The Central Bank will increase the ACB loan to the Deposit insurance Fund of 140 billion rubles

Moscow. December 14. The Board of Directors of the Agency for Deposit insurance (DIA) agreed with the proposal of the management Board of the Agency on the appeal to the Bank of Russia to increase in the coming period, limit credit lines for 140 billion rubles, according to a release from DIA.

These funds are needed the Deposit insurance Agency to Finance the reimbursement of deposits to customers of banks deprived of license.

In June 2015 the Deposit insurance Agency had the opportunity to go to the Bank of Russia for loans amounting to 110 billion rubles for a period of 5 years at a reduced rate. This allows the Deposit insurance Agency in case of need as quickly as possible to obtain funds for the payment of refunds on deposits. As of November 25, the Agency selected the 75 billion rubles from the limit of 110 billion roubles.

The head of the DIA Yuri Isaev has announced that the Board of Directors of DIA on 14 December to consider the issue of increasing credit lines by the Central Bank. “We have a forecast of necessary funds for next year. It is clear that this is not really a forecast, we are not able to calculate specific numbers. The fact that we have agreements with the Bank of Russia that this limit will of necessity increase,” – said Isayev.

“How much money we, the Board of Directors on Monday will determine this we will gladly take,” – said the head of state Corporation.

Amount of Fund as at 1 October amounted to 35.8 billion rubles, said in the report on the results of operations of the DIA for 9 months. First loans to replenish the Fund, the DIA was requested on October 8. Now how much funds in the Fund based on past insurance claims and borrowed from the Central Bank’s credit funds, is unknown. The DIA for some time ceased to publish on your site the amount of the Deposit insurance Fund, without explaining the reason for the closure of this information.