Experience in integrating deposit insurance systems in the EU countries

Abstract

The purpose of this article is to critically understand the ongoing integration processes to bring
together national deposit insurance practices in the countries of the European Union (EU) and, on this basis,
to determine the prospects for the development of deposit insurance systems in the countries of the Eurasian
Economic Union (EAEU).
The result of the study was a generalization of the experience of integrating deposit insurance systems in
the EU countries, identifying the goals of each stage of integration. Based on the studied practice of European
countries, the authors propose a phased implementation of the integration of national deposit guarantee systems
in the EAEU countries. As a first and mandatory stage, it is recommended to unify several conditions for deposit
insurance, which will create a unified legal framework for depositors and will contribute to the free movement
of capital throughout the territory of the integration association. The second stage of integration involves the
harmonization of the conditions for participation in compulsory deposit insurance for banks participating in the
system, which will allow the banks of the EAEU countries to bear the same and reasonable financial burden in
connection with deposit insurance. Carrying out the third stage of integration, by analogy with the practice of
integration of the EU countries, can proceed in the direction of creating unified superstructure structures.
The proposals formulated in the article are addressed to the supervisory authorities of the EAEU member
states to determine the main directions for harmonizing national legislation governing the organization of
deposit insurance systems.