In order to protect financial consumers OBA is to declare as a response for many direct clisnts’ inquiry: The Civis Global Brokerage House Ltd. is not a credit institutions, thus it is not OBA member institution. Accordingly, the Civis Global Brokerage House’s account in any domestic (OBA member) credit institution in protected by OBA up to 100 thousand EUR, but this protection is not multiplied by those clients who paid for benefit of Civis Global Brokerage House.
Continue ReadingConference on the protection of depositors
International and local dignitaries participated at the conference organized by OBA in Budapest at 23rd November 2012 entitled „Tightening Financial Regulation, Broadening Role of Deposit Insurance – Resolution Serving Financial Stability”. The event focused on the European concept of the stability and resolution of the banking system. Participants acquainted with the US reactions of the crises and also some of the Hungarian dilemmas. Program of the conference: download from here. Media coverage: Portfolio.hu Presentations: 1. Financial Crisis Prevention and Management in the US – Fred Carns2. Hungary seminar resolution_23 11 2012_Mr Jerzy Pruski_BFG3. European DGSs’ role in Resolution – Thierry Dissaux4. Betétbiztosítás és válságkezelési törekvések az EU-ban – Farkas… Read More
Continue ReadingWhite Paper – Soltvadkert
Click here to download white paper of Soltvadkert Savings Co-operative Bank compensation.
Continue ReadingVisit of Vietnamese deposit insurers
On October 29th, a five-member delegation of the Deposit Insurance Fund of Vietnam (DIV) visited NDIF. The group, led by Dr. Bui Khac Son CEO of DIV was keen on gaining experience on the co-operation of the Hungarian financial safety-net institutions, the legislative provisions on depositors’ protection, as well as lessons learned from the nearly two decades of experience of the NDIF. The visit meant the first official bilateral meeting between the two organizations. Andras Fekete–Gyor, Managing Director of the NDIF held presentation on the experiences of early 90’s bank consolidation (recapitalization) of the banking system, which was welcomed by the guests. Vietnam has currently similar problems with its own… Read More
Continue ReadingDeposit Registry to be discontinued
Banks’ administration to be decreased With regard to a concurrent launch of the mandatory consumer protection logo as of 1 March 2012, the Board of Directors of the NDIF cancels the requirement for member institutions to keep a mandatory Deposit Registry, as well as the related requirement for member institutions to supply data to the Hungarian Financial Supervisory Authority (HFSA). In the continuation, customers can make sure whether an individual banking product is insured by checking the consumer protection logo on the banking information brochure related to the product in question. The “Deposit and savings product selection programme” accessible on the HFSA’s home page provides information on material data of… Read More
Continue ReadingDeposits are safe
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Continue ReadingResolution on customer information (new)
The Board of Directors of the NDIF passed the following resolutions in order to increase the financial knowledge and awareness of credit institution customers. a) The Board of Directors amended its resolutions passed on 22 September 2010 and on 19 September 2011 on sending customer information on Consolidated Insured Deposits, as follows:http://www.oba.hu/oba/en/ndif-members/single-customer-view b) As of 1 March 2012, the Board of Directors of the NDIF requires credit institutions to display a deposit insurance consumer protection logo on all forms of customer information concerning products insured by the NDIF (on printed, electronic and multimedia information alike). The NDIF