The bank deposit insurance system is planned to be extended to the majority of large businesses. This is stated in the new edition of the draft of the main directions for the development of the financial market until 2024, prepared by the Bank of Russia (Izvestia got acquainted with the document).
Thus, the majority of legal entities should be included in the insurance system. At the same time, organizations providing financial services and companies for which the total limit of insurance compensation will not be significant in the scale of their activities will remain outside it.
In addition, the insurance system, according to the Central Bank’s plans, will not include accounts for accounting for funds from the federal budget, regional budgets and state non-budgetary funds (for example, the Pension Fund). The Bank of Russia will also assess the feasibility of expanding the scale of differentiated premium rates and adjusting the assessment of the financial stability of banks participating in the deposit insurance system.
A federal official, aware of the Central Bank’s initiative, told Izvestia that specific parameters for its implementation are still being worked out, so he did not name a possible time frame for reforming the system. As another interlocutor of the publication noted, the most likely scenario is to maintain a flat scale of maximum insurance compensation at 1.4 million rubles.
Deposits of individuals, small businesses, as well as a number of non-profit organizations (including religious organizations, charitable foundations, associations of real estate owners, consumer cooperatives) are now insured. If the bank’s license is revoked, they are guaranteed to receive their funds in the amount of up to 1.4 million rubles. For three separate categories of deposits (for example, for a number of escrow accounts), the maximum amount of payments is 10 million rubles.
Read more in the exclusive material from Izvestia:
Agency of influence: they want to include large business in the deposit insurance system
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source https://pledgetimes.com/the-deposit-insurance-system-will-be-expanded-to-include-large-business/
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