The authorities changed the order of the reserve funds for social insurance

The authorities changed the order of the reserve funds for social insurance


The new rules will increase the stability of the financial operations of the social insurance Fund and will support the liquidity of the banking sector, according to the government.

MOSCOW, 27 Jan. The government has amended the rules of formation, placing and an expenditure of reserve funds for compulsory social insurance against accidents at work and occupational diseases, follows from the decision on the website of the Cabinet of Ministers.

The document establishes additional requirements to credit organizations, Bank deposits which can accommodate the security reserve of the social insurance Fund. According to the new edition of the rules, the minimum amount of own funds of the credit institution, calculated according to the method of the CBR, as at last reporting date increased to 25 billion with 10 billion rubles.

This preserves the requirement that a finding of a credit organization under the direct or indirect control of the Bank of Russia or the Russian Federation.

In addition, funds in the insurance reserve may be placed in credit institutions in respect of which or in respect of persons under control or material care of which are credit institutions, there are international sanctions. The list of these lenders is determined by a separate decision of the government.

The government notes that the implementation of the new rules will enhance the resilience of the financial operations of the social insurance Fund and the liquidity of the banking sector.

“The amendments are intended to establish additional requirements to credit organizations, to minimize the risk of placing funds in the insurance reserve that will help preserve the insurance reserve, increase its profitability and ensuring return of allocated funds”, — stated in the help document.