About DIA

The State Corporation Deposit Insurance Agency was established in January 2004 on the basis of the Federal law «On the Insurance of Household Deposits in Banks of the Russian Federation» # 177-FZ dated 23.12.2003. To ensure operations of deposit insurance system the Agency shall reimburse insured depositors when an insured event occurs; keep register of the deposit insurance system’s member banks; monitor accumulation of the deposit insurance fund including verification of accuracy of the deposit insurance premiums paid by member banks; manage the resources of the deposit insurance fund.

The Federal Law «On amendments to the Federal Law "On insolvency (bankruptcy) of credit institutions" and on terminating some legal acts of the Russian Federation» dated 20.08.2004 # 121-FZ established an institute of the corporate receiver/liquidator of failed banks in Russia. The functions of the corporate receiver/liquidator were delegated to the Agency.

On October 27, 2008 the Federal Law # 175-FZ «On Additional Measures to Strengthen the Stability of the Banking System through December 31, 2014» came into force, which entitled the Agency with the functions of financial rehabilitation of socially and economically important banks.