The described Russian federal law was initially intended to establish state (financial) control over the area of ​​reimbursement of previously placed deposits of individuals. The main legal function was aimed at ensuring that even after the cessation of work (functioning) of a financial organization, the population (in particular, each depositor) could count on the payment of a certain amount. That is why this law is considered so necessary. We will describe in more detail the main dispositions of this federal law below.

Law on insurance of deposits of individuals in banks of the Russian Federation

Before the adoption of this Russian law, no deposit insurance existed (which also complicated the procedure). Individuals had the opportunity to independently arrange for this service by contacting the designated insurance company. Those. When placing a deposit in absolutely any bank, individuals had to independently take care of its further safety. Of course, this could not continue, so a new mandatory organizational order was required in this regard.

Before that, Russian banks did not have any independent insurance system, so if an organization ceased its activities for any reason, deposits were not returned to all individuals. A new Russian federal (with direct competence) executive body was needed. In accordance with this, much-needed mandatory amendments were made to the law on banks (and now returns are carried out without delay, regardless of the organization; deposits are returned by Sberbank and all other banks). Next we will describe how this Russian federal act works in practice.

When did Federal Law 177 come into force?

When the Federal Law on Insurance of Individuals' Deposits in Banks of the Russian Federation came into force, there is quite comprehensive data on this. This Russian federal law was originally developed back in 1998. At that time, in Russian banks, any activity was carried out on the basis of the main relevant act.

Deposit insurance was already designated in legislation within the Russian Federation on December 23, 2003. But the Russian Duma began to adopt it back in November. As a result, it was adopted only a month later, and from that time on, a whole system of open deposit insurance began to operate in the Russian Federation - i.e. a mandatory federal order was developed.

From that moment on, the agency also began to operate - the formation of this agency in the Russian Federation was aimed specifically at protecting all individuals in case any negative circumstances occurred in banks. The specified agency is listed as the regulator of the deposit insurance process in most banking structures. Those. This mandatory procedure does not apply to all organizations in the Russian Federation today.

Changes and amendments to the law today

There will not be any significant changes in the designated system for direct deposit insurance in the near future, because This mandatory procedure is subordinate. Those. In the Russian Federation, legislation on banks changes quite often, especially with regard to the system in question.

Amendments and changes to the law on insurance of deposits of individuals in banks of the Russian Federation before their adoption are usually published on specialized resources, where they can be downloaded. You can find out exactly when it will come into effect on the Central Bank of Russia resource or on the agency’s portal. Next, we will tell you exactly how insurance works.

What deposits are insured in accordance with the law on insurance of deposits of individuals in Russian banks

This Federal Law establishes the legal, financial and organizational basis for the functioning of the system of compulsory insurance of deposits of individuals in banks of the Russian Federation (hereinafter referred to as the deposit insurance system), the competence, procedure for the formation and activities of the organization performing the functions of compulsory deposit insurance (Deposit Insurance Agency, hereinafter also - the Agency), the procedure for paying compensation for deposits, regulates the relations between the banks of the Russian Federation, the Agency, the Central Bank of the Russian Federation (Bank of Russia) and the executive authorities of the Russian Federation in the field of relations on compulsory insurance of deposits of individuals in banks.

Chapter 1. General provisions

Article 1. The goals of this Federal Law and the relations regulated by it

1. The goals of this Federal Law are to protect the rights and legitimate interests of depositors of banks of the Russian Federation, strengthen confidence in the banking system of the Russian Federation and stimulate the attraction of savings from the population into the banking system of the Russian Federation.

2. This Federal Law regulates relations regarding the creation and operation of the deposit insurance system, the formation and use of its monetary fund, payment of compensation for deposits upon the occurrence of insured events, as well as relations arising in connection with the implementation of state control over the functioning of the deposit insurance system, and others relations arising in this area.

3. This Federal Law does not apply to other methods of insuring deposits of individuals to ensure their return and payment of interest on them.

4. In accordance with the purposes of this Federal Law, the specifics of the legal status of participants in the deposit insurance system and the determination of the essential conditions of compulsory deposit insurance, an insured event, payment of insurance premiums and receipt of insurance compensation for compulsory deposit insurance are established.

5. Relations arising in connection with the creation and operation of the deposit insurance system are regulated by this Federal Law, other federal laws, and in cases provided for by this Federal Law, by regulatory legal acts of the Government of the Russian Federation and regulatory acts of the Bank of Russia adopted in accordance with it. .

Article 2. Basic concepts used in this Federal Law

This Federal Law uses the following basic concepts:

1) bank - a credit organization that has permission from the Bank of Russia to attract funds from individuals on deposit and to open and maintain bank accounts for individuals, issued by the Bank of Russia to banks in the manner established by the Federal Law “On Banks and Banking Activities” (as amended by the Federal Law Law of February 3, 1996 N 17-FZ) (hereinafter referred to as the Federal Law “On Banks and Banking Activities”);

2) deposit - funds in the currency of the Russian Federation or foreign currency placed by individuals in a bank on the territory of the Russian Federation on the basis of a bank deposit agreement or a bank account agreement, including capitalized (accrued) interest on the deposit amount;

3) register of banks - a list of banks formed in accordance with this Federal Law that are registered in the deposit insurance system;

4) depositor - a citizen of the Russian Federation, a foreign citizen or a stateless person who has entered into a bank deposit agreement or a bank account agreement with the bank, or any of the specified persons in whose favor the deposit was made;

6) permission from the Bank of Russia - a license issued by the Bank of Russia for the bank to attract funds from individuals as deposits and to open and maintain bank accounts for individuals in the manner established by the Federal Law “On Banks and Banking Activities”;

7) deficit of the compulsory deposit insurance fund - insufficiency of the compulsory deposit insurance fund to pay compensation for deposits within the time limits established by this Federal Law.

Article 3. Basic principles of the deposit insurance system

The main principles of the deposit insurance system are:

1) mandatory participation of banks in the deposit insurance system;

2) reducing the risk of adverse consequences for depositors in the event of banks’ failure to fulfill their obligations;

3) transparency of the deposit insurance system;

4) the cumulative nature of the formation of a compulsory deposit insurance fund at the expense of regular insurance contributions from banks participating in the deposit insurance system.

Article 4. Participants in the deposit insurance system

Participants in the deposit insurance system are:

1) investors recognized as beneficiaries for the purposes of this Federal Law;

2) banks included in the established procedure in the register of banks, recognized for the purposes of this Federal Law as insurers;

3) An agency recognized for the purposes of this Federal Law as an insurer;

4) the Bank of Russia when it exercises functions arising from this Federal Law.

Article 5. Deposits, insurance of which is carried out in accordance with this Federal Law

1. In accordance with this Federal Law, deposits are subject to insurance in the manner, amounts and conditions established by Chapter 2 of this Federal Law, with the exception of funds specified in Part 2 of this article.

2. In accordance with this Federal Law, the following funds are not subject to insurance:

1) placed on bank accounts of individuals engaged in entrepreneurial activities without forming a legal entity, if these accounts are opened in connection with the specified activity;

2) placed by individuals in bearer bank deposits, including those certified by a savings certificate and (or) bearer savings book;

3) transferred by individuals to banks for trust management;

4) placed on deposit in branches of banks of the Russian Federation located outside the territory of the Russian Federation.

3. Deposit insurance is carried out by virtue of this Federal Law and does not require the conclusion of an insurance agreement.

Article 6. Participation of banks in the deposit insurance system

1. Participation in the deposit insurance system in accordance with this Federal Law is mandatory for all banks.

2. The bank is considered a participant in the deposit insurance system from the day it is registered until the day it is deregistered from the deposit insurance system in accordance with Article 28 of this Federal Law.

3. Banks are obliged:

1) pay insurance premiums to the compulsory deposit insurance fund (hereinafter referred to as insurance premiums);

2) provide depositors with information about their participation in the deposit insurance system, the procedure and amount of receiving compensation for deposits;

3) post information about the deposit insurance system in bank premises accessible to depositors where depositor services are provided;

4) keep records of the bank’s obligations to depositors, allowing the bank to create on any day a register of the bank’s obligations to depositors in the form established by the Bank of Russia at the proposal of the Agency;

5) perform other duties provided for by this Federal Law.

Chapter 2. Procedure and conditions of payment

refunds on deposits

Article 7. Rights of depositors

1. Investors have the right:

1) receive compensation for deposits in the manner established by this Federal Law;

2) report to the Agency about facts of delay by the bank in fulfilling obligations on deposits;

3) receive from the bank in which they place the deposit and from the Agency information about the bank’s participation in the deposit insurance system, about the procedure and amount of receiving compensation for deposits.

2. A depositor who has received compensation for deposits placed in a bank in respect of which an insured event occurred retains the right to claim against this bank for an amount determined as the difference between the amount of the depositor’s claims against this bank and the amount of compensation paid to him for deposits in this bank. Satisfaction of such right of claim of the depositor to the bank is carried out in accordance with the civil legislation of the Russian Federation.

Article 8. Insured event

1. For the purposes of this Federal Law, an insured event is one of the following circumstances:

1) revocation (cancellation) of the bank’s license from the Bank of Russia to carry out banking operations (hereinafter referred to as the Bank of Russia license) in accordance with the Federal Law “On Banks and Banking Activities”;

2) the introduction by the Bank of Russia, in accordance with the legislation of the Russian Federation, of a moratorium on satisfying the claims of the bank’s creditors.

2. An insured event is considered to have occurred from the date of entry into force of the act of the Bank of Russia on the revocation (cancellation) of the bank’s license of the Bank of Russia or the act of the Bank of Russia on the introduction of a moratorium on satisfying the claims of the bank’s creditors.

Article 9. Emergence of the depositor’s right to compensation for deposits

1. The depositor’s right to claim compensation for deposits arises from the date of the insured event.

2. A person who acquired the right to claim deposits from a depositor after the occurrence of an insured event does not have the right to compensation for such deposits.

Article 10. Procedure for applying for compensation for deposits

1. The depositor (his representative) has the right to apply to the Agency with a demand for payment of compensation for deposits from the day the insured event occurs until the day the bankruptcy proceedings are completed, and if the Bank of Russia introduces a moratorium on satisfying creditors’ claims - until the day the moratorium ends.

2. If a depositor misses the deadline for filing a claim for compensation for deposits, the deadline specified in Part 1 of this article, upon application of the depositor, may be restored by a decision of the Agency’s board in the presence of one of the following circumstances:

1) if the depositor’s request for payment of compensation for deposits was prevented by an extraordinary and unavoidable circumstance under the given conditions (force majeure);

2) if the depositor served (is undergoing) military service by conscription or was (is) part of the Armed Forces of the Russian Federation (other troops, military formations, bodies) transferred to martial law - for the period of such service (martial law);

3) if the reason for missing the specified period is related to the personality of the depositor (including his serious illness, helpless condition).

3. The decision of the Agency’s board to refuse to restore the missed deadline for filing a claim for payment of compensation for deposits can be appealed by the depositor in court.

4. When contacting the Agency with a request for payment of compensation for deposits, the depositor submits:

1) an application in the form determined by the Agency;

2) documents proving his identity.

5. When applying to the Agency with a request for payment of compensation for deposits, the depositor’s representative, along with the documents specified in paragraphs 1 and 2 of part 4 of this article, also submits a notarized power of attorney.

Article 11. Amount of compensation for deposits

1. The amount of compensation for deposits to each depositor is established based on the amount of deposit obligations of the bank in respect of which the insured event occurred to this depositor. When calculating the amount of the bank's obligations to the depositor, only deposits insured in accordance with Article 5 of this Federal Law are taken into account.

2. Compensation for deposits is paid to the depositor in the amount of 100 percent of the amount of deposits in the bank in respect of which the insured event occurred, but not more than 100,000 rubles.

3. If a depositor has several deposits in one bank, the total amount of liabilities of which on these deposits to the depositor exceeds 100,000 rubles, compensation is paid for each of the deposits in proportion to their size.

4. If an insured event occurs in relation to several banks in which the depositor has deposits, the amount of insurance compensation is calculated for each bank separately.

5. The amount of compensation for deposits is calculated based on the amount of funds remaining on the depositor’s deposit(s) in the bank at the end of the day the insured event occurs.

6. If the obligation of the bank in respect of which the insured event occurred to the depositor is expressed in foreign currency, the amount of compensation for deposits is calculated in the currency of the Russian Federation at the rate established by the Bank of Russia on the day the insured event occurred.

7. If the bank in respect of which the insured event occurred also acted as a creditor in relation to the depositor, the amount of compensation for deposits is determined based on the difference between the amount of the bank’s obligations to the depositor and the amount of counterclaims of this bank to the depositor that arose before the day the insured event occurred. case.

Article 12. Procedure for payment of compensation for deposits

1. The agency, within seven days from the date of receipt from the bank in respect of which the insured event occurred, sends a register of the bank’s obligations to depositors to this bank, as well as for publication in the “Bulletin of the Bank of Russia” and the printed publication at the location of this bank a message about the location , time, form and procedure for accepting applications from depositors for payment of compensation for deposits. Within a month from the date of receipt from the bank of the register of the bank’s obligations to depositors, the Agency also sends a corresponding message to the depositors of the bank in respect of which the insured event occurred.

2. The depositor has the right to receive the information specified in Part 1 of this article directly from the bank in respect of which the insured event occurred, as well as from the Agency.

3. When a depositor (his representative) submits to the Agency the documents provided for in parts 4 and 5 of Article 10 of this Federal Law, the Agency provides the depositor with an extract from the register of the bank’s obligations to depositors indicating the amount of compensation for his deposits.

4. Payment of compensation for deposits is made by the Agency in accordance with the register of the bank’s obligations to depositors, formed by the bank in respect of which the insured event occurred, within three days from the date the depositor submitted to the Agency the documents provided for in parts 4 and 5 of Article 10 of this Federal Law, but not earlier than 14 days from the date of the insured event.

5. When paying compensation for deposits, the Agency provides the depositor with a certificate of the amounts paid and the deposits for which compensation was made, and sends a copy of it to the bank.

6. If, through the fault of the Agency, the agreed amount of compensation for deposits is not paid within the time limits established by this article, the Agency shall pay the depositor interest on the amount of non-payment, calculated in the amount of the refinancing rate established by the Bank of Russia on the day of the actual payment of compensation for deposits by the Agency.

7. If the depositor disagrees with the amount of compensation for deposits to be paid, the Agency invites the depositor to submit to the Agency additional documents confirming the validity of his claims, and sends them to the bank for consideration. Within 10 days from the date of receipt of these documents, the bank is obliged to send to the Agency a message about the results of consideration of the depositor’s claims and, if necessary, about changes in the register of the bank’s obligations to depositors.

8. After agreeing with the bank and the depositor on the amount of the bank’s obligations, on the basis of additionally submitted documents, the Agency pays the depositor the amount of compensation for deposits in the prescribed manner.

9. If, in the manner prescribed by parts 2 and 3 of Article 10 of this Federal Law, the period for filing a claim for payment of compensation for deposits is restored, the depositor has the right to receive compensation for deposits in an amount corresponding to the amount of the bank’s obligations to him, indicated in the register of bank obligations to investors.

10. In case of disagreement with the amount of compensation to be paid on deposits, the depositor, in accordance with the legislation of the Russian Federation, has the right to apply to the court with a claim to establish the composition and amount of the relevant claims, as well as the compensation to be paid on deposits.

11. Payment of compensation for deposits can be made at the request of the depositor either in cash or by transferring funds to a bank account specified by the depositor.

12. Acceptance from depositors of applications for payment of compensation for deposits and other necessary documents, including those provided for in parts 4 and 5 of Article 10 of this Federal Law and part 7 of this article, as well as payment of compensation for deposits can be carried out by the Agency through agent banks operating on his behalf and at his expense. The procedure for interaction of agent banks with the Agency, including standards for compensation of costs of agent banks, is established by the Board of Directors of the Agency. The procedure for the competitive selection of agent banks is established by the Agency's board of directors in agreement with the federal antimonopoly authority.

13. Payment of compensation for deposits is made in the currency of the Russian Federation.

Article 13. Transfer of the depositor’s right of claim after payment of compensation for deposits

1. The Agency, which paid compensation for deposits, shall, within the limits of the paid amount, receive the right of claim that the depositor had against the bank in respect of which the insured event occurred.

2. During bankruptcy proceedings in a bank in respect of which an insured event occurred, the claims transferred to the Agency as a result of its payment of compensation for deposits are satisfied in the first place of creditors.

3. In cases of bank bankruptcy, the rights of claim against the bank transferred to the Agency as a result of its payment of compensation for deposits are represented by the federal executive body authorized by the Government of the Russian Federation (hereinafter referred to as the authorized body).

