"According to our forecasts, 20 to 40 banks might need our services in 2008-2009," Alexander Turbanov told the paper.
Russia's Central Bank adopted a number of regulations on Wednesday putting into practice amendments to legislation, which were approved earlier by both houses of parliament, aimed at strengthening the stability of the country's banking system.
The law authorizes the agency to transfer control of troubled banks to new investors without the need to revoke their banking licenses until December 31, 2011.
The government has allocated 200 billion rubles ($7.3 billion) of federal budget funds to the deposit insurer as part of the bailout package for struggling Russian banks. Turbanov said on Wednesday his agency expected to receive the funds within the next two weeks.
The Deposit Insurance Agency has already received the first 1 billion rubles ($36.6 million) for the bailout of a St. Petersburg bank, the East-European Finance Corporation.
