He is engaged in asv. Deposit Insurance Agency
The deposit insurance system in our country is imperfect, and the population is reluctant to give their money to banks. And all because of the lack of confidence in the reliability of institutions.
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A deposit insurance agency is a guarantor that your money will not be lost in case of bank closure or license revocation. What are the legal grounds for the activities of such an organization?
What it is
The Deposit Insurance Agency (DIA) is a state-level corporation that performs mandatory deposit insurance activities.
DIA pays funds to an individual if one of the insured events occurs. The law that the Agency is guided by was approved on December 23, 2003 ().
Functions of the Deposit Insurance Agency
The main purpose of the DIA is to ensure the functioning of the deposit insurance system.
To achieve it, the Agency performs a number of functions:
- organizes the accounting of a banking institution;
- collects insurance premiums and controls their receipt to the Compulsory Insurance Fund;
- takes measures to take into account the depositor's claims to banks and to pay compensations for the amounts deposited;
- if necessary, applies to the Central Bank of the Russian Federation, offering to apply certain measures of responsibility in the event of a recorded violation (in accordance with the procedure described in the law on the Bank of the Russian Federation, as well as other legislative acts);
- is engaged in the placement or investment of temporarily free funds of the Fund for compulsory deposit insurance in accordance with the law;
- if necessary, requires the bank to post information about the insurance system, as well as about the participation of banks in it, in certain buildings of the institution where depositors are served;
- is responsible for determining the procedure for paying the insurance premium;
- takes measures to prevent the bank from bankruptcy;
- acts as a qualified investor; performs the tasks of the liquidator in the event of bank bankruptcy, etc.
The DIA has the right to carry out transactions for the sale of property objects (which are the subject of a pledge) in order to ensure the fulfillment of the loan obligations of the credit counterparty of the Central Bank of the Russian Federation on the loan. In order to perform all the listed functions, the Agency does not need additional permissions in the form of licenses.
What is an adverse event
The depositor can apply for compensation from the moment the insured event occurs:
- if the bank has revoked the license of the Central Bank of the Russian Federation to conduct business, provided that the DIA's participation plan to settle the bank's obligations has not been implemented in accordance with the law approved on October 26, 2002 (in case of bankruptcy);
- if a moratorium has been introduced by the Central Bank of the Russian Federation on the fulfillment of the bank's creditor's claim.
Reimbursement procedure
To receive a refund, a depositor needs to write an application to the Deposit Insurance Agency. An identity card (passport) is also provided.
You can apply for funds from the moment the insured event occurs and until the bank is completely liquidated (this is about two years). There is a small chance that you will be reimbursed for late submission of the documentation package.
This is only possible in such cases:
- If you have evidence that you were sick and could not go to the department on your own.
- You were on a long business trip abroad.
- You did military service.
The funds are paid by the Agency (through an intermediary in the form of another bank) in accordance with the register of banks' obligations to depositors, which is formed by a banking institution when an insured event occurs.
The amount will be refunded within 3 days from the date of submission of the application (2 weeks after the occurrence of the insured event).
The DIA needs such a time to conduct inspections, receive data from banks on deposits, and also to organize the settlement.
If an authorized person applies for the amount of compensation on behalf of an individual, then it is worth presenting a notarized power of attorney.
Procedure:
- the depositor submits an application;
- The agency will issue an extract from the bank's registers, which will indicate the amount of the deposit;
- information about the time and place of receiving the refund will be published in the "Bulletin of the Central Bank of the Russian Federation" at the location of the banking institution;
- within a month from the date of receipt of the registers of obligations, the message will be sent to the depositor of the bank;
- then the money is returned to the applicant. Refunds can be made in cash or non-cash payments, transferring to bank accounts, which the depositor will name.
If desired, the depositor can receive funds by postal order at his place of residence.
In the event that the agency has not returned the funds in full, an individual has the right to demand that the bank pay the balance in accordance with the regulations of the Russian Federation, appealing the decision of the Deposit Insurance Agency in court.
Amount of compensation
The amount of compensation for deposits in banks, in relation to which one of the insured events occurred, must be paid in the amount of 100% of the deposit made. But there is also a limit - no more 1.4 million rubles in respect of those insured events that occurred after December 29, 2014
If depositors have several deposits in one banking institution, then funds are transferred for each deposit, but the total amount cannot exceed 1.4 million rubles.
If there is an agreement of escrow accounts (regarding individual entrepreneurs) that were opened for settlement when buying / selling real estate, the amount of compensation will be 100% of the funds that are on the account. The limit is 10 million rubles. Under such contracts, funds can be reimbursed separately from the rest.
When placing funds in foreign currency, the amount of compensation will be calculated in rubles in accordance with the rate that is valid at the time of the insured event.
In cases where banks act as creditors to depositors, the amount to be returned will be calculated as follows: from the amount of the bank's obligations, it is worth deducting the amount of the counterclaim of the banking institution against the depositor, which arose before the license was revoked or bankrupt.
Basic questions and answers
Which deposits are considered insured?
Individuals' money placed in a deposit and in a bank account can be insured. At the same time, it does not depend on which country the depositor is a citizen.
These include:
- time deposit, currency deposit, demand deposit;
- current account, also the one that is used for making payments with a plastic card, earning earnings, pension payments;
- money on the accounts of individual entrepreneurs;
- money in the account of the guardian, the beneficiary of which is the ward.
From what date are deposits considered insured?
Deposit insurance is carried out from the moment when the bank is included in the register of banks participating in the insurance system. Responsibility for this lies with the DIA Corporation. The depositor should not take any action.
How about interest - are they insured?
Interest on deposits is insured in cases where they have been transferred to the total amount in accordance with the rules described in the agreement or in the regulations of the Russian Federation.
According to the legislation, upon revocation of licenses, the deadline for fulfilling obligations to the depositor is considered to have arrived. This means that all interest will be added to the total amount and included in the calculations for insurance compensation.
What amount will be given to a depositor who has deposits in several branches of one banking institution?
Such contributions will be identified as one. When calculating the amount of compensation, representatives of the DIA will be guided by the general rules: 100% of the amount will be issued, but not more than the established limit.