4. After the Agency has paid compensation for deposits, the authorized body takes measures to collect from the bank the amounts of debt to the Agency, to which it has received the right in accordance with parts 1 and 2 of this article, in the manner established by the legislation of the Russian Federation. The amount of collected debt is subject to credit to the compulsory deposit insurance fund.

5. Upon expiration of the moratorium on satisfying the claims of bank creditors established by the Bank of Russia, the Agency has the right to provide the bank whose depositors received compensation for their deposits with a deferment or installment payment plan.

6. Deferment of debt repayment can be granted for a period of up to six months with a lump sum payment of the debt.

7. Installment payment of debt can be provided for a period of up to a year with stage-by-stage payment of the debt amount.

8. Interest is accrued on the debt amount based on a rate equal to one-half of the Bank of Russia refinancing rate that was in effect during the period of deferment or installment payment of the debt.

Chapter 3. Status, purpose of activity and powers

Deposit insurance agencies

Article 14. Deposit Insurance Agency

1. In order to carry out the functions of compulsory deposit insurance, the Deposit Insurance Agency is created.

2. The Agency is a state corporation created by the Russian Federation, the status, purpose of activity, functions and powers of which are determined by this Federal Law and the Federal Law of January 12, 1996 No. 7-FZ “On Non-Profit Organizations”.

3. The Agency has a seal with the image of the State Emblem of the Russian Federation and with its name.

4. The agency has an account with the Bank of Russia.

5. The location of the central bodies of the Agency is the city of Moscow.

Article 15. Purpose of activity and powers of the Agency

1. The purpose of the Agency’s activities in accordance with this Federal Law is to ensure the functioning of the deposit insurance system.

2. When performing the functions of compulsory deposit insurance, the Agency:

1) organizes accounting of banks (maintains a register of banks);

2) collects insurance premiums and controls their receipt into the compulsory deposit insurance fund;

3) takes measures to take into account the claims of depositors to the bank and pay them compensation for deposits;

4) has the right to apply to the Bank of Russia with a proposal to apply to banks for violation of the requirements of this Federal Law the penalties provided for in Article 74 of the Federal Law of July 10, 2002 N 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)” (hereinafter - Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”) and regulations of the Bank of Russia;

5) places and (or) invests temporarily available funds from the compulsory deposit insurance fund in the manner prescribed by this Federal Law;

6) has the right to require banks to post information about the deposit insurance system and the bank’s participation in it in bank premises accessible to depositors in which depositor services are provided;

7) determines the procedure for calculating insurance premiums in accordance with Article 36 of this Federal Law;

8) exercises other powers aimed at achieving the goals set for the Agency in accordance with this Federal Law.

3. The Agency’s implementation of functions for compulsory deposit insurance on the basis of this Federal Law does not require obtaining a license to carry out insurance activities.

Article 16. Property of the Agency

1. The Agency’s property is formed from property contributions in accordance with Article 50 of this Federal Law, insurance premiums, as well as from income received by the Agency from the placement of funds, funds from the issue of issue-grade securities and other legal proceeds.

2. The Agency is not liable for the obligations of the Russian Federation. The Russian Federation is not liable for the Agency's obligations, unless otherwise provided by federal law.

3. The Agency uses its property to perform the functions provided for by this Federal Law.

Article 17. Management bodies of the Agency

The governing bodies of the Agency are the Board of Directors of the Agency, the Management Board of the Agency and the General Director of the Agency.

Article 18. Board of Directors of the Agency

1. The highest governing body of the Agency is the Board of Directors of the Agency. The Agency's board of directors includes 13 members - seven representatives of the Government of the Russian Federation, five representatives of the Bank of Russia and the Agency's general director. The Director General of the Agency is an ex officio member of the Board of Directors of the Agency.

2. The Chairman of the Board of Directors of the Agency is elected by the Board of Directors of the Agency on the recommendation of the Government of the Russian Federation.

3. Meetings of the Agency’s board of directors are convened by its chairman or at least one third of the members of the Agency’s board of directors as necessary, but at least once a quarter.

4. The Agency’s Board of Directors is competent to make decisions if at least half of its members are present at the meeting. Decisions of the Agency's board of directors are made by a simple majority of votes from those present. If the number of votes is equal, the vote of the person presiding at the meeting of the Agency's board of directors is decisive.

5. A meeting of the Agency’s board of directors is held by the chairman of the Agency’s board of directors, and in his absence by a person authorized by the chairman of the Agency’s board of directors.

6. The minutes of the meeting of the Agency’s board of directors are signed by the chairman of the meeting of the Agency’s board of directors. The opinion of the members of the Agency's board of directors who remained in the minority during the voting is entered into the minutes at their request.

Article 19. Powers of the Agency’s board of directors

When performing the functions of compulsory deposit insurance, the Agency’s board of directors:

1) approves the proposals of the Agency’s board on the projected amount of expenses from the federal budget to cover the deficit of the compulsory deposit insurance fund in the next year and sends them to the Government of the Russian Federation for inclusion in the draft federal law on the federal budget for the next year;

2) establishes the rate of insurance premiums;

3) determines the directions, conditions and procedure for placement and (or) investment of temporarily free funds of the Agency, as well as the maximum amount of placed and (or) invested funds;

4) decides on the existence of a deficit in the compulsory deposit insurance fund and sends proposals on the procedure for covering it in the event of an insured event to the Government of the Russian Federation no later than five days from the date of receipt of the notification from the Agency’s board;

5) decides to transfer to the federal budget in accordance with the budget legislation of the Russian Federation the federal budget funds received in accordance with this Federal Law after the financial stability of the compulsory deposit insurance fund is restored;

6) approves the procedure for calculating insurance premiums;

7) approves the Agency’s annual report;

8) approves the procedure for granting banks a deferment or installment plan for debt repayment in cases provided for by this Federal Law;

9) approves the Agency’s cost estimate;

10) approves the organizational structure of the Agency;

11) decides on the creation of branches and the opening of representative offices of the Agency;

12) appoints and dismisses the Director General of the Agency;

13) appoints and dismisses members of the Agency’s board of directors;

14) appoints the Agency’s auditor;

15) hears reports from the Director General of the Agency on issues of the Agency’s activities;

16) approves the work regulations of the Agency’s board;

17) manages the activities of the Agency’s internal audit service;

18) makes a decision on the Agency’s issue of bonds and other issue-grade securities;

19) exercises other powers provided for by this Federal Law.

Article 20. Agency Board

1. The quantitative composition of the Agency’s board is determined by the Agency’s board of directors. The Director General of the Agency is an ex-officio member of the Agency's board and directs the work of the Agency's board.

2. Members of the Agency’s board of directors, with the exception of the Agency’s General Director, are appointed to a position for a period of five years by the Agency’s Board of Directors upon the proposal of the Agency’s General Director.

3. Members of the Agency's board work for the Agency on a permanent basis.

4. Members of the Agency’s board may be dismissed from office:

1) upon expiration of the term of office specified in this article by the Director General of the Agency;

2) before the expiration of the term of office specified in this article by the Board of Directors of the Agency on the proposal of the General Director of the Agency.

5. The Agency’s Board of Directors acts on the basis of the Agency’s Board of Directors regulations approved by the Agency’s Board of Directors, which establishes the timing and procedure for convening and holding its meetings, as well as the procedure for making decisions.

6. Minutes are kept at the meeting of the Agency's board. The minutes of the meeting of the Agency's board of directors are presented to members of the Agency's board of directors, external and internal auditors upon their request.

7. Meetings of the Agency’s board are organized by the Agency’s general director or a person authorized by him. The minutes of the Agency's board meeting are signed by the chairman of the board meeting and one of the Agency board members present at the meeting.

Article 21. Powers of the Agency's board

When performing the functions of compulsory deposit insurance, the Agency's board:

1) decides to pay depositors compensation for deposits;

2) makes a decision to include a bank in the register of banks and to exclude a bank from the register of banks in the manner established by this Federal Law;

3) applies to the Bank of Russia with a proposal to apply liability measures to the bank in accordance with Article 74 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”;

4) submits for approval to the Board of Directors of the Agency proposals on the development of the deposit insurance system, directions, conditions and procedure for placing and (or) investing temporarily free funds of the compulsory deposit insurance fund;

5) submits for approval to the Board of Directors of the Agency proposals on the size of the compulsory deposit insurance fund, sufficient to make the expected compensation payments for deposits in the coming year, the projected amount of expenses from the federal budget to cover the deficit of the compulsory deposit insurance fund in the coming year;

6) sends to the Board of Directors of the Agency a notification about the presence of a deficit in the compulsory deposit insurance fund based on data from the registers of banks’ obligations to depositors, the formation of which is provided for in paragraph 4 of part 3 of Article 6 of this Federal Law, no later than three days from the date of receipt from the bank of the register of the bank’s obligations to depositors depositors in accordance with Part 1 of Article 30 of this Federal Law;

7) reviews the Agency’s annual report and submits it for approval by the Agency’s board of directors;

8) submit proposals on the use of the Agency’s profits to the Board of Directors of the Agency;

9) approves the Agency’s staffing table, determines the terms of hiring, dismissal, official duties and rights, the system of disciplinary sanctions, the amount and forms of remuneration for Agency employees;

10) exercise other powers provided for by this Federal Law, if they are not within the competence of the Agency’s board of directors.

Article 22. Director General of the Agency

1. The General Director of the Agency is appointed to the position by the Board of Directors of the Agency upon the proposal of the Chairman of the Board of Directors of the Agency for a period of five years. The candidacy of the Director General of the Agency is submitted to the Board of Directors of the Agency one month before the expiration (end) of the term of office of the Director General of the Agency.

2. The Director General of the Agency may be dismissed from office by the Board of Directors of the Agency upon the proposal of the Chairman of the Board of Directors of the Agency in the following cases:

1) expiration of his term of office;

2) submitting a personal resignation letter to the chairman of the Agency’s board of directors;

3) committing a criminal offense established by a court verdict that has entered into legal force;

4) violations of federal laws that regulate relations related to the activities of the Agency.

Article 23. Powers of the Director General of the Agency

General Director of the Agency:

1) acts on behalf of the Agency and represents its interests without a power of attorney in relations with government bodies, organizations of foreign states and international organizations, other institutions and organizations;

2) heads the board of the Agency and organizes the implementation of decisions of the board of the Agency;

3) issues orders and instructions on the activities of the Agency;

4) distributes responsibilities among his deputies;

5) appoints and dismisses employees of the Agency;

6) makes decisions on other issues within the competence of the Agency, with the exception of issues within the competence of the Board of Directors of the Agency and the Management Board of the Agency.

Article 24. Agency reporting

2. The Agency’s annual report is drawn up annually no later than February 15 of the year following the reporting year, and approved by the Agency’s board of directors before March 15.

3. The Agency’s annual report is sent to the Government of the Russian Federation and the Bank of Russia.

4. The summarized data of the Agency’s annual report and its balance sheet are subject to mandatory publication in the “Bulletin of the Bank of Russia” and “Rossiyskaya Gazeta”.

5. The Agency’s annual report includes:

1) a report on the Agency’s activities for the past reporting period with an analysis of the state of the deposit insurance system and the use of funds from the compulsory deposit insurance fund;

2) the annual balance sheet of the Agency;

3) report on the cash flow of the compulsory deposit insurance fund;

4) a report on profits (losses) received from the placement and (or) investment of temporarily free funds of the Agency;

5) register of banks.

6. The reliability of the Agency’s annual balance sheet, the cash flow statement of the compulsory deposit insurance fund, and the statement of profits (losses) received from the placement and (or) investment of temporarily free funds of the Agency is confirmed by an independent audit organization.

Article 25. Agency audit

1. The Agency’s Board of Directors annually determines an audit firm to audit the Agency’s reporting.

2. The internal audit of the Agency is carried out by the internal audit service, reporting to the Board of Directors of the Agency. The procedure for the formation and activities of the internal audit service is determined by the Agency's board of directors.

3. The Board of Directors of the Agency has the right to make decisions on conducting extraordinary audits and audits of the Agency.

Article 26. Reorganization and liquidation of the Agency

The Agency may be reorganized or liquidated on the basis of a federal law defining the procedure for reorganization or liquidation and use of the Agency's property.

Chapter 4. Organizational foundations of the system

deposit insurance

Article 27. Fundamentals of interaction between the Agency, government bodies and the Bank of Russia

1. Federal government bodies, government bodies of constituent entities of the Russian Federation, local self-government bodies and the Bank of Russia do not have the right to interfere with the activities of the Agency in the implementation of the functions and powers legally assigned to it.

2. The Agency and the Bank of Russia coordinate their activities and inform each other on the implementation of deposit insurance measures.

3. For the purpose of information support for the functioning of the deposit insurance system, the Bank of Russia sends bank reports and other necessary information to the Agency.

4. The Bank of Russia, no later than the business day following the day the relevant decision was made, informs the Agency:

1) on issuing a permit from the Bank of Russia to the bank;

2) on making a decision to conduct an inspection of the bank at the suggestion of the Agency;

3) on the application by the Bank of Russia of liability measures to the bank in the form of imposing a ban (restriction) on attracting deposits from citizens, the appointment of a temporary administration to manage the credit institution, the revocation (cancellation), as well as the replacement of the Bank of Russia license;

4) on the reorganization of the bank;

5) on the introduction of a moratorium on satisfying the claims of the bank’s creditors.

5. The Agency, no later than the working day following the day the relevant decision was made, informs the Bank of Russia:

1) on the inclusion of the bank in the register of banks and on the exclusion of the bank from the specified register;

2) about changes in the rate of insurance premiums.

6. The Agency has the right to contact the Bank of Russia with proposals:

1) on an inspection of the bank by the Bank of Russia. The procedure for the participation of Agency employees in such inspections, their rights and obligations are established by regulations of the Bank of Russia in agreement with the Agency;

2) on the application by the Bank of Russia to the bank of liability measures provided for by federal laws, with the attachment of documents justifying the need to apply these measures.

7. The Bank of Russia shall inform the Agency about the decision made to conduct an inspection of the bank by the Bank of Russia and about the application of liability measures by the Bank of Russia to the bank within 15 days from the date of receipt of the corresponding proposal.

Article 28. Bank registration and deregistration in the deposit insurance system. Bank register

1. The registration of a bank in the deposit insurance system is carried out by the Agency by entering it into the register of banks on the basis of a notification from the Bank of Russia about the issuance of a Bank of Russia permit to the bank.

2. The Agency enters the bank into the register of banks on the day it receives the notification from the Bank of Russia specified in Part 1 of this article.

3. The Agency deregisters the bank from the deposit insurance system by excluding it from the register of banks in the following cases:

1) revocation (cancellation) of the license of the Bank of Russia and completion by the Agency of the procedure for paying compensation for deposits established by this Federal Law;

2) termination of the right to attract deposits of funds from individuals and to open and maintain bank accounts of individuals in connection with the replacement of the license of the Bank of Russia and the bank’s fulfillment of its obligations to depositors. Simultaneously with making such a decision, the bank is obliged to notify all depositors of its withdrawal from the deposit insurance system;

3) termination of the bank’s activities in connection with its reorganization.

4. Information on the inclusion of a bank in the register of banks and on the exclusion of a bank from this register is subject to publication by the Agency in the "Bulletin of the Bank of Russia" and "Rossiyskaya Gazeta". The procedure for maintaining the register of banks is established by the Agency.

5. The Agency sends information to the bank about its inclusion in the register of banks and about the exclusion of the bank from the specified register, about the procedure for calculating and paying insurance premiums no later than the day following the day the Agency makes the corresponding decision, and also regularly provides the bank with other necessary information about the system deposit insurance.

6. There is no fee for registering or deregistering a bank in the deposit insurance system.

Article 29. Receipt by the Agency of bank reports and other information

1. The composition of bank reports and other information sent by the Bank of Russia to the Agency, as well as the deadline for submission, are determined by the Bank of Russia in agreement with the Agency.

2. Regarding the participation of banks in the deposit insurance system, the Agency has the right, on the basis of a reasoned request in writing, to receive from banks clarifications regarding information on the payment of insurance premiums by banks, on the maintenance of records and the formation of a register of the bank’s obligations to depositors, on the depositor’s obligations to the bank, execution the bank has other obligations provided for by this Federal Law. These clarifications are sent by banks to the Agency within 15 days from the date of receipt of the relevant request, unless the Agency determines a different period for sending them.

Article 30. The procedure for interaction between the Agency and the bank in respect of which an insured event occurred

1. The bank in respect of which an insured event occurred, within seven days from the date of occurrence of this insured event, submits to the Agency a register of the bank’s obligations to depositors, confirming the attraction of funds into deposits subject to insurance in accordance with this Federal Law.

