The board of directors of Russia’s Deposit Insurance Agency (Russian acronym, ASB) decided to cut quarterly deductions in the deposit insurance fund from 0.15% to 0.13%, as of July 1, 2007. The ASB decided that, effective July 1, 2007, quarterly payments to the deposit insurance fund be cut from 0.15% to 0.13%. The agency explained that decision by the sustained growth in capital adequacy of the Deposit Insurance Fund. As of the start of 2007, the fund volume exceeded R41b.
Source: VEDOMOSTI, March 7, 2007
