On deposit insurance and banking bankruptcies

With the emergence of a 2-tiered banking system in Russia, the creation of a deposit insurance system (DIS) has become the next question on the agenda. The press have been actively discussing this question for at least the past 3 years; the relevant resolutions and instructions have been issued. Non...

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Bibliographic Details
Published in:Emerging markets finance & trade 1997-07, Vol.33 (4), p.78
Main Author: A Iu Simanovskii
Format: Article
Language:English
Subjects:
Bad debts
Bank deposits
Banking industry
Bankruptcy
Compensation
Deposit insurance
Insurance agencies
Legislation
Studies
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Summary:With the emergence of a 2-tiered banking system in Russia, the creation of a deposit insurance system (DIS) has become the next question on the agenda. The press have been actively discussing this question for at least the past 3 years; the relevant resolutions and instructions have been issued. Nonetheless, the draft Law On the Mandatory Insurance of Citizens' Bank Deposits, adopted by the State Duma on November 24, 1995, has provoked an unambiguous reaction from interested parties and experts. Criticism has basically centered on the following aspects: the creation of a DIS as a whole, conceptual approaches to the organization of a DIS, and specific criticisms leveled at particular organizational or editorial points of the draft law. The criticisms are discussed.
ISSN:1540-496X
1558-0938