In 2019, in accordance with the arrangements and requirements of the State Council, the PBC faithfully performed the functions of office, and continued to achieve solid progress in the institutional arrangements of deposit insurance scheme. The whole system operated smoothly, with continued high level of protection for depositors. Risk-based premiums, early correction, risk disposal and other functions are gradually playing important roles.
By end-2019, a total of 4029 banking financial institutions nationwide that take deposits have covered insurance as required. According to Regulations of Deposit Insurance, insured institutions pay the premiums every six months. In 2019, the premiums collected under the special account of Deposit Insurance Fund (DIF) registered RMB38.36 billion. By December 31, 2019, the DIF balance of principal and interest stood at RMB121.58 billion.
Income and Expenditure Account of Deposit Insurance Fund
Unit: RMB
Items |
Year 2019 |
Year 2018 |
1.Opening balance |
82,120,960,029.29 |
48,028,296,851.42 |
2.Current year cumulative amount |
39,458,010,436.88 |
34,092,663,177.87 |
Premiums |
38,360,230,224.12 |
32,990,303,169.18 |
Late fees |
221,401.95 |
1,143,963.39 |
Interest incomes |
1,094,830,695.69 |
1,101,158,663.71 |
Temporary receipts |
2,728,115.12 |
57,381.59 |
3.Current year expenditure |
- |
- |
4.Closing balance |
121,578,970,466.17 |
82,120,960,029.29 |