2. If the bank satisfies (partially satisfies) the depositor’s claim, including during bankruptcy proceedings, the bank (bankruptcy trustee) is obliged to send the relevant information and documents to the Agency on the same day.

3. The Agency has the right to request and receive from the bank in respect of which the insured event occurred, additional information, including copies of documents, if the information provided by the said bank in accordance with parts 1 and 2 of this article is not enough to carry out measures to pay compensation for deposits. The bank in respect of which an insured event occurred is obliged to provide the Agency with the required information within three working days from the date of receipt of the Agency’s corresponding request.

4. The Agency weekly reports to the bank in respect of which the insured event occurred information about the depositors of this bank who received compensation for deposits, the amounts paid by the Agency, as well as about deposits for which compensation for deposits was carried out.

Article 31. Official, commercial and banking secrets

1. The Agency has the right to receive information constituting official, commercial and banking secrets of the bank in respect of which an insured event occurred, necessary for it to carry out the functions established by this Federal Law.

2. The Agency is obliged to provide information that has become known to it about the operations of the bank in respect of which the insured event occurred, on accounts and deposits, about its financial condition, as well as other information that is a commercial and banking secret of the specified bank, at the request of the court, as well as the Bank Russia.

3. In the event of disclosure by the Agency or its officials of information constituting official, commercial or bank secrets, the Agency is obliged, in accordance with the legislation of the Russian Federation, to compensate for the losses caused to the person whose rights were violated.

Article 32. Participation of Agency employees in bank inspections

The Bank of Russia invites Agency employees to participate in inspections of banks on issues related to the volume and structure of the obligations of these banks to depositors, payment of insurance premiums, as well as the performance by banks of other obligations established by this Federal Law.

Chapter 5. Financial foundations of the system

deposit insurance

Article 33. Mandatory Deposit Insurance Fund

1. The compulsory deposit insurance fund is a collection of funds and other property that are formed and used in accordance with this Federal Law.

2. The Mandatory Deposit Insurance Fund is owned by the Agency and is intended to finance the payment of compensation for deposits in the manner and under the conditions established by this Federal Law.

3. The compulsory deposit insurance fund is separated from other property of the Agency. Separate accounting is maintained for the compulsory deposit insurance fund.

4. The funds of the compulsory deposit insurance fund are accounted for in a specially opened account of the Agency with the Bank of Russia. The Bank of Russia does not pay interest on cash balances in this account.

5. The compulsory deposit insurance fund cannot be levied against the obligations of the Russian Federation, constituent entities of the Russian Federation, municipalities, banks, other third parties, as well as the Agency, except for cases where the Agency’s obligations arose in connection with its failure to fulfill its obligations to pay refunds on deposits. Collection from the compulsory deposit insurance fund for the Agency's obligations arising in connection with the Agency's failure to fulfill its obligations to pay compensation for deposits is carried out only on the basis of a judicial act.

Article 34. Sources of formation of the compulsory deposit insurance fund

The compulsory deposit insurance fund is formed through:

1) insurance premiums paid in accordance with this Federal Law;

2) penalties for late and (or) incomplete payment of insurance premiums;

3) funds and other property that are received from the satisfaction of the Agency’s claims acquired as a result of payment to them of compensation for deposits;

4) federal budget funds in cases provided for by this Federal Law;

5) income from the placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund;

6) initial property contribution in accordance with Article 50 of this Federal Law;

7) other income not prohibited by the legislation of the Russian Federation.

Article 35. Insurance premiums

1. Insurance premiums are the same for all banks and are payable by the bank from the day the bank is included in the register of banks until the day of revocation (cancellation) of the license of the Bank of Russia or until the day the bank is excluded from the register of banks in accordance with paragraphs 2 and 3 of part 3 of Article 28 of this Federal law.

2. The first settlement period for the payment of insurance premiums is the period from the day the bank is entered into the register of banks until the day of the end of the calendar quarter, inclusive, in which the bank was entered into the register of banks.

3. The introduction by the Bank of Russia of a moratorium on satisfying the claims of bank creditors suspends the bank’s obligation to pay insurance premiums for the duration of the said moratorium. In this case, the bank is obliged to pay insurance premiums for the billing period during which the specified moratorium was introduced, inclusive of the day preceding the introduction of this moratorium.

Article 36. Procedure for calculating and paying insurance premiums

1. The calculation period for payment of insurance premiums is the calendar quarter of the year.

2. The calculation base for calculating insurance premiums (hereinafter referred to as the calculation base) is defined as the chronological average for the calculation period of daily balances on deposit accounts, with the exception of funds in deposits that are not subject to insurance in accordance with this Federal Law.

3. For deposits in foreign currency, daily balance sheets are determined in the currency of the Russian Federation at the official rate set by the Bank of Russia daily.

4. The rate of insurance premiums cannot exceed 0.15 percent of the calculation base for the last billing period.

5. In cases provided for by this Federal Law, the insurance premium rate may be increased to 0.3 percent of the calculation base, but not more than for two calculation periods within 18 months.

6. The rate of insurance premiums cannot exceed 0.05 percent of the calculation base from the calculation period following the calculation period in which the amount of money from the compulsory deposit insurance fund, including money invested by the Agency in the manner established by this Federal Law, exceeds 5 percent the total amount of deposits in banks.

7. The rate of insurance premiums is established by the Board of Directors of the Agency. If the insurance premium rate changes, the new insurance premium rate is introduced no earlier than 45 days after the relevant decision is made.

8. The decision to establish the rate of insurance premiums is published in the "Bulletin of the Bank of Russia" and "Rossiyskaya Gazeta" no later than five days from the date of its adoption.

9. The procedure for calculating the calculation base is established by the Agency. If this procedure is changed, the new procedure for calculating the calculation base is subject to application from the next billing period. In this case, the new procedure for calculating the settlement base must be brought to the attention of banks no later than 30 days before the start of the new settlement period.

10. Insurance premiums are calculated by banks independently.

11. Payment of insurance premiums is made within five days from the end of the billing period by transferring funds to the Agency’s account with the Bank of Russia, which records the funds of the compulsory deposit insurance fund.

12. The obligation to pay insurance premiums is considered fulfilled by the bank from the moment funds are written off from the bank’s correspondent account with the Bank of Russia.

13. The amount of overpaid insurance premium shall be offset against future payments or refunded in the event of termination of the bank’s obligation to pay insurance premiums in accordance with Article 35 of this Federal Law.

14. Payment of insurance premiums is carried out in the currency of the Russian Federation.

15. Payment of insurance premiums is automatically suspended by banks from the billing period following the billing period in which the amount of funds from the compulsory deposit insurance fund, including funds invested by the Agency in the manner established by this Federal Law, exceeds 10 percent of the total amount of deposits in banks.

16. Payment of insurance premiums is automatically resumed by banks from the billing period following the billing period in which the amount of funds from the compulsory deposit insurance fund, including funds invested by the Agency in the manner established by this Federal Law, is less than 10 percent of the total amount of deposits in banks .

Article 37. Ensuring the fulfillment of the obligation to pay insurance premiums

1. For late or incomplete payment of insurance premiums, banks that committed this violation shall pay penalties.

2. Penalties are recognized as the amount of money established by this article, which the bank must pay in addition to insurance premiums if the latter are paid later than the deadlines established by this Federal Law.

3. The Agency has the right to demand that banks transfer unpaid insurance premiums and accrued penalties and inform the Bank of Russia about the fact of non-payment.

4. Penalties are accrued for each calendar day of delay, starting from the day following the established day for payment of insurance premiums.

5. Penalties for each calendar day of delay are established as a percentage of the timely unpaid amount of insurance premiums. The interest rate of penalties for one calendar day of delay corresponds to the refinancing rate of the Bank of Russia in force during the corresponding period, divided by 360 calendar days.

6. Collection of monetary amounts of unfulfilled obligations of banks to pay insurance premiums, as well as penalties, is carried out by the Agency in court. The specified amounts of money are subject to crediting to the account of the Agency for accounting of funds of the compulsory deposit insurance fund.

Article 38. Placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund

1. The placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund is carried out for the purpose of developing the deposit insurance system on the principles of repayment, profitability and liquidity of financial instruments purchased by the Agency.

2. The directions, procedure and conditions for placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund, as well as the maximum amount of placed and (or) invested temporarily free funds are determined annually by the Board of Directors of the Agency.

3. Temporarily available funds from the compulsory deposit insurance fund may be placed and (or) invested:

1) in government securities of the Russian Federation;

2) in government securities of constituent entities of the Russian Federation;

3) into bonds of Russian issuers, with the exception of those specified in paragraphs 1 and 2 of this part;

4) in shares of Russian issuers created in the form of open joint-stock companies;

5) in units (shares, shares) of index investment funds that place funds in government securities of foreign states, bonds and shares of other foreign issuers;

6) in mortgage securities issued in accordance with the legislation of the Russian Federation on mortgage securities;

7) in securities of states that are members of the Organization for Economic Cooperation and Development;

8) in deposits and securities of the Bank of Russia.

4. It is not permitted to place temporarily free funds from the compulsory deposit insurance fund in other investment objects not expressly provided for by this Federal Law.

5. Temporarily available funds of the compulsory deposit insurance fund cannot be used to purchase securities of issuers in respect of which pre-trial rehabilitation measures are being taken, or bankruptcy proceedings have been initiated (supervision, temporary (external) management, bankruptcy proceedings) in accordance with the legislation of the Russian Federation bankruptcy, or such procedures were applied during the previous two years.

6. Placement of temporarily free funds of the compulsory deposit insurance fund in securities is permitted only:

1) if they are traded on the securities market or specially issued by the Government of the Russian Federation to place funds of institutional investors - for the securities specified in paragraph 1 of part 3 of this article;

2) if they are traded on the organized securities market and meet the criteria established by the authorized federal executive body in agreement with the Federal Securities Market Commission - for the securities specified in paragraphs 2-4 and 6 of part 3 of this article.

7. The use of forward transactions (purchase of options on securities, conclusion of futures and forward contracts) is permitted solely for the purpose of insurance (hedging) of risks in the manner prescribed by the legislation of the Russian Federation.

8. Financial instruments purchased from the funds of the compulsory deposit insurance fund are its integral part and are reflected on the balance sheet on which this fund is accounted for.

The funds of the compulsory deposit insurance fund are directed by the Agency to finance compensation payments for deposits, as well as expenses associated with the implementation of functions for compulsory deposit insurance, and other purposes in accordance with this Federal Law.

Article 40. Financing of Agency expenses

1. The Agency’s expenses for carrying out activities related to compulsory deposit insurance activities are carried out at the expense of the Agency’s property.

2. In case of insufficiency of the specified property, financing of activities related to compulsory deposit insurance activities may be carried out at the proposal of the Agency’s board of directors from the reserve fund of the Government of the Russian Federation.

Article 41. Ensuring the financial stability of the deposit insurance system

1. The financial stability of the deposit insurance system is ensured by the Agency’s property and federal budget funds in the manner and under the conditions established by this Federal Law and the budget legislation of the Russian Federation.

2. To ensure the financial stability of the deposit insurance system, the federal law on the federal budget for the corresponding year establishes the right of the Government of the Russian Federation to issue interest-free budget loans and borrow, the maximum volume of these borrowings, as well as the maximum volume of corresponding federal budget expenditures.

3. If the Board of Directors of the Agency confirms the decision of the Board of Directors of the Agency on the impossibility of making reimbursement of deposits within the time limits established by this Federal Law without replenishing the compulsory deposit insurance fund from additional funds (except for insurance premiums and other planned revenues), the Board of Directors of the Agency within the time limit, not exceeding seven calendar days after the occurrence of the insured event, makes one of the following decisions:

1) apply to the Government of the Russian Federation with a request to allocate the appropriate funds to the Agency in the form of an interest-free budget loan, if the deficit of the compulsory deposit insurance fund calculated by the Agency’s board is no more than 1 billion rubles. The Government of the Russian Federation makes a corresponding decision within a period not exceeding seven calendar days;

2) apply to the Government of the Russian Federation with a request to allocate additional funds to the Agency from the federal budget if the deficit of the compulsory deposit insurance fund calculated by the Agency’s board exceeds 1 billion rubles. If it is impossible to allocate these funds, the Government of the Russian Federation, within the framework of its powers, submits to the State Duma of the Federal Assembly of the Russian Federation a draft federal law on introducing appropriate amendments to the federal law on the federal budget for the corresponding year within a period not exceeding seven calendar days from the date of receipt of the application of the board of directors Agencies.

4. In order to restore the compulsory deposit insurance fund, the Agency’s board of directors may establish an increased rate of insurance premiums in accordance with this Federal Law.

Article 42. Control over the functioning of the deposit insurance system

1. Control over the functioning of the deposit insurance system is carried out by the Government of the Russian Federation and the Bank of Russia through the participation of their representatives in the management bodies of the Agency.

2. The Agency’s Board of Directors annually, on a competitive basis, determines an audit organization to conduct an audit of the Agency’s use of the compulsory deposit insurance fund.

3. Control over the expenditure of federal budget funds allocated to the compulsory deposit insurance fund is carried out in the manner prescribed for the use of federal budget funds.

Chapter 6. Final and transitional provisions

Article 43. Features of registration in the deposit insurance system of banks that have permission from the Bank of Russia on the day this Federal Law comes into force

1. A bank that has a permit from the Bank of Russia on the day this Federal Law comes into force is registered in the deposit insurance system by entering it into the register of banks by the Agency on the basis of a notification from the Bank of Russia that it has issued a positive conclusion on the bank’s compliance with the requirements established by Article 44 of this Federal Law (hereinafter referred to as requirements for participation in the deposit insurance system).

2. The Agency enters the bank into the register of banks no later than the next business day from the date of receipt of the notification from the Bank of Russia specified in Part 1 of this article.

3. Deposits in a bank that has a permit from the Bank of Russia on the day this Federal Law comes into force are subject to insurance in the manner established by this Federal Law from the day it is registered in the deposit insurance system.

Article 44. Requirements for participation in the deposit insurance system of banks that have permission from the Bank of Russia on the day this Federal Law comes into force

1. A bank that has a permit from the Bank of Russia on the day this Federal Law comes into force is recognized as meeting the requirements for participation in the deposit insurance system if it simultaneously meets the following conditions:

1) if the bank’s accounting and reporting are recognized by the Bank of Russia as reliable;

2) if the bank complies with the mandatory standards established by the Bank of Russia;

3) if the financial stability of the bank is recognized by the Bank of Russia as sufficient;

4) if the measures provided for in Article 74 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, Article 20 of the Federal Law “On Banks and Banking Activities”, Article 3 of the Federal Law of February 25, 1999 N 40-FZ “On Insolvency” (bankruptcy) of credit organizations" do not apply to the bank, and there are no grounds for their application based on the results of a thematic inspection conducted in accordance with Part 4 of Article 45 of this Federal Law.

2. Bank accounting and reporting are recognized by the Bank of Russia as reliable if at the same time:

1) the bank’s accounting and reporting comply with federal laws, norms and rules established by the Bank of Russia, and the bank’s own accounting policies;

2) possible shortcomings or errors in the state of the bank’s accounting or reporting do not significantly affect the assessment of its financial stability.

3. The financial stability of the bank is assessed by the Bank of Russia according to the groups of indicators specified in Part 4 of this article, with the determination for each of them of a general result of “satisfactory” or “unsatisfactory” and is recognized by the Bank of Russia as sufficient if there is a result “satisfactory” for all groups of indicators.

4. To assess the financial stability of the bank, the following groups of indicators are used:

1) a group of indicators for assessing capital, including indicators for assessing the adequacy and quality of capital;

2) a group of asset assessment indicators, including indicators of the quality of debt on loans and other assets, the amount of reserves for losses on loans and other assets, the degree of concentration of risks on assets, including the amount of credit risks for shareholders (participants) and insiders;

3) a group of indicators for assessing the quality of management of the bank, its operations and risks, including indicators of the transparency of the ownership structure, the organization of the risk management system, including control over the value of the currency position, the internal control service, including the system for combating money laundering and the financing of terrorism;

4) a group of indicators for assessing profitability, including indicators of return on assets and capital, the structure of income and expenses, the profitability of certain types of operations and the bank as a whole;

5) a group of indicators for assessing liquidity, including indicators of liquidity of assets, liquidity and structure of liabilities, overall liquidity of the bank, risk to large creditors and depositors.

5. The composition of the indicators specified in this article, the methods for calculating them and determining the general result for them are established by regulations of the Bank of Russia and are published by the Bank of Russia in the Bulletin of the Bank of Russia no later than a month from the date of entry into force of this Federal Law.

