Meeting of the Expert Group on Harmonization of Legislation Held in Minsk on May 22-23, 2024

As part of the activities of the Expert Group on harmonization of legislation in the field of insurance (guaranteeing) of bank deposits, liquidation, resolution and bankruptcy of credit institutions in the Eurasian Economic Union under the Advisory Committee on Financial Markets of the Eurasian Economic Commission (hereinafter – the Expert Group), a meeting of representatives of the EAEU member states was held on May 22-23, 2024, in Minsk, Republic of Belarus. The event was organized by the Agency of Deposit Compensation of the Republic of Belarus. The meeting was attended by representatives of the Eurasian Economic Commission, deposit insurers, and financial regulators of the EAEU member states.

During the meeting, a discussion was held on the issues of harmonization of legislation of the member states in the field of banking deposit insurance, integration processes within the EAEU, and the formation of a common financial market. Specifically, the following topics were discussed: governing bodies of deposit insurers; objects and subjects of insurance; the coverage limits and making payouts in the currency of the deposit; the right of claim of the deposit insurer against a bank in liquidation (recovery of funds); bringing to liability persons involved in a bank’s bankruptcy and the role of the deposit insurer in this process.

The meeting was held in person, as well as via videoconference.