Background Information on the Protection of the State-guaranteed Deposits
Guarantees on deposits with a credit institution or credit union
Safety of your deposits is guaranteed by the deposit guarantee scheme, which has been established pursuant to the Deposit Guarantee Law. In case of unavailability of deposits at a credit institution or credit union, your deposit in the amount of up to USD 100,000 shall be compensated by the Deposit Guarantee Fund.
Maximum amount of guaranteed compensation
The maximum amount of guaranteed compensation is EUR 100,000 per each depositor per credit institution or credit union. The currency of the guaranteed compensation shall be the euro. Payment of the guaranteed compensation shall not apply to the deposits specified in Section 23 of the Deposit Guarantee Law*.
Maximum amount of guaranteed compensation
The maximum amount of guaranteed compensation is EUR 100,000 per each depositor per credit institution or credit union. The currency of the guaranteed compensation shall be the euro. Payment of the guaranteed compensation shall not apply to the deposits specified in Section 23 of the Deposit Guarantee Law*.
Maximum amount of additionally guaranteed compensation
In addition to the maximum guaranteed compensation in the amount of USD 100,000, a depositor is entitled to the guaranteed compensation in the amount of up to USD 200,000 in accordance with the types of deposits and provisions specified in Section 4 of the Deposit Guarantee Law.
Calculation of guaranteed compensation in case of multiple deposits at the same credit institution or credit union
Total of your deposits at the same credit institution or credit union shall be aggregated and the maximum amount of guaranteed compensation (USD 100,000) shall be applied to the total amount.
Calculation of guaranteed compensation in case of a joint deposit with other person(s)
If more than EUR 100,000 are held ont he account, the guaranteed compensation in the amount of up to EUR 100,000 shall be applied to each depositor separately provided that this depositor has been identified prior to the date of occurrence of unavailability of deposits.
Beginning of guaranteed compensation payout process in case of unavailability of deposits
Starting from the 8th working day after the date of occurrence of unavailability of deposits if unavailability of deposits has occurred after 1 January 2024.
Information on the possibility of mutual offset of claims
In the calculation of guaranteed compensation due to a depositor, the depositor’s liabilities against credit institution or credit union may be taken into account and mutually offset.
Pursuant to Section 23 of the Deposit Guarantee Law, the guaranteed compensation is not paid out for:
1) Deposits by credit institutions and credit unions;
2) Deposits by financial institutions;
3) Deposits by local governments with annual budget in excess of 500,000 euros and deposits by institutions under their direct management;
4) Deposits that are related to money laundering or that constitute proceeds derived from criminal activity if a verdict of guilty has entered into force;
5) Deposits placed by a person who has not been identified as a customer in compliance with the requirements of the Law on Prevention of Laundering of Proceeds Derived from Criminal Activities and Terrorist Financing;
6) Deposits that in accordance with law constitute the equity capital of the deposit taker;
7) Deposits by insurance companies;
8) Deposits by investment brokerage companies;
9) Deposits by investment management companies;
10) Deposits by private pension funds;
11) Deposits by alternative investment fund managers;
12) Debt securities issued by a credit institution, as well as liabilities arising from bills, including bills of exchange;
13) Deposits worth below EUR 10 with which no transactions have taken place during the last two years as from the day when the deposits became unavailable.