Article 45. The procedure for the Bank of Russia to issue an opinion on the compliance of banks that have a permit from the Bank of Russia on the date of entry into force of this Federal Law with the requirements for participation in the deposit insurance system

1. A bank that has permission from the Bank of Russia on the date of entry into force of this Federal Law, and has made a decision to participate in the deposit insurance system, has the right, within a period not exceeding six months from the date of entry into force of this Federal Law, to submit to the Bank of Russia a petition for The Bank of Russia’s conclusion on the bank’s compliance with the requirements for participation in the deposit insurance system (hereinafter also referred to as the conclusion).

2. The Bank of Russia issues an opinion within a period not exceeding nine months from the date the Bank of Russia receives the bank’s petition for the Bank of Russia to issue an opinion (hereinafter also referred to as the petition).

3. The Bank of Russia’s consideration of banks’ applications and the issuance of opinions on them must be completed within a period not exceeding 15 months from the date of entry into force of this Federal Law.

4. Consideration of the application by the Bank of Russia consists of the following stages:

1) preliminary analysis of the bank’s compliance with the requirements for participation in the deposit insurance system;

2) a thematic inspection to assess the reliability of accounting and reporting, as well as to establish facts that are related to determining the bank’s compliance with the requirements for participation in the deposit insurance system and that cannot be obtained by remote supervision methods;

3) final analysis of the results, including calculation of the values ​​of all criteria;

4) making a positive or negative conclusion.

5. Thematic inspections carried out in accordance with this Federal Law are not subject to parts five and six of Article 73 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”.

6. If the Bank of Russia issues a negative opinion, the bank has the right, after eliminating the identified inconsistencies, to submit a repeated application to the Bank of Russia, except in cases where there are grounds for revoking the bank’s Bank of Russia license in accordance with the legislation of the Russian Federation.

7. A repeated application is submitted by the bank within a period not exceeding 16 months from the date of entry into force of this Federal Law.

8. The Bank of Russia’s consideration of a repeated application and the issuance of an opinion on it must be completed within a period not exceeding 21 months from the date of entry into force of this Federal Law.

9. The bank is not allowed to submit an application to the Bank of Russia more than twice.

10. The Banking Supervision Committee of the Bank of Russia issues an opinion.

11. The Bank of Russia sends the decision to the bank to issue a positive or negative opinion no later than the next business day after the day it was issued.

12. The bank, within a month from the date the Bank of Russia issues a negative conclusion based on the results of consideration of the repeated application, has the right to appeal this conclusion to the Banking Supervision Committee of the Bank of Russia, and if it confirms the negative conclusion, appeal again to the Chairman of the Bank of Russia within a month after such confirmation.

13. The Banking Supervision Committee of the Bank of Russia and the Chairman of the Bank of Russia consider the bank’s application to appeal the negative opinion within a month.

14. The procedure for consideration by the Bank of Russia of a petition and application to appeal a negative opinion is established by regulations of the Bank of Russia and is published by the Bank of Russia in the Bulletin of the Bank of Russia no later than a month after this Federal Law comes into force.

15. The Bank of Russia sends a notification to the Agency about the adoption of a positive opinion no later than the next business day after the day it was issued.

Article 46. Consequences of refusal of a bank that has permission from the Bank of Russia on the date of entry into force of this Federal Law to participate in the deposit insurance system

1. For the purposes of this Federal Law, a bank’s refusal to participate in the deposit insurance system is recognized as:

1) failure by the bank to submit an application to the Bank of Russia within six months from the date of entry into force of this Federal Law;

2) the bank sends an application to the Bank of Russia to refuse to attract funds from individuals on deposit, to open and maintain bank accounts for individuals.

2. The Bank of Russia in relation to banks that refused, in accordance with Part 1 of this article, to participate in the deposit insurance system:

1) after 21 months from the date of entry into force of this Federal Law, he is obliged to introduce a ban on attracting deposits of funds from individuals and opening bank accounts for individuals, which is valid until the day the bank’s right to work with deposits is terminated in the manner established by this Federal Law and the regulatory acts of the Bank of Russia adopted in accordance with it, or until the day the bank’s license of the Bank of Russia is revoked;

2) from the moment when the bank is recognized as having refused to participate in the deposit insurance system, but no later than 21 months from the date of entry into force of this Federal Law, sends a request for the bank to submit a petition to terminate the right to work with deposits.

3. Banks to which, in accordance with Part 2 of this article, the specified requirement of the Bank of Russia was sent, are obliged to send to the Bank of Russia within a month, in the manner established by the regulations of the Bank of Russia, a petition for termination of the right to work with deposits.

4. Banks that have sent a petition to the Bank of Russia to terminate the right to work with deposits, from the date of sending this petition, do not have the right to attract funds from individuals into deposits, as well as to credit additional funds to the accounts of deposits of individuals with whom the agreement was concluded bank deposit agreement or bank account agreement, before sending such a request. Information about this must be posted in the premises of the bank accessible to clients, in which depositor services are provided, on the day the specified application is sent to the Bank of Russia.

5. A bank deposit agreement or a bank account agreement with individuals, concluded by the bank before the day of the introduction of the ban of the Bank of Russia on attracting funds from individuals on deposits and opening bank accounts for individuals, is not subject to termination, except in the case of an application by the owner of the deposit (account) with request for termination of the relevant contract. Additional funds, with the exception of interest accrued in accordance with the terms of the bank deposit agreement or bank account agreement, are not credited to the deposit (account) and are subject to return to the persons who gave instructions to credit funds to the deposit (account).

6. On the day the Bank of Russia introduced, in accordance with Part 2 of this article, a ban on attracting funds from individuals on deposits and opening bank accounts for individuals, they are required to post information about the termination of the right to attract funds from individuals on deposits and (or) accounts, on the termination of the right to conclude new bank deposit agreements or bank account agreements with individuals, as well as information on the prohibition of crediting additional funds to deposits and (or) accounts opened with the bank before the day the ban was introduced by the Bank of Russia, in bank premises accessible to clients , in which depositor services are provided.

7. If the bank fails to fulfill the obligations established by parts 3-6 of this article, the Bank of Russia applies to it the penalties provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the Federal Law “On Banks and Banking Activities” and other federal laws laws.

Article 47. Consequences of the Bank of Russia issuing a negative opinion

1. For the purposes of this Federal Law, a bank that has a permit from the Bank of Russia on the day this Federal Law comes into force is recognized as not meeting the requirements for participation in the deposit insurance system in the event of:

1) failure to submit a repeated application to the Bank of Russia in the manner established by parts 6-8 of Article 45 of this Federal Law;

2) the Bank of Russia issues a negative opinion based on the results of the Bank of Russia’s consideration of the bank’s repeated application and applications to appeal the negative opinion.

2. The Bank of Russia, within a month after issuing a negative conclusion based on the results of consideration of a repeated petition, or within a month after the expiration of the period for the bank to send a repeated petition, or within a month after making a decision on the unchanged negative conclusion based on the results of consideration of applications to appeal the negative conclusion, but no later than 21 months from the date of entry into force of this Federal Law is obliged to:

3. A bank recognized by the Bank of Russia as not meeting the requirements for participation in the deposit insurance system in accordance with Part 1 of this article is obliged, within a month from the date the Bank of Russia introduced a ban on attracting deposits of individuals’ funds and opening bank accounts for individuals based on the results repeated inspection carried out by him or after the expiration of the period for the bank to send a repeated petition, send to the Bank of Russia in accordance with the procedure established by the regulations of the Bank of Russia, a petition for termination of the right to work with deposits.

4. A bank deposit agreement or a bank account agreement with individuals, concluded by the bank before the date of the introduction of the specified ban by the Bank of Russia, is not subject to termination, except in the case of an application by the owner of the deposit (account) with a request to terminate the corresponding agreement. Additional funds that have been deposited into the deposit (account) since the date the Bank of Russia introduced this prohibition, with the exception of interest accrued in accordance with the terms of the bank deposit agreement or bank account agreement, are not credited and must be returned to the persons who gave instructions to credit the funds. funds to deposit (account).

5. Banks in respect of which, in accordance with Part 2 of this article, a ban has been introduced by the Bank of Russia on attracting deposits of funds from individuals and opening bank accounts for individuals, are obliged no later than the working day following the day of introduction of this ban, to post information about the termination the right to attract funds from individuals into deposits and (or) accounts, about the termination of the right to conclude new bank deposit agreements or bank account agreements with individuals, as well as information about the prohibition of crediting additional funds to deposits and (or) accounts, opened at the bank until the day of receipt of the specified order, in the premises of the bank accessible to clients in which depositor services are provided.

6. If the bank fails to fulfill the obligations established by parts 3 - 5 of this article, the Bank of Russia applies to it the penalties provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the Federal Law “On Banks and Banking Activities” and other federal laws. laws.

Article 48. Consequences of non-compliance of banks that are included in the register of banks with the requirements for participation in the deposit insurance system

1. Banks that are included in the register of banks are required to meet the requirements for participation in the deposit insurance system.

2. The Bank of Russia, in accordance with the legislation of the Russian Federation, exercises supervision over the compliance of banks with the requirements specified in Part 1 of this article.

3. If a bank does not meet the requirements for participation in the deposit insurance system for three consecutive months, the Bank of Russia is obliged to:

1) send a request for the specified bank to submit a petition to terminate the right to work with deposits;

2) introduce a ban on attracting deposits of funds from individuals and opening bank accounts of individuals, which is valid until the day the bank’s right to work with deposits is terminated in the manner established by this Federal Law and the regulations of the Bank of Russia adopted in accordance with it, or until the day of revocation of the Bank of Russia license from the bank.

4. A bank recognized by the Bank of Russia as not meeting the requirements for participation in the deposit insurance system within the period established by part 3 of this article is obliged, within a month from the date the Bank of Russia introduced a ban on attracting deposits of individuals’ funds and opening bank accounts for individuals send to the Bank of Russia, in accordance with the procedure established by the regulations of the Bank of Russia, a petition to terminate the right to work with deposits.

5. A bank deposit agreement or a bank account agreement concluded by a bank with individuals before the date of introduction of the specified ban by the Bank of Russia is not subject to termination, except in the case of an application by the owner of the deposit (account) with a request to terminate the corresponding agreement. Additional funds that have been deposited into the deposit (account) since the date the Bank of Russia introduced this prohibition, with the exception of interest accrued in accordance with the terms of the bank deposit agreement or bank account agreement, are not credited and must be returned to the persons who gave instructions to credit the funds. funds to deposit (account).

6. Banks in respect of which, in accordance with Part 3 of this article, a ban has been introduced by the Bank of Russia on attracting deposits of funds from individuals and opening bank accounts for individuals, are obliged no later than the working day following the day of introduction of this ban, to post information about the termination the right to attract funds from individuals into deposits and (or) accounts, about the termination of the right to conclude new bank deposit agreements or bank account agreements with individuals, as well as information about the prohibition of crediting additional funds to deposits and (or) accounts, opened at the bank until the day of receipt of the specified order, in the premises of the bank accessible to clients in which depositor services are provided.

7. If the bank fails to fulfill the obligations established by parts 4-6 of this article, the Bank of Russia applies to it the penalties provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the Federal Law “On Banks and Banking Activities” and other federal laws. laws.

8. A bank that has refused to participate in the deposit insurance system in accordance with Article 46 of this Federal Law has the right to apply for a permit from the Bank of Russia or to lift the ban on attracting deposits from individuals and opening bank accounts for individuals no earlier than two years from the day of entry into force of this Federal Law.

9. A bank regarding which, in accordance with Article 47 of this Federal Law, a negative conclusion has been issued on compliance with the requirements for participation in the deposit insurance system, or which, in accordance with this article, is recognized as not meeting such requirements, has the right to again apply for the issuance of a permit from the Bank of Russia or the withdrawal a ban on attracting funds from individuals into deposits and opening bank accounts for individuals no earlier than two years from the date of termination of the right to work with deposits.

Article 49. Peculiarities of participation of credit institutions in which the Bank of Russia participates in the capital in the deposit insurance system

1. Return of deposits of individuals in amounts exceeding the amount of compensation for deposits determined by this Federal Law in credit institutions in which the Bank of Russia participates in the capital is ensured by the subsidiary liability of the Russian Federation for the depositor’s claims to the bank in the manner prescribed by Article 399 of the Civil Code Russian Federation, until January 1, 2007.

2. Insurance premiums paid by credit institutions in which the Bank of Russia participates in the capital are accounted for in a separate account with the Bank of Russia, for which the Agency maintains separate records. The specified funds cannot be used to finance the payment of compensation for deposits, with the exception of compensation for deposits in credit institutions that transferred these insurance premiums.

3. Part 2 of this article shall terminate on the 1st day of the quarter following the day of publication of the notice of the Agency’s board of directors, issued on the basis of published official data from the Bank of Russia on the reduction of the share of deposits of individuals in credit institutions in which the Bank of Russia participates in the capital, to a level not exceeding 50 percent of the total volume of deposits of individuals in credit institutions of the Russian Federation, but no later than January 1, 2007.

Article 50. Property contribution of the Russian Federation

1. The property contribution of the Russian Federation to the Agency’s property is carried out by transferring to it the state corporation “Agency for Restructuring of Credit Institutions” 3 billion rubles. Of this amount, 2 billion rubles are allocated to the compulsory deposit insurance fund and 1 billion rubles - to generate sources of Agency expenses for carrying out activities provided for by this Federal Law.

2. The property contribution specified in Part 1 of this article is made in cash and (or) government securities of the Russian Federation with their valuation at market value within six months from the date of entry into force of this Federal Law.

3. Funds received by the state corporation "Agency for the Restructuring of Credit Institutions" upon completion of measures for the restructuring of credit organizations are transferred in accordance with the decisions of its board of directors into the ownership of the Agency as a property contribution of the Russian Federation.

Article 51. Entry into force of this Federal Law

1. This Federal Law comes into force on the date of its official publication.

2. The Government of the Russian Federation and the Bank of Russia, within ten days from the date of entry into force of this Federal Law, determine candidates for their representatives on the Agency’s board of directors.

The president

Russian Federation

(as amended by Federal Laws dated August 20, 2004 No. 106-FZ, dated December 29, 2004 No. 197-FZ)

This Federal Law establishes the legal, financial and organizational basis for the functioning of the system of compulsory insurance of deposits of individuals in banks of the Russian Federation (hereinafter referred to as the deposit insurance system), the competence, procedure for the formation and activities of the organization performing the functions of compulsory deposit insurance (Deposit Insurance Agency, hereinafter also - the Agency), the procedure for paying compensation for deposits, regulates the relations between the banks of the Russian Federation, the Agency, the Central Bank of the Russian Federation (Bank of Russia) and the executive authorities of the Russian Federation in the field of relations on compulsory insurance of deposits of individuals in banks.

Chapter 1. GENERAL PROVISIONS

Article 1. The goals of this Federal Law and the relations regulated by it

1. The goals of this Federal Law are to protect the rights and legitimate interests of depositors of banks of the Russian Federation, strengthen confidence in the banking system of the Russian Federation and stimulate the attraction of savings from the population into the banking system of the Russian Federation.

2. This Federal Law regulates relations regarding the creation and operation of the deposit insurance system, the formation and use of its monetary fund, payment of compensation for deposits upon the occurrence of insured events, as well as relations arising in connection with the implementation of state control over the functioning of the deposit insurance system, and others relations arising in this area.

3. This Federal Law does not apply to other methods of insuring deposits of individuals to ensure their return and payment of interest on them.

4. In accordance with the purposes of this Federal Law, the specifics of the legal status of participants in the deposit insurance system and the determination of the essential conditions of compulsory deposit insurance, an insured event, payment of insurance premiums and receipt of insurance compensation for compulsory deposit insurance are established.

5. Relations arising in connection with the creation and operation of the deposit insurance system are regulated by this Federal Law, other federal laws, and in cases provided for by this Federal Law, by regulatory legal acts of the Government of the Russian Federation and regulatory acts of the Bank of Russia adopted in accordance with it. .

Article 2. Basic concepts used in this Federal Law

This Federal Law uses the following basic concepts:

1) bank - a credit organization that has permission from the Bank of Russia to attract funds from individuals on deposit and to open and maintain bank accounts for individuals, issued by the Bank of Russia to banks in the manner established by the Federal Law “On Banks and Banking Activities” (as amended by the Federal Law Law of February 3, 1996 N 17-FZ) (hereinafter referred to as the Federal Law “On Banks and Banking Activities”);

2) deposit - funds in the currency of the Russian Federation or foreign currency placed by individuals in a bank on the territory of the Russian Federation on the basis of a bank deposit agreement or a bank account agreement, including capitalized (accrued) interest on the deposit amount;

3) register of banks - a list of banks formed in accordance with this Federal Law that are registered in the deposit insurance system;

4) depositor - a citizen of the Russian Federation, a foreign citizen or a stateless person who has entered into a bank deposit agreement or a bank account agreement with the bank, or any of the specified persons in whose favor the deposit was made;

6) permission from the Bank of Russia - a license issued by the Bank of Russia for the bank to attract funds from individuals as deposits and to open and maintain bank accounts for individuals in the manner established by the Federal Law “On Banks and Banking Activities”;

7) deficit of the compulsory deposit insurance fund - insufficiency of the compulsory deposit insurance fund to pay compensation for deposits within the time limits established by this Federal Law.

