An evaluation of draft legislation on Russian depposit insurance
Fantini, Marco (21.01.2003)
Numero
2003/1Julkaisija
Suomen PankkiBank of Finland
2003
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-2014080838Tiivistelmä
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