As the experience of most economically developed countries shows, deposit insurance in banks acts as an effective tool for solving a complex of macroeconomic and social problems. First of all, the savings guarantee system helps prevent panic among citizens. This, in turn, ensures stable operation of the banking system. At the same time, CER helps reduce public costs of eliminating the consequences of the crisis. Insurance of deposits of individuals, among other things, increases public confidence in financial and credit organizations. This creates the preconditions for a long-term increase in private deposits. Today, government deposit insurance exists in 104 countries around the world.

Deposit insurance in Russia

It is carried out in accordance with the relevant “On Deposit Insurance”, which was adopted in 2003, on December 23. Its provisions determine the operation of the CER and the procedure for ensuring guarantees. In particular, in accordance with the Federal Law, all savings of citizens placed in accounts provided by banks registered in Russia are subject to protection. Deposit insurance for individuals also applies to funds on cards (except credit cards), since they also act as regular accounts. Savings are protected in accordance with the specified Federal Law. This means that there is no need to additionally conclude a warranty agreement. The Deposit Insurance Agency (DIA) operates in Russia. This corporation was formed in 2004, in January. The Deposit Insurance Agency provides control and management of the system. In Russia, participation in the savings account is an integral part of the activities of organizations involved in attracting and storing citizens' savings. Currently, more than 800 banks are included in the insurance system.

Amount of compensation

Reimbursement for deposits in an organization in respect of which an insured event occurred is carried out in the amount of 100% of the amount of funds stored, but not more than 1,400,000 rubles. Savings held in accounts in foreign currency are recalculated at the exchange rate at the time the event occurred. The maximum amount of compensation - 1.4 million rubles - is accrued for deposits kept in the same bank in different accounts (or one). Savings held in different financial institutions are provided independently of each other.

Important point

After the insurance compensation is paid, the depositor's right of claim for amounts exceeding the amount of the guarantees is satisfied in the process of first-priority creditors. The rights to claim the amount of compensation paid are transferred to the DIA. If the depositor was issued a loan from a bank in respect of which an insured event occurred, the amount of compensation is reduced by the amount of counterclaims of the financial credit organization on the date of termination of its activities.

Reimbursement cases

The Law establishes the following circumstances under which compensation is paid to depositors:

1. Cancellation (revocation) of a license.
2. Introduction of a moratorium by the Bank of Russia on financial transactions.

Payments of compensation begin within three working days from the date of submission of documents to the DIA, but not earlier than two weeks from the occurrence of any of the above circumstances. Reimbursement of deposits is carried out either at the Agency’s office (if the total amount and number of depositors is small), or in one or more authorized departments, or by mail. For each individual situation, a specific procedure for providing compensation is established.

Exceptions

The following are not subject to insurance:

Financial Basics

Insurance of deposits of individuals is carried out with the support of an independent Fund. Its size as of May 7, 2014 amounted to 195.7 billion rubles. (minus the created reserve for the payment of compensation for incidents that occurred - 157.6 billion rubles). The main financial sources for the formation of the Fund are the state property contribution - 7.9 billion rubles, as well as contributions and income from investments from its funds. Contributions are the same for all financial and credit organizations and must be paid quarterly. The tariff is determined by the DIA board of directors. Currently, the rate is 0.1% of the average insured savings of individuals for the corresponding quarter.

Historical facts

Since the introduction of deposit insurance for individuals, the amount of compensation has increased 14 times. At the initial stage it was 100 thousand rubles. Since August 2006, payments increased to 190,000 rubles, from March 2007 - to 400,000, from October 2008 - to 700,000 rubles. In 2014, the State Duma adopted an amendment, according to which the maximum amount of compensation became 1.4 million rubles. During the entire existence of the CER, more than 180 insured events occurred.

More about the amendment

The doubling of the compensation amount was due to the panic of depositors. According to bankers, this step by the State Duma is very positive, but it is unlikely to contribute to the influx of deposits. The Financial Markets Committee decided to support this project. The meeting took place in an unconventional manner and was hidden from journalists. As the head of the Committee, Burykina, noted, the amendments at that time were unfinished, and in order to avoid discrepancies, the subsequent discussion should be held without representatives of the media.