Article 3. Basic principles of the deposit insurance system

The main principles of the deposit insurance system are:

1) mandatory participation of banks in the deposit insurance system;

2) reducing the risk of adverse consequences for depositors in the event of banks’ failure to fulfill their obligations;

3) transparency of the deposit insurance system;

4) the cumulative nature of the formation of a compulsory deposit insurance fund at the expense of regular insurance contributions from banks participating in the deposit insurance system.

Article 4. Participants in the deposit insurance system

Participants in the deposit insurance system are:

1) investors recognized as beneficiaries for the purposes of this Federal Law;

2) banks included in the established procedure in the register of banks, recognized for the purposes of this Federal Law as insurers;

3) An agency recognized for the purposes of this Federal Law as an insurer;

4) the Bank of Russia when it exercises functions arising from this Federal Law.

Article 5. Deposits, insurance of which is carried out in accordance with this Federal Law

1. In accordance with this Federal Law, deposits are subject to insurance in the manner, amounts and conditions established by Chapter 2 of this Federal Law, with the exception of funds specified in Part 2 of this article.

2. In accordance with this Federal Law, the following funds are not subject to insurance:

1) placed on bank accounts of individuals engaged in entrepreneurial activities without forming a legal entity, if these accounts are opened in connection with the specified activity;

2) placed by individuals in bearer bank deposits, including those certified by a savings certificate and (or) bearer savings book;

3) transferred by individuals to banks for trust management;

4) placed on deposit in branches of banks of the Russian Federation located outside the territory of the Russian Federation.

3. Deposit insurance is carried out by virtue of this Federal Law and does not require the conclusion of an insurance agreement.

Article 6. Participation of banks in the deposit insurance system

1. Participation in the deposit insurance system in accordance with this Federal Law is mandatory for all banks.

2. The bank is considered a participant in the deposit insurance system from the day it is registered until the day it is deregistered from the deposit insurance system in accordance with Article 28 of this Federal Law.

3. Banks are obliged:

1) pay insurance premiums to the compulsory deposit insurance fund (hereinafter referred to as insurance premiums);

2) provide depositors with information about their participation in the deposit insurance system, the procedure and amount of receiving compensation for deposits;

3) post information about the deposit insurance system in bank premises accessible to depositors where depositor services are provided;

4) keep records of the bank’s obligations to depositors, allowing the bank to create on any day a register of the bank’s obligations to depositors in the form established by the Bank of Russia at the proposal of the Agency;

5) perform other duties provided for by this Federal Law.

Chapter 2. PROCEDURE AND CONDITIONS FOR PAYMENT OF COMPENSATION FOR DEPOSITS

Article 7. Rights of depositors

1. Investors have the right:

1) receive compensation for deposits in the manner established by this Federal Law;

2) report to the Agency about facts of delay by the bank in fulfilling obligations on deposits;

3) receive from the bank in which they place the deposit and from the Agency information about the bank’s participation in the deposit insurance system, about the procedure and amount of receiving compensation for deposits.

2. A depositor who has received compensation for deposits placed in a bank in respect of which an insured event occurred retains the right to claim against this bank for an amount determined as the difference between the amount of the depositor’s claims against this bank and the amount of compensation paid to him for deposits in this bank. Satisfaction of such right of claim of the depositor to the bank is carried out in accordance with the civil legislation of the Russian Federation.

Article 8. Insured event

1. For the purposes of this Federal Law, an insured event is one of the following circumstances:

1) revocation (cancellation) of the bank’s license from the Bank of Russia to carry out banking operations (hereinafter referred to as the Bank of Russia license) in accordance with the Federal Law “On Banks and Banking Activities”;

2) the introduction by the Bank of Russia, in accordance with the legislation of the Russian Federation, of a moratorium on satisfying the claims of the bank’s creditors.

2. An insured event is considered to have occurred from the date of entry into force of the act of the Bank of Russia on the revocation (cancellation) of the bank’s license of the Bank of Russia or the act of the Bank of Russia on the introduction of a moratorium on satisfying the claims of the bank’s creditors.

Article 9. Emergence of the depositor’s right to compensation for deposits

1. The depositor’s right to claim compensation for deposits arises from the date of the insured event.

2. A person who acquired the right to claim deposits from a depositor after the occurrence of an insured event does not have the right to compensation for such deposits.

Article 10. Procedure for applying for compensation for deposits

1. The depositor (his representative) has the right to apply to the Agency with a demand for payment of compensation for deposits from the day the insured event occurs until the day the bankruptcy proceedings are completed, and if the Bank of Russia introduces a moratorium on satisfying creditors’ claims - until the day the moratorium ends.

2. If a depositor misses the deadline for filing a claim for compensation for deposits, the deadline specified in Part 1 of this article, upon application of the depositor, may be restored by a decision of the Agency’s board in the presence of one of the following circumstances:

1) if the depositor’s request for payment of compensation for deposits was prevented by an extraordinary and unavoidable circumstance under the given conditions (force majeure);

2) if the depositor served (is undergoing) military service by conscription or was (is) part of the Armed Forces of the Russian Federation (other troops, military formations, bodies) transferred to martial law - for the period of such service (martial law);

3) if the reason for missing the specified period is related to the personality of the depositor (including his serious illness, helpless condition).

3. The decision of the Agency’s board to refuse to restore the missed deadline for filing a claim for payment of compensation for deposits can be appealed by the depositor in court.

4. When contacting the Agency with a request for payment of compensation for deposits, the depositor submits:

1) an application in the form determined by the Agency;

2) documents proving his identity.

5. When applying to the Agency with a request for payment of compensation for deposits, the depositor’s representative, along with the documents specified in paragraphs 1 and 2 of part 4 of this article, also submits a notarized power of attorney.

Article 11. Amount of compensation for deposits

1. The amount of compensation for deposits to each depositor is established based on the amount of deposit obligations of the bank in respect of which the insured event occurred to this depositor. When calculating the amount of the bank's obligations to the depositor, only deposits insured in accordance with Article 5 of this Federal Law are taken into account.

2. Compensation for deposits is paid to the depositor in the amount of 100 percent of the amount of deposits in the bank in respect of which the insured event occurred, but not more than 100,000 rubles.

3. If a depositor has several deposits in one bank, the total amount of liabilities of which on these deposits to the depositor exceeds 100,000 rubles, compensation is paid for each of the deposits in proportion to their size.

4. If an insured event occurs in relation to several banks in which the depositor has deposits, the amount of insurance compensation is calculated for each bank separately.

5. The amount of compensation for deposits is calculated based on the amount of funds remaining on the depositor’s deposit(s) in the bank at the end of the day the insured event occurs.

6. If the obligation of the bank in respect of which the insured event occurred to the depositor is expressed in foreign currency, the amount of compensation for deposits is calculated in the currency of the Russian Federation at the rate established by the Bank of Russia on the day the insured event occurred.

7. If the bank in respect of which the insured event occurred also acted as a creditor in relation to the depositor, the amount of compensation for deposits is determined based on the difference between the amount of the bank’s obligations to the depositor and the amount of counterclaims of this bank to the depositor that arose before the day the insured event occurred. case.

Article 12. Procedure for payment of compensation for deposits

1. The agency, within seven days from the date of receipt from the bank in respect of which the insured event occurred, sends a register of the bank’s obligations to depositors to this bank, as well as for publication in the “Bulletin of the Bank of Russia” and the printed publication at the location of this bank a message about the location , time, form and procedure for accepting applications from depositors for payment of compensation for deposits. Within a month from the date of receipt from the bank of the register of the bank’s obligations to depositors, the Agency also sends a corresponding message to the depositors of the bank in respect of which the insured event occurred.

2. The depositor has the right to receive the information specified in Part 1 of this article directly from the bank in respect of which the insured event occurred, as well as from the Agency.

3. When a depositor (his representative) submits to the Agency the documents provided for in parts 4 and 5 of Article 10 of this Federal Law, the Agency provides the depositor with an extract from the register of the bank’s obligations to depositors indicating the amount of compensation for his deposits.

4. Payment of compensation for deposits is made by the Agency in accordance with the register of the bank’s obligations to depositors, formed by the bank in respect of which the insured event occurred, within three days from the date the depositor submitted to the Agency the documents provided for in parts 4 and 5 of Article 10 of this Federal Law, but not earlier than 14 days from the date of the insured event.

5. When paying compensation for deposits, the Agency provides the depositor with a certificate of the amounts paid and the deposits for which compensation was made, and sends a copy of it to the bank.

6. If, through the fault of the Agency, the agreed amount of compensation for deposits is not paid within the time limits established by this article, the Agency shall pay the depositor interest on the amount of non-payment, calculated in the amount of the refinancing rate established by the Bank of Russia on the day of the actual payment of compensation for deposits by the Agency.

7. If the depositor disagrees with the amount of compensation for deposits to be paid, the Agency invites the depositor to submit to the Agency additional documents confirming the validity of his claims, and sends them to the bank for consideration. Within 10 days from the date of receipt of these documents, the bank is obliged to send to the Agency a message about the results of consideration of the depositor’s claims and, if necessary, about changes in the register of the bank’s obligations to depositors.

8. After agreeing with the bank and the depositor on the amount of the bank’s obligations, on the basis of additionally submitted documents, the Agency pays the depositor the amount of compensation for deposits in the prescribed manner.

9. If, in the manner prescribed by parts 2 and 3 of Article 10 of this Federal Law, the period for filing a claim for payment of compensation for deposits is restored, the depositor has the right to receive compensation for deposits in an amount corresponding to the amount of the bank’s obligations to him, indicated in the register of bank obligations to investors.

10. In case of disagreement with the amount of compensation to be paid on deposits, the depositor, in accordance with the legislation of the Russian Federation, has the right to apply to the court with a claim to establish the composition and amount of the relevant claims, as well as the compensation to be paid on deposits.

11. Payment of compensation for deposits can be made at the request of the depositor either in cash or by transferring funds to a bank account specified by the depositor.

12. Acceptance from depositors of applications for payment of compensation for deposits and other necessary documents, including those provided for in parts 4 and 5 of Article 10 of this Federal Law and part 7 of this article, as well as payment of compensation for deposits can be carried out by the Agency through agent banks operating on his behalf and at his expense. The procedure for interaction of agent banks with the Agency, including standards for compensation of costs of agent banks, is established by the Board of Directors of the Agency. The procedure for the competitive selection of agent banks is established by the Agency's board of directors in agreement with the federal antimonopoly authority.

13. Payment of compensation for deposits is made in the currency of the Russian Federation.

Article 13. Transfer of the depositor’s right of claim after payment of compensation for deposits

1. The Agency, which paid compensation for deposits, shall, within the limits of the paid amount, receive the right of claim that the depositor had against the bank in respect of which the insured event occurred.

2. During bankruptcy proceedings in a bank in respect of which an insured event occurred, the claims transferred to the Agency as a result of its payment of compensation for deposits are satisfied in the first place of creditors.

3. In cases of bank bankruptcy, the rights of claim against the bank transferred to the Agency as a result of its payment of compensation for deposits are represented by the federal executive body authorized by the Government of the Russian Federation (hereinafter referred to as the authorized body).

4. After the Agency has paid compensation for deposits, the authorized body takes measures to collect from the bank the amounts of debt to the Agency, to which it has received the right in accordance with parts 1 and 2 of this article, in the manner established by the legislation of the Russian Federation. The amount of collected debt is subject to credit to the compulsory deposit insurance fund.

5. Upon expiration of the moratorium on satisfying the claims of bank creditors established by the Bank of Russia, the Agency has the right to provide the bank whose depositors received compensation for their deposits with a deferment or installment payment plan.

6. Deferment of debt repayment can be granted for a period of up to six months with a lump sum payment of the debt.

7. Installment payment of debt can be provided for a period of up to a year with stage-by-stage payment of the debt amount.

8. Interest is accrued on the debt amount based on a rate equal to one-half of the Bank of Russia refinancing rate that was in effect during the period of deferment or installment payment of the debt.

Chapter 3. STATUS, PURPOSE AND POWERS
DEPOSIT INSURANCE AGENCIES

Article 14. Deposit Insurance Agency

1. In order to carry out the functions of compulsory deposit insurance, the Deposit Insurance Agency is created.

2. The Agency is a state corporation created by the Russian Federation, the status, purpose of activity, functions and powers of which are determined by this Federal Law and the Federal Law of January 12, 1996 No. 7-FZ “On Non-Profit Organizations”.

3. The Agency has a seal with the image of the State Emblem of the Russian Federation and with its name.

4. The agency has an account with the Bank of Russia.

5. The location of the central bodies of the Agency is the city of Moscow.

Article 15. Purpose of activity and powers of the Agency

1. The purpose of the Agency’s activities in accordance with this Federal Law is to ensure the functioning of the deposit insurance system.

2. When performing the functions of compulsory deposit insurance, the Agency:

1) organizes accounting of banks (maintains a register of banks);

2) collects insurance premiums and controls their receipt into the compulsory deposit insurance fund;

3) takes measures to take into account the claims of depositors to the bank and pay them compensation for deposits;

4) has the right to apply to the Bank of Russia with a proposal to apply to banks for violation of the requirements of this Federal Law the penalties provided for in Article 74 of the Federal Law of July 10, 2002 N 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)” (hereinafter - Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”) and regulations of the Bank of Russia;

5) places and (or) invests temporarily available funds from the compulsory deposit insurance fund in the manner prescribed by this Federal Law;

6) has the right to require banks to post information about the deposit insurance system and the bank’s participation in it in bank premises accessible to depositors in which depositor services are provided;

7) determines the procedure for calculating insurance premiums in accordance with Article 36 of this Federal Law;

8) exercises other powers aimed at achieving the goals set for the Agency in accordance with this Federal Law.

3. The Agency’s implementation of functions for compulsory deposit insurance on the basis of this Federal Law does not require obtaining a license to carry out insurance activities.

Article 16. Property of the Agency

1. The Agency’s property is formed from property contributions in accordance with Article 50 of this Federal Law, insurance premiums, as well as from income received by the Agency from the placement of funds, funds from the issue of issue-grade securities and other legal proceeds.

2. The Agency is not liable for the obligations of the Russian Federation. The Russian Federation is not liable for the Agency's obligations, unless otherwise provided by federal law.

3. The Agency uses its property to perform the functions provided for by this Federal Law.

Article 17. Management bodies of the Agency

The governing bodies of the Agency are the Board of Directors of the Agency, the Management Board of the Agency and the General Director of the Agency.

Article 18. Board of Directors of the Agency

1. The highest governing body of the Agency is the Board of Directors of the Agency. The Agency's board of directors includes 13 members - seven representatives of the Government of the Russian Federation, five representatives of the Bank of Russia and the Agency's general director. The Director General of the Agency is an ex officio member of the Board of Directors of the Agency.

2. The Chairman of the Board of Directors of the Agency is elected by the Board of Directors of the Agency on the recommendation of the Government of the Russian Federation.

3. Meetings of the Agency’s board of directors are convened by its chairman or at least one third of the members of the Agency’s board of directors as necessary, but at least once a quarter.

4. The Agency’s Board of Directors is authorized to make decisions if at least half of its members are present at the meeting. Decisions of the Agency's board of directors are made by a simple majority of votes from those present. If the number of votes is equal, the vote of the person presiding at the meeting of the Agency's board of directors is decisive.

5. A meeting of the Agency’s board of directors is held by the chairman of the Agency’s board of directors, and in his absence by a person authorized by the chairman of the Agency’s board of directors.

6. The minutes of the meeting of the Agency’s board of directors are signed by the chairman of the meeting of the Agency’s board of directors. The opinion of the members of the Agency's board of directors who remained in the minority during the voting is entered into the minutes at their request.

