07 November 2012, Wednesday, 14:30
author: Alfiya Sharafutdinova
The draft law of the Ministry of Finance of Russia on increase in the maximum size of insurance compensation for deposits is published for public consultations. Its authors suggest increasing the limiting amount of insurance compensation fr om present 700 thousand roubles to one million roubles.
The Ministry of Finance reminds that the current compensation lim it was established in 2008 and for the last years a number of factors testifying to necessity of amendments were generated. First of all it is the accumulated inflation and growth of incomes of the population.
“According to preliminary estimates, by the end of 2012 deposits compensation in the equivalent to the date of October 1, 2008, will make about 500 thousand roubles. Thus the sum is devaluated almost by 30 percent,” it is said in the explanatory note to the document.
Concerning nominal incomes of the population the Ministry of Finance marks their 50 percent growth for the last four years that «leads to gradual integration of contributions». Meanwhile in the banking sphere the given law calls ambiguous reaction.
On the one hand this measure, certainly, allows to raise degree of trust of the population to banking deposits. On the other hand, the previous radical increase in 2008 from 300 thousand roubles to 700 thousand was caused by increasing tightness in the society, in the banking system and the serious crisis phenomena. Now the situation is quieter, however the level increase as interrogations have shown already, automatically raise crisis expectations among the population.
Nevertheless, large banks optimistically take the given initiative of the Ministry of Finance.
The Savings Bank of Russia welcomes increase of insurance coverage for population deposits, the press centre of the Ural Bank for the Savings Bank of Russia informs.
The regional "Promtransbank" adheres to the same opinion:
“The increase in the sum of insurance coverage reflects both growth of well-being of Russians, and readiness of the state to increase the civil responsibility regarding the control and regulation of the banking sphere,” the bank press-service marks.
The draft law text is placed on the website of the Ministry of Economic Development of Russia and will be open to discussion till November 12.