In 2022, in accordance with the arrangements and requirements of the State Council, the People’s Bank of China (PBOC) and the Deposit Insurance Fund Management Company performed their duties conscientiously to move further ahead with the implementation of the deposit insurance system in a solid and effective manner. Operating stably and smoothly, the system continued to provide substantial protection for depositors, with risk-based premium assessments and functions such as early correction and risk resolution coming into play progressively.
As of end-2022, a total of 3998 deposit-taking banking financial institutions across the country joined the deposit insurance scheme as required. In 2022, the premium income, interest income, and funding support transferred back when expiring registered RMB48.727 billion, RMB988 million, and RMB276 million, respectively.
To advance the defusing of financial risks, RMB36.856 billion from the Deposit Insurance Fund was used for risk resolutions; RMB3.125 billion was used to purchase equities of financial institutions; RMB30 billion was used to provide special loans for local risk resolutions; RMB21.132 billion was used to repay the financial stability loans from the PBOC. As of end-2022, deposits of the Deposit Insurance Fund recorded an outstanding balance of RMB54.94 billion.
Main Income and Expenses of Deposit Insurance Fund
(RMB100 million)
Items |
Amounts |
Main Income |
|
Premiums |
487.274 |
Interest income |
9.880 |
Funding support transferred back when expiring |
2.756 |
Main Expenses |
|
Risk resolution of Liaoyang Rural Commercial Bank (including Liaoning Taizihe Rural Bank initiated and established by Liaoyang Rural Commercial Bank) |
368.563 |
Special loans for risk resolutions in Liaoning Province |
300.000 |
Acquisition of equities of financial institutions |
31.250 |
Repayment of financial stability loans from PBOC |
211.317 |
