In order to establish and standardize the deposit insurance system, protect the legitimate rights and interests of depositors in accordance with the law, timely prevent and resolve financial risks, and maintain financial stability, the Deposit Insurance Regulations are formulated. People's Republic of China (PRC) and the State Council promulgated it on February 17, 2065438 and took effect on May 1 2065438.
Article 7 A deposit insurance fund management institution shall perform the following duties:
To formulate and issue rules related to the performance of duties; Formulate and adjust the deposit insurance rate standard and report it to the State Council for approval; Determine the applicable rates of all insurance institutions; Collect premiums; Managing and using deposit insurance funds; Take early corrective measures and risk disposal measures in accordance with the provisions of these regulations; Timely payment of depositors' insured deposits within the limits stipulated in these regulations; Other duties approved by the State Council. The deposit insurance fund management institution shall be decided by the State Council.