According to Alexander Turbanov, Director General of Deposit Insurance Agency (DIA), DIA has allocated 71 billion rubles for readjustment of Russian problem banks. 6.4 billion rubles out of the above sum are a part of the 200 billion rubles allocated to DIA from the federal budget for expansion of its functions (alongside with the deposit insurance function DIA got the powers for readjustment of the problem banks). The money came to DIA account at the end of November, 2008.

A part of 71 billion rubles was provided to investors as credits, and another part is intended for repayment of assets. The temporarily free assets are placed in credit and financial establishments as short deposits. Besides, DIA buys the banks’ promissory notes. Mr. Turbanov specified, that DIA had already started placing a part of the allocations in banks. The criteria for selection of the banks will be their financial stability, capital and other requirements established by the agency.