A special recording procedure for certain securities will be in effect until the end of 2025
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04.12.2024
DEPOSIT INSURANCE: THE STATUS OF FUNDS IN TRANSIT CURRENCY ACCOUNTS HAS BEEN CLARIFIED
Funds placed in the bank on the basis of a bank deposit agreement or account are subject to insurance in the deposit insurance system.
A transit currency account is opened by the bank simultaneously with a current currency account in compliance with regulatory requirements without taking into account the client’s will to identify foreign currency receipts in favour of residents and for the purpose of recording for currency transactions. Such a currency account is not a bank account.
Thus, funds located in transit currency accounts are not subject to insurance protection. They are not included in form 0409345 "Data on Daily Balances of Insured Funds Placed in Deposits". The specified funds become insured from the moment they are credited to the current currency account.
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