This does not apply to deposits of spouses if they are in the same bank. Both husband and wife will receive 100% of the deposit amount, but not more 1.4 million rubles established by law.
How is the calculation of funds for deposits if they are placed in the same branch of the bank?
In such cases, the balances of all deposits for which the person is considered the beneficiary are summed up. If the amount exceeds the reimbursement limit, funds will be paid for each deposit in accordance with its size. For example, a depositor had 2 deposits in a banking institution ( 1.9 million rubles and 900 thousand rubles.)
The deduction amount will be:
The bank offered to transfer funds to another bank without opening accounts. Can you agree?
In this case, the contract will be terminated. And (according to the law), only those funds that are deposited with the bank and are supported by a bank deposit agreement are insured.
Therefore, the bank's client will lose the right to compensation in the event of an insured event. In addition, in case of early termination of the agreement on your initiative, you will not be able to receive interest on the deposit.
The bank does not return the deposit and asks the client to terminate the contract. What are the consequences for the depositor?
If the banking institution does not give the funds, then there is a possibility that its license has been revoked. In this case, you will be able to receive the amount of compensation from the Deposit Insurance Agency. But, if you submit an application for termination of the contract early, you lose such a right.
Do not follow the lead of a bank representative, because then you will lose not only the opportunity to receive the amount of compensation, but also the interest on the deposit.
What is the responsibility of the Agency in case of non-payment of the deposit reimbursement sums on time?
If the DIA did not timely transfer a certain amount to the depositor, then the depositor has the right to file claims against the deposit insurance agency. The corporation will have to transfer interest on the amount of non-payments at the refinancing rate set by the Central Bank.
Liquidation of banks
According to the law approved on February 25, 1999, the law (of December 2, 1990), law No. 127-FZ (of October 26, 2002), the Deposit Insurance Agency performs the functions of a liquidator and bankruptcy administrator of a credit institution.
Compulsory liquidation is carried out upon the submission of an application by the Central Bank of the Russian Federation, and the basis for this is the decision of the arbitration court.
This is possible if the price of the property of the credit company whose license was revoked is sufficient to fulfill the obligation to the borrower and the obligation to transfer the mandatory payment.
If the property objects are not enough to satisfy the requirements of the depositors, then in accordance with the decision of the arbitration court, the bankruptcy proceedings are carried out.
The DIA is appointed as the bankruptcy commissioner in accordance with the decision of the arbitral tribunal in the following cases:
- the credit institution had a license from the Central Bank of Russia to attract money to the deposit of an individual;
- in case of failure to submit to the court for approval the nominee of the bankruptcy commissioner - an individual, if the company becomes bankrupt, and there is no Central Bank license to attract money from the population to the deposit;
- if the bankruptcy trustee - an individual is released or removed by the court;
The agency must submit reports and other information on the course of liquidation to the Central Bank, the Arbitration Court. The meeting of borrowers of credit companies is also informed.
The bankruptcy estate for settlements with depositors includes:
- analysis of the state of property of banks that are being liquidated;
- inventory of the asset;
- determining the price of assets by evaluating them by independent structures;
- the collection from the debtor of funds on loans is carried out;
- the behavior of trades in property objects of the credit institution, which is being liquidated.
During liquidation, the Agency identifies and challenges transactions that were concluded to the detriment of the property interests of the bank and its borrowers. A search is underway for property objects that are illegally held by third parties.
Besides:
- Has the right to refuse to execute the contract and other transactions if losses may be incurred.
- The DIA can prosecute those citizens who are guilty of bank bankruptcy.
DIA is a corporation that allows depositors to take their money to banks with confidence, because they will be insured. After all, individuals will receive the deposited amount from the Deposit Insurance Agency in the event that an insured event occurs.
Video: Profitable place: the deposit insurance system
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Not so long ago I checked on my own skin how the Deposit Insurance Agency works. I want to note that I did not find any shortcomings. Efficiency is at the highest level, employees comply with all deadlines.
I invested money (200 thousand) in bank T., which has now become famous for its problems. I assumed that it was not advisable to trust my funds to such a bank, but I hoped to receive the promised 12%, and opened a deposit.
At first, the interest dripped safely, but then the license was revoked from the would-be institution.
I contacted the DIA, having previously reread all the information on their website. The money was paid through Sberbank. True, I had to stand in lines. I took only my passport with me.
Compensation was made even for those interests that were accrued in less than a month. Agree, it's nice to get in addition to the contribution
additional 1.7 thousand rubles.
At my request, the funds were transferred to my account with Sberbank.
Since I actually checked the work of the Agency and was completely satisfied, I can recommend to the others to insure their deposits. If the bank closes, then there will be no need to worry about the lost "hard-earned money".
I never thought I would get stuck in a story like this. Before making a deposit, I was interested in banks, checked their reliability in all possible ways, found out how resistant they are to market fluctuations.
We contacted the bank, whose accounts were in transit (they transferred funds on a mortgage loan). At the time when problems began in the institution, the overdue amount was far from 20 thousand rubles. We took them to the bank, left a request for transfer. But payments did not come, and the reasons were not announced. It took a long time to figure out and find out where our funds went.
Then they turned to the Deposit Insurance Agency. The amount was returned.
Pros - pleasant staff who will not say a rude word, advise on all issues, and help solve the problem. The money was reimbursed fairly quickly. Moreover, the amount can be transferred both in cash and by bank transfer.
In addition, you can subscribe to the newsletter on the official service, and you will receive all the information about the situation with the bank (its bankruptcy), which I did.
The work of the organization can be rated at all "5", but it is better that you do not have to deal with it!
Historically, in Russia, a bank deposit is the most popular way to save money. With the development of banking technologies, the process of managing personal finances has become more convenient and simpler - our salaries and pensions are credited to bank accounts, and Internet banking allows, without leaving home, to place these funds on deposits with better conditions. Undoubtedly, the leading factor supporting such a high degree of confidence of our citizens in this method of saving is the state deposit insurance system. Many of us have heard about this system, but only a few people learn about its structure and, as a rule, as a result of the occurrence of an insured event. In this article, we will try to fill this knowledge gap and explain how the Russian deposit insurance system works.
