Deposit Guarantee Fund

[index.html] About Deposit Guarantee Fund .................................................................................... In 1998, the President of Ukraine signed the Decree СOn Measures to Protect the Rights of Physical Persons as Depositors of Commercial Banks in UkraineТ which approved the establishment of the Deposit Guarantee Fund and procedures regulating the use of the FundТs resources. On September 20 2001, the Verkhovna Rada (Parliament of Ukraine) approved the Law СOn Deposit Guarantee FundТ, which took effect on October 24, 2001. †† †††††† Law of Ukraine УOn Deposit Insurance FundФ No. 2740-III of September 29, 2001. †† The Fund is a specialised government institution of public administration in the deposit guarantee sphere. The main objective of the Fund is protecting the rights of individual depositors (natural persons) to the national banks of Ukraine and the branches of foreign/international banks in Ukraine. †† †††††††† The Administration Board is the governing body of the Fund. †† The Fund reimburses for deposits to the Fund member/temporary member banks in UAH or foreign currencies of a value no higher than UAH 150,000 per individual depositor to every member bank, or the branch of an international/foreign bank in Ukraine from the date of the deposit inaccessibility. No deposit of a value under UAH 1 may be reimbursed. †† †††††††† The Administration Board may extend the compensation by a special decision. †† †††††††† The depositors are entitled to reimbursement in UAH at the FundТs cost from the date of deposit inaccessibility. †† Deposit inaccessibility is the depositorТs inability to receive the deposit as specified in the deposit agreement from the date of the appointment of the liquidator of the Fund member/temporary member bank. †† The Fund members are national banks and branches of international/foreign banks in Ukraine duly licensed and certified as Fund members. УVAT Derzhavniy Oschadniy Bank UkrainyФ (the National Savings Bank of Ukraine) is not a member of the Fund. †† †††††††† The Fund members hold the membership certificate. †† In the case of a memberТs failure to adhere to the Law of Ukraine УOn the Deposit Insurance FundФ, the bank (the branch of an international/foreign bank in Ukraine) is transferred to the Сtemporary memberТ group and receives the temporary membership certificate. ††††††††††† The Fund temporary members hold the temporary membership certificate. †† The Fund does not reimburse for the deposits in a bank (the branch of an international/foreign bank) with the temporary membership funded after the bank acquired the temporary membership status. †† Following the bankТs transfer to the Сtemporary memberТ group, the bank shall inform potential depositors in writing, when signing a deposit agreement, that the Fund does not guarantee their deposits. .................................................................................... Deposit Value Guaranteed Deposit Value Guaranteed: up to UAH 150,000, including principal and interest Participants the Fund Register contains 169 participants and 6 temporary participants Depositors subject to repayment the Fund repays to the depositors to the following banks: PJS Company УPAT CB VolodymyrskyiФ LL УDialogbankФ PJS Company УPAT AB SyntezФ PJS Company УPAT ZemelТniy BankФ OJS Company УVAT KB IpobankФ OJS Company УVAT SelansТkiy Komertsiniy Bank DnisterФ OJS Company УBIG ENERGY BANKФ JS Commercial Bank УAKB TransbankФ LL Commercial Bank УTOV KB ARMA BankФ Ukrainian Industrial Bank Ltd Commercial Bank УUkrainian Financial GroupФ JS Commercial Bank УEast-European BankФ JS Bank of the Regional Development (BRD) OJS Company УVAT KB NatsionalТnuy StandardФ (Bank National Standards) JS Commercial Bank УAKB EvropeisТkiyФ (European JSCB) OJS Commercial Bank УAKB Odessa BankФ OJS Commercial Bank УPrychernomorТyaФ Links National bank of Ukraine Association of Ukrainian Banks International Association of Deposit Insurers European Forum of Deposit Insurers www.fg.gov.ua