DECISION OF EXECUTIVE DIRECTORATE OF FUND OF GUARANTEEING HOUSEHOLD DEPOSITS OF UKRAINE

of May 26, 2016 No. 823

About modification of the Regulations on procedure for compensation by Fund of guaranteeing household deposits of means for deposits

According to Item "About system of guaranteeing household deposits" the executive directorate of Fund of guaranteeing household deposits solved 3 parts three of article 12 of the Law of Ukraine:

1. Make changes to the Regulations on procedure for compensation by Fund of guaranteeing household deposits of means for deposits approved by the decision of executive directorate of Fund of guaranteeing household deposits of August 9, 2012 No. 14, registered in the Ministry of Justice of Ukraine on September 7, 2012 on No. 1548/21860 (further - the Provision), having been reworded as follows it which is applied.

2. Payment of means and compensation of the guaranteed amount to investors of the banks referred to category insolvent or on which the decision on withdrawal of the banking license and liquidation till July 01, 2016 is made are performed according to the Provision in the edition operating before entry into force of this decision except Items 6 - the 12th Section II.

3. Compensation of means on deposits of physical persons entrepreneurs is performed by Fund of guaranteeing household deposits irrespective of the account opening day, since January 1, 2017 concerning the banks referred to category insolvent after January 1, 2017.

4. To provide to department of strategy and normative and methodological providing together with legal department submission of this decision to the Ministry of Justice of Ukraine for state registration.

5. This decision becomes effective since July 01, 2016, but not earlier than day of its official publication.

6. And the international organizations to provide to department of public relations placement of this decision on the official page of Fund of guaranteeing household deposits on the Internet after its state registration.

7. Control over the implementation of this decision to assign to the deputy managing director Kiyak A. T.

Approved by the Decision of executive directorate of Fund of guaranteeing household deposits of Ukraine of August 9, 2012 No. 14

(in edition of the Decision of executive directorate of Fund of guaranteeing household deposits of Ukraine of May 26, 2016 No. 823)

Regulations on procedure for compensation by Fund of guaranteeing household deposits of means for deposits

I. General provisions

1. This Provision is developed according to the Law of Ukraine "About system of guaranteeing household deposits" (further - the Law) and determines procedure and priority of compensation of means by deposits Fund of guaranteeing household deposits (further - Fund).

2. In this Provision terms are used in the following values:

the guaranteed sum (further - GSS) - the conditional amount calculated by Fund from the total amount of balance on the account and the percent reduced by tax amount is also part of the guaranteed compensation amount of means on deposits of one investor within the extreme amount of compensation of means on deposits as of day of the beginning of the procedure of conclusion Fund of bank from the market, and in case of liquidation of bank on the bases determined by part two of article 77 of the Law of Ukraine "About banks and banking activity" - in day of the beginning of liquidation of bank;

total estimated amount - the total amount of deposits and the percent reduced by tax amount as of day of the beginning of the procedure of conclusion by Fund of bank from the market, and in case of liquidation of bank on the bases determined by part two of article 77 of the Law of Ukraine "About banks and banking activity" - in day of the beginning of liquidation of bank.

Other terms used in this Provision are used in the values given in the Law.

3. The fund guarantees to each bank depositor compensation of means on its contribution. The fund compensates means in the amount of contribution, including percent, as of day of the beginning of the procedure of conclusion Fund of bank from the market, but no more limiting amount of the amount of compensation of means on deposits established this day irrespective of quantity of deposits in one bank. The limiting amount of the amount of compensation of means on deposits cannot be less than 200 000 hryvnias. The administrative board of Fund has no right to make the decision on limiting reduction of compensation amount of means on deposits.

In case of adoption by the National Bank of Ukraine of the decision on withdrawal of the banking license and liquidation of bank on the bases determined by part two of article 77 of the Law of Ukraine "About banks and banking activity" the Fund guarantees to each bank depositor compensation of means on deposits, including percent, in day of the beginning of liquidation procedure of bank, but no more limiting amount of the amount of compensation of means on deposits established on acceptance date of such decision irrespective of quantity of deposits in one bank.

4. The fund does not compensate means in the cases provided by part four of article 26 of the Law.

5. The fund guarantees compensation of means on contribution which the investor has in bank which was reorganized further by transformation, on the same conditions, as before reorganization.

6. The deposits transferred to transitional bank are guaranteed by Fund on the same conditions which existed about day of their transfer.

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