Deposit Insurance System and Deposit Insurance Agency
The deposit insurance system (CER) is an effective protection mechanism that provides for the insurance of individuals' deposits by the state. In the event of an insured event, compensation is paid to depositors by the Deposit Insurance Agency (DIA). Its creation was prompted by a wave of bankruptcies of financial institutions that swept across Russia in the late 90s. Thus, on December 23, 2003, federal law No. 177-FZ “On insurance of deposits of individuals in banks of the Russian Federation” was adopted, for the successful implementation of the norms of which the DIA was created in 2004.
The Agency maintains a register of CER participants, pays insurance compensation for deposits upon the occurrence of an insured event, and also manages the Mandatory Deposit Insurance Fund (FOSV). Over the entire period of the DIA's existence (from 2004 to January 2013), 130 insured events were recorded, 388.3 thousand people applied for insurance compensation, to whom 72.7 billion rubles were paid.
Similar CER systems operate in more than 100 countries and are designed to prevent panic among depositors, ensure the stability of the banking system and public confidence in it. We will tell you about how insurance is carried out and what event is recognized as an insured event.
Deposit insurance mechanism
The deposit insurance process is quite simple. The depositor makes a deposit to the bank and draws up a deposit agreement. There is no need to conclude a special deposit insurance contract: all the technical aspects of interaction with the DIA fall on the shoulders of the financial institution of your choice. The bank pays an insurance premium to the DIA on a quarterly basis in the amount of 0.1% of the total portfolio of deposits. Thus, the insurance is paid not by the depositors, but by the banks themselves.
All funds placed on the accounts of individuals, including those on debit plastic cards, are subject to insurance, except for:
- funds on the accounts of individuals - individual entrepreneurs without the formation of a legal entity, as well as on the accounts of lawyers and notaries opened for the implementation of these activities;
- bearer deposits;
- funds transferred by an individual to a bank in trust;
- deposits in precious metals;
- electronic money;
- deposits placed in foreign branches of Russian banks.
An insured event in accordance with Art. 8 FZ No. 177-FZ is:
- revocation of the CBR or revocation of the license of the bank with which you placed the deposit;
- moratorium of the CBR on meeting the claims of other creditors of the bank.
Such an outcome is possible during a time of serious financial difficulties for the bank, its complete ruin, or during an economic crisis. Next, we will consider how, and in what amount, depositors can receive a refund.
Insurance compensation
In the event of an insured event, depositors receive insurance compensation from the DIA. In accordance with the current legislation, compensation is paid in the amount of 100% of the amount of deposits in the bank, but not more than 1,400,000 rubles (clause 2 of article 11 of the Federal Law No. 177-FZ). Foreign currency deposits are recalculated based on the exchange rate of the Central Bank of Russia in effect at the date of the insured event.
According to Art. 11 ФЗ № 177-ФЗ, if the depositor has several deposits in one bank, and their total amount exceeds 1,400,000 rubles, compensation will be paid for each deposit in proportion to its size. If funds are deposited in several banks, then in each of them the depositor can receive up to 1,400,000 rubles.
According to Federal Law No. 451-FZ "On Amendments to Article 11 of the Federal Law" On Insurance of Individual Deposits in Banks of the Russian Federation "for insured events that occurred after December 29, 2014, the maximum amount of insurance compensation on accounts (deposits) of individuals , including individual entrepreneurs, increased to 1.4 million rubles.
Note that if the depositor had more than 1,400,000 rubles on the account, the depositor can also apply for the remaining funds, but already in the course of bankruptcy proceedings, when the bank's property will be sold. Payments are made on a first come, first served basis, and the claims of far from all depositors can be satisfied.
It is important to remember that if in the bank in respect of which the insured event occurred, you had not only a deposit, but also a loan, then the amount of compensation will be determined based on the difference between the amount of the deposit and your loan obligations.
What to do if an insured event occurs?
The procedure for the payment of insurance compensation is governed by Art. 12 FZ No. 177-FZ. According to the law, the DIA, within 7 days from the date of receipt from the bank of the register of its obligations to depositors, publishes in the Bank of Russia Bulletin and in the printed publication at the location of the bank a message containing data on the place, time and procedure for receiving applications from depositors for payment of compensation ... Also, within 1 month, the DIA sends a message to each depositor of the bank who is entitled to insurance compensation. In addition, clients can get all the necessary information at the bank itself.
The depositor or his representative must submit an application in the form specified by the DIA; documents proving their identity; documents for the right to inherit or use funds (if any). After that, the DIA provides the depositor with an extract from the registers indicating the amount of compensation and, within 3 working days from the day the depositor submits an application, but not earlier than 14 days after the occurrence of the insured event, pays the compensation.
The depositors who have received a refund are provided with a relevant certificate, and a copy of it is sent to the bank. If the depositor does not agree with the amount indicated in the register, he can submit additional documents to the DIA confirming the fact that the amount does not correspond to reality. The agency sends them to the bank, and that, if the depositor's claims are justified, must make changes to the register within 10 days and notify the DIA about it.
Reimbursement can be made either in cash or by transferring funds to the account specified by the depositor. Acceptance of applications, documents and payment of refunds can be carried out by the DIA with the involvement of agent banks.
The depositor can apply for insurance compensation from the day the insured event occurs and until the end of the bank liquidation process. If the client did not manage to do this within the allotted time for a good reason (due to a serious illness, long-term business trip, etc.), the DIA will accept his application and pay compensation after liquidation (you should not count on this without a good reason).
In conclusion, we note that, despite the well-functioning process of reimbursement and the obvious fundamental nature of the deposit insurance system, the size of its fund is not unlimited - at a critical moment it will be able to cover the liabilities of two or three large commercial banks. Therefore, when choosing a savings program, first of all, it is necessary to assess the reliability of a financial institution. However, if you prefer high-yield investments in little-known banks, it is recommended to diversify your deposit portfolio. By placing in each of them no more than 700 thousand rubles, you will insure yourself to a greater extent against financial losses, even in the event of bankruptcy of several financial institutions.
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The main function is to insure deposits of the population. Participation in the insurance system is mandatory for all banks entitled to work with private deposits, and deposits are considered insured from the day the bank is included in the register of banks participating in the compulsory deposit insurance system.
