FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 23, 2003 No. 177-FZ

About deposit insurance in banks of the Russian Federation

Accepted by the State Duma of the Russian Federation on November 28, 2003

Approved by Council of the Russian Federation on December 10, 2003

This Federal Law establishes legal, financial and organizational basis of functioning of system of compulsory deposit insurance in banks of the Russian Federation (further - deposit insurance system), competence, procedure for education and the organization activity performing functions on compulsory deposit insurance (Deposit Insurance Agency, further also - the Agency), compensation payment procedure on deposits, governs the relations between banks of the Russian Federation, the Agency, the Central bank of the Russian Federation (Bank of Russia) and executive bodies of the Russian Federation in the sphere of the relations on compulsory deposit insurance in banks.

Chapter 1. General provisions

Article 1. The purposes of this Federal Law and the relation, to them regulated

1. The purposes of this Federal Law are protection of the rights and legitimate interests of investors of banks of the Russian Federation, building confidence in bank system of the Russian Federation and stimulation of attraction of money in bank system of the Russian Federation.

2. This Federal Law governs the relations on creation and functioning of deposit insurance system, forming and use of its cash fund, payments of compensation for deposits in case of approach of insured events, and also the relations arising in connection with implementation of the state control of functioning of deposit insurance system and other relations arising in this sphere.

3. Operation of this Federal Law does not extend to different ways of deposit insurance for ensuring their return and interest payment on them.

4. According to the purposes of this Federal Law features of legal status of participants deposit insurance systems and determinations of essential conditions of compulsory deposit insurance, insured event, payment of insurance premiums and receipt of insurance indemnity on compulsory deposit insurance are installed.

5. The relations arising in connection with creation and functioning of deposit insurance system are regulated by this Federal Law, other Federal Laws, and in the cases provided by this Federal Law - the regulatory legal acts of the Government of the Russian Federation and regulations of the Bank of Russia adopted according to it.

Article 2. The basic concepts used in this Federal Law

In this Federal Law the following basic concepts are used:

1) bank - the credit institution having permission of the Bank of Russia to attraction in deposits of money of physical persons and on the opening and maintaining bank accounts of physical persons issued by the Bank of Russia to banks according to the procedure, established by the Federal Law "About Banks and Banking Activity" (in edition of the Federal Law of February 3, 1996 No. 17-FZ) (further - the Federal Law "About Banks and Banking Activity");

2) contribution - the money in currency of the Russian Federation or foreign currency placed by investors or in their advantage in bank in the territory of the Russian Federation based on bank deposit agreement or bank account agreement including the capitalized (ranked) deposit interest;

3) the register of banks - the list of the banks staying on the registry in deposit insurance system created according to this Federal Law;

4) the investor - the citizen of the Russian Federation, the foreign citizen, the stateless person including performing business activity, the lawyers, notaries and other physical persons who opened bank accounts (deposits) for implementation of the professional activity provided by the Federal Law or the legal entity specified in article 5.1 of this Federal Law the bank deposit agreement or bank account agreement which signed with bank or any of specified persons for benefit of whom the contribution is made and (or) which is the owner of the savings certificate, or person which is the owner of the special account (special deposit) intended for forming and use of fund of capital repairs of the common property in the apartment house opened according to requirements of the Housing code of the Russian Federation (further - the owner of the special account);

5) compensation on contribution (deposits) (further also - insurance indemnity) - the sum of money which is subject to payment to the investor according to this Federal Law in case of loss occurrence;

6) permission of the Bank of Russia - the license for attraction by bank granted by the Bank of Russia in deposits of money of physical persons and on opening and maintaining bank accounts of physical persons according to the procedure, established by the Federal Law "About Banks and Banking Activity";

7) deficit of fund of compulsory deposit insurance - insufficiency of fund of compulsory deposit insurance for implementation of payment of compensation for deposits to the terms established by this Federal Law.

8) demands in reconvention - liabilities of the investor before bank according to civil transactions and (or) other to the stipulated by the legislation bases of the Russian Federation in case of which the investor is debtor of bank.

Article 3. Basic principles of deposit insurance system

The basic principles of deposit insurance system are:

1) obligation of participation of banks in deposit insurance system;

2) reducing risks of approach of adverse effects for investors in case of non-execution of the obligations by banks;

3) transparency of activities of deposit insurance system;

4) accumulative nature of forming of fund of compulsory deposit insurance at the expense of regular insurance premiums of banks of participants of deposit insurance system.