Article 19. Powers of the Agency’s board of directors

When performing the functions of compulsory deposit insurance, the Agency’s board of directors:

1) approves the proposals of the Agency’s board on the projected amount of expenses from the federal budget to cover the deficit of the compulsory deposit insurance fund in the next year and sends them to the Government of the Russian Federation for inclusion in the draft federal law on the federal budget for the next year;

2) establishes the rate of insurance premiums;

3) determines the directions, conditions and procedure for placement and (or) investment of temporarily free funds of the Agency, as well as the maximum amount of placed and (or) invested funds;

4) decides on the existence of a deficit in the compulsory deposit insurance fund and sends proposals on the procedure for covering it in the event of an insured event to the Government of the Russian Federation no later than five days from the date of receipt of the notification from the Agency’s board;

5) decides to transfer to the federal budget in accordance with the budget legislation of the Russian Federation the federal budget funds received in accordance with this Federal Law after the financial stability of the compulsory deposit insurance fund is restored;

6) approves the procedure for calculating insurance premiums;

7) approves the Agency’s annual report;

8) approves the procedure for granting banks a deferment or installment plan for debt repayment in cases provided for by this Federal Law;

9) approves the Agency’s cost estimate;

10) approves the organizational structure of the Agency;

11) decides on the creation of branches and the opening of representative offices of the Agency;

12) appoints and dismisses the Director General of the Agency;

13) appoints and dismisses members of the Agency’s board of directors;

14) appoints the Agency’s auditor;

15) hears reports from the Director General of the Agency on issues of the Agency’s activities;

16) approves the work regulations of the Agency’s board;

17) manages the activities of the Agency’s internal audit service;

18) makes a decision on the Agency’s issue of bonds and other issue-grade securities;

19) exercises other powers provided for by this Federal Law.

Article 20. Agency Board

1. The quantitative composition of the Agency’s board is determined by the Agency’s board of directors. The Director General of the Agency is an ex-officio member of the Agency's board and directs the work of the Agency's board.

2. Members of the Agency’s board of directors, with the exception of the Agency’s General Director, are appointed to a position for a period of five years by the Agency’s Board of Directors upon the proposal of the Agency’s General Director.

3. Members of the Agency's board work for the Agency on a permanent basis.

4. Members of the Agency’s board may be dismissed from office:

1) upon expiration of the term of office specified in this article by the Director General of the Agency;

2) before the expiration of the term of office specified in this article by the Board of Directors of the Agency on the proposal of the General Director of the Agency.

5. The Agency’s Board of Directors acts on the basis of the Agency’s Board of Directors regulations approved by the Agency’s Board of Directors, which establishes the timing and procedure for convening and holding its meetings, as well as the procedure for making decisions.

6. Minutes are kept at the meeting of the Agency's board. The minutes of the meeting of the Agency's board of directors are presented to members of the Agency's board of directors, external and internal auditors upon their request.

7. Meetings of the Agency’s board are organized by the Agency’s general director or a person authorized by him. The minutes of the Agency's board meeting are signed by the chairman of the board meeting and one of the Agency board members present at the meeting.

Article 21. Powers of the Agency's board

When performing the functions of compulsory deposit insurance, the Agency's board:

1) decides to pay depositors compensation for deposits;

2) makes a decision to include a bank in the register of banks and to exclude a bank from the register of banks in the manner established by this Federal Law;

3) applies to the Bank of Russia with a proposal to apply liability measures to the bank in accordance with Article 74 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”;

4) submits for approval to the Board of Directors of the Agency proposals on the development of the deposit insurance system, directions, conditions and procedure for placing and (or) investing temporarily free funds of the compulsory deposit insurance fund;

5) submits for approval to the Board of Directors of the Agency proposals on the size of the compulsory deposit insurance fund, sufficient to make the expected compensation payments for deposits in the coming year, the projected amount of expenses from the federal budget to cover the deficit of the compulsory deposit insurance fund in the coming year;

6) sends to the Board of Directors of the Agency a notification about the presence of a deficit in the compulsory deposit insurance fund based on data from the registers of banks’ obligations to depositors, the formation of which is provided for in paragraph 4 of part 3 of Article 6 of this Federal Law, no later than three days from the date of receipt from the bank of the register of the bank’s obligations to depositors depositors in accordance with Part 1 of Article 30 of this Federal Law;

7) reviews the Agency’s annual report and submits it for approval by the Agency’s board of directors;

8) submit proposals on the use of the Agency’s profits to the Board of Directors of the Agency;

9) approves the Agency’s staffing table, determines the terms of hiring, dismissal, official duties and rights, the system of disciplinary sanctions, the amount and forms of remuneration for Agency employees;

10) exercise other powers provided for by this Federal Law, if they are not within the competence of the Agency’s board of directors.

Article 22. Director General of the Agency

1. The General Director of the Agency is appointed to the position by the Board of Directors of the Agency upon the proposal of the Chairman of the Board of Directors of the Agency for a period of five years. The candidacy of the Director General of the Agency is submitted to the Board of Directors of the Agency one month before the expiration (end) of the term of office of the Director General of the Agency.

2. The Director General of the Agency may be dismissed from office by the Board of Directors of the Agency upon the proposal of the Chairman of the Board of Directors of the Agency in the following cases:

1) expiration of his term of office;

2) submitting a personal resignation letter to the chairman of the Agency’s board of directors;

3) committing a criminal offense established by a court verdict that has entered into legal force;

4) violations of federal laws that regulate relations related to the activities of the Agency.

Article 23. Powers of the Director General of the Agency

General Director of the Agency:

1) acts on behalf of the Agency and represents its interests without a power of attorney in relations with government bodies, organizations of foreign states and international organizations, other institutions and organizations;

2) heads the board of the Agency and organizes the implementation of decisions of the board of the Agency;

3) issues orders and instructions on the activities of the Agency;

4) distributes responsibilities among his deputies;

5) appoints and dismisses employees of the Agency;

6) makes decisions on other issues within the competence of the Agency, with the exception of issues within the competence of the Board of Directors of the Agency and the Management Board of the Agency.

Article 24. Agency reporting

2. The Agency’s annual report is drawn up annually no later than February 15 of the year following the reporting year, and approved by the Agency’s board of directors before March 15.

3. The Agency’s annual report is sent to the Government of the Russian Federation and the Bank of Russia.

4. The summarized data of the Agency’s annual report and its balance sheet are subject to mandatory publication in the “Bulletin of the Bank of Russia” and “Rossiyskaya Gazeta”.

5. The Agency’s annual report includes:

1) a report on the Agency’s activities for the past reporting period with an analysis of the state of the deposit insurance system and the use of funds from the compulsory deposit insurance fund;

2) the annual balance sheet of the Agency;

3) report on the cash flow of the compulsory deposit insurance fund;

4) a report on profits (losses) received from the placement and (or) investment of temporarily free funds of the Agency;

5) register of banks.

6. The reliability of the Agency’s annual balance sheet, the cash flow statement of the compulsory deposit insurance fund, and the statement of profits (losses) received from the placement and (or) investment of temporarily free funds of the Agency is confirmed by an independent audit organization.

Article 25. Agency audit

1. The Agency’s Board of Directors annually determines an audit firm to audit the Agency’s reporting.

2. The internal audit of the Agency is carried out by the internal audit service, reporting to the Board of Directors of the Agency. The procedure for the formation and activities of the internal audit service is determined by the Agency's board of directors.

3. The Board of Directors of the Agency has the right to make decisions on conducting extraordinary audits and audits of the Agency.

Article 26. Reorganization and liquidation of the Agency

The Agency may be reorganized or liquidated on the basis of a federal law defining the procedure for reorganization or liquidation and use of the Agency's property.

Chapter 4. ORGANIZATIONAL BASICS OF THE SYSTEM
DEPOSIT INSURANCE

Article 27. Fundamentals of interaction between the Agency, government bodies and the Bank of Russia

1. Federal government bodies, government bodies of constituent entities of the Russian Federation, local self-government bodies and the Bank of Russia do not have the right to interfere with the activities of the Agency in the implementation of the functions and powers legally assigned to it.

2. The Agency and the Bank of Russia coordinate their activities and inform each other on the implementation of deposit insurance measures.

3. For the purpose of information support for the functioning of the deposit insurance system, the Bank of Russia sends bank reports and other necessary information to the Agency.

4. The Bank of Russia, no later than the business day following the day the relevant decision was made, informs the Agency:

1) on issuing a permit from the Bank of Russia to the bank;

2) on making a decision to conduct an inspection of the bank at the suggestion of the Agency;

3) on the application by the Bank of Russia of liability measures to the bank in the form of imposing a ban (restriction) on attracting deposits from citizens, the appointment of a temporary administration to manage the credit institution, the revocation (cancellation), as well as the replacement of the Bank of Russia license;

4) on the reorganization of the bank;

5) on the introduction of a moratorium on satisfying the claims of the bank’s creditors.

5. The Agency, no later than the working day following the day the relevant decision was made, informs the Bank of Russia:

1) on the inclusion of the bank in the register of banks and on the exclusion of the bank from the specified register;

2) about changes in the rate of insurance premiums.

6. The Agency has the right to contact the Bank of Russia with proposals:

1) on an inspection of the bank by the Bank of Russia. The procedure for the participation of Agency employees in such inspections, their rights and obligations are established by regulations of the Bank of Russia in agreement with the Agency;

2) on the application by the Bank of Russia to the bank of liability measures provided for by federal laws, with the attachment of documents justifying the need to apply these measures.

7. The Bank of Russia shall inform the Agency about the decision made to conduct an inspection of the bank by the Bank of Russia and about the application of liability measures by the Bank of Russia to the bank within 15 days from the date of receipt of the corresponding proposal.

Article 28. Bank registration and deregistration in the deposit insurance system. Bank register

1. The registration of a bank in the deposit insurance system is carried out by the Agency by entering it into the register of banks on the basis of a notification from the Bank of Russia about the issuance of a Bank of Russia permit to the bank.

2. The Agency enters the bank into the register of banks on the day it receives the notification from the Bank of Russia specified in Part 1 of this article.

3. The Agency deregisters the bank from the deposit insurance system by excluding it from the register of banks in the following cases:

1) revocation (cancellation) of the license of the Bank of Russia and completion by the Agency of the procedure for paying compensation for deposits established by this Federal Law;

2) termination of the right to attract deposits of funds from individuals and to open and maintain bank accounts of individuals in connection with the replacement of the license of the Bank of Russia and the bank’s fulfillment of its obligations to depositors. Simultaneously with making such a decision, the bank is obliged to notify all depositors of its withdrawal from the deposit insurance system;

3) termination of the bank’s activities in connection with its reorganization.

4. Information on the inclusion of a bank in the register of banks and on the exclusion of a bank from this register is subject to publication by the Agency in the “Bulletin of the Bank of Russia” and “Rossiyskaya Gazeta”. The procedure for maintaining the register of banks is established by the Agency.

5. The Agency sends information to the bank about its inclusion in the register of banks and about the exclusion of the bank from the specified register, about the procedure for calculating and paying insurance premiums no later than the day following the day the Agency makes the corresponding decision, and also regularly provides the bank with other necessary information about the system deposit insurance.

6. There is no fee for registering or deregistering a bank in the deposit insurance system.

Article 29. Receipt by the Agency of bank reports and other information

1. The composition of bank reports and other information sent by the Bank of Russia to the Agency, as well as the deadline for submission, are determined by the Bank of Russia in agreement with the Agency.

2. Regarding the participation of banks in the deposit insurance system, the Agency has the right, on the basis of a reasoned request in writing, to receive from banks clarifications regarding information on the payment of insurance premiums by banks, on the maintenance of records and the formation of a register of the bank’s obligations to depositors, on the depositor’s obligations to the bank, execution the bank has other obligations provided for by this Federal Law. These clarifications are sent by banks to the Agency within 15 days from the date of receipt of the relevant request, unless the Agency determines a different period for sending them.

Article 30. The procedure for interaction between the Agency and the bank in respect of which an insured event occurred

1. The bank in respect of which an insured event occurred, within seven days from the date of occurrence of this insured event, submits to the Agency a register of the bank’s obligations to depositors, confirming the attraction of funds into deposits subject to insurance in accordance with this Federal Law.

2. If the bank satisfies (partially satisfies) the depositor’s claim, including during bankruptcy proceedings, the bank (bankruptcy trustee) is obliged to send the relevant information and documents to the Agency on the same day.

3. The Agency has the right to request and receive from the bank in respect of which the insured event occurred, additional information, including copies of documents, if the information provided by the said bank in accordance with parts 1 and 2 of this article is not enough to carry out measures to pay compensation for deposits. The bank in respect of which an insured event occurred is obliged to provide the Agency with the required information within three working days from the date of receipt of the Agency’s corresponding request.

4. The Agency weekly reports to the bank in respect of which the insured event occurred information about the depositors of this bank who received compensation for deposits, the amounts paid by the Agency, as well as about deposits for which compensation for deposits was carried out.

Article 31. Official, commercial and banking secrets

1. The Agency has the right to receive information constituting official, commercial and banking secrets of the bank in respect of which an insured event occurred, necessary for it to carry out the functions established by this Federal Law.

2. The Agency is obliged to provide information that has become known to it about the operations of the bank in respect of which the insured event occurred, on accounts and deposits, about its financial condition, as well as other information that is a commercial and banking secret of the specified bank, at the request of the court, as well as the Bank Russia.

3. In the event of disclosure by the Agency or its officials of information constituting official, commercial or bank secrets, the Agency is obliged, in accordance with the legislation of the Russian Federation, to compensate for the losses caused to the person whose rights were violated.

Article 32. Participation of Agency employees in bank inspections

The Bank of Russia invites Agency employees to participate in inspections of banks on issues related to the volume and structure of the obligations of these banks to depositors, payment of insurance premiums, as well as the performance by banks of other obligations established by this Federal Law.

Chapter 5. FINANCIAL BASICS OF THE DEPOSIT INSURANCE SYSTEM

Article 33. Mandatory Deposit Insurance Fund

1. The compulsory deposit insurance fund is a collection of funds and other property that are formed and used in accordance with this Federal Law.

2. The Mandatory Deposit Insurance Fund is owned by the Agency and is intended to finance the payment of compensation for deposits in the manner and under the conditions established by this Federal Law.

3. The compulsory deposit insurance fund is separated from other property of the Agency. Separate accounting is maintained for the compulsory deposit insurance fund.

4. The funds of the compulsory deposit insurance fund are accounted for in a specially opened account of the Agency with the Bank of Russia. The Bank of Russia does not pay interest on cash balances in this account.

5. The compulsory deposit insurance fund cannot be levied against the obligations of the Russian Federation, constituent entities of the Russian Federation, municipalities, banks, other third parties, as well as the Agency, except for cases where the Agency’s obligations arose in connection with its failure to fulfill its obligations to pay refunds on deposits. Collection from the compulsory deposit insurance fund for the Agency's obligations arising in connection with the Agency's failure to fulfill its obligations to pay compensation for deposits is carried out only on the basis of a judicial act.

Article 34. Sources of formation of the compulsory deposit insurance fund

The compulsory deposit insurance fund is formed through:

1) insurance premiums paid in accordance with this Federal Law;

2) penalties for late and (or) incomplete payment of insurance premiums;

3) funds and other property that are received from the satisfaction of the Agency’s claims acquired as a result of payment to them of compensation for deposits;

4) federal budget funds in cases provided for by this Federal Law;

5) income from the placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund;

6) initial property contribution in accordance with Article 50 of this Federal Law;

7) other income not prohibited by the legislation of the Russian Federation.

Article 35. Insurance premiums

1. Insurance premiums are the same for all banks and are payable by the bank from the day the bank is included in the register of banks until the day of revocation (cancellation) of the license of the Bank of Russia or until the day the bank is excluded from the register of banks in accordance with paragraphs 2 and 3 of part 3 of Article 28 of this Federal law.

2. The first settlement period for the payment of insurance premiums is the period from the day the bank is entered into the register of banks until the day of the end of the calendar quarter, inclusive, in which the bank was entered into the register of banks.

3. The introduction by the Bank of Russia of a moratorium on satisfying the claims of bank creditors suspends the bank’s obligation to pay insurance premiums for the duration of the said moratorium. In this case, the bank is obliged to pay insurance premiums for the billing period during which the specified moratorium was introduced, inclusive of the day preceding the introduction of this moratorium.

Article 36. Procedure for calculating and paying insurance premiums

1. The calculation period for payment of insurance premiums is the calendar quarter of the year.

2. The calculation base for calculating insurance premiums (hereinafter referred to as the calculation base) is defined as the chronological average for the calculation period of daily balances on deposit accounts, with the exception of funds in deposits that are not subject to insurance in accordance with this Federal Law.

3. For deposits in foreign currency, daily balance sheets are determined in the currency of the Russian Federation at the official rate set by the Bank of Russia daily.

4. The rate of insurance premiums cannot exceed 0.15 percent of the calculation base for the last billing period.

5. In cases provided for by this Federal Law, the insurance premium rate may be increased to 0.3 percent of the calculation base, but not more than for two calculation periods within 18 months.

