The State Corporation Deposit Insurance Agency

The State Corporation Deposit Insurance Agency was established in January 2004 on the basis of the Federal law On the Insurance of Household Deposits in Banks of the Russian Federation # 177-FZ dated 23.12.2003. To ensure operations of the deposit insurance system the Agency shall reimburse insured depositors when an insured event occurs; keep register of the deposit insurance systems member banks; monitor accumulation of the deposit insurance fund including verification of accuracy of the deposit insurance premiums paid by member banks; manage the resources of the deposit insurance fund. Number of the Deposit Insurance System member banks 806 (as of 14.03.2017), Number of insured events that have occurred (payouts) 390 (as of 03.03.2017) The Federal Law On amendments to the Federal Law On insolvency (bankruptcy) of credit organizations and on terminating some legal acts of the Russian Federation dated 20.08.2004 # 121-FZ established an institute of the corporate receiver/liqu...