Deposit Guarantee Fund for physical entities


Deposit Guarantee Fund for physical entities


The certificate's Fund

Deposit Guarantee for physical entitties #1 dated July 2, 2018.

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:



 

 

CERTIFICATE

About the system of Deposit Guarantee Fund

Deposits at JSC Bank «АRCADA» is guaranteed by the Deposit Guarantee Fund (hereafter - Fund)

Guarantee
limitations

Every depositor will receive the reimbursed the funds in the amount of the deposit, including interest, as of the day the procedure for the withdrawal of the bank from the market is initiated, but not more than the amount of the maximum amount of compensation for deposits established on that day, regardless of the number of deposits in one bank.

In case of acceptance by the National Bank of Ukraine of a decision on withdrawal of a banking license and liquidation of the bank on the basis specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities", each depositor shall be guaranteed the indemnity for deposits, including interest, on the day the procedure for liquidation of the bank begins, but not more than the sum of the maximum amount of compensation for deposits made on the date of such decision, regardless of the number of deposits in one bank.

The limit amount of the amount of compensation for deposits is set in accordance with Article 26 of the Law of Ukraine "On the system of guaranteeing deposits of individuals" and is two hundred thousand UAH.

In accordance with part four of Article 26 of the Law of Ukraine "On the system of guaranteeing deposits of individuals" funds are not reimbursed:

1) transferred to the bank in trust management;

2) for a deposit of less than UAH 10;

3) on deposit certified by a savings deposit (deposit) certificate of bearer;

4) placed on a deposit in a bank by a person who is a person associated with the bank or who was such a person during the year before the day the National Bank of Ukraine adopted the decision to assign such a bank to the category of insolvent (if the National Bank of Ukraine adopts a decision on withdrawal of a banking license and liquidation of the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities" - within one year until the date of such a decision

5) placed on a bank contribution by a person who provided the bank with professional services as an auditor, an appraiser, if from the day the services were terminated, until the date of adoption by the National Bank of Ukraine of the decision to assign such a bank to the category of insolvent ones, one year has not expired (in case of adoption The National Bank of Ukraine a decision on withdrawal of a banking license and liquidation of the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities" - one year before the date of such a decision

6) placed on the deposit by the holder of a substantial interest in the bank;

7) for deposits in a bank, according to which depositors on an individual basis receive from the bank interest on contracts concluded on terms that are not current market conditions in accordance with Article 52 of the Law of Ukraine "On Banks and Banking", or have other financial privileges from the bank;

8) for a deposit in a bank, if such deposit is used by a depositor as a means of securing fulfillment of another obligation to this bank, in full amount on the day the obligations are fulfilled;

9) for deposits in branches of foreign banks;

10) for deposits in banking metals;

11) are placed on accounts held in custody by a court decision.
When depositor has more than one bank deposit

The Fund shall reimburse the funds in the amount of the deposit, including interest, as of the day of the beginning of the withdrawal procedure of the Bank  from the market, but not more than the amount of the maximum amount of compensation for deposits established on that date, regardless of the number of deposits in one bank in accordance with Article 26 of the Law of Ukraine "On the system of guaranteeing deposits of individuals".

Period of reimbursement in case of bank classification as insolvent

Payment begins in accordance with the procedure and in the priority established by the Fund, not later than 20 working days (for banks whose depositors contains information on more than 500,000 accounts - no later than 30 working days) from the day the procedure for withdrawal by the Fund  certain Bank from the market.

During the interim administration, the depositor acquires the right to receive a guaranteed amount of compensation for deposits at the expense of the Fund capital within the limits of the maximum amount of compensation for deposits under contracts, which expired on the day the procedure for initiating the withdrawal of the Bank from the market began, and according to bank account agreements.

The Fund has the right not to include in the calculation of the guaranteed amount of compensation funds under the bank account agreements before receiving full information about transactions executed by the payment system (domestic and international).

Payment of the guaranteed amount of compensation from the bank account agreements is made only after the Fund receives full information about the transactions executed by the payment system (domestic and international).

Currency reimbursement

Reimbursement of funds deposit  (bank deposit / bank account agreements) in foreign currency shall be made in the national currency of Ukraine after transferring the amount of the deposit according to the official exchange rate of UAH to foreign currencies established by the National Bank of Ukraine on the day the procedure for withdrawal of the bank from the market begins and the administration of the interim, article 36 of the Law of Ukraine "On the system of guaranteeing deposits of individuals".

In case of approval by the National Bank of Ukraine of a decision on withdrawal of a banking license and liquidation of the bank on the basis determined in part two of Article 77 of the Law of Ukraine "On Banks and Banking", the indemnity of the deposit in a foreign currency shall be made in the national currency of Ukraine after the transfer of the amount of the deposit accordingly to the official UAH rate to the foreign currency established by the National Bank of Ukraine on the day the liquidation of the bank begins.

Contacts

Deposit Guarantee Fund address: 04053, Kyiv, 17 Sichovykh Striltsiv Street

phone (044) 333-35-56, (044) 333-35-63

0-800-308-108 (for inquiries)

e-mail: fgvfo@fg.gov.ua

More information

http://www.fg.gov.ua

Additional information

The deposit is considered to be funds in cash or in non-cash form in the Ukrainian currency or in foreign currency, which is attracted by the bank from the depositor (or received for the depositor) under the terms of the bank deposit agreement (deposit), bank account or by issuing the registered deposit certificate, including accrued interest on such funds.

The contributor is an individual (including an individual - an entrepreneur) who has entered into a bank deposit agreement (deposit), a bank account or who owns a nominal deposit certificate in their favor.

Deposits of individual entrepreneurs are guaranteed by the Fund irrespective of the date of opening the account, starting from January 1, 2017, for banks that are classified as insolvent after January 1, 2017.

Interest on deposits is stopped on the day the procedure for withdrawal of the Bank's fund from the market is adopted (in case of adoption by the National Bank of Ukraine of a decision on withdrawal of a banking license and liquidation of the bank on the basis specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities" - on the day of withdrawal of a banking license and liquidation of a bank).

Unofficial translation for the site is used.