OREANDA-NEWS. February 14, 2011.  As of February 1, 2011 - 909 banks are participating in the deposit insurance system (DIS). Among them there are 77 banks under liquidation process in connection with insured events occurrence, and 13 operating banks that are no longer entitled to open up new accounts, and accept new households’ deposits. The public totally placed RUR 9.8 trillion with DIS participating banks.

Totally during DIS operations since its establishment one hundred insured events have occurred. DIA total insurance liability relating to payouts due to depositors of failed DIA member banks reached RUR 37.8 billion, the total number of insured depositors of the failed banks that are eligible for receiving reimbursement – 866,600. As of February 1, 2011 – 245,600 insured depositors have applied for compensation (28.3% of the total number), they were reimbursed RUR 35.86 billion (94.8% of the total amount).

DIS enables depositors to get access to their funds in the shortest possible time. With regard to all insured events deposit insurance payouts started no later than in 14 days after the bank’s license was revoked (on average payment started after 12 days).

Organizational infrastructure has been formed that enables insured depositors to realize in practice their legally established right to promptly get access to their insured deposits. For the above purposes a network of agent banks was instituted. As of February 1, 2011 - 58 banks were accredited in this capacity and deposit insurance payouts can be arranged through these banks in any regional entity of the Russian Federation.

Agent banks were used for arranging payouts to depositors of 78 DIS member banks. For 15 insured events that occurred in multi-branch banks, two and more agent banks were involved in the payout process. The total payments effected through agent banks reached RUR 35.76 billion. For 21 banks DIA conducted payouts by itself, as the number of depositors and the volume of payments were inconsiderable. The total amount paid by the Agency itself was RUR 100 million.

As of February 1, 2011 the Deposit Insurance Fund’s resources amounted to RUR 120 billion. 48% of the above amount was invested in corporate bonds; 26% invested in the Federal bonds of the Russian Federation; 11% - in regional entities’ bonds; 7% - in shares, and 6% funds were placed in deposits with the Bank of Russia. The share of monetary funds amounted to 2%. The rate of earnings of the invested DIF resources during 2010 was 12.1% per annum. After the profits from investments for 2010, estimated as RUR 10 billion, will be added to the Deposit Insurance Fund in the first quarter of the current year, the DIF size will reach RUR 130 billion.