List of banks included in the deposit insurance system for individuals in 2014

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Thirteen years ago, a structure for ensuring the safety of savings placed in credit financial institutions was legally introduced for depositors. The list of banks included in the deposit insurance system is public information available to every interested person. In 2014, the list reached nine hundred. But at the same time, the withdrawal of licenses began. The list has been drastically reduced. Only 4 units have been added in the last three years.

What is CER

The State Corporation "Deposit Insurance Agency" (DIA) is designed for operations with a list of banks included in the Deposit Insurance System (DIS). This made it much easier for citizens who want to open savings accounts to get their money back in case of bankruptcy of a financial institution or other force majeure situations.

Insurance is endowed with the status of mandatory, occurs automatically, without the participation of the contributor. Datafinanciers are required to send about an open deposit to the DIA.

Information about the security of invested money must be placed in the client rooms of offices in a conspicuous place. A complete list of banks included in the deposit insurance system occupies five pages. It is recommended to study this registry on the Agency's website.

Purpose of CERs

Free money a person wants to save and increase. Therefore, people become clients of financiers.

But every activity has its own professional risks. For example, an institution may go bankrupt. In such a situation, the probability of returning personal funds will become equal to zero. In order for individuals to place savings in accounts, the state created a CER structure to restore capital lost in financial troubles.

The presence of KFU (credit and financial institutions) in the annals of the agency is a state guarantee of a return in case of a negative development of events. The list of banks included in the deposit insurance system for individuals is formed and controlled on the basis of Russian legislation.

All CER participants are controlled by the Central Bank and the DIA. If violations occur, the Agency posts information about this on its own website.

How DIA works

To work with the funds of individuals, permission is required. Information on admission to work with individuals on the same day comes from the Central Bank of the Russian Federation to the Agency. If the Central Bank revokes the license, does not givepermission to accept funds from the public or generally prohibits activity, then information about this immediately gets to the Agency, and the legal entity is excluded from the register. In Russia, the list of banks included in the deposit insurance system is updated promptly.

Each KFU is obliged to transfer contributions to the DIA to form a specialized fund. In case of failure to meet deadlines or incomplete payments, the Agency has the right to appeal to the Bank of Russia to resolve the situation.

The full list of banks included in the deposit insurance system for individuals is regularly updated, and the number of participants in the system is constantly changing. In 2014, 855 positions were filled in the register. New institutions were included and some already included were excluded.

List of CFUs in CERs

As of December 1, 2017, there are 785 KFU in the register of active participants. Of these, 4 institutions do not have the right to open new deposits. There are 62 agent banks on the same list.

Liquidation of 287 credit financial companies completed. There are 325 organizations in the process of closing. Some companies have undergone reorganization.

After the recovery, institutions will continue to work. Thus, the rehabilitation of 20 companies has been completed. There are 4 offices in the process of transfer of property and liabilities. Sanitation of 25 organizations continues.

What will be insured

In banks included in the deposit insurance system, there is a single list of savings subject to insurance:

• Deposits to any establishedcontract term.
• Ruble deposits with no time limit for withdrawals and replenishments.
• Foreign currency deposits.
• Debit card accounts where salaries, pensions, student stipends are credited.
• Credit card accounts, if the client's personal money is placed on the card.
• Guardian and Trustee Reward Accounts.
• Funds of individual entrepreneurs. Item introduced since 2014.

Not eligible for public insurance:

• Transferred to trust management.
• Payable to bearer.
• Placed to accounts outside the country.
• On unallocated metal accounts.
• Received money without opening an account.

Due to the mass revocation of licenses, organizations from the structure of the DIA have a deficit in the Fund's budget, from which payments are made. The head of the Central Bank made an unpopular but necessary decision - to raise the safety factor by 0.03%. Now, 20 times more money is required for compensation than free funds pass according to the Fund's reports.

DIA Helpers

To speed up the payment of reimbursements to clients of bankrupt companies and to prevent reactions to uncomfortable waiting for settlements, the Agency appoints agent banks. Banks that are part of the deposit insurance system help bankrupt CFUs to reimburse clients for losses. The state guarantees that people will not lose their money.

Information aboutthe composition of agents is promptly updated on the Agency's website. As of 01.12.2017, 62 credit financial institutions are en titled to perform agency duties.

DIA informs that it is enough for affected clients to come to the branch with a passport, fill out the application form and wait for the result. Having received a notice of liquidation or reorganization of the "native" institution, one should check the press releases on the appointment of a payout agent and the list of banks included in the deposit insurance system and having the status of an agent on the Agency's website.

Individuals should be aware that they are not restricted to queuing, unlike legal entities.

The Agency's website publishes press releases for each problematic company, including a list of agents assigned to the bankrupt organization.

For example, Rosselkhoz was appointed as an agent for paying off the debts of Novy Symbol JSC and CB MFBank LLC.

5 agents have been appointed for Yugra Bank: Rosselkhoz, Sberbank, VTB24, UralSib and FC Otkritie. The last company on the list came under reorganization in the second half of 2017. The state introduced external management in Otkritie.

Depriving KFU of some opportunities

Lost the right to open new accounts and accept money from individuals four financial institutions. Two of them are registered in Moscow, one in Saratov and one in Dagestan. Violations of banking activities detected during the audit leave the opportunity to work withexisting accounts, but new clients - individuals can no longer be served by such organizations:

• JSC "Asia-Invest Bank" (JSC).
• State Specialized Russian Export-Import Bank (JSC).
• JSC RNKO Narat.
• RNKO PROMSVYAZINVEST (LLC).

Reliable vaults of 2017

The client, planning to place free savings on a deposit, evaluates the institution according to the following criteria:

• Financial stability.
• Possibility of long-term placement.
• Advantages over other KFU, including deposit interest.

Experience shows that the most reliable companies have lower rates than those who are not in the top ten of the CBR.

Potential investors need to be careful when building their personal portfolio. If there are amounts above one and a half million, it is prudent to allocate savings to banks in such a way that no more than 1.4 million rubles are accumulated in one account. This is the single account refund limit.

Wrong step - in the wake of rumors, trying to split a large deposit into small ones, withdraw money to relatives' accounts. Judicial practice shows that such steps in bankruptcy are recognized as fraudulent, and lost deposits are not refundable.

Protection of capital investors

The largest number of KFU is located in the capital. Therefore, the choice for opening an account for a Moscow client is made easier. the onlya precautionary measure is to check the list of banks included in the deposit insurance system on the website of the Moscow DIA Agency.

To prevent panic among the population and to reduce the outflow of cash, bankers create new attractive products. You should focus on the rating of the Central Bank. Although the story of Otkritie showed that even a company from the top ten is not immune from perturbations.