The DIA will choose the credit limit of the Central Bank of 110 billion rubles for 2-3 months

MOSCOW, October 21. The Agency for Deposit insurance (DIA) will select the entire limit approved by the CBR loan of 110 billion rubles over the next 2-3 months, told reporters Deputy Finance Minister Alexei Moiseev.

“The Board of Directors (the Central Bank of the Russian Federation – approx. ed.) was approved to 110 billion rubles. I think it’s quite realistic that the DIA will choose the money over the next 2-3 months. This is not a forecast of the banks ‘ collapse. This forecast is based on an estimate of payments”, – said Moiseev.

Deputy Finance Minister stressed that payments are not immediately and credit the Central Bank will be selected by the Corporation as payments will be up to the DIA in order to maintain the Fund at a sufficient value in the region of 40 billion roubles.

As previously reported, the Bank of Russia on 8 October provided the Agency for Deposit insurance of the credit of 20 billion rubles to ensure the financial sustainability of the Deposit insurance system. In June, the Board of Directors of DIA approved the possibility of Agency in Bank of Russia on granting loans amounting to 110 billion rubles without collateral for a period of 5 years at a reduced rate.

In agreement with the Bank of Russia ASV uses to Finance payments of insurance compensation at the expense of credits of Bank of Russia, if the size of Fund of obligatory insurance of deposits may fall below 40 billion.

This year, as of October 1, to receive insurance compensation totaling 205 billion requested 400 thousand people.

Regardless of the amount and extent of insurance claims of the DIA ensures that investors will be able to receive insurance benefits on time and in full, is spoken in the message of Agency.