6. The rate of insurance premiums cannot exceed 0.05 percent of the calculation base from the calculation period following the calculation period in which the amount of money from the compulsory deposit insurance fund, including money invested by the Agency in the manner established by this Federal Law, exceeds 5 percent the total amount of deposits in banks.

7. The rate of insurance premiums is established by the Board of Directors of the Agency. If the insurance premium rate changes, the new insurance premium rate is introduced no earlier than 45 days after the relevant decision is made.

8. The decision to establish the rate of insurance premiums is published in the “Bulletin of the Bank of Russia” and “Rossiyskaya Gazeta” no later than five days from the date of its adoption.

9. The procedure for calculating the calculation base is established by the Agency. If this procedure is changed, the new procedure for calculating the calculation base is subject to application from the next billing period. In this case, the new procedure for calculating the settlement base must be brought to the attention of banks no later than 30 days before the start of the new settlement period.

10. Insurance premiums are calculated by banks independently.

11. Payment of insurance premiums is made within five days from the end of the billing period by transferring funds to the Agency’s account with the Bank of Russia, which records the funds of the compulsory deposit insurance fund.

12. The obligation to pay insurance premiums is considered fulfilled by the bank from the moment funds are written off from the bank’s correspondent account with the Bank of Russia.

13. The amount of overpaid insurance premium shall be offset against future payments or refunded in the event of termination of the bank’s obligation to pay insurance premiums in accordance with Article 35 of this Federal Law.

14. Payment of insurance premiums is carried out in the currency of the Russian Federation.

15. Payment of insurance premiums is automatically suspended by banks from the billing period following the billing period in which the amount of funds from the compulsory deposit insurance fund, including funds invested by the Agency in the manner established by this Federal Law, exceeds 10 percent of the total amount of deposits in banks.

16. Payment of insurance premiums is automatically resumed by banks from the billing period following the billing period in which the amount of funds from the compulsory deposit insurance fund, including funds invested by the Agency in the manner established by this Federal Law, is less than 10 percent of the total amount of deposits in banks .

Article 37. Ensuring the fulfillment of the obligation to pay insurance premiums

1. For late or incomplete payment of insurance premiums, banks that committed this violation shall pay penalties.

2. Penalties are recognized as the amount of money established by this article, which the bank must pay in addition to insurance premiums if the latter are paid later than the deadlines established by this Federal Law.

3. The Agency has the right to demand that banks transfer unpaid insurance premiums and accrued penalties and inform the Bank of Russia about the fact of non-payment.

4. Penalties are accrued for each calendar day of delay, starting from the day following the established day for payment of insurance premiums.

5. Penalties for each calendar day of delay are established as a percentage of the timely unpaid amount of insurance premiums. The interest rate of penalties for one calendar day of delay corresponds to the refinancing rate of the Bank of Russia in force during the corresponding period, divided by 360 calendar days.

6. Collection of monetary amounts of unfulfilled obligations of banks to pay insurance premiums, as well as penalties, is carried out by the Agency in court. The specified amounts of money are subject to crediting to the account of the Agency for accounting of funds of the compulsory deposit insurance fund.

Article 38. Placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund

1. The placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund is carried out for the purpose of developing the deposit insurance system on the principles of repayment, profitability and liquidity of financial instruments purchased by the Agency.

2. The directions, procedure and conditions for placement and (or) investment of temporarily free funds of the compulsory deposit insurance fund, as well as the maximum amount of placed and (or) invested temporarily free funds are determined annually by the Board of Directors of the Agency.

3. Temporarily available funds from the compulsory deposit insurance fund may be placed and (or) invested:

1) in government securities of the Russian Federation;

2) in government securities of constituent entities of the Russian Federation;

3) into bonds of Russian issuers, with the exception of those specified in paragraphs 1 and 2 of this part;

4) in shares of Russian issuers created in the form of open joint-stock companies;

5) in units (shares, shares) of index investment funds that place funds in government securities of foreign states, bonds and shares of other foreign issuers;

6) in mortgage securities issued in accordance with the legislation of the Russian Federation on mortgage securities;

7) in securities of states that are members of the Organization for Economic Cooperation and Development;

8) in deposits and securities of the Bank of Russia.

4. It is not permitted to place temporarily free funds from the compulsory deposit insurance fund in other investment objects not expressly provided for by this Federal Law.

5. Temporarily available funds of the compulsory deposit insurance fund cannot be used to purchase securities of issuers in respect of which pre-trial rehabilitation measures are being taken, or bankruptcy proceedings have been initiated (supervision, temporary (external) management, bankruptcy proceedings) in accordance with the legislation of the Russian Federation bankruptcy, or such procedures were applied during the previous two years.

6. Placement of temporarily free funds of the compulsory deposit insurance fund in securities is permitted only:

1) if they are traded on the securities market or specially issued by the Government of the Russian Federation to place funds of institutional investors - for the securities specified in paragraph 1 of part 3 of this article;

2) if they are traded on the organized securities market and meet the criteria established by the federal executive body authorized by the Government of the Russian Federation - for the securities specified in paragraphs 2 - 4 and 6 of part 3 of this article.

7. The use of forward transactions (purchase of options on securities, conclusion of futures and forward contracts) is permitted solely for the purpose of insurance (hedging) of risks in the manner prescribed by the legislation of the Russian Federation.

8. Financial instruments purchased from the funds of the compulsory deposit insurance fund are its integral part and are reflected on the balance sheet on which this fund is accounted for.

The funds of the compulsory deposit insurance fund are directed by the Agency to finance compensation payments for deposits, as well as expenses associated with the implementation of functions for compulsory deposit insurance, and other purposes in accordance with this Federal Law.

Article 40. Financing of Agency expenses

1. The Agency’s expenses for carrying out activities related to compulsory deposit insurance activities are carried out at the expense of the Agency’s property.

2. In case of insufficiency of the specified property, financing of activities related to compulsory deposit insurance activities may be carried out at the proposal of the Agency’s board of directors from the reserve fund of the Government of the Russian Federation.

Article 41. Ensuring the financial stability of the deposit insurance system
(as amended by Federal Law No. 197-FZ dated December 29, 2004)

1. The financial stability of the deposit insurance system is ensured by the Agency’s property and federal budget funds in the manner and under the conditions established by this Federal Law and the budget legislation of the Russian Federation.

2. To ensure the financial stability of the deposit insurance system, the federal law on the federal budget for the corresponding year establishes the right of the Government of the Russian Federation to issue budget loans and borrow, the maximum volume of these borrowings, as well as the maximum volume of corresponding federal budget expenditures.

3. If the Board of Directors of the Agency confirms the decision of the Board of Directors of the Agency on the impossibility of making reimbursement of deposits within the time limits established by this Federal Law without replenishing the compulsory deposit insurance fund from additional funds (except for insurance premiums and other planned revenues), the Board of Directors of the Agency within the time limit, not exceeding seven calendar days after the occurrence of the insured event, makes one of the following decisions:

1) apply to the Government of the Russian Federation with a request to allocate the appropriate funds to the Agency in the form of a budget loan, if the deficit of the compulsory deposit insurance fund calculated by the Agency’s board is no more than 1 billion rubles. The Government of the Russian Federation makes a corresponding decision within a period not exceeding seven calendar days;

2) apply to the Government of the Russian Federation with a request to allocate additional funds to the Agency from the federal budget if the deficit of the compulsory deposit insurance fund calculated by the Agency’s board exceeds 1 billion rubles. If it is impossible to allocate these funds, the Government of the Russian Federation, within the framework of its powers, submits to the State Duma of the Federal Assembly of the Russian Federation a draft federal law on introducing appropriate amendments to the federal law on the federal budget for the corresponding year within a period not exceeding seven calendar days from the date of receipt of the application of the board of directors Agencies.

4. In order to restore the compulsory deposit insurance fund, the Agency’s board of directors may establish an increased rate of insurance premiums in accordance with this Federal Law.

Article 42. Control over the functioning of the deposit insurance system

1. Control over the functioning of the deposit insurance system is carried out by the Government of the Russian Federation and the Bank of Russia through the participation of their representatives in the management bodies of the Agency.

2. The Agency’s Board of Directors annually, on a competitive basis, determines an audit organization to conduct an audit of the Agency’s use of the compulsory deposit insurance fund.

3. Control over the expenditure of federal budget funds allocated to the compulsory deposit insurance fund is carried out in the manner prescribed for the use of federal budget funds.

Chapter 6. FINAL AND TRANSITIONAL PROVISIONS

Article 43. Features of registration in the deposit insurance system of banks that have permission from the Bank of Russia on the day this Federal Law comes into force

1. A bank that has a permit from the Bank of Russia on the day this Federal Law comes into force is registered in the deposit insurance system by entering it into the register of banks by the Agency on the basis of a notification from the Bank of Russia that it has issued a positive conclusion on the bank’s compliance with the requirements established by Article 44 of this Federal Law (hereinafter referred to as requirements for participation in the deposit insurance system).

2. The Agency enters the bank into the register of banks no later than the next business day from the date of receipt of the notification from the Bank of Russia specified in Part 1 of this article.

3. Deposits in a bank that has a permit from the Bank of Russia on the day this Federal Law comes into force are subject to insurance in the manner established by this Federal Law from the day it is registered in the deposit insurance system.

Article 44. Requirements for participation in the deposit insurance system of banks that have permission from the Bank of Russia on the day this Federal Law comes into force

1. A bank that has a permit from the Bank of Russia on the day this Federal Law comes into force is recognized as meeting the requirements for participation in the deposit insurance system if it simultaneously meets the following conditions:

1) if the bank’s accounting and reporting are recognized by the Bank of Russia as reliable;

2) if the bank complies with the mandatory standards established by the Bank of Russia;

3) if the financial stability of the bank is recognized by the Bank of Russia as sufficient;

4) if the measures provided for in Article 74 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, Article 20 of the Federal Law “On Banks and Banking Activities”, Article 3 of the Federal Law of February 25, 1999 N 40-FZ “On Insolvency” (bankruptcy) of credit organizations” do not apply to the bank, and there are no grounds for their application based on the results of a thematic inspection conducted in accordance with Part 4 of Article 45 of this Federal Law.

2. Bank accounting and reporting are recognized by the Bank of Russia as reliable if at the same time:

1) the bank’s accounting and reporting comply with federal laws, norms and rules established by the Bank of Russia, and the bank’s own accounting policies;

2) possible shortcomings or errors in the state of the bank’s accounting or reporting do not significantly affect the assessment of its financial stability.

3. The financial stability of the bank is assessed by the Bank of Russia according to the groups of indicators specified in Part 4 of this article, with the determination for each of them of a general result of “satisfactory” or “unsatisfactory” and is recognized by the Bank of Russia as sufficient if there is a result “satisfactory” for all groups of indicators.

4. To assess the financial stability of the bank, the following groups of indicators are used:

1) a group of indicators for assessing capital, including indicators for assessing the adequacy and quality of capital;

2) a group of asset assessment indicators, including indicators of the quality of debt on loans and other assets, the amount of reserves for losses on loans and other assets, the degree of concentration of risks on assets, including the amount of credit risks for shareholders (participants) and insiders;

3) a group of indicators for assessing the quality of management of the bank, its operations and risks, including indicators of the transparency of the ownership structure, the organization of the risk management system, including control over the value of the currency position, the internal control service, including the system for combating money laundering and the financing of terrorism;

4) a group of indicators for assessing profitability, including indicators of return on assets and capital, the structure of income and expenses, the profitability of certain types of operations and the bank as a whole;

5) a group of indicators for assessing liquidity, including indicators of liquidity of assets, liquidity and structure of liabilities, overall liquidity of the bank, risk to large creditors and depositors.

5. The composition of the indicators specified in this article, the methods for calculating them and determining the generalized result for them are established by regulations of the Bank of Russia and are published by the Bank of Russia in the “Bulletin of the Bank of Russia” no later than a month from the date of entry into force of this Federal Law.

Article 45. The procedure for the Bank of Russia to issue an opinion on the compliance of banks that have a permit from the Bank of Russia on the date of entry into force of this Federal Law with the requirements for participation in the deposit insurance system

1. A bank that has permission from the Bank of Russia on the date of entry into force of this Federal Law, and has made a decision to participate in the deposit insurance system, has the right, within a period not exceeding six months from the date of entry into force of this Federal Law, to submit to the Bank of Russia a petition for The Bank of Russia’s conclusion on the bank’s compliance with the requirements for participation in the deposit insurance system (hereinafter also referred to as the conclusion).

2. The Bank of Russia issues an opinion within a period not exceeding nine months from the date the Bank of Russia receives the bank’s petition for the Bank of Russia to issue an opinion (hereinafter also referred to as the petition).

3. The Bank of Russia’s consideration of banks’ applications and the issuance of opinions on them must be completed within a period not exceeding 15 months from the date of entry into force of this Federal Law.

4. Consideration of the application by the Bank of Russia consists of the following stages:

1) preliminary analysis of the bank’s compliance with the requirements for participation in the deposit insurance system;

2) a thematic inspection to assess the reliability of accounting and reporting, as well as to establish facts that are related to determining the bank’s compliance with the requirements for participation in the deposit insurance system and that cannot be obtained by remote supervision methods;

3) final analysis of the results, including calculation of the values ​​of all criteria;

4) making a positive or negative conclusion.

5. Thematic inspections carried out in accordance with this Federal Law are not subject to parts five and six of Article 73 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”.

6. If the Bank of Russia issues a negative opinion, the bank has the right, after eliminating the identified inconsistencies, to submit a repeated application to the Bank of Russia, except in cases where there are grounds for revoking the bank’s Bank of Russia license in accordance with the legislation of the Russian Federation.

7. A repeated application is submitted by the bank within a period not exceeding 16 months from the date of entry into force of this Federal Law.

8. The Bank of Russia’s consideration of a repeated application and the issuance of an opinion on it must be completed within a period not exceeding 21 months from the date of entry into force of this Federal Law.

9. The bank is not allowed to submit an application to the Bank of Russia more than twice.

10. The Banking Supervision Committee of the Bank of Russia issues an opinion.

11. The Bank of Russia sends the decision to the bank to issue a positive or negative opinion no later than the next business day after the day it was issued.

12. The bank, within a month from the date the Bank of Russia issues a negative conclusion based on the results of consideration of the repeated application, has the right to appeal this conclusion to the Banking Supervision Committee of the Bank of Russia, and if it confirms the negative conclusion, appeal again to the Chairman of the Bank of Russia within a month after such confirmation.

13. The Banking Supervision Committee of the Bank of Russia and the Chairman of the Bank of Russia consider the bank’s application to appeal the negative opinion within a month.

14. The procedure for consideration by the Bank of Russia of a petition and application to appeal a negative opinion is established by regulations of the Bank of Russia and is published by the Bank of Russia in the Bulletin of the Bank of Russia no later than a month after this Federal Law comes into force.

15. The Bank of Russia sends a notification to the Agency about the adoption of a positive opinion no later than the next business day after the day it was issued.

Article 46. Consequences of refusal of a bank that has permission from the Bank of Russia on the date of entry into force of this Federal Law to participate in the deposit insurance system

1. For the purposes of this Federal Law, a bank’s refusal to participate in the deposit insurance system is recognized as:
1) failure by the bank to submit an application to the Bank of Russia within six months from the date of entry into force of this Federal Law;

2) the bank sends an application to the Bank of Russia to refuse to attract funds from individuals on deposit, to open and maintain bank accounts for individuals.

2. The Bank of Russia in relation to banks that refused, in accordance with Part 1 of this article, to participate in the deposit insurance system:

1) after 21 months from the date of entry into force of this Federal Law, he is obliged to introduce a ban on attracting deposits of funds from individuals and opening bank accounts for individuals, which is valid until the day the bank’s right to work with deposits is terminated in the manner established by this Federal Law and the regulatory acts of the Bank of Russia adopted in accordance with it, or until the day the bank’s license of the Bank of Russia is revoked;

2) from the moment when the bank is recognized as having refused to participate in the deposit insurance system, but no later than 21 months from the date of entry into force of this Federal Law, sends a request for the bank to submit a petition to terminate the right to work with deposits.

3. Banks to which, in accordance with Part 2 of this article, the specified requirement of the Bank of Russia was sent, are obliged to send to the Bank of Russia within a month, in the manner established by the regulations of the Bank of Russia, a petition for termination of the right to work with deposits.

4. Banks that have sent a petition to the Bank of Russia to terminate the right to work with deposits, from the date of sending this petition, do not have the right to attract funds from individuals into deposits, as well as to credit additional funds to the accounts of deposits of individuals with whom the agreement was concluded bank deposit agreement or bank account agreement, before sending such a request. Information about this must be posted in the premises of the bank accessible to clients, in which depositor services are provided, on the day the specified application is sent to the Bank of Russia.

