How to compensate after the bank fails?
In view of how to deal with bank bankruptcy, according to the relevant provisions of China's Deposit Insurance Conditions, users can get full compensation when the deposit plus interest in personal accounts is less than 500,000 yuan. When the amount exceeds 500,000 yuan, the excess needs to be taken over by the bankrupt bank, and the depositors can be compensated according to a certain proportion according to the actual situation after the asset liquidation is completed.
For every sum of money we deposit in the bank, the bank will pay the corresponding premium to the deposit insurance fund. Once the risk of deposit products occurs, the deposit insurance fund will be responsible for the bottom, or the deposit insurance fund will entrust other banks to cover the bottom. China deposit insurance fund management institution is a deposit insurance fund management limited liability company established solely by the central bank with a registered capital of RMB 654.38+0.8 billion.
Deposits are guaranteed by the Deposit Insurance Regulations, and structured deposits such as demand deposits, time deposits and certificates of deposit do not pay interest.
Those who are not protected by the deposit system are: 1. Overseas branches of insurance institutions and branches of foreign banks in China; 2. Interbank deposits of financial institutions; Three. Deposits of senior managers of insurance institutions; 4 other deposits that are not guaranteed by laws and regulations.
In addition, wealth management products are not within the scope of the Deposit Insurance Ordinance. The wealth management products issued by banks can be terminated in advance and the principal and interest can be liquidated. As for the wealth management products on consignment, depositors can directly find the issuer.
By this time last year, the list of insured financial institutions had reached 4025, and it can be said that most banks were insured. If the depositor is afraid that the bank is not insured, he can ask the staff to make sure that the bank is insured for re-deposit, otherwise it will not be protected by the Deposit Insurance Regulations.
According to public information, as of the end of 20 18, the balance of the special account of the deposit insurance fund was 82 1.2 billion yuan, which has never been spent or used since the implementation of the system.