Insurance compensation on deposits in some cases will increase to 10 million rubles

The state Duma adopted in the second reading a bill that increases the maximum size of insurance compensation under contributions of physical persons in some cases up to 10 million rubles. Now the insurance indemnity in such amount is valid only for the funds in the escrow accounts opened for the sale of real property, and for payments under contracts of participatory construction.

After the bill is passed, investors will be able to count on increased insurance compensation if their accounts were funds from the sale of property, inheritance, social benefits or subsidies, insurance payments for damages to life, health and property, the payment of the enforcement of court decisions. In these cases, citizens can expect to recover up to 10 million rubles, but only if the Bank was revoked a license or imposed a moratorium on the payment of the Deposit within three months from the date of receipt of money resources into the account.

In addition, the payment of the insurance indemnity in the amount of 10 million rubles will be distributed to the accounts and deposits for capital repairs of apartment buildings.

The bill also provides for the inclusion of the number of insured accounts and deposits of private non-profit organizations with the reimbursement amount to 1.4 million rubles. Such nonprofit organizations include horticultural and gardening non-commercial partnerships, partnerships of homeowners, garage and garage-building cooperatives, housing and housing construction cooperatives, charities, Cossack communities, communities of indigenous small peoples of the Russian Federation, religious organizations and organizations providing public benefit services.

Changes in legislation will also enable the Agency on insurance of contributions (ASV) to more quickly enact the decision to reduce the rates of insurance premiums, which are paid by banks to the Deposit insurance system, including new rates could be introduced for the last quarter.

In addition, the amendments change the criteria for appointment of banks higher insurance premiums when the interest rates on deposits higher than the base level of profitability of deposits for foreign currency deposits and savings certificates without the right to receive the contribution on demand.

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