5. A bank deposit agreement or a bank account agreement with individuals, concluded by the bank before the day of the introduction of the ban of the Bank of Russia on attracting funds from individuals on deposits and opening bank accounts for individuals, is not subject to termination, except in the case of an application by the owner of the deposit (account) with request for termination of the relevant contract. Additional funds, with the exception of interest accrued in accordance with the terms of the bank deposit agreement or bank account agreement, are not credited to the deposit (account) and are subject to return to the persons who gave instructions to credit funds to the deposit (account).

6. On the day the Bank of Russia introduced, in accordance with Part 2 of this article, a ban on attracting funds from individuals on deposits and opening bank accounts for individuals, they are required to post information about the termination of the right to attract funds from individuals on deposits and (or) accounts, on the termination of the right to conclude new bank deposit agreements or bank account agreements with individuals, as well as information on the prohibition of crediting additional funds to deposits and (or) accounts opened with the bank before the day the ban was introduced by the Bank of Russia, in bank premises accessible to clients , in which depositor services are provided.

7. If the bank fails to fulfill the obligations established by parts 3 - 6 of this article, the Bank of Russia applies to it the penalties provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the Federal Law “On Banks and Banking Activities” and other federal laws. laws.

Article 47. Consequences of the Bank of Russia issuing a negative opinion

1. For the purposes of this Federal Law, a bank that has a permit from the Bank of Russia on the day this Federal Law comes into force is recognized as not meeting the requirements for participation in the deposit insurance system in the event of:

1) failure to submit a repeated application to the Bank of Russia in the manner established by parts 6 - 8 of Article 45 of this Federal Law;

2) the Bank of Russia issues a negative opinion based on the results of the Bank of Russia’s consideration of the bank’s repeated application and applications to appeal the negative opinion.

2. The Bank of Russia, within a month after issuing a negative conclusion based on the results of consideration of a repeated petition, or within a month after the expiration of the period for sending a repeated petition by the bank, or within a month after making a decision on the unchanged negative conclusion based on the results of consideration of applications to appeal the negative conclusion, is obliged :

3. A bank recognized by the Bank of Russia as not meeting the requirements for participation in the deposit insurance system in accordance with Part 1 of this article is obliged, within a month from the date the Bank of Russia introduced a ban on attracting deposits of individuals’ funds and opening bank accounts for individuals based on the results repeated inspection carried out by him or after the expiration of the period for the bank to send a repeated petition, send to the Bank of Russia in accordance with the procedure established by the regulations of the Bank of Russia, a petition for termination of the right to work with deposits.

4. A bank deposit agreement or a bank account agreement with individuals, concluded by the bank before the date of the introduction of the specified ban by the Bank of Russia, is not subject to termination, except in the case of an application by the owner of the deposit (account) with a request to terminate the corresponding agreement. Additional funds that have been deposited into the deposit (account) since the date the Bank of Russia introduced this prohibition, with the exception of interest accrued in accordance with the terms of the bank deposit agreement or bank account agreement, are not credited and must be returned to the persons who gave instructions to credit the funds. funds to deposit (account).

5. Banks in respect of which, in accordance with Part 2 of this article, a ban has been introduced by the Bank of Russia on attracting deposits of funds from individuals and opening bank accounts for individuals, are obliged no later than the working day following the day of introduction of this ban, to post information about the termination the right to attract funds from individuals into deposits and (or) accounts, about the termination of the right to conclude new bank deposit agreements or bank account agreements with individuals, as well as information about the prohibition of crediting additional funds to deposits and (or) accounts, opened at the bank until the day of receipt of the specified order, in the premises of the bank accessible to clients in which depositor services are provided.

6. If the bank fails to fulfill the obligations established by parts 3 - 5 of this article, the Bank of Russia applies to it the penalties provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the Federal Law “On Banks and Banking Activities” and other federal laws laws.

Article 48. Consequences of non-compliance of banks that are included in the register of banks with the requirements for participation in the deposit insurance system

1. Banks that are included in the register of banks are required to meet the requirements for participation in the deposit insurance system.

2. The Bank of Russia, in accordance with the legislation of the Russian Federation, exercises supervision over the compliance of banks with the requirements specified in Part 1 of this article.

3. If a bank does not meet the requirements for participation in the deposit insurance system for three consecutive months, the Bank of Russia is obliged to:

1) send a request for the specified bank to submit a petition to terminate the right to work with deposits;

2) introduce a ban on attracting deposits of funds from individuals and opening bank accounts of individuals, which is valid until the day the bank’s right to work with deposits is terminated in the manner established by this Federal Law and the regulations of the Bank of Russia adopted in accordance with it, or until the day of revocation of the Bank of Russia license from the bank.

4. A bank recognized by the Bank of Russia as not meeting the requirements for participation in the deposit insurance system within the period established by part 3 of this article is obliged, within a month from the date the Bank of Russia introduced a ban on attracting deposits of individuals’ funds and opening bank accounts for individuals send to the Bank of Russia, in accordance with the procedure established by the regulations of the Bank of Russia, a petition to terminate the right to work with deposits.

5. A bank deposit agreement or a bank account agreement concluded by a bank with individuals before the date of introduction of the specified ban by the Bank of Russia is not subject to termination, except in the case of an application by the owner of the deposit (account) with a request to terminate the corresponding agreement. Additional funds that have been deposited into the deposit (account) since the date the Bank of Russia introduced this prohibition, with the exception of interest accrued in accordance with the terms of the bank deposit agreement or bank account agreement, are not credited and must be returned to the persons who gave instructions to credit the funds. funds to deposit (account).

6. Banks in respect of which, in accordance with Part 3 of this article, a ban has been introduced by the Bank of Russia on attracting deposits of funds from individuals and opening bank accounts for individuals, are obliged no later than the working day following the day of introduction of this ban, to post information about the termination the right to attract funds from individuals into deposits and (or) accounts, about the termination of the right to conclude new bank deposit agreements or bank account agreements with individuals, as well as information about the prohibition of crediting additional funds to deposits and (or) accounts, opened at the bank until the day of receipt of the specified order, in the premises of the bank accessible to clients in which depositor services are provided.

7. If the bank fails to fulfill the obligations established by parts 4 - 6 of this article, the Bank of Russia applies to it the penalties provided for by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the Federal Law “On Banks and Banking Activities” and other federal laws laws.

8. A bank that has refused to participate in the deposit insurance system in accordance with Article 46 of this Federal Law has the right to apply for a permit from the Bank of Russia or to lift the ban on attracting deposits from individuals and opening bank accounts for individuals no earlier than two years from the day of entry into force of this Federal Law.

9. A bank regarding which, in accordance with Article 47 of this Federal Law, a negative conclusion has been issued on compliance with the requirements for participation in the deposit insurance system, or which, in accordance with this article, is recognized as not meeting such requirements, has the right to again apply for the issuance of a permit from the Bank of Russia or the withdrawal a ban on attracting funds from individuals into deposits and opening bank accounts for individuals no earlier than two years from the date of termination of the right to work with deposits.

Article 49. Features of the return of deposits of individuals in credit institutions in which the Bank of Russia participates in the capital, in the deposit insurance system

(as amended by Federal Law No. 106-FZ dated August 20, 2004)

Return of deposits of individuals in the amount exceeding the amounts of compensation determined by this Federal Law for deposits in credit institutions in which the Bank of Russia participates in the capital, under bank deposit agreements or bank account agreements concluded before October 1, 2004, if no amendments were made to these agreements any changes and additions after September 30, 2004 are ensured by the subsidiary liability of the Russian Federation for the depositor's claims to the bank in the manner provided for in Article 399 of the Civil Code of the Russian Federation, until January 1, 2007.

Article 50. Property contribution of the Russian Federation

1. The property contribution of the Russian Federation to the Agency’s property is carried out by transferring to it the state corporation “Agency for Restructuring of Credit Institutions” 3 billion rubles. Of this amount, 2 billion rubles are allocated to the compulsory deposit insurance fund and 1 billion rubles - to generate sources of Agency expenses for carrying out activities provided for by this Federal Law.

2. The property contribution specified in Part 1 of this article is made in cash and (or) government securities of the Russian Federation with their valuation at market value within six months from the date of entry into force of this Federal Law.

3. Funds received by the state corporation “Agency for the Restructuring of Credit Institutions” upon completion of measures for the restructuring of credit organizations are transferred in accordance with the decisions of its board of directors into the ownership of the Agency as a property contribution of the Russian Federation.

Article 51. Entry into force of this Federal Law

1. This Federal Law comes into force on the date of its official publication.

2. The Government of the Russian Federation and the Bank of Russia, within ten days from the date of entry into force of this Federal Law, determine candidates for their representatives on the Agency’s board of directors.

The president
Russian Federation
V. PUTIN

The fundamentals of regulation of the insurance system in Russian banks must be regulated by law. This article will talk about 177-FZ "On Deposit Insurance", which establishes provisions on the financial, organizational and legal foundations of organizations engaged in compulsory insurance of deposits of individuals.

General characteristics of the federal law

177-FZ aims to protect the interests and rights of Russian depositors, strengthen civil confidence in the national banking system and qualitatively stimulate people's savings in this system. If we talk about what kind of relations are regulated by the presented normative act, then it is worth highlighting the formation and use of a deposit insurance system, the payment of compensation for deposits, as well as the relations that arise in connection with the implementation of state control and supervisory functions in the system under consideration.

What exactly is a contribution? According to 177-FZ, these are financial assets denominated in national or foreign currency and placed in a Russian bank with the consent of an individual under a special agreement. Deposit compensation is the amount that is payable to the depositor.

On the functioning of the deposit insurance system

According to the law, the Agency is a state corporation created on the territory of the Russian Federation and has its own charter, coat of arms, purpose and powers. The agency has a number of accounts with the Bank of Russia. The powers of the represented organization include opening bank accounts and concluding contracts within the scope of its powers.

It is easy to guess that the main purpose of the Agency’s functioning is to ensure the system. If we talk about the specific functions of the organization, then it is worth mentioning:

• organization of a bank register;
• collection of insurance premiums;
• implementation of a number of measures to take into account the requirements of depositors to the banking enterprise, payment of refunds on deposits;
• control over the receipt of insurance contributions to the relevant fund, etc.

It is also worth noting that the Agency can act as a liquidator of bankrupt credit institutions.

System organization

Article 27 of Federal Law No. 177-FZ “On Deposit Insurance” reveals in a little more detail the principle of operation of the entire deposit insurance system. The law describes the interaction of the Agency with the Russian Bank (BR). Thus, the Agency’s responsibilities include timely informing the BR about the following phenomena:

• replacement of the BR license;
• formation of a moratorium on satisfying certain demands made by the bank’s creditors;
• revocation of the BR license;
• issuance of permission to any bank from the BR;
• appointment of a temporary administration to manage a credit institution, etc.

The Bank of Russia is also obliged to inform the Agency about similar cases. It is also worth noting that subsequent articles talk about registering a bank, the procedure for action in the event of an insured event, as well as the control and supervisory functions of the Agency when inspecting banking enterprises.

About changes to 177-FZ in 2017

The latest edition of the regulatory act in question came into force on July 31, 2017. Minor changes were made to the law. In particular, Part 1 of Article 8 (about an insured event) indicates the implementation of a participation plan for the settlement of bank obligations either by the Agency or the Bank of Russia. Before the changes, the article only referred to the Agency.

Article 18 talks about the Agency's Board of Directors. According to the new edition, the headquarters of such a Council was replenished with two more representatives from the Bank of Russia (previously there were five).

1. The Agency, within five working days from the date of receipt from the bank in respect of which the insured event occurred, publishes the register of the bank’s obligations to depositors on the Agency’s official website on the Internet and sends it to this bank, as well as to the Bank of Russia for posting on its official website on the Internet information and telecommunications network and in a periodical printed publication at the location of this bank for publication of a message about the place, time, form and procedure for accepting applications from depositors for payment of compensation for deposits. Within one month from the date of receipt from the bank of the register of the bank’s obligations to depositors, the Agency also sends a corresponding message to the depositors of the bank in respect of which the insured event occurred.

2. The depositor has the right to receive the information specified in Part 1 of this article directly from the bank in respect of which the insured event occurred, as well as from the Agency.

3. When a depositor (his representative) submits to the Agency the documents provided for in Part 4 of Article 10 of this Federal Law, the Agency, at the depositor’s request, provides the depositor with an extract from the register of the bank’s obligations to depositors indicating the amount of compensation for his deposits.

4. Payment of compensation for deposits is made by the Agency in accordance with the register of the bank’s obligations to depositors, formed by the bank in respect of which the insured event occurred, within three working days from the date the depositor submitted to the Agency the documents provided for in Part 4 of Article 10 of this Federal Law, but no earlier than 14 days from the date of the occurrence of the insured event, unless an earlier period is determined by a decision of the Agency’s board.

5. When paying compensation for deposits, the Agency, at the request of the depositor, provides the depositor with a certificate of the amounts paid and the deposits for which compensation was made.

6. If, through the fault of the Agency, the agreed amount of compensation for deposits is not paid within the time limits established by this article, the Agency shall pay the depositor interest on the amount of non-payment, calculated in the amount of the refinancing rate established by the Bank of Russia on the day of the actual payment of compensation for deposits by the Agency.

7. If the depositor disagrees with the amount of compensation for deposits to be paid, the Agency invites the depositor to submit to the Agency additional documents confirming the validity of his claims, and sends them to the bank for consideration. The bank, within 10 working days from the date of receipt of these documents, is obliged to review them and, if the depositor’s demands are justified, make appropriate changes to the register of the bank’s obligations to depositors, and also send to the Agency a message about the results of consideration of the depositor’s claims and about changes made to the register of the bank’s obligations to depositors. by investors.

8. After agreeing with the bank and the depositor on the amount of the bank’s obligations, on the basis of additionally submitted documents, the Agency pays the depositor the amount of compensation for deposits in the prescribed manner.

9. If, in the manner prescribed by parts 2 and 3 of Article 10 of this Federal Law, the period for filing a claim for payment of compensation for deposits is restored, the depositor has the right to receive compensation for deposits in an amount corresponding to the amount of the bank’s obligations to him, indicated in the register of bank obligations to investors.

10. In case of disagreement with the amount of compensation to be paid on deposits, the depositor, in accordance with the legislation of the Russian Federation, has the right to apply to the court with a claim to establish the composition and amount of the relevant claims, as well as the compensation to be paid on deposits.

11. Payment of compensation for deposits of an individual (except for deposits of individual entrepreneurs opened for business activities) to a depositor (heir - individual) can be carried out at the request of the depositor (his representative), heir (his representative) both in cash and by transferring funds to the bank account specified by such depositor (his representative), heir (his representative) opened with the bank. Payment of compensation for the deposit of an individual (with the exception of deposits of individual entrepreneurs opened for business activities) to an heir - a small enterprise is made by transferring funds to the bank account of such an heir opened in a bank or other credit organization. Assignment of rights of claim of an individual to the Agency is not permitted.

11.1. Payment of compensation for deposits of individual entrepreneurs opened for business activities to a depositor (heir - an individual or heir - a small enterprise) is made by the Agency by transferring funds to the bank account specified by such depositor (his representative), heir (his representative) opened in bank or other credit organization. If the specified depositor at the time of payment of compensation is an individual entrepreneur, the funds are subject to transfer to his bank account opened with a bank or other credit organization for business activities. Payment of compensation for deposits of small enterprises to the depositor (legal successor) is made by the Agency by transferring funds to the bank account of such a small enterprise (bank account of its legal successor) specified by the depositor (his representative), legal successor (his representative), opened with a bank or other credit organization. Assignment of the rights of claim of an individual entrepreneur or small enterprise to the Agency is not permitted.

11.2. If at the time of payment of insurance compensation the depositor is declared insolvent (bankrupt), such payment is made by the Agency by transferring funds to the debtor’s account used during bankruptcy proceedings (sale of a citizen’s property) in the manner established by the Agency.

12. Acceptance from depositors of applications for payment of compensation for deposits and other necessary documents, including those provided for in Part 4 of Article 10 of this Federal Law and Part 7 of this Article, as well as payment of compensation for deposits can be carried out by the Agency through agent banks acting on its behalf name and at his expense. The procedure for interaction of agent banks with the Agency, including standards for compensation of costs of agent banks, is established by the Board of Directors of the Agency. The procedure for the competitive selection of agent banks is established by the Agency's board of directors in agreement with the federal antimonopoly authority.

13. Payment of compensation for deposits is made in the currency of the Russian Federation.

Judicial practice under Article 12 of the Federal Law of December 23, 2003 No. 177-FZ

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