Operation of deposit insurance system

The organizational scheme of the mandatory deposit insurance system (hereinafter referred to as DIS) was completely formed in early 2006 and began to operate in a stable regime.

The system involved 931 banks before the beginning of the period of the report. In 2006 the Agency included 10 banks into the DIS member bank register, which were licensed by the Bank of Russia to operate with household deposits. Seven banks were excluded from the register, as they ceased activities due to reorganization in the form of merger or takeover. The composition of DIS member-banks beginning from 2004 is indicated in Table 1.

Table 1. DIS member bank composition

Thus, 934 banks were registered in the deposit insurance system as of January 1, 2007. They account for 99.3% of all monetary funds deposited by private individuals in the banks of the Russian Federation.