Bank deposit guarantee

Bank deposit guarantee

Deposit Insurance System (DIS) - State deposit protection mechanism by insuring their banks (guarantee).


The basic idea of ​​CERs is to hold fast payments to depositors from an independent financial source (for example, a special fund) in the event of termination of bank activity (recall his appropriate license). Thus, without waiting for the start of liquidation proceedings, the depositors are guaranteed to have access to their funds.

Experience in most economically developed countries of the world shows that the system of insurance (assurance) of bank deposits is an effective tool for solving complex social and macroeconomic objectives. First of all, it helps to prevent panic among depositors, thus ensuring stability of the banking system and reducing the social costs of overcoming the consequences of the crisis. In addition, the availability of CERs increases public confidence in the banking system, creating conditions for long-term growth of private deposits.

Currently CER exists in various forms in 104 countries around the world. More than half of all insurers are part of the International Association of Deposit Insurers (IADI or IADI).

In the CIS countries the deposit insurance system applies only to individuals. In some countries (eg Canada) not insured bank accounts in foreign currency, as practiced in some countries, in part (usually 90%) deposit insurance, as well as denial of insurance of foreign citizens' deposits.

It is worth noting that in most developed countries the value of the deposit insurance system is now significantly reduced due to the consolidation of the banking sector and the preference of the state sanitize the banks instead of their bankruptcy and liquidation. For example, in Canada, the last case of insurance payments to depositors dates back to 1996.

Bank deposit guarantee in Russia

Deposit insurance in the Russian Federation in accordance with the Federal law "On insurance of individual deposits in Russian banks» № 177-FZ dated 23 December 2003 (hereinafter - the Law or the Law on Insurance of Deposits).

Insurance funds are subject to individuals (and from 1 January 2014 - and individual entrepreneurs), placed in deposits and bank accounts, registered on the territory of the Russian Federation. A number of exceptions is shown below in a separate section.

Also subject to insurance funds to bank cards (except credit cards), as well as regular bank accounts opened by individuals.

Bank deposit guarantee in US

The United States is the first country where there was a bank deposit insurance system. The need for the creation of this system was due to the economic crisis - the Great Depression. As a result, in 1933 the Act of Glass-Steagall Act was created by the Federal Deposit Insurance Corporation.

Initially, the insurance limit was $ 5,000. Until 2008, the standard insurance compensation in the United States amounted to US $ 100 000. In 2008 it was increased to 250 000 US dollars.