Russian Central Bank will Discuss Deposit Insurance Increase

The insurance rate may be increased up to 1.5 million rubles. 21.Nov.14 11:42 AM By Svetlana Siuhina Photo Toinnov.com    495

Russian Central Bank is planning to support new bill related to increase of deposit insurance. Now it is 700 thousand rubles. Specialists are planning to increase it up to 1.5 million rubles. This bill was introduced by the Deputy Head of State Duma Committee of Financial Market Anatoly Aksakov. He also offers to use the same system which is used by banks for funding Basic Deposit Insurance Agency. The interest rate is 0.1% from the average quarterly balances on individuals and individual entrepreneurs. The author of this bill is sure that such increase will make it easier for banks to attract additional liquidity. “When it comes to deposit insurance, Bank of Russia is based on the fact that it is high time to discuss such questions and take necessary measures which are essential at the moment. That is why we need to discuss the increase of deposit insurance level. I would announce particular figures at the moment. At the same time the approximate level of this insurance should be not less than 1.5 million rubles. I would like to stress that it is essential to start this discussion as soon as possible”, - says the First Deputy of   the Head of Central Bank. It should also be noted that licensesof29 banks have been called off in 2013. Moreover 71 banks will also be left without their licenses during this year.

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