All funds in deposits and on accounts of individuals and entrepreneurs without forming a legal entity in banks (including debit plastic cards) are subject to insurance, with the exception of:
- funds on the accounts of lawyers and notaries, if they are opened in connection with the specified activity;
- bearer deposits;
- funds transferred to banks in trust;
- deposits in foreign branches of Russian banks.
Funds on metal accounts are also not subject to insurance, since the current legislation classifies only Russian currency and the currency of foreign states as funds, and not precious metals. In addition, electronic money and money transfers made without opening an account are not subject to insurance.
Fund
Funds to ensure the operation of the system are accumulated in the compulsory deposit insurance fund. The size of the fund as of December 1, 2014 amounted to 88.5 billion rubles.
Sources of fund formation in 2015:
- insurance premiums of banks in the amount of 75.7 billion rubles. (14.9% more than in the previous year)
- return of funds from the bankruptcy estate to repay the previously paid insurance compensation - 39.1 billion rubles.
- profit from investing temporarily idle funds of the fund - 9.1 billion rubles.
- other receipts - 1.1 billion rubles.
On July 1, 2015, the law introduced a system of differentiated rates. The base rate paid by all banks is set by the Agency at 0.1% of the calculation base, additional - 20% of the base rate, increased additional - 150% of the base rate. An additional or increased additional rate was applied by the bank if the maximum profitability of deposits attracted by it in the billing period exceeded the basic level of profitability of deposits calculated by the Bank of Russia by more than 2 percentage points. or 3 pp, respectively.
The Agency has developed a risk analysis system that makes it possible to assess the adequacy of the Fund's resources. The analysis takes into account the scenario conditions for the functioning of the economy, the main parameters of the forecasts of the socio-economic development of the Russian Federation, prepared by the Ministry of Economic Development of Russia.
To predict the Fund's resource flows, the methodology for assessing the financial stability of the compulsory deposit insurance system is used, using statistical processing of the reporting data of banks, as well as historical data on their bankruptcies.
For the quarterly assessment of the insurance risks of the system, along with the econometric model, models are used that allow assessing the financial stability of banks based on information about their credit ratings, as well as current market quotations of securities issued by banks and expert assessments.
Investment of the fund's assets is carried out on the principles of repayment, profitability and liquidity of the acquired assets. For the DIA, as for all other state corporations, the Government of the Russian Federation establishes the general procedure and conditions for investment, as well as the procedure and mechanisms for control over the investment of temporarily free funds.
The list of permitted assets for investing the fund's assets includes:
- government securities of the Russian Federation and constituent entities of the Russian Federation;
- deposits of the Bank of Russia;
- bonds of Russian issuers;
- shares of Russian issuers created in the form of public joint stock companies;
- mortgage-backed securities of Russian issuers;
- securities of international financial organizations admitted for placement or public circulation in the Russian Federation.
Investments of the fund's assets in deposits and securities of Russian credit institutions are not allowed. The investment structure of the Mandatory Deposit Insurance Fund is determined by the Board of Directors on an annual basis, taking into account the current and future conditions in the investment markets.
Insurance payments mechanism
If an insured event occurs in relation to the bank (its license to carry out banking operations is revoked), its depositor is paid monetary compensation - reimbursement of deposits in the amount of 100% of the amount of deposits, but not more than 1.4 million rubles. If the bank is liquidated (declared bankrupt), its settlements with the depositor in the part exceeding the specified payment are carried out later, in the course of liquidation procedures (bankruptcy proceedings) in the bank (if the bank has funds).
To receive reimbursement for deposits, a citizen must submit to the DIA (or an authorized agent bank) an application and a document proving his identity (usually a passport). This can be done at any time from the date of the insured event until the completion of the bank's liquidation (bankruptcy proceedings), which usually lasts two to three years. In exceptional cases, if there are valid reasons, the insurance indemnity is also paid to persons who did not apply within these terms.
Payment of compensation is made directly to the DIA or through an authorized agent bank in accordance with the register of the bank's obligations to depositors. Payments begin no later than 14 days from the date of the insured event. This period is necessary to receive information from the bank on deposits and organize settlements.
Upon the depositor's application, the payment can be made either in cash or by transferring funds to the bank account specified by the depositor.
The maximum amount of insurance compensation and the history of its increase:
- before August 9, 2006 - 100 thousand rubles;
- before March 25, 2007 - 190 thousand rubles;
- before October 1, 2008 - 400 thousand rubles;
- before December 28, 2014 - RUB 700 thousand;
- after December 29, 2014 - 1.4 million rubles.
As of August 1, 2016, 345 insured events occurred, a total of 2.25 million depositors were paid insurance compensation in the amount of RUB 1.05 trillion.
Criticism
The federal law on deposit insurance allows the DIA not to return deposits to persons who simultaneously have a loan from the bank. Funds from the deposit (deposit account) will be returned only after payment of the loan and without interest. At the same time, the DIA continues to charge interest on loans from liquidated banks.
Functions of a liquidator and a bankruptcy commissioner
The Agency also performs the functions of a liquidator and bankruptcy administrator of credit institutions.
The compulsory liquidation procedure is carried out at the request of the Bank of Russia on the basis of a decision of the arbitration court if the value of the property (assets) of a credit institution whose banking license has been revoked by the Bank of Russia is sufficient to fulfill its obligations to creditors and obligations to pay mandatory payments. If the property (assets) of the liquidated credit institution is insufficient to satisfy the claims of creditors, then a bankruptcy procedure is introduced in relation to it on the basis of the decision of the arbitration court.
The arbitral tribunal appoints the agency as a liquidator (liquidator) in the following cases:
- if the credit institution had a license from the Bank of Russia to raise funds for deposits of individuals;
- in case of failure to submit to the arbitration court in accordance with the procedure established by the Federal Law "On Insolvency (Bankruptcy)" to approve the nominee of a bankruptcy commissioner - an individual, in the event of bankruptcy of credit institutions that did not have a license from the Bank of Russia to attract citizens' funds into deposits;
- when the bankruptcy commissioner (liquidator) is released or removed by the arbitration court - an individual;
- in case of bankruptcy of absent credit institutions-debtors.