Article 4. Participants of deposit insurance system

Participants of deposit insurance system are:

1) the investors recognized for the purposes of this Federal Law by beneficiaries;

2) the banks entered in accordance with the established procedure in the register of banks, recognized for the purposes of this Federal Law by insurers;

3) the Agency recognized for the purposes of this Federal Law by the insurer;

4) the Bank of Russia when implementing of the functions following from this Federal Law by it.

Article 5. Deposits which insurance is performed according to this Federal Law

1. According to this Federal Law deposits (including the deposits certified by savings certificates) according to the procedure, the sizes and on conditions which are established by Chapter 2 of this Federal Law, except for the money specified in part 2 of this Article are subject to insurance.

2. According to this Federal Law money is not subject to insurance:

1) ceased to be valid according to the Federal Law of the Russian Federation of 25.12.2023 No. 655-FZ

2) placed in bank deposits which introduction is certified by deposit certificates;

3) delivered to banks in trust management;

4) placed in deposits in the branches of banks of the Russian Federation which are outside the territory of the Russian Federation;

5) being electronic money;

6) placed on nominal accounts, except for separate nominal accounts which are opened for guardians or custodians and beneficiaries on which wards, pledged accounts and escrow accounts are if other is not established by this Federal Law;

7) placed in subordinated deposits;

8) placed by legal entities or in their advantage, except for money:

a) placed by the legal entities specified in article 5.1 of this Federal Law or in their advantage;

b) placed on special accounts (special deposits) intended for forming and use of fund of capital repairs of the common property in the apartment house opened according to requirements of the Housing code of the Russian Federation (further - the special account (special deposit) intended for forming and use of fund of capital repairs of common property in the apartment house);

9) placed on public deposit accounts;

10) placed by foreign agents (except for physical persons, including individual entrepreneurs), data on which contain in the register of foreign agents which maintaining is performed according to the Federal Law of July 14, 2022 No. 255-FZ "About control of activities of persons which are under foreign influence" or in their advantage;

11) placed on bank accounts (in deposits) the physical persons rendering professional services in the financial market according to the Federal Law of July 10, 2002 to No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (further - the Federal Law "About the Central Bank Russian Federation (Bank of Russia)").

3. Deposit insurance is performed owing to this Federal Law and does not require the conclusion of the insurance contract.

Article 5.1. Deposits of legal entities which insurance is performed according to this Federal Law

The deposits placed by the following legal entities, data on whom contain in the Unified State Register of Legal Entities, or in their advantage, are subject to insurance according to this Federal Law:

1) legal entities, data on whom contain in the unified register of subjects of small and medium business which maintaining is performed according to the Federal Law of July 24, 2007 No. 209-FZ "About development of small and medium business in the Russian Federation", except for of persons which are the credit institutions and not credit financial credit institutions or persons rendering professional services in the financial market according to the Federal Law "About the Central Bank Russian Federation (Bank of Russia)" (further - the unified register of subjects of small and medium business);

2) non-profit organizations which are effective in one of the following forms of business:

a) partnerships of owners of the real estate;

b) consumer cooperatives, except for persons recognized according to the Federal Law "About the Central Bank Russian Federation (Bank of Russia)" not credit financial credit institutions;

c) the Cossack societies entered in the state register of the Cossack societies in the Russian Federation;

d) communities of indigenous ethnic groups of the Russian Federation;

e) religious organizations;

e) charity foundations;

g) the public organizations which are labor unions (the trade-union organizations);

3) non-profit organizations - contractors of socially useful services and socially oriented non-profit organizations, data on which contain in the register of non-profit organizations - contractors of socially useful services or in the register of socially oriented non-profit organizations which maintaining is performed by federal executive bodies in accordance with the legislation of the Russian Federation, except for persons recognized according to the Federal Law "About the Central Bank Russian Federation (Bank of Russia)" not credit financial credit institutions.

Article 6. Participation of banks in deposit insurance system

1. Participation in deposit insurance system according to this Federal Law is obligatory for all banks.

2. The bank is considered the participant of deposit insurance system from the date of its registration about day of its removal from accounting in deposit insurance system according to article 28 of this Federal Law.

