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Duma raises by 42 pct insurance compensation to clients of bankrupt banks

July 05, 2014, 4:20 UTC+3 MOSCOW
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MOSCOW, July 05, /ITAR-TASS/. Russia’s State Duma on Friday voted for a law raising by 42% up to one million roubles (about 29,200 dollars under the current rate of exchange) the maximum insurance compensation to clients of bankrupt banks.

As before, depositors will be entitled to a government-guaranteed compensation of 700,000 roubles (20,500 dollars) from the Deposits Insurance Agency. The other part of the compensation of no more than 300,000 roubles (8,700 dollars) may be paid after the bankruptcy asset has been formed but before sustaining other claims of first priority creditors.

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