As of 2016, the agency performed the functions of a bankruptcy commissioner (liquidator) in 281 credit institutions, of which 172 banks being liquidated were registered in Moscow and the Moscow Region, 109 in other constituent entities of the Russian Federation. The number of creditors in liquidated banks (as of August 26, 2016) is 327 thousand people, the volume of established creditors' claims in liquidated banks amounted to about 1 trillion rubles.
The average percentage of satisfaction of creditors' claims (according to data for 2015) for 17 bankrupt banks, in which liquidation procedures were completed in the reporting period, amounted to 46.4%. In credit institutions in respect of which bankruptcy proceedings were completed in 2015, the claims of the first priority creditors were satisfied on average by 70.7%, the second - by 20.2%, and the third - by 16.3%.
By September 2016, as a corporate bankruptcy commissioner (liquidator), the agency was carrying out liquidation procedures in relation to 529 banks and fully completed them in 248 banks.
Financial rehabilitation (reorganization) of banks
In addition, the agency is entrusted with the functions of bank reorganization, the agency can carry out these measures by:
- providing financial assistance to investors purchasing shares (stakes in the authorized capital) of the bank in an amount that allows to determine the bank's decisions on issues related to the competence of the general meeting of its shareholders (participants);
- providing financial assistance to the purchasers of the bank's property and liabilities. Such acquirers may be financially stable banks, for which such a transaction will not cause them to violate the mandatory standards of the Bank of Russia or other negative consequences;
- the acquisition of shares (stakes in the authorized capital) of the bank in an amount that makes it possible to determine the bank's decisions on issues referred to the competence of the general meeting of its shareholders (participants);
- providing financial assistance to the bank, provided that the Agency and (or) the investor purchased its shares (stakes) from this bank in the established amount.
To participate in measures for the financial rehabilitation (reorganization) of banks, the law provides for both the attraction of interested private investors and government funding. For these purposes, 200 billion rubles were allocated to the Agency from the federal budget as a property contribution of the Russian Federation in 2008. In addition, it is possible to provide the Agency with loans from the Bank of Russia and use the funds of the compulsory deposit insurance fund.
Since October 2008, as of August 1, 2016, the agency has taken part in 30 bank reorganization projects. In total (on an accrual basis) as of December 31, 2015, more than RUB 1.5 trillion were allocated for bank reorganization, including RUB 1.27 trillion. - at the expense of loans from the Bank of Russia (including 294.81 billion rubles - for the purpose of reorganization of the Bank of Moscow), 259.33 billion rubles. - at the expense of the property contribution of the Russian Federation to the property of the agency, 7.75 billion rubles. - at the expense of the Fund.
Completed refurbishment projects as of August 2016:
- Gazenergobank
- "Tarkhany" (joined to "Russian Capital")
- "Gubernsky" (attached to the "Opening"
- "Nizhegorodpromstroybank"
- Nizhny Novgorod (merged with Promsvyazbank)
- "Nomos-Bank-Siberia" (formerly - "VEFK-Siberia")
- Petrovsky (previously - Bank VEFK; merged with Otkritie)
- "Potential" (added to "Russian Capital")
- "Northern Treasury" (attached to Alfa-Bank)
- Solidarity (merged with Probusinessbank)
- FIA Bank (agency administration)
Financial rehabilitation projects of five banks continued:
- "Bashinvestbank"
For three banks, the procedure was applied to transfer part of their property and all obligations to individuals under bank deposit or account agreements with financially sound purchasing banks:
- "Moscow Collateral Bank" (acquirer - "Bank of Moscow")
- Moscow Capital (Nomos-Bank)
- "Electronics" (National Reserve Bank)
In 2017, a federal law was adopted that allowed the Central Bank to reorganize banks bypassing the Deposit Insurance Agency - by directly lending to the investor through a specially created management company of the Banking Sector Consolidation Fund.
Management and structure
The agency's governing bodies are the board of directors, the board of directors and the general director. The supreme governing body is the Board of Directors, which includes seven representatives of the Government of the Russian Federation, five representatives of the Bank of Russia and the General Director of the Agency. Personal composition of the board of directors:
- Siluanov Anton Germanovich - Minister of Finance of the Russian Federation, Chairman of the Board of Directors
- Akimov Maxim Alekseevich - First Deputy Chief of Staff of the Government of the Russian Federation
- Barsukov Sergey Vladimirovich - Director of the Financial Policy Department of the Ministry of Finance of Russia
- Ignatiev Sergey Mikhailovich - Advisor to the Chairman of the Bank of Russia
- Isaev Yuri Olegovich - General Director
- Leshchevskaya Yulia Aleksandrovna - Director of the Department of Financial and Banking Activities and Investment Development of the Ministry of Economic Development of Russia
- Malyshev Fedor Ivanovich - Assistant of the Expert Directorate of the President of the Russian Federation
- Moiseev Alexey Vladimirovich - Deputy Minister of Finance of the Russian Federation
- Nabiullina Elvira Sakhipzadovna - Governor of the Bank of Russia
- Nikolay Podguzov - Deputy Minister of Economic Development of the Russian Federation
- Vasily Pozdyshev - Deputy Governor of the Bank of Russia
- Simanovsky Alexey Yurievich - First Deputy Governor of the Bank of Russia
- Sukhov Mikhail Igorevich - Deputy Chairman of the Bank of Russia
Agency departments:
- Deposit Insurance Organization Department
- Bank Restructuring Department
- Bank Liquidation Department
- Expert and analytical department
- Creditors Claims Settlement Department
- Deposit Insurance Fund Investment Department
- Asset Management Department
- Legal management
- Accounting and reporting department
- Planning and Strategic Development Department
- Public Relations Center
- Information Technology Department
- Information Security and Regime Office
- Case management
- Internal Audit Service
- Representative offices of the Agency in federal districts
In 2004-2012, the post of CEO of DIA held
The overwhelming majority of citizens do not have an idea of how the deposit insurance system (CER) is arranged, about the DIA, and also do not know about all the nuances related to this activity.
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DIA is a state organization, the purpose of which is to protect the funds of the population in credit institutions. In case of bank insolvency, the money on the deposit is returned to the clients.
