OREANDA-NEW. On September 18, 2007, a regular meeting of the State Corporation  Deposit Insurance Agency (DIA) Board of Directors took place. As reported by the agency's press-service, The Board of Directors reviewed DIA proposals on credit organizations  asset quality improvements. Specifically, these proposals include imposing a distinct liability upon credit organizations employees for distorted statements and implementing actions aimed at preserving banks archives and electronic data bases.

It was recommended that DIA Management Board within 3-month period develop and submit to the Finance Ministry legislative proposals on the above issue. The Board of Directors listened to DIA information about investing Mandatory Deposit Insurance Fund's (DIF) resources during the first six months of 2007 and took it into consideration. During the above period DI Fund's resources were invested in government bonds of the Russian Federation, corporate and regional entities bonds, as well as Russian companies' stocks. By the end of the reported period, DIF asset structure was represented as follows: corporate bonds - 24%; Russian Federation regional entities  bonds   16%; Russian companies  shares - 12%; Federal bonds - 43%; funds in trust management - 4%, cash -1%.

The agency's pursuit of prudent enough investment policy during the first half of 2007 enabled DIA to achieve the results comparable to market indicators level for similar asset classes. Thus, average-weighted yield of DI Fund's resources with respect to accrued earnings during the first six months of 2007 totaled 7.3% per annum.