Meeting agenda

The committee had two bills to consider. The first concerned doubling the insurance payment, and the second concerned the formation of an inter-factional group of deputies that would work to stabilize the situation on the Russian financial market. However, the discussion also touched on a number of other pressing issues.

Reasons for increasing compensation

The need for urgent adoption of such a measure was due to a significant outflow of citizens’ funds from ruble accounts. Thus, since the beginning of 2014 it amounted to about 216 billion rubles. Due to the financial crisis that began in December, the risk of outflows has increased significantly. Bankers point to the massive desire of Russians to transfer their funds to foreign currency accounts, as well as invest in property. According to Aksakov, president of the Rossiya association, increasing the amount of insurance will contribute to the flow of money into domestic financial companies. He cites the situation in 2008 as evidence of his position. During that period, there was an outflow of deposits amounting to 7%. After increasing the insurance amount to 700 thousand rubles. The volume of citizens' deposits increased by 10% in October.

DIA work in new conditions

With the adoption of the amendment to increase insurance compensation, as Aksakov notes, the system of contributions to the fund is unlikely to undergo any changes. If the DIA reserve decreases significantly, it may apply for a loan from the Central Bank. This possibility is provided for by the Federal Law on CERs. As Isaev (chief of the agency) noted, the decision made will affect the work of the corporation, but the need to contact the Central Bank has not yet arisen.

Additional opportunities for citizens

As mentioned above, bankers consider increasing the amount of insurance payments a very positive decision. Currently, the population's deposits amount to 500 thousand rubles. This relatively small figure is due to the fact that many split their funds and opened accounts in different financial institutions to reduce risks. When the insurance payment increases, depositors have the opportunity to accumulate large sums in one bank. At the same time, the increase in compensation acts as an additional guarantee of the Government. This, in turn, among other things, also helps to increase confidence in the domestic financial sector. At the same time, according to bankers, the adoption of the amendment will reduce the rate of cancellation and selection of licenses in order to avoid increasing the burden on the insurance fund.

The banking crisis makes investors worried about the safety of their money. Many people have a question about how the law on deposit insurance works, whether there is a high probability that the money will be returned if the bank experiences force majeure circumstances. Insurance of deposits of individuals is provided by the state, however, the bank where an individual has a deposit must be a participant in the system for guaranteeing the return of finances to individuals in legal relations. To quickly return your money, you need to know the nuances of the deposit insurance system.

What is deposit insurance

To avoid panic among the population associated with disruptions in the work of financial and credit organizations, the cessation of their activities, the state introduced insurance of deposits in banks, that is, guaranteed amounts of compensation that are paid to the depositor. World practice shows that state insurance of deposits of individuals is a reliable and effective mechanism that reduces the socio-economic consequences of the crisis in the banking sector.

The mechanism is needed to build the trust of individuals in banks, encouraging them to invest in “long-term” deposits designed for more than one year. However, since the Central Bank of Russia (CBR) prefers not to close banking structures, but to carry out a health-improving set of measures to correct the crisis situation, in which individuals always have access to their finances, the insurance system is less relevant than 3-5 years ago.

How does the deposit insurance system for individuals work?

The agreement on attracting savings must state that the bank participates in a program to protect the savings of the population implemented by the state. This gives individuals confidence that in the event of force majeure circumstances, when the financial structure cannot fulfill its obligations to depositors, the latter are guaranteed to receive their money from the Agency that provides deposit insurance. The Agency’s operating mechanism is based on Russian legislation, which details the rights of depositors to receive compensation.

Regulatory framework

Compensation for insurance amounts is carried out in accordance with Federal Law No. 177 of December 23, 2003 “On the insurance of deposits of individuals in banks of the Russian Federation,” which determines the norms, rules, and amount of obligations for which insurance of deposits of individuals is carried out. According to this legal act, any physical entity of legal relations with the bank can submit a petition to the authorized body for reimbursement of funds that the bank is unable to pay for its obligations.

The state guarantees citizens a refund under the following conditions:

• The financial and credit organization is included in the register of banks participating in the program for compensation of funds on deposits. According to the law, when concluding an agreement to attract finance, any banking structure must inform an individual about its presence in the register.
• The contract for attracting financial resources is valid on conditions that fall within the definition of an insured event.

