Deposit Guarantee Fund for physical entities


Deposit Guarantee Fund for physical entities


The certificate's Fund

Deposit Guarantee  for physical entitties #1

Deposit Guarantee Fund for physical entities was established according to the Decree of the President of Ukraine “On measures to protect the rights of Physical entities as Depositors of Commercial Banks in Ukraine” dated September 10, 1998 number 996/98 in order to protect the interests of depositors – physical entities.

The fund is a specialized government institution of public administration in the sphere of deposit guarantee and bank resolution, which was founded with the purpose of protecting the rights of individual depositors (physical entities) to the banks in Ukraine, according to the Law of Ukraine on February 23, 2012 №4452-VI "On Households Deposit Guarantee System".

According to the decision of the administrative Board of the Fund №27, dated 21 August 2012, registered on 29 August 2012 by the number 1452/21764 at the Ministry of Justice of Ukraine, the Fund guarantees to each depositor of the banks - participants of the Refunds of deposits Fund, including interest at the rate no more than 200 000 (two hundred thousand) UAH (Ukrainian national currency - gryvnas).

Address of the Fund: 
Sichovykh Striltsiv street, 17, Kyiv, Ukraine,04053

e-mail:                        fgvfo@fg.gov.ua

web-page:                  www.fg.gov.ua/en

«call-center»
0-800-308-108 for enquires about deposit guarantee for physical entities (free calls in Ukraine):        
044-333-36-55*
*згідно з тарифами оператора зв'язку 

More information:


 

 

Information about deposit guarantee system

1. Deposit Guarantee Fund (hereinafter — “DGF”) is established with the purpose of protecting the rights and legitimate interests of bank depositors (individuals), and strengthening public trust in the banking system in Ukraine.

2. The DGF guarantees to pay out deposits to all depositors of a bank. The DGF shall refund the money in the amount of the deposit, including the interest as at the date of the commencement of the bank resolution procedure by the DGF, but the amount in question may not exceed the ceiling limit of the reimbursement for deposits set as of the said date regardless of the number of deposits in one bank.

In case of the decision of the National Bank of Ukraine to revoke the banking license and liquidate the bank on the grounds listed in part two of Article 77 of the Law of Ukraine “On Banks and Banking” the DGF shall guarantee the refund of funds held on deposits to each depositor of a bank, including the interest, as at the date of commencement of the bank liquidation procedure but not exceeding the ceiling limit of the reimbursement for deposits set as of the date of the said decision regardless of the number of deposits in one bank.

3. “Deposit” means cash or non-cash money in Ukrainian or foreign currency received by a bank from a depositor (or received to an account of a depositor) under a deposit agreement or account agreement or under an issued registered certificate of deposit, including interests accrued thereon.*

4. The depositor shall have a right to receive the guaranteed amount of deposit at the expense of the DGF within the marginal guaranteed amount allowing the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank.

The administrative and executive board of “DGF” settles the procedure of payouts of the deposit funds according to the legal and administrative acts of “DGF” (paragraph 4 of the text of Executive board of the DGF from 12/09/2016 # 1809).

5. Payouts of foreign currency deposits shall be made in the national currency of Ukraine after recalculation of the deposit value at the official exchange rate of UAH to foreign currencies set by the National Bank of Ukraine as of the date of the commencement of the bank resolution procedure and the exercise of the provisional administration by the DGF in accordance with Article 36 of the Law of Ukraine “On Household Deposit Guarantee System”.

In case of the decision of the National Bank of Ukraine to revoke the banking license and liquidate the bank on the grounds listed in part two of Article 77 of the Law of Ukraine “On Banks and Banking”, the funds from a foreign currency deposit shall be refunded in the domestic currency of Ukraine after the conversion of the deposit amount at the official exchange rate of UAH to foreign currencies set by the National Bank of Ukraine as of the date of commencement of the bank liquidation.

The interest accrual on deposits shall be terminated on the last day prior to the commencement date of the bank resolution procedure by the DGF (in case of the decision made by the National Bank of Ukraine to revoke a banking license and liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine “On Banks and Banking” — on the date of the decision to revoke the banking license and liquidate the bank).( abstract #3 of the paragraph #5 with changes according to the text of Executive board of the DGF from 12/09/2016 # 1809).

6. The DGF shall not pay out any funds:

1) on the accounts of sole traders*

2) put into trust management of a bank;

3) of less than UAH 10;

4) certified by a saving (deposit) certificate payable on demand;

5) funds lodged to a bank deposit by a person, which is a related party of the bank or has been such a party within one year prior to the date of the decision of the National Bank of Ukraine to categorize such a bank as insolvent (or, in case of the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank on the grounds specified in part two of Article 77 of the Law Of Ukraine “On Banks and Banking”—within one year prior to the date of the said decision

6) funds lodged to a bank deposit by a person, which has provided the bank with professional services as an auditor, an appraiser, in the event that less than one year has passed since the date of the termination of the provision of services till the date of the decision of the National Bank of Ukraine to categorize the bank in question as insolvent (or, in case of the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank on the grounds specified in part two of Article 77 of the Law of Ukraine “On Banks and Banking”—one year prior to the date of the said decision

7) held by a substantial shareholder in the bank;

8) in respect of bank deposits, under which depositors receive interest from the bank under contracts concluded on conditions not matching the current market conditions within the meaning of Article 52 of the Law of Ukraine “On Banks and Banking” or enjoy other financial benefits from the bank;

9) under a deposit in a bank, if the said deposit is used by the depositor as the means to secure the performance of another liability to the same bank, in the full amount of the deposit until the date of the performance of liabilities;

10) with subsidiaries of a foreign banks;

11) deposits in banking metals;

12) funds placed on accounts garnished by court decision.


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* Deposits of individual entrepreneurs are guaranteed by the DGF regardless of the day of account opening starting from 01 January 2017 for the banks included to the category of insolvent after the 01 January 2017.

Note

(Decision | Regulation Guarantee Fund of individuals,physical entities  on 23.07.2012, # 10 "On approval of the procedure for informing the public about the system of guaranteeing deposits of individuals")