How the CER works
CER is a system for protecting the finances held by private individuals through their insurance.
CER Parties:
- Depositors who place their savings in bank accounts are beneficiaries.
- The insurer is the DIA.
- Banks that are licensed and therefore have an agreement with the agency are CER participants and policyholders.
- The Bank of Russia is the body authorized to control the activities of the DIA.
- The Government of the Russian Federation controls the activities of the deposit insurance system, taking an active part in this system.
If the moment of occurrence of an insured event comes, the DIA undertakes to guarantee to pay people their savings, regardless of the scale and number of such cases in general.
CER operating principles
First of all, all banks that provide for the maintenance of individual accounts in their activities must be participants in the CER. Banks, in order to participate in DIS, must have financial stability, for this, the Central Bank of the Russian Federation conducts an audit of banks.
Participating banks undertake:
- To make payment of insurance contributions to the CER Fund, for late payments a penalty is imposed.
- Openly notify clients about CERs, the amount and payment procedure in the event of liquidation.
- Have a list of obligations to deposit holders, as well as fulfill other types of requirements that are prescribed in the Law.
- Claims indemnities have some limitations.
- Payments must be made on a tight schedule.
List of unprotected deposits and deposits subject to insurance
Only licensed banks can insure deposits. The list of such banks is available on the official website of the DIA. You need to know whether to trust the bank in which the client decided to open a deposit. Indeed, in the event of liquidation, the dubious bank will not refund the funds.
Most of the deposits are insured by the DIA, but there is also a list that indicates those that remain unprotected.
The following investments are covered by insurance:
- Savings left for a certain period and at interest.
- Current accounts.
- Demand deposit.
- Bank card accounts.
- Special accounts opened by entrepreneurs that were not previously covered by insurance payments.
- Funds of the wards, registered in the accounts of trustees and guardians.
- Money in escrow accounts.
But there is a list of deposits that are not protected from possible risks, among them:
- Bearer deposits (savings certificates).
- (OMS) - accounts that keep records of precious metals.
- Bearer deposits.
- Funds on e-wallet accounts.
- Deposits that are available in the branches of banks in Russia, but which are located abroad.
- Funds in trust management of the bank.
- Individual accounts opened by entrepreneurs before 2014.
- Specialized notary accounts.
Individual deposit insurance
Initially, this kind of insurance appeared in America, and then this system was introduced in many countries, including Russia, where the DIA began its work in 2004.
The insurance fund is replenished thanks to systematic deductions from the banks participating in the CER.
Previously, the amount that was subject to insurance had a limit of 700 thousand rubles, but now this value has doubled, amounting to 1.4 million rubles. This amount is currently insured. The amount of these funds is guaranteed to be returned to citizens.If banks do not fulfill their obligations, the client has the right to receive his funds, taking into account the accrued interest.
TCO restrictions
These restrictions are that not all savings are covered by the Insurance Law, there are those that are unprotected in a situation where the bank can no longer carry out its activities for any reason. This also applies to the maximum amount of coverage for deposits - 1, 4 million rubles. Simply put, more than this value, the bank's clients cannot be paid in the event of insured events.
License revocation fees
When the license is revoked due to the formation of CERs in the country, clients are guaranteed to receive their financial resources, which are available on deposits in banks.
This is necessary in order to provide protection to ordinary depositors, thereby increasing the level of customer confidence in banks. Payments are made by the DIA.
Liquidation of insolvent credit institutions
The procedure for the liquidation of an insolvent credit institution and bankruptcy is carried out in case of impossibility of further fulfillment of financial obligations to creditors, as well as tax and other mandatory payments.
A credit institution is recognized as incapable of continuing its operations if it does not fulfill its financial obligations within a period of up to two weeks from the time of their occurrence.
A characteristic feature in the bankruptcy procedure is the direct participation of the regulator, that is, the Central Bank of Russia, in this process.
Sanitation
Reorganization, or otherwise the rehabilitation of banks, is necessary in order to prevent bankruptcy. Only in the case when it is possible to avoid bankruptcy, this procedure will be considered successfully completed.
The grounds that give the right to carry out the procedure:
- Non-compliance with capital adequacy ratios established by the Bank of Russia.
- Repeated failure to fulfill monetary obligations to creditors within the last six months, failure to pay payments due to a shortage of funds within three days from the date when payments should be made.
- The risk of loss of solvency of the credit institution exceeded 10% in percentage terms.
- There is a decrease in the absolute value of capital by more than 20% in comparison with the maximum value reached in the last year.
- The amount of the capital for the reporting month became lower than the amount of the authorized capital.
Bank reorganization entails the following commonly used measures
- Providing financial assistance to the bank by its participants or other persons.
- Change in the structure of assets and liabilities of the bank.
- Acquisition of shares by the DIA or financial assistance provided to investors who acquire shares in the amount of at least 75%.
- Making changes in the organizational structure of the bank.
Insurance payout process
In the event of liquidation, the DIA assumes the reimbursement of funds to the bank's customers. In such a bank, interim management is appointed.Within two weeks from the date of revocation of the license, the deposit insurance agency chooses in which payments will be made. The client needs to apply to the selected DIA bank with a specific list of documents.
It includes the following documents:
- Application for payment of the deposit, completed in a special form.
- Identity document (passport). In the event of a change in passport data, supporting documents are required.
- If someone else will receive the money on the deposit, then a notarized power of attorney is also required.
After submitting an application with all the necessary documents within 3 days, the client has the right to receive a refund on the deposit, but at the same time, 14 days must pass from the date of the liquidation of the organization. Investors have the right to receive their funds in full immediately if they do not exceed 1.4 million rubles. At the same time, deposits can be in different currencies.
In the event that the amount of the deposit was more, the client, after receiving the guaranteed compensation for the deposit, draw up an additional claim for the remaining part of the amount that can be paid during the period until the end of the complete liquidation of the bank. This process can be extended over several years.
SV needs to make a list of the property of the credit institution and sell the property. Only after that, the bank's clients will be paid out funds in excess of the established limit. After the agent has made payments, he gives a certificate of receipt of compensation.