Deposit Insurance Agency

The State Corporation Deposit Insurance Agency is the regulator of the relationship between a financial organization and individuals. The agency operates based on 177-FZ, and the amount of funds that can be used to compensate individuals is more than 85 billion rubles. The Agency receives this property from bank transfers (any financial structure to obtain a license from the Central Bank must transfer a certain percentage to the compulsory deposit insurance fund), or from investments.

The agency is actively working on procedures related to the bankruptcy of banking institutions, carrying out rehabilitation measures for their rehabilitation, and providing support to voluntary investors. The Board of Directors of this state corporation includes representatives of the Central Bank and senior government officials, which provides the maximum guarantee of return of money according to the requirements of depositors.

Banks included in the state deposit insurance system

On the DIA website you can see that the following financial structures are in the register of participants:

• Sberbank of the Russian Federation;
• VTB 24;
• Alpha Group;
• Promsvyazbank;
• Raiffeisenbank;
• Bank Rosgosstrah;
• Renaissance Credit;
• Rosselkhozbank;
• Russian standard.

According to the DIA, the register includes more than 850 financial organizations. If a private depositor, when concluding a bank deposit agreement, is not presented with official data that the financial institution insures deposits of individuals, then he is faced with fraudsters. Any bank must necessarily participate in the program for compensating deposits to individuals.

Insurance of bank deposits - features of the procedure

According to 177-FZ, any funds deposited by an individual subject of legal relations to a bank, with the opening of a bank account, to acquire benefits in the form of interest payments, as well as interest that accrues during the use of this money by a financial institution, are considered insured. Such deposits include both ruble and foreign currency savings of individuals. The maximum amount of deposit insurance, according to the amendment dated December 19, 2014, is set at 1.4 million rubles. The following types of financial assets are considered insured and are subject to return:

• sent to various deposits, time and on demand, in rubles and foreign currency;
• placed on accounts providing for the payment of salaries, benefits, pensions to physical subjects of legal relations;
• intended for the needs of private entrepreneurs;
• placed on the accounts of guardians and trustees for the transfer of funds to their wards;
• available in escrow-type accounts, which are intended for transactions of individuals for the purchase and sale of real estate;
• located on debit physical plastic media issued by this financial institution.

What funds of individuals are not subject to compulsory insurance?

You should be aware that the legislation provides for exceptions under which certain types of amounts of money stored by objects of legal relationships in banks are not subject to compensation, and insurance of deposits of individuals does not apply to them. These include:

• Amounts in the accounts of citizens providing legal assistance to private individuals (lawyers, notaries), if this money is spent on work needs.
• Bank deposits issued to bearer.
• Finances that an individual transfers to a bank for investment under trust management.
• Money held in foreign branches of Russian banks.
• Funds for the transfer of which a debit account cannot be opened (electronic payments).
• Additional amounts of money in nominal metal impersonal accounts.

Insurance cases

According to the law, insurance of individual savings is carried out in the following cases:

• If the Central Bank revokes the license issued by it from the bank. The register participant is subject to the introduction of external management and no longer has the right to work with individuals and legal entities, manage finances, and fulfill its obligations to clients.
• When the Central Bank introduces a moratorium on creditor claims. This situation arises during bankruptcy proceedings of a credit institution for the purpose of debt restructuring. Monitors the implementation of the DIA moratorium; this state can last 12 months, after which a decision is made either to terminate it or to extend it for six months.

Revocation of CBR license

The main bank withdraws the license issued by it to carry out banking activities from the financial organization under the following circumstances:

• if the bank exceeds its authority and carries out risky operations to issue large non-performing loans;
• reduction of the authorized capital below the amount stated in the constituent documents;
• if the financial structure purposefully and constantly does not comply with the requirements of the Central Bank of the Russian Federation;
• if it is impossible to satisfy the claims of creditors and claims of clients regarding the bank’s obligations;
• when identifying fraudulent money laundering schemes or providing incorrect reporting data;
• failure to comply with court decisions;
• critical reduction in cash balances below 2%.

