Payouts to Orgovány depositors have started

Press Release 31 July 2014 PAYOUTS TO ORGOVÁNY DEPOSITORS HAVE STARTED The National Deposit Insurance Fund (NDIF) have started to pay compensation to the depositors of Orgovány és Vidéke Takarékszövetkezet today. Indemnities up to HUF 100,000 are delivered to the recipients’ addresses by the Hungarian Post. Between HUF 100,000 and HUF 2.5 million depositors are notified by post about which post office they need to visit to collect the amounts they are entitled to. Private individuals with deposits over HUF 2.5 million and corporate depositors will start receiving the notices from next Monday on.  It is due to the fast processing of the database that NDIF payouts could be started… Read More

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The Resolution Fund started to operate

Press Release The Resolution Fund started to operate The Board of Directors of the Resolution Fund held its inaugural meeting pursuant to the act on the further development of the institutional framework strengthening the security of certain actors of the financial intermediary system (Act XXXVII of 2014). The Fund, which will be funded by contributions from credit institutions and investment firms, would enable the settlement of the situation of the troubled institutions to be financed by the participant of the sector instead of the taxpayers. The management board of the Resolution Fund has four members: one was appointed by the minister for national economy, two members by the head of… Read More

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NDIF to start the indemnification of the depositors of Orgovány és Vidéke Cooperative Savings Bank

  Press Release 25 July 2014 NDIF to start the indemnification of the depositors of Orgovány és Vidéke Cooperative Savings Bank The National Deposit Insurance Fund (NDIF) is starting the indemnification of the depositors of Orgovány és Vidéke Cooperative Savings Bank, and will finish the process within 20 working days. The customers of the savings bank can be entitled to the forint equivalent of EUR 100,000 (HUF 30,835,000) per person, depending on whether they are individual or corporate customers. NDIF is about to start the indemnification of around 30,000 depositors of Orgovány és Vidéke Cooperative Savings Bank, and will finish the process within 20 working days, by 25 August at… Read More

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Information for the depositors of ‘Orgovány és Vidéke’ Cooperative Savings Bank

ANNOUNCEMENT about the indemnification of the depositors of Orgovány és Vidéke Cooperative Savings Bank In its resolution No. H-JÉ-I-281/2014 the National Bank of Hungary revoked the operating licence of Orgovány és Vidéke Cooperative Savings Bank (registered office: 6077 Orgovány, Kölcsey u. 2/a.) and upon the initiative of NBH the court has ordered the liquidation of the savings bank. Consequently, pursuant to Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises (Hpt.) NDIF will start the indemnification of depositors after 25 July 2014, and will complete the process within 20 working days. Amount of indemnification Pursuant to the above Act, NDIF will make personalised payments on deposit and interest claims… Read More

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