OREANDA-NEWS. March 26, 2009. According to the decision of the administrative board of the Foundation for Deposits Guarantee in the banking system (FDGBS) as of December 22, 2008, the limit of guarantee of individuals’ deposits has been increased from 4.5 thousand up to 6 thousand leis.

The limit was increased by the establishment of the floating rate of US1.3333 from the guaranteed limit, as defined in paragraph 1 of Art. 6 of the Act on guaranteeing individuals’ deposits in the banking system - 4,5 thousand leis.

The new guarantee limit will be applied from April 1, 2009 till March 31, 2010. At the same time, the administrative board of the Foundation for Deposits Guarantee has made the appropriate changes in the Regulation on informing depositors on the deposits’ guarantee.

Thus, according to the decision of the board of FDGBS as of March 17, 2009, published in Monitorul Oficial on March 24 this year, the banks will be obliged to increase the guarantee limit from 4500 up to 6000 leis, which would be paid by FDGBS if the deposits of one of the authorized banks can not be paid.

Thus, the Foundation guarantees the payment of 6 thousand leis to each depositor, regardless of the amount, size or currency of the deposit. At the same time, the amount of liabilities of the bank to the depositor is calculated by summing up all his deposits, including those due to be paid as well as unpaid interests on the date when the deposit can not be paid by the bank. The amounts of deposits’ guarantee in the banking system are accumulated at the expense of annual or quarterly contributions of the commercial banks.

According to the Law on guaranteeing individuals’ deposits in the banking system, the bank pays a single initial contribution of 1% of the total amount of deposits registered in the bank’s balance and the quarterly contribution of 0,25% of the total amount of guaranteed deposits, depending on the limit of guarantee, registered in the balance of the bank at the end of the each quarter.

According to the data published on the site of the fund (www.fgdsb.md), to date the total amount of the Foundation for Deposits Guarantee is 73 million 681.8 thousand leis.