Deposit insurance fund – Institutional mechanism for protection of household deposits. It was set up in January 1997. Under the name insurance fund of savings deposits. At the beginning, the Fund has the status of a joint stock company owned by all 17 banks and 15 savings houses. In June 2000, he transformed into a deposit insurance fund as a state-owned legal entity. In October 2004, becomes a member of the European Forum of Deposit Insulters. At the end of 2006, the Fund has 30 members (18 banks and 12 savings houses). The management and management bodies are the Steering Committee and the Director, appointed by the Government. All banks and savings houses are mandatory in the Deposit Insurance Fund and pay premiums in the amount of 0.7% of the total household deposits, invested in them. In June 2006 The insurance fund is 3.4% of the total deposits of citizens in the Republic of Macedonia. In the Fund, the following types of deposits are insured: current accounts and denar and foreign currency deposits of the population, deposits related to monetary cards issued by Macedonian banks and foreign currency inflows. The Fund does not guarantee the following types of deposits: deposits of persons who have privileged interest conditions, deposits of persons who possess over 5% of the shares with the right to vote in the bank or savings house, deposits of members of the bank’s management bodies or the savings house and their first-degree relatives. In case of collapse of a bank or savings house, the Fund indists of natural persons in the amount of 100% of the deposit of each person in the amount of up to 10,000 euros and 90% of the amounts between 10,000 and 20,000 euros (in denar counter value). Accordingly, the maximum amount of indemnification that one depositor can receive is 19,000 euros in denar counter value. For amounts over 20,000 euros, the Fund does not indemnify the depositors. By the end of September 2006, compensation of depositors in six cases of ruin of banks and savings houses were carried out in the amount of Denar 174 million. Lit.: Lyupco Trpeski, Money and Banking, Economic Press, Skopje, 2003, 556-560; Kiki Mangova Ponjvic, Vanco Kargov, 60 years Central Banking in the Republic of Macedonia, National Bank of the Republic of Macedonia, Skopje, 2006. Mr. P. Edward Formanec
Original article in Macedonian language Cyrillic alphabet
Кириличен напис ФОНД ЗА ОСИГУРУВАЊЕ НА ДЕПОЗИТИ