since when has started to operate deposit insurance, the amount of compensation has increased 14 times.At the initial stage it stood at 100 thousand rubles.Since August 2006, payments have increased to 190 000 rubles., In March of 2007 - up to 400 000 in October of 2008 - up to 700 000 rubles.In 2014, the State Duma adopted an amendment according to which the maximum amount of compensation was the 1.4 million rubles.During the lifetime of the CER was more than 180 insurance cases.
details on the amendment
Increasing the amount of compensation was doubled due to the panic of depositors.According to bankers, the move of the State Duma is very positive, but it is unlikely to contribute to the inflow of deposits.Financial markets, the Committee decided to support this project.The meeting was held in a non-traditional mode, and it was hidden from journalists.As noted by the head of the Committee Burykina amendments at that time it was flawed, and avoid misunderstandings later discussion should be carried out without the media.
Agenda of the meeting, the Committee had to consider two bills.The first concerned the increase in insurance payments by half, and the second - the formation of inter-factional group of deputies, which would deal with stabilization of the situation on the Russian financial market.However, the discussion touched and a number of other pressing issues.
Reasons for increasing compensation
need for an emergency measure is was due to a significant outflow of funds of citizens from ruble accounts.Since the beginning of 2014 it amounted to about 216 billion rubles.In connection with the financial crisis in December, significantly increased risk of churn.Bankers point to massive aspiration of Russians to transfer their funds in foreign currency accounts, as well as to invest in property.According to Aksakov, president of the association "Russia", will contribute to increasing the size of the inflow of insurance money in the domestic financial companies.As proof of his position, he cites the situation in 2008.In that period the outflow of deposits, was 7%.After increasing the amount of insurance up to 700 thousand. Rub.the volume of individual deposits increased in October by 10%.
DIA work in new conditions
With the adoption of the amendment to increase the insurance indemnity, as the Aksakov, the system of deductions to the fund is unlikely to undergo any changes.While substantially reducing the reserve DIA it can apply for a loan at the Central Bank.This feature provides the Federal Law on the CER.As noted Isaev (supervision agency), the decision will affect the operation of the corporation, however, the need to apply to the Central Bank has not yet occurred.
more opportunities for citizens
As mentioned above, the bankers consider increasing the size of payments to the insurance a very positive solution.At present, the average value of the deposits of the population is 500 thousand rubles.This relatively small number is due to the fact that many were crushed and their means to reduce the risks to open accounts at different financial institutions.An increase in insurance payments to depositors are able to accumulate large sums of money in a bank.Along with this increase in the compensation acts as a further guarantee of the Government.This, in turn, among other things also contribute to increased confidence in the domestic financial sector.Along with this, according to bankers, an amendment will lower the rate of cancellation of licenses and selection in order to avoid increasing pressure on the insurance fund.
