21st October 2013

Deposit insurance system can be extended in the accounts of individual entrepreneurs: amendments to the Law "On insurance of deposits of physical persons in banks of the Russian Federation" was initiated by the Ombudsman for the protection of the rights of businessmen Boris Titov and the Ombudsman for the protection of the rights of entrepreneurs in the sphere of banking services Mikhail Mamuta

Analysis of complaints of individual entrepreneurs revealed that in the recent was increasing in complaints about loss of money due to the bankruptcy of the banks in which the PI were open accounts for their business activities. The authors of the amendments emphasize that this is a serious problem because often in the case of bankruptcy of a bank's individual entrepreneurs loses the ability to continue its activities and remain without a source of income for themselves and their family, and cannot pay salaries to employees. Explanatory note to the document States shows that only in three months 2013, according to the Ministry of economic development, almost 300 thousand FE said of their activities stop, and therefore we need additional measures to protect their interests.

According to the degree of their awareness in the banking system and, in particular, the ability to assess the reliability of those or other credit organizations, individual entrepreneurs are not different from much of the individuals, - said Mikhail Mamuta. In this regard the logical step is the dissemination of the protection afforded by the insurance of individuals' deposits on funds in Bank deposits (accounts) of individual entrepreneurs.

 In the text of the amendments it is mentions that the insurance protection is to be right to extend only on Bank deposits (accounts) of individual entrepreneurs opened in the banks participating in the Deposit insurance system. This will protect the majority of entrepreneurs: according to the authors of the initiative the amount of money individual entrepreneurs in the banks included in the system of mandatory insurance of deposits is not more than 0.6 billion rubles.

As for a possible increase in the load on the Deposit insurance system, it will be minimal, consider ombudsmen: the volume of means of individual entrepreneurs does not exceed 1.2% of all deposits of the population (as of March 1, 2013, the figure was 159 billion rubles). The amendment was supported by the participants of the all-party working group of the state Duma to amend the law on insurance, the Agency for Deposit insurance and Bank of Russia.


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