Insured deposits include RMB deposits and foreign currency deposits absorbed by insurance institutions, excluding bank wealth management products. Therefore, both principal-guaranteed wealth management products and non-principal-guaranteed wealth management products are not covered by deposit insurance; In the future, there will be more clear laws and regulations on the legal definition of bank wealth management products and related bankruptcy liquidation.

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The advantages of deposit insurance system are:

1. Define the amount of compensation for depositors in case of bank failure, and stabilize the confidence of depositors;

2. Establish specialized agencies to deal with problematic banks quickly and effectively in a clear way and save disposal costs;

3. Accumulate funds in advance to pay depositors and dispose of banks;

4. Strengthen the market restraint of the banking system and clarify the responsibilities of all parties when the bank fails.

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