The Central Bank was ready to support the insurance funds of small business in all banks

© RIA Novosti / Natalia to Seliverstova in fotobanka the building of the Central Bank of Russia on Neglinnaya street in Moscow. Archival photo<img src="/wp-content/uploads/2017/05/957a5d51d06f83cb0b5a10e17b8ddd41.jpg" alt="The Central Bank was ready to support the insurance funds of small business in all banks" />© RIA Novosti / Natalia to Seliverstova the image Bank

CBR is ready to support the insurance funds small and micro business in all banks and not only banks with the base license, said the head of the regulator Elvira Nabiullina.

Russian banks will be divided into universal banks and the base licence, depending on the size of own means (capital). For banks with a base license to impose restrictions on banking operations will be simplified regulatory requirements by the Central Bank. Initially it was proposed to introduce the insurance funds of small and medium business only in banks with a basic license. However, at the meeting of the working group in the state Duma on Thursday supported the idea of insurance of small and micro business in the amount of 1.4 million rubles in all banks.

«In recent months actively discussed the question of extending the Deposit insurance system for small and medium businesses. You know, we initially fairly reserved attitude towards this issue, however, with the emergence of banks with basic license, we understand how important it is to stabilize their resource base, we went back to the discussion and are now ready to support the initiative and the business community, some banks, Ministry of economic development, which is responsible for the support of small and medium-sized businesses. We are now ready to support this initiative, we will have to discuss it», — said the head of the Central Bank, speaking at the meeting of Association «Russia».

«We initially had an offer that this insurance shall extend only to banks with a basic license. Now we believe it is more correct from the point of view of equal conditions of competition… to extend this insurance to all banks», — said Nabiullina.

Deputy Finance Minister of Russia Alexei Moiseev said on Thursday that if the concept of insurance funds small and micro business in all the banks in the amount of 1.4 million rubles will be supported, then such insurance may earn in the beginning of 2018.

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