An evaluation of draft legislation on Russian depposit insurance

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Title: An evaluation of draft legislation on Russian depposit insurance
Author: Fantini, Marco
Organization: Bank of Finland
Suomen Pankki
Department / Unit: Institute for Economies in Transition (BOFIT)
Siirtymätalouksien tutkimuslaitos (BOFIT)
Series: BOFIT Online
Series number: 2003/1
Year of publication: 2003
Publication date: 21.1.2003
Pages: 8 s.
Keywords: pankkitoiminta; talletussuoja; lainsäädäntö; Venäjä; Bofit-kokoelma
Abstract: On 18 November 2002, the Russian cabinet approved a plan to introduce deposit insurance.The introduction of deposit insurance is an essential condition for the modernisation of Russia s banking sector, and, in particular, for ending the near-monopoly of Sberbank, the State Savings Bank, in the retail segment.In this note, we compare the main features of the proposed system with its European and US equivalents.Although several important aspects of the Russian scheme have yet to be defined, our initial evaluation is positive.Concerns about the stability of the Russian banking system, however, remain

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