The deposit will be credited for the deposit – Newspaper Kommersant No. 27 (7472) dated February 14, 2023
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In the near future, a bill will be considered in the first reading, which can significantly simplify the settlements of citizens with banks that have lost their licenses. Depositors who have taken a loan from such a bank will be able, without waiting for its repayment, to receive deposit insurance from the DIA. And between the mutual requirements of the bank and the client on a loan and a deposit, offsetting can be made. Both of these actions are now prohibited by law.
The Financial Committee of the State Duma approved a new version of the text billaimed at improving the system of compulsory deposit insurance. The document, in particular, provides for the payment of compensation to depositors without taking into account the bank’s counterclaims to them.
As stated in the explanatory note, today an individual who simultaneously has a deposit and a debt on a loan to a bank in which an insured event occurred, receives compensation within the limit only after repaying the entire debt. “These changes … will help increase the protection of the interests of depositors and borrowers, allowing them, in the event of an insured event, to use the funds received as compensation to pay off obligations to the bank, including ahead of schedule,” the explanatory note says.
The Deposit Insurance Agency (DIA) explained that if the bill is adopted, this will primarily increase the protection of the interests of depositors.
“Even if a citizen has a bank loan, he will be able to receive his funds from the deposit in the form of insurance compensation from the first day of payments,” they noted. Anatoly Aksakov, head of the State Duma committee on the financial market, considers the likelihood of the bill passing in the first reading “very high”.
According to the DIA, in 2019-2022, more than 320,000 depositors were paid insurance compensation in the amount of more than 130 billion rubles. During the same period, licenses were revoked from 61 banks. In 2023, experts expect about ten license revocations from banks.
At the same time, the draft law proposes to remove the ban on the repayment of bank claims against individual depositors by offsetting counterclaims in the event of bank bankruptcy. Now this offset is not possible in the course of bankruptcy proceedings. The cancellation of the ban will ensure the repayment of the depositor’s debt on obligations to the bank, regardless of the period of their occurrence, in the amount exceeding the limit of insurance compensation provided for by law (1.4 million rubles in general), follows from the explanatory note. By the beginning of insurance payments, liquidated banks have counterclaims for about 5% of depositors included in the liability registers, follows from the DIA data.
There were “millions of attempts” to circumvent the ban on offsetting claims as part of the bankruptcy of credit institutions, but the courts always harshly suppress them, says Dmitry Dedov, senior adviser at INGVARR. In his opinion, the bill makes an exception in the very obvious case when it is necessary. “The bank issues a loan to the client, who in turn keeps his funds with him, homogeneous requirements, risks and nature of the relationship arise: the client uses the bank’s money, and the bank uses the client’s money, and this conceptual exception can be extended only to this pair,”— explains the lawyer.
Elena Gladysheva, managing partner of RI-consulting Moscow Bank, believes that the adoption of the law in its current version will significantly simplify the procedure for insurance compensation and speed up payments to depositors who have counterclaims from banks.
“Such an approach will not restrict other creditors of the bank, the procedure for accounting for counterclaims for which will remain the same, and is designed to protect the rights and legitimate interests of individuals who are initially the “weak” party in such legal relations,” she says. However, this does not exclude cases in which unscrupulous borrowers, having received insurance compensation and withdrawing funds from their bank account, will refuse to voluntarily repay counterclaims, which will lead to their unjust enrichment, the expert clarifies.
The paragraphs of the document relating to the offset of deposits and loans to individuals will come into force 270 days after the adoption of the law. Thus, these norms will most likely be able to really work only next year.
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