INFORMATION
on the Deposit Guarantee System for Individuals
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Deposits with Joint-Stock Company «COMINBANK» |
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Guarantee limit |
Each depositor is reimbursed the amount of the deposit (including interest) as of the end of the day preceding the day on which the procedure for withdrawing the insolvent bank from the market by the Fund commences, but not more than the maximum reimbursement amount per depositor established on that day, regardless of the number of deposits in one bank. If the National Bank of Ukraine decides to revoke the banking licence and to liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities", each depositor is guaranteed reimbursement of deposits (including interest) as of the end of the day preceding the day on which the bank’s liquidation procedure commences, but not more than the maximum reimbursement amount established on the date of such decision, regardless of the number of deposits in one bank. The maximum reimbursement amount per depositor is established in accordance with Article 26 of the Law of Ukraine "On the Household Deposit Guarantee System" and is as follows: During martial law in Ukraine and for three months from the day of termination or cancellation of martial law in Ukraine, the Fund reimburses each depositor of the bank the full amount of the deposit, including interest accrued as of the end of the day preceding the day on which the procedure for withdrawing the bank from the market commences, except for cases provided for in part four of Article 26 of the Law of Ukraine «On the Household Deposit Guarantee System». After three months from the day of termination or cancellation of martial law in Ukraine, the maximum reimbursement amount per depositor may not be less than UAH 600,000 and may be increased by decision of the Administrative Board of the Fund. In accordance with part four of Article 26 of the Law of Ukraine "On the Household Deposit Guarantee System", the following funds are not reimbursed: 1) transferred to the bank under trust management; 2) deposits in an amount of less than UAH 10; 3) under savings and deposit certificates of banks; 4) placed as a deposit with the bank by a person who is a related party of the bank or has been such a person within one year before the day on which the National Bank of Ukraine made a decision to classify such bank as insolvent, or before the day on which the National Bank of Ukraine decided to revoke the banking licence and liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities"; 5) placed as a deposit with the bank by a person who provided the bank with professional services as an auditor or appraiser, if less than one year has passed from the day of termination of the provision of such services to the day on which the National Bank of Ukraine decided to classify such bank as insolvent (or one year before the day on which the National Bank of Ukraine decided to revoke the banking licence and liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities"); 6) placed as a deposit by an owner of a substantial shareholding in the bank; 7) on deposits with the bank under which depositors receive interest from the bank on an individual basis under agreements concluded on terms that are not current market terms in accordance with Article 52 of the Law of Ukraine "On Banks and Banking Activities", or who have other financial privileges from the bank; 8) on a deposit with the bank if such deposit is used by the depositor as security for the performance of another obligation to that bank, in the full amount of the deposit until the day of fulfilment of the obligations; 9) on deposits with branches of foreign banks; 10) on deposits in banking metals; 11) placed on accounts that are under arrest by a court decision; 12) on a deposit on which the satisfaction of claims has been suspended in accordance with the Law of Ukraine "On Prevention and Counteraction to Legalization (Laundering) of the Proceeds of Crime, Terrorist Financing and Financing of Proliferation of Weapons of Mass Destruction". |
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If a depositor has more than one deposit at a bank |
The Fund, in accordance with Article 26 of the Law of Ukraine "On the Household Deposit Guarantee System", reimburses the amount of the deposit (including interest), but not more than the maximum reimbursement amount per depositor, regardless of the number of deposits in one bank. |
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Reimbursement period |
Payment of reimbursement starts in the order and sequence established by the Fund, no later than 20 business days (for banks whose depositor database contains information on more than 500,000 accounts – no later than 30 business days) from the day on which the procedure for withdrawing the insolvent bank from the market by the Fund commences, or from the day on which the bank’s liquidation procedure commences – if the National Bank of Ukraine decides to revoke the banking licence and liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities". The Fund has the right not to include in the calculation of the guaranteed reimbursement amount funds under bank account agreements until it has received complete information on transactions made through a payment system (domestic and international). Payment of the guaranteed reimbursement amount under bank account agreements is made only after the Fund has received complete information on transactions made through a payment system (domestic and international). |
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Reimbursement currency |
Reimbursement of funds on a foreign currency deposit is made in the national currency of Ukraine after converting the deposit amount at the official exchange rate of the hryvnia against foreign currencies set by the National Bank of Ukraine as of the end of the day preceding the day on which the procedure for withdrawing the insolvent bank from the market by the Fund and the introduction of temporary administration in accordance with Article 36 of the Law of Ukraine "On the Household Deposit Guarantee System" commences. If the National Bank of Ukraine decides to revoke the banking licence and liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine "On Banks and Banking Activities", reimbursement of funds on a foreign currency deposit is made in the national currency of Ukraine after converting the deposit amount at the official exchange rate of the hryvnia against the foreign currency set by the National Bank of Ukraine as of the end of the day preceding the day on which the bank’s liquidation procedure commences. |
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Contact details of the Deposit Guarantee Fund of Individuals |
17 Sichovykh Striltsiv Street, Kyiv, 04053, Ukraine, hotline telephone number 0-800-308-108, (044) 333-36-55 |
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More information |
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Depositor’s acknowledgement of receipt |
_______________________________ |
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Additional information |
The terms "deposit" and "depositor" are used in the meaning given in the Law of Ukraine "On the Household Deposit Guarantee System". Deposits of individual entrepreneurs are guaranteed by the Fund regardless of the day the account was opened, starting from 01 January 2017 with respect to banks classified as insolvent after 01 January 2017. The Fund terminates payment of the guaranteed reimbursement amounts on the day of approval of the bank’s liquidation balance sheet and, no later than the next business day, publishes on the Fund’s official website an announcement of termination by the Fund of payments of the guaranteed reimbursement amount. |