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Comparative Analysis of the Depositor Rights’ Protection Systems in the Russian Federation and the Republic of Belarus

Authors:

Olesya V. Kononenko and Marina V. Chudinovskikh

Abstract:

The research aims to develop recommendations on improving the depositor protection system on the basis of a comparative research of regulations, statistics of banking sectors in the Russian Federa‑ tion and the Republic of Belarus. Methodologically the research relies on theoretical propositions of the public finance theory. At the first stage of the research, the authors studied the regulations that form a legal basis of the deposit insurance system in the Russian Federation and the Republic of Belarus. The second stage involved the analysis of statistical data of the Central Bank of Russia and Deposit Insurance Agency to investigate the possibility to increase insurance coverage in the Russian Federation to the level guaranteed by the Belorussian regulations. At the third stage, the authors put forward suggestions about improvement of banking regulations in Russia, and considered possibilities of increasing insurance cov‑ erage, covering the deposits of legal entities, and guaranteeing reimbursement of deposits on the basis of alternative insurance mechanisms. Theoretical and practical significance of the research lies in the field of justifying legislative initiatives that target the improvement of depositor rights’ protection and harmo‑ nization of banking activities in the Russian Federation and the Republic of Belarus.

Keywords: bank; deposit insurance; protection; rights; depositors; bail-in

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For citation: Kononenko O.V., Chudinovskikh M.V. Sravnitel'nyy analiz sistemy zashchity prav vkladchikov v Rossi‑ yskoy Federatsii i Respublike Belarus' [Comparative analysis of the depositor rights’ protection systems in the Russian Federation and the Republic of Belarus]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2018, vol. 19, no. 5, pp. 32–43. DOI: 10.29141/2073-1019-2018-19-5-3