3. Banks shall:

1) to pay insurance premiums to fund of compulsory deposit insurance (further - insurance premiums);

2) to provide to investors information on the participation in deposit insurance system, on procedure and the amount of receipt of compensation on deposits;

3) to post information on deposit insurance system on the website on the Internet and in premises of bank, available to investors, in which servicing of investors is performed;

4) to keep daily account of obligations of bank to investors and necessary for determination of the amount of compensation on deposits of demands in reconvention of bank to the investor, providing readiness of bank to create in case of loss occurrence, and also for any day upon the demand of the Bank of Russia (within five working days from the date of receipt in bank of the specified requirement) the register of obligations of bank to investors according to the procedure and in form which are established by the Bank of Russia according to the offer of the Agency. Reflection of information on money of investors in created by bank, including with use of the automated bank systems, databases of bank shall provide possibility of determination for any day of the money which is subject to insurance and money which are not subject to insurance according to article 5 of this Federal Law considered on the same balance sheet accounts, possibility of determination for any day of availability and the sizes of the deposits placed in bank with use of financial platform, and also possibility of determination for any day of the sizes of balances in cash on the joint accounts which are due to each of owners of the joint account proceeding from its share in the rights to the money which is on such account;

4. 1) to provide maintenance in urgent condition of information about investors - the legal entities specified in article 5.1 of this Federal Law and who signed bank deposit agreement or bank account agreement with bank including to perform reconciliation of information about such investors containing in the registers specified in article 5.1 of this Federal Law;

5) to fulfill other duties provided by this Federal Law.

Chapter 2. Procedure and conditions of payment of compensation on deposits

Article 7. Rights of investors

1. Investors have the right:

1) to receive compensation on deposits according to the procedure, established by this Federal Law;

To report 2) in the Agency about the delay facts bank of obligation fulfillment on deposits;

To receive 3) from bank in which they place contribution, and from the Agency information on participation of bank in deposit insurance system, on procedure and the amount of receipt of compensation on deposits.

2. The investor who received compensation on the deposits placed in bank concerning which there came the insured event keeps right to claim against this bank on the amount determined as difference between the size of requirements of the investor to this bank and the amount of compensation paid to it by deposits in this bank. The satisfaction of such right to claim of the investor against bank is performed according to the civil legislation of the Russian Federation.

3. In case of the conclusion of bank deposit agreement (bank account agreement) for benefit of the third party of the right of the investor, provided by this Federal Law, acquires person for benefit of whom such contribution is made (the bank account is opened) if the specified person can be recognized as the investor according to article 2 of this Federal Law.

4. Under the agreement of the nominal account of the right of the investor, provided by this Federal Law, acquires the physical person which is the beneficiary of this account.

Article 8. Insured event

1. For the purposes of this Federal Law insured event one of the following circumstances is recognized:

1) response (cancellation) at bank of the license of the Bank of Russia for banking operations (further - the license of the Bank of Russia) according to the Federal Law "About Banks and Banking Activity" if the plan of participation of the Bank of Russia or Agency in settlement of obligations of bank according to the Federal Law of October 26, 2002 No. 127-FZ "About insolvency (bankruptcy)" (further - the Federal Law "About Insolvency (Bankruptcy)" is not realized;

2) introduction by the Bank of Russia in accordance with the legislation of the Russian Federation moratorium on satisfaction of requirements of creditors of bank.

2. The insured event is considered come from the date of response (cancellation) at bank of the license of the Bank of Russia or from the date of introduction of the moratorium on satisfaction of requirements of creditors of bank.

Article 9. Emergence of the right of the investor to compensation on deposits

1. The right to claim of the investor on compensation on contribution (deposits) arises from the date of loss occurrence.

2. The right to claim of the investor - the legal entity specified in article 5.1 of this Federal Law on compensation on contribution (deposits) arises from the date of loss occurrence on condition of availability of information about such person in the corresponding register specified in article 5.1 of this Federal Law on the date of loss occurrence. Change of the status of the legal entity specified in article 5.1 of this Federal Law, including change of form of business or type of activity, and also exception of the specified legal entity from the corresponding register after day of loss occurrence does not attract the termination of the right of the investor to compensation on contribution (deposits).

2.1. The exception of the foreign agent specified in Item 10 of part 2 of article 5 of this Federal Law of the register of foreign agents after day of loss occurrence does not attract origin at such foreign agent of the right to compensation on contribution (deposits) according to this Federal Law.

3. Person who acquired at the investor the right to claim on contribution (deposits) after loss occurrence or right to claim against the Agency about payment of insurance indemnity has no right to compensation on such contribution (deposits), except for the physical person or the legal entity specified in article 5.1 of this Federal Law, which acquired according to the procedure of inheritance the right to claim on contribution (share in the joint account) on which compensation payment to the investor was not made (further - the heir) and also the legal entity specified in article 5.1 of this Federal Law which acquired as a result of reorganization the right to claim on contribution on which compensation payment to the investor was not made (further - the legal successor). The heir has the right to use the rights of the died investor - physical person, provided by this Federal Law, from the moment of issue to the heir of the appropriate certificate about the right to inheritance or other document confirming its right to inheritance or right to use of money of the testator.

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