The Federal Law protects the interests of individuals (including non-corporate entrepreneurs) residing on the territory of the Republic of Crimea and in Sevastopol and holding deposits at banks and their structural subdivisions registered and operating on the territory of the Republic of Crimea and Sevastopol.
To implement the Federal Law, the Deposit Insurance Agency state corporation is creating an autonomous non-profit organisation Depositor Protection Fund, which is authorised to make compensation payments to depositors by acquiring their deposit rights.