Deposit insurance

FAS Russia as of December 10th, 2014 No. AK / 50617/14 “On ensuring competition in the banking services market”

The funds of wards can be placed in any banks participating in the system of deposit insurance of individuals.

It is reported that from November 5th, 2014, the Federal Law dated 04.11.2014 N 333-FL “On Amendments to Certain Legislative Acts of the Russian Federation regarding the exclusion of provisions establishing benefits for certain economic entities” partially came into force.

Present Federal Law from the Part 3rd  of Article 19th  of the Federal Law “On Guardianship and Custody” and part 2 of Article 84 of the Family Code of the Russian Federation exclude the norms according to which the funds of the categories of citizens mentioned in these legislative acts can be placed only in banks , at least half of the shares (shares) which belong to the Russian Federation.

According to Federal Law N 333-FL, in particular, the guardian has the right to deposit funds of the ward, and the trustee has the right to give consent to deposit the funds of the ward to the account or accounts opened in the bank, provided that these funds are insured in the compulsory insurance system and the total amount of funds held in an account or accounts in one bank does not exceed the amount of compensation for deposits.

It is reported that from the date of entry into force of the norms of the Law N 333-FL, any actions of the federal executive authorities, legislative authorities of the constituent entities of the Russian Federation, executive authorities of the constituent entities of the Russian Federation, including guardianship and custody, local authorities, limiting the rights of the mentioned category of citizens in the choosing banks for placing funds on bank accounts, and as a result, unreasonably preventing other banks from carrying out activities of raising such funds for placement in accounts, in some specific circumstances, may not be found to conform to Competition Law.

In order to inform citizens about the availability of the right to choose a bank at their own discretion to place (receive) on the bank accounts the money owed to citizens, the FAS Russia draws attention to the need to ensure that appropriate explanations are posted on the official websites of the Ministry of Labor of Russia, Rostrud and other bodies and organizations and also instruct such bodies and organizations to verbally explain to citizens that they have these rights with direct interaction.

 The order and amount of compensation for deposits

Letter of the Central Bank “On the notification of guardians or trustees, guardianship and custody”

Dear Clients!

We bring to your attention the Letter of the Bank of Russia dated December 17, 2014 N 208-T “ON NOTIFICATION OF GUARDIANS OR GUARANTORS, BODIES AND GUARDIANS”

The Bank of Russia in order to increase the level of protection of the rights and legitimate interests of the persons referred to in paragraph 2 of article 84 of the Family Code of the Russian Federation and paragraph 8 of article 6 of the Federal Law of December 21, 1996 N 159-FL “On additional guarantees for social support of orphans and children without parental care ”, recommends banks – participants of the deposit insurance system (hereinafter – banks) when carrying out transactions on the accounts of the mentioned persons in case of exceeding the cash balances in their accounts over the maximum amount of insurance compensation provided by Federal Law No. 177-FL dated December 23, 2003 “On Insurance of Deposits of Individuals in Banks of the Russian Federation”, inform the guardians or trustees, the guardianship and custody of the amount of such excess, as well as that the amount of such excess is not subject to insurance compensation.

First Deputy

Chairman of the Central Bank

Russian Federation

A.YU.SIMANOVSKY

On increasing the maximum amount of insurance compensation for deposits of individuals and accounts of individual entrepreneurs to 1.4 million rubles.

Dear Clients!

In accordance with the Federal Law of December 29, 2014 No. 451-FL “On Amendments to Article 11 of the Federal Law No. 177-FL “ On Insurance of Deposits of Individuals in Banks of the Russian Federation”:

Compensation for deposits in a bank in respect of which an insured event has occurred is paid to a depositor in the amount of 100 percent of the amount of deposits in a bank, but not more than 1,400,000 rubles, unless otherwise provided by this Federal Law.

If a depositor has several deposits in one bank, the reimbursement is paid for each of the deposits in proportion to their amounts, but not more than 1,400,000 rubles in total.

If an insured event has occurred in relation to several banks in which the depositor has deposits, the amount of insurance compensation is calculated for each bank separately.

 

Dear Clients!

CB “Euro-Asian Investment Bank” LLC informs you that in accordance with Federal Law No. 177-FL of December 23, 2003 “On Insurance of Deposits of Individuals in Banks of the Russian Federation” funds of an individual are intended to purchase a bill of credit are not subject to compulsory insurance .

Dear Clients!

CB “Euro-Asian Investment Bank” LLC informs you about the payment of insurance indemnity to individual entrepreneurs in accordance with clause 11.1 of Article 12 of the Federal Law “On the Insurance of Deposits of Individuals in Banks of the Russian Federation” dated December 23, 2003 .) № 177-FL:

“Insurance compensation for accounts (deposits) of individual entrepreneurs opened for entrepreneurial activities is made by the Agency by transferring funds to the bank account specified by the depositor opened for entrepreneurial activities. If at the time of payment of the insurance indemnity an individual entrepreneur is recognized as insolvent (bankrupt) by the arbitration court, such payment is to be made by the Agency by transferring funds to the account of the debtor used during the competitive procedure in the manner established by the Agency. Assignement of receivables of an individual entrepreneur to the Agency is not allowed.

(Part 11.1 was introduced by Federal Law on December 28th , 2013 N 410-FL)

CB «Euro-Asian Investment Bank» LLC has been included into the system of insurance of bank deposits of individuals in the Russian Federation from February 17th, 2005 under number 670.

In accordance with the Federal Law of December 23, 2003 No. 117-FL “On Insurance of Deposits of Individuals in Banks of the Russian Federation” (with amendments), upon the occurrence of an insured event, compensation for deposits in a bank in relation to which an insured event occurred is paid to the amount of 100 percent of the amount of deposits in the bank, but not more than 1 400 000 rubles.

If a depositor has several deposits in one bank, the total amount of liabilities of which on these deposits to the depositor exceeds 1,400,000 rubles, reimbursement is paid for each of the deposits in proportion to their amounts.

The provisions of Parts 2 and 3 of the Federal Law dated December 23rd , 2003 No. 117-FL “On Insurance of Deposits of Individuals in Banks of the Russian Federation” (as amended) apply to banks whose insured event occurred after October 1st , 2008.

If an insured event has occurred in relation to several banks in which the depositor has deposits, the amount of insurance compensation is calculated for each bank separately.

The amount of compensation for deposits is calculated based on the amount of balance on deposits (deposits) of the depositor in the bank at the end of the day the insured event occurs.

If the obligation of the bank in respect of which the insured event occurred is expressed in foreign currency to the depositor, the amount of the deposit compensation is calculated in the currency of the Russian Federation at the rate set by the Bank of Russia on the day the insured event occurs.

If the bank in respect of which the insured event occurred acted in relation to the depositor also as a creditor, the amount of compensation for deposits is determined based on the difference between the amount of the bank’s liabilities to the depositor and the amount of counter-claims of the bank to the depositor arising before the insured event.

Deposit Insurance Agency

  • Mailing address: Vysotsky st. 4, Moscow, 109240,
  • E-mail: info@asv.org.ru
  • Website: http://www.asv.org.ru/
  • Hotline telephone (free call within Russia): 8-800-200-08-05
  • Helpline of the State Corporation “Deposit Insurance Agency”: +7 (495) 777-24-30