Actions in the absence in the lists for compensation
Situations may arise when clients with a deposit in the bank are not included in the lists for compensation. This can happen, for example, if the depositor opened a deposit a few days before the bank's license was revoked.
In this case, the client needs to apply directly to the DIA with an application or certain credit institutions. In addition to the application, it is necessary to present an agreement concluded with the bank and credit orders. After that, the Agency must check and make adjustments to the register. After verification, the DIA gives a written answer to the applicant. It may be such that the DIA will refuse, in this case it is necessary to go to court.
If the client does not agree with the amount paid, then it is necessary to proceed according to the same scheme.
Introduction. General overview of activities
The Deposit Insurance Agency was established in January 2004 on the basis of Federal Law No. 177-FZ of December 23, 2003 “On Insurance of Individual Deposits in Banks of the Russian Federation”. The agency is endowed with the following functions:
Ensuring the functioning of the deposit insurance system;
Acting as a bankruptcy commissioner (liquidator) of insolvent credit institutions;
Financial rehabilitation (reorganization) of banks.
The Agency maintains a register of banks participating in DIS, pays insurance compensation to depositors upon the occurrence of an insured event, and manages a compulsory deposit insurance fund (FOSV).
To predict the Fund's resource flows, the methodology for assessing the financial stability of the compulsory deposit insurance system is used, using statistical processing of the reporting data of banks, as well as historical data on their bankruptcies.
For the quarterly assessment of insurance risks of DIS, along with the econometric model, models are used to assess the financial stability of banks based on information about their credit ratings, as well as current market quotations of securities issued by banks and expert assessments.
Investment of the Fund's assets is carried out on the principles of repayment, profitability and liquidity of the acquired assets. For the DIA, as for all other state corporations, the Government of the Russian Federation establishes the general procedure and conditions for investment, as well as the procedure and mechanisms for monitoring the investment of temporarily free funds.
The list of permitted assets for investing the Fund's assets includes:
Government securities of the Russian Federation and constituent entities of the Russian Federation;
Bonds of Russian issuers;
Shares of Russian issuers created in the form of an OJSC;
Mortgage-backed securities of Russian issuers;
Securities of international financial organizations admitted to placement and (or) public circulation in the Russian Federation.
Investments of the Fund's assets in deposits and securities of Russian credit institutions are prohibited.
The structure of investments of the Mandatory Deposit Insurance Fund is determined by the Board of Directors of the DIA annually, taking into account the current and future conditions in the investment markets.
Insurance payments mechanism
If an insured event occurs in relation to the bank (its license to carry out banking operations is revoked), its depositor is paid monetary compensation - reimbursement of deposits in the amount of up to 700 thousand rubles. If the bank is liquidated (declared bankrupt), its settlements with the depositor in the part exceeding the specified payment are carried out later, in the course of liquidation procedures (bankruptcy proceedings) in the bank (if the bank has funds).
To receive reimbursement for deposits, a citizen must submit to the DIA (or an authorized agent bank) an application and a document proving his identity (usually a passport). This can be done at any time from the date of the insured event until the completion of the bank's liquidation (bankruptcy proceedings), which usually lasts two to three years. In exceptional cases, if there are valid reasons, the insurance indemnity is also paid to persons who did not apply within these terms.
Payment of compensation is made directly to the DIA or through an authorized agent bank in accordance with the register of the bank's obligations to depositors. Payments begin no later than 14 days from the date of the insured event. This period is necessary to receive information from the bank on deposits and organize settlements.
The average period for the actual start of payments is even less - 11.5 days. The gradual reduction in the start date of payments is a strategic guideline of the DIA, aimed at smoothing out the negative consequences of the occurrence of an insured event.
Upon the depositor's application, the payment can be made both in cash and by transferring funds to the bank account specified by the depositor.
The amount of insurance payments
In accordance with the current legislation, compensation for deposits is paid to the depositor in the amount of 100 percent of the amount of deposits in the bank, but not more than 700 thousand rubles. Foreign currency deposits are recalculated at the exchange rate of the Bank of Russia as of the date of the insured event.
When calculating the amount of insurance compensation, the amount of the bank's counterclaims against the depositor is deducted from the total amount of deposits.
The amount of compensation in one bank cannot exceed 700 thousand rubles, even if the depositor keeps money in several accounts. However, if he has deposits in different banks, in each of them the maximum amount of compensation will be 700 thousand rubles.
The maximum amount of insurance compensation and the history of its increase:
During the activity of the DIA as of April 2012, 120 insured events occurred. 330.6 thousand people applied for insurance compensation for a total amount of 59.5 billion rubles.
Register of banks participating in CERs
As of September 2012, 892 banks were participants in the DIS:
Operating banks licensed to work with individuals - 783;
Operating credit institutions that previously accepted deposits, but lost the right to attract funds from individuals - 10;
Banks in the process of liquidation (bankruptcy proceedings) - 100
Sign “Deposits are insured. Deposit insurance system "
The bank's participation in the compulsory deposit insurance system is evidenced by the sign “Deposit Insurance System. Deposits are insured. "
The sign can be used by a bank participating in the deposit insurance system by placing it on the windows of operating cash desks, on information stands, at the entrance to the bank's premises, on its ATMs, annual reports, on bank cards issued by the bank and other information carriers for customers.
The mark may be included in the forms of deposit / account agreements concluded with individuals, provided that the funds under these agreements are subject to insurance. The Bank also has the right to place the sign on its website on the Internet.
Bankruptcy proceedings (liquidation) of credit institutions
In accordance with Federal Law No. 40-FZ of February 25, 1999 "On Insolvency (Bankruptcy) of Credit Institutions", Federal Law No. 395-1 of December 02, 1990 "On Banks and Banking Activities" and Federal Law No. 127- The Federal Law "On Insolvency (Bankruptcy)" DIA performs the functions of a liquidator and bankruptcy administrator of credit institutions.
The compulsory liquidation procedure is carried out at the request of the Bank of Russia on the basis of a decision of the arbitration court if the value of the property (assets) of a credit institution whose banking license has been revoked by the Bank of Russia is sufficient to fulfill its obligations to creditors and obligations to pay mandatory payments. If the property (assets) of the liquidated credit institution is insufficient to satisfy the claims of creditors, then a bankruptcy procedure is introduced in relation to it on the basis of the decision of the arbitration court.