The day after the license is revoked, the Central Bank introduces external management to put the financial structure in order and its subsequent liquidation. Individuals may apply for reimbursement of funds deposited with a given banking organization 2 weeks after recording the occurrence of this insured event, provided that their funds were insured.

Introduction of a moratorium by the Central Bank on satisfying the claims of bank creditors

This measure is temporary in relation to a financial institution and is established to streamline its functioning. The moratorium gives individuals the right to receive not only the invested amount, but also interest on it upon the occurrence of an insured event. Interest compensation occurs separately; they are calculated based on 2/3 of the key rate of the Central Bank of the Russian Federation.

You need to contact the agency involved in payments 2 weeks after the moratorium begins, but no later than 2 weeks before it ends. If the investor has not applied to the DIA for good reasons within the specified time frame, then the money can be issued to him on an individual basis upon presentation of the necessary documents. When the moratorium ends, there are two options:

• the bank's license is revoked and it ceases to exist;
• The sanitary measures taken have a positive effect on the financial condition of the organization, and it continues to operate as before.

Insurance compensation for deposits

According to the law on deposit insurance for an individual participant in legal relations, when applying to the DIA, 100% of the insurance is paid on the deposit. If a private individual had several deposits in a given organization, then the amount of contributions is recalculated in proportion to each deposit. However, you should know that the insurance law provides for a maximum amount of compensation of 1.4 million rubles, and if the amount for all deposits collectively exceeds this figure, then compensation for the difference in contributions is determined in court according to the list of 1st priority creditors.

Compensation for escrow accounts is made in 100% volume, if it does not exceed the amount of 10 million rubles. Payments for this insured event are made by the Agency in a separate manner, after reviewing all documents for opening this account. Money can be received directly at the DIA branch, through agent banks appointed by the fund, or by mail.

Payment amount

The legislation establishing the rules for insurance of individuals separately stipulates the situation in which the owner of the deposit simultaneously had a deposit in a banking organization and took out a loan there, which, by the time the insured event occurred, was not fully repaid. The amount of compensation will be calculated as the difference between the debit and credit account, taking into account all amounts of obligations of the debtor and creditor. Insurance premiums are paid on an individual basis.

Reimbursement currency

Compensation for deposits is made in rubles, therefore, for all deposits in foreign currency, recalculation is carried out according to the Central Bank exchange rate for a given currency at the time of the insured event. If the deposit is placed in foreign currency, then interest on foreign currency deposits is calculated based on data from the Central Bank on average interest rates for this type of bank deposit product.

If a moratorium has been introduced, and you do not want to receive compensation in rubles for a foreign currency deposit, then you can be patient and wait for the end of the sanitary measures. The financial institution will begin operating as before and will satisfy claims on deposits in proportion to deposit agreements. However, in such a situation, there is a possibility that the depositor will not receive the amount paid at all if the bank ceases to exist after the end of the moratorium.

How to receive insurance payments on deposits

In order not to suffer as a result of the bankruptcy of a banking institution and to return funds, the following steps should be taken:

• Check the list of insured funds established by law and find out whether your savings are included in them.
• On the DIA website, make sure that this bank is a participant in the DIA;
• From the media, bank notifications, messages to depositors, find out which agent bank was appointed by the DIA to make payments.
• Choose the most convenient way to receive compensation payment - cash, non-cash transfer, postal transfer.
• Write an application for insurance payment to the agent bank and come there in person with the required documents.
• Within 3 working days, receive the required amount using the specified method.
• If the amount of the deposit exceeds the maximum rate of insurance payment, then to compensate for the difference that insurance does not cover, go to court along with other creditors of the bank.

Documents for submission to the DIA

Compensation is paid by the DIA upon presentation of the following documents:

• Applications from the investor in the prescribed form. If you choose to receive money by mail, the application will have to be certified by a notary.
• Passport or other identification document, about which there is data in the general register of clients of the banking organization.
• When applying not to the depositor himself, but to his representative, a power of attorney certified by a notary is required for the right to demand payments.
• If the individual who entered into the agreement on its opening, and the investor’s heir, applies for payment of compensation, then it is required to submit documents evidencing his right to inheritance.

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Sooner or later, everyone has a question about how to store their savings. The most common way to invest funds today is to place them in deposit accounts of commercial banks. This protects savings from the harmful effects of inflation and generates a small income. But many citizens lost confidence in the banking system during the years of economic instability.

What should you do if the bank you are a client of has declared financial difficulties? Should we worry whether there is salvation in such a situation?

Deposit insurance for individuals is a system for protecting the population's funds in the event of bank failure or deprivation of its license. In this way, the state guarantees the financial security of ordinary citizens. Banks also receive their bonuses - insurance of deposits of individuals significantly increases customer confidence.

Insurance purposes

Similar systems exist in many countries around the world. Deposit insurance appeared in Russia in 2003. For what purposes was it introduced?

1. Stabilization of the state's financial system.
2. Reducing risks associated with banking operations.
3. Prevention of worsening financial crises.
4. Maintaining public confidence in the banking sector.

Agency

Deposit insurance is regulated by federal law. The Deposit Insurance Agency monitors the activities of banking institutions and protects the interests of depositors. The responsibilities of the corporation include maintaining a register of banks, collecting insurance premiums, recording depositors and paying compensation, maintaining and increasing the insurance fund by investing free funds. The activities of the Deposit Insurance Agency are controlled by the state. Due to the fact that the Agency is the only organization providing deposit insurance, the law clearly regulates its activities.

Where does the corporation get money for reimbursements? Funds are accumulated in the fund's accounts and come from several sources:

1. Commercial banks participating in the insurance program pay insurance premiums quarterly.
2. The agency actively increases and invests the funds received.
3. Part of the financial resources forming the insurance fund was received directly from the state.

Object of insurance

The legislation does not require the conclusion of additional contracts for deposit insurance. All citizen deposits eligible for the government program are considered insured. Thus, the objects of insurance are personal deposits of citizens, salary accounts and personal savings certificates.

There are groups of funds that are not included in compulsory insurance of deposits in banks:

Interest

Insurance of deposits of individuals raises many questions among ordinary citizens.
The most common of these concerns whether the insurance covers interest on deposits, that is, whether the amount of capitalized interest is the object of insurance.

When calculating the insurance compensation, interest is taken into account, which is added to the principal amount of the deposit account; this is reflected in the banking agreement. In this case, only those interests accrued at the time of termination of the bank's activities are taken into account. If the depositor withdrew interest, it will not be taken into account when determining the amount of insurance compensation.

Insurance case

Bank clients do not always know in which case they may need a service such as deposit insurance. The law clearly defines the concept of an insured event. This is a revocation of the license to operate from the bank where the deposit is placed. The Bank of Russia can deprive an institution of its license, for example, due to unsatisfactory financial condition (bankruptcy). The introduction of a moratorium on satisfying the claims of bank creditors is also recognized as an insured event. In this case, the Deposit Insurance Agency becomes obligated to make insurance payments.

Maximum amount of compensation

Deposit insurance is an effective system for increasing the volume of deposit transactions. When the bank is closed, deposits are reimbursed in full with any interest due, but in a total amount not exceeding 1,400,000 rubles. If a depositor has several deposits in a bankrupt bank, then payments on them are summed up, but cannot exceed 1,400,000 rubles.

If insured events occurred in several banks, then the depositor has the right to compensation of deposits in full for each bank (in other words, having 2 million rubles in bank A and 2 million in bank B, we will receive 1.4 million payments for each bank in individually, i.e. 2.8 million in total). Obviously, it is safer to store savings in different institutions.

The amount of payment is calculated based on the end of the day the insured event occurred. The amount of compensation in foreign currency is paid in rubles at the exchange rate on the day the insured event occurred.

Deposit insurance does not always provide full reimbursement. If the deposit amount exceeds the maximum possible insurance payment, then after the bank goes through bankruptcy proceedings, the depositor (as a first-priority creditor) will receive compensation for the rest of the deposit. This may take a long time, from six months. Speed ​​is another advantage of deposit insurance.

Procedure for applying for payment

Why is deposit insurance becoming increasingly widespread in world practice? The payment system for this type of insurance is simple and significantly strengthens confidence in national banks. Traditionally, investors and their heirs have the right to compensation. The right to payment cannot be acquired in any other way.

The depositor can apply for payment from the date of the insured event. The deadline is the day of completion of bankruptcy proceedings or the end of the moratorium.

The procedure for applying for payment is strictly regulated by law. Insurance of deposits of individuals is terminated if the depositor misses the application deadline. In this case, he may apply to the Agency with a request to extend this period. Reinstatement of the term is possible if:

• the application was prevented by force majeure or an emergency situation;
• the investor served in military service;
• the absence was due to a serious health condition or the period of inheritance.

When applying you must provide:

1. Application written according to the sample provided by the Agency.
2. Passport or other identification document.
3. Documents confirming the right to inheritance for heirs and a power of attorney for representatives of the investor.

Payment procedure

Payments of insurance compensation are made by the Agency, as required by law. Insurance of deposits of individuals is entirely under its jurisdiction. After the occurrence of an insured event, the Agency informs depositors about the place, time and procedure for accepting applications for insurance compensation. After the depositor provides the necessary documents, payment is made within three days, but not earlier than 2 weeks from the date of the insured event.

If the depositor does not agree with the amount of the payment, the compensation can be appealed. After providing additional documents, the Agency will recalculate within 10 calendar days. After receiving the insurance compensation, the depositor receives a certificate of the amounts paid and sends it to the bank. Payments are made in rubles, in cash or to a bank account.

So now you know how deposit insurance works. The system of banking institutions is stabilized when using this financial instrument, and depositors' savings are under state protection.

is a program of insurance and protection not only of the deposits of people who keep their personal savings in Sberbank.

Any person, carrying out one or another type of professional activity, regularly receives a certain amount of financial rewards for this. In order to protect themselves from criminal attacks and not lose what they have earned, many people prefer to keep their money in banking companies. In this case, the bank ensures the protection and safety of finances.

Sberbank practices insurance for a reason. The whole point is that any person wants to have a protected financial resource. The more guarantees a banking company gives to its clients, the higher its popularity. Accordingly, more interested people will resort to the services of such an authority.

Ensuring the safety of your money is what interests most everyone.

From the banking structure, investment initiators expect, first of all, insurance payments for unforeseen difficult life situations. To interest people, banking companies offer a fairly wide range of conditions for preserving not only invested funds, but also payments in case of unforeseen circumstances. Thus, companies attract more funds for their use.

Basic Rules

By resorting to this method of investment, a person gets the opportunity to make financial investments into his personal budget in case of health problems or financial difficulties. According to the current special provisions and norms, the owner of such a package is guaranteed to receive a certain amount of money in the event of life difficulties.

Of course, a person will incur additional costs for the provision of such services, but this approach will relieve him of worries about his future.

It should be noted that this service has time limits. Today this period is one hundred seventy-five days. The period begins its calculation from the moment the package is received. Of course, anyone can subsequently extend such a service, but this will require additional costs.

The amount of compensation paid directly depends on the volume of the deposit. That is, the more they invest, the more they can get. This package can be received either in person or remotely using a mobile device or computer.

It should be noted that the current rules define situations when the interested party will not be able to obtain insurance:

• if the injury or injury was sustained while driving while intoxicated;
• problems appeared after a natural disaster;
• a person has impaired his health by being isolated from society.

While the money is in the account, a certain percentage is accrued on it, which amounts to the entire amount of insurance payments.

Special case of protection

When a person receives financial payments for carrying out his professional activities, he, of course, disposes of them at his own discretion. With them he can purchase things and valuables or invest in any commercial projects. But they were and remain the most popular way to save earned money.

When transferring money to a banking institution for safekeeping, a person often wants to know what will happen to his Savings in the event of a sudden death. Of course, he can play it safe and draw up his last statement of will in advance, mentioning in it everything he has acquired, including deposits. That is, after his death, his family and friends will become the owners of all finances.

Banking companies, in turn, began to offer not only insurance in case of injury or illness, but also in case of sudden death of the depositor. In such unpleasant situations, not only invested funds will be transferred to potential recipients. They will also receive additional payments in connection with the loss of a loved one.

It is worth noting one important nuance. Applicants will have this opportunity only if the time period for the validity of the service has not expired at the time of the death of the owner of the funds. To prevent this from happening, the depositor will have to constantly re-enter an agreement of the appropriate nature with the banking company.

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