Deposit insurance system as a guarantee of stable bank operations
Subject The article considers the history of the Russian deposit insurance system, its current state, and compares it with similar foreign institutions. Objectives The study aims to review pros and cons of Russian deposit insurance system's functioning, its future prospects, and to analyze relevant laws and regulations serving as a framework for the organization of the system's operations. Methods The study employs legal and economic methods of research, like comparative, technical, formal, statistical, sociological, and other methods and techniques. Results I reviewed the future prospects of the Russian deposit insurance system development, in particular, the transformation of Deposit Insurance Agency into a mega-insurer due to broadening of powers provided by law. This will play a positive role not only for the entire banking system of the country, but also for some of its entities, for instance, the Bank of Russia (a sort of relief, enabling the mega-regulator to focus on other issues). Conclusions The identified strengths and weaknesses of the Russian deposit insurance system and its comparison with similar foreign institutions may help adjust the current scheme of the system's operations.