Appointment of the DIA as a bankruptcy commissioner (liquidator)
The Arbitration Court appoints the DIA as a bankruptcy commissioner (liquidator) in the following cases:
If the credit institution had a license from the Bank of Russia to raise funds for deposits of individuals;
In case of failure to submit to the arbitration court in the manner established by the Federal Law "On Insolvency (Bankruptcy)" to approve the nominee of a bankruptcy commissioner - an individual, in the event of bankruptcy of credit institutions that did not have a license from the Bank of Russia to attract citizens' funds for deposits;
When the bankruptcy commissioner (liquidator) is released or removed by the arbitration court - an individual;
In case of bankruptcy of absent credit institutions-debtors.
Bankruptcy (liquidation) statistics of credit institutions
As of September 2012, the functions of the bankruptcy commissioner (liquidator) were carried out by the Agency in 116 credit institutions, of which: in 114 bankruptcy proceedings were underway, in 2 - compulsory liquidation. 71 of the liquidated banks were registered in Moscow and the Moscow Region, 45 - in other constituent entities of the Russian Federation. The number of creditors in the liquidated banks as of the indicated date exceeds 65 thousand. The volume of established claims of creditors in the liquidated banks amounted to 279.8 billion rubles.
The average percentage of satisfaction of creditors' claims of 93 banks in which bankruptcy proceedings were completed for the entire period of the Agency's activity as of January 1, 2012 amounted to 17%. In credit institutions in respect of which bankruptcy proceedings were completed in 2011, creditors' claims were satisfied on average by 39.1%. At the same time, in three bankrupt credit institutions the claims of creditors of all queues were satisfied in full.
The remaining property was returned to the participants (shareholders) of seven out of fifteen credit institutions, where liquidation procedures were completed in 2011, after full settlement with creditors.
From the beginning of its activity until June 2012, as a corporate bankruptcy commissioner (liquidator), the Agency carried out liquidation procedures in respect of 288 banks and fully completed them in 172 banks.
The tasks of bankruptcy proceedings (liquidation). Representatives of the bankruptcy commissioner. Information on the progress of liquidation of credit institutions
In the course of bankruptcy proceedings (liquidation) of credit institutions, the Agency is engaged in:
Carrying out an inventory and appraisal of the credit institution's property by attracting an independent appraiser;
Ensuring the safety of the property of the liquidated credit institution;
Establishing creditors' claims and maintaining their register;
The formation of the bankruptcy estate;
Settlements with creditors of the credit institution;
Identification of signs of deliberate and fictitious bankruptcy, as well as the circumstances of the bankruptcy of a credit institution, which are the basis for bringing the heads and / or founders of the liquidated credit institution to subsidiary liability.
The Agency exercises the powers of the liquidator (liquidator) through the representatives appointed by it from among its employees, acting on the basis of a power of attorney.
The legislation requires the Agency to regularly provide reports and other information on the progress of liquidation procedures to the Bank of Russia, the arbitration court and the meeting (committee) of creditors of a credit institution, including by publishing information messages on the progress of bankruptcy proceedings (liquidation) in the media.
The formation of the bankruptcy estate for settlements with the bank's creditors includes an analysis of the state of the property of the bank in liquidation, an inventory of assets and the determination of their market value through an independent assessment, the collection of existing debts from debtors to the credit institution, as well as the organization and conduct of auctions in the property of the liquidated credit institution.
In the course of bankruptcy proceedings (liquidation), the DIA identifies and challenges transactions concluded to the detriment of the property interests of banks and their creditors (dubious transactions), searches for and reclaims illegally withheld bank property from third parties, declares refusal to execute contracts and other transactions of the credit institution, if the execution by the credit institution of these transactions entails losses for the credit institution in comparison with similar transactions made under comparable circumstances, and also, if there are grounds, takes actions to attract civil and criminal liability of persons guilty of bringing the credit institution to bankruptcy.
Financial rehabilitation (reorganization) of banks
Financial recovery tools (reorganization)
For three banks, the procedure was applied to transfer part of their property and all obligations to individuals under bank deposit / account agreements to financially sound acquirer banks:
As of April 2012, the total amount of financing for measures for the financial rehabilitation of banks, taking into account the repayment of the principal debt (including for assets acquired by the Agency or received as repayment of loans provided) is 492 billion rubles, of which the Bank of Russia was financed 345 billion rubles, due to the property contribution of the Russian Federation to the Agency - 147 billion rubles.
Governing bodies and organizational structure of the DIA
The agency's governing bodies are the board of directors, the board of directors and the general director. The supreme governing body of the DIA is the Board of Directors, which includes seven representatives of the Government of the Russian Federation, five representatives of the Bank of Russia and the General Director of the Agency. Personal composition of the board of directors:
FULL NAME. Position Siluanov Anton Germanovich Minister of Finance of the Russian Federation, Chairman of the Board of Directors Golubev Sergey Alexandrovich Deputy Chairman of the Bank of Russia - Director of the Legal Department Lukov Vladimir Valentinovich Deputy Director of the Financial Policy Department of the Ministry of Finance of Russia, since 2011 - Professor at the International University in Moscow Nikishin Andrey Viktorovich Deputy Head of the Foreign Economic Policy Department of the Expert Directorate of the President of the Russian Federation Popova Anna Vladislavovna Deputy Chief of Staff of the Government of the Russian Federation Alexey Savatyugin Deputy Minister of Finance of the Russian Federation Safronov Vladimir Alekseevich Head of the Main Inspectorate of Credit Institutions of the Bank of Russia Simanovsky Alexey Yurievich First Deputy Chairman of the Bank of Russia Dmitry Skripichnikov Deputy Director of the Department for Innovative Development and Corporate Governance of the Ministry of Economic Development of the Russian Federation Sukhov Mikhail Igorevich Deputy Chairman of the Bank of Russia Turbanov Alexander Vladimirovich General Director of the State Corporation "Deposit Insurance Agency" Kirill Yankov Deputy Head of the Federal Tax Service (until January 2012) The organizational structure of the Agency includes.