Oschadbank is now a member of the Individual Deposit Guarantee Fund, with corresponding deposit compensation.
The Cabinet of Ministers made changes to the charter of “Oschadbank” and finally canceled the state guarantees provided for deposits of individuals in the specified banking institution. The corresponding decision is confirmed by the Cabinet of Ministers Resolution No. 958, published on the “Government Portal”.
In fact, the resolution enshrined the provisions of the Law of Ukraine “On Amendments to Certain Laws of Ukraine Regarding Ensuring the Stability of the Individual Deposit Guarantee System”, which was adopted on April 1, 2022. The law determined that Oschadbank acquires the status of a participant of the Deposit Guarantee Fund from the date of entry into force of this legislative act.
Accordingly, now the statute of “Oschadbank” states that “deposits of individuals placed with the Bank are guaranteed in the manner and in the amounts stipulated by the Law of Ukraine “On the system of guaranteeing deposits of individuals”.
The previous version of this clause provided that the deposits of individuals placed in Oschadbank are guaranteed by the state in accordance with the Law of Ukraine “On Banks and Banking Activities”.
Read also: The war with the Russian Federation put the privatization process of Oschadbank on hold
We would like to remind you that during the martial law, the specified changes will not affect the interests of citizens in any way.
According to the Law of Ukraine “On Amendments to Certain Laws of Ukraine on Ensuring the Stability of the Guarantee System deposits of individuals”, provides for full reimbursement by the Depositor Guarantee Fund for the period of martial law.
That is,to date, deposits to the public are not within the guaranteed amount – UAH 200,000, but at 100%.
The effect of this rule applies to banks, decisions on whose withdrawal from the market will be accepted after this Law enters into force.
During the war in Ukraine, two banks – “Megabank” and “Sich” – were declared insolvent.
p> Related video
And three months after the termination or cancellation of martial law, a guaranteed amount of deposits will be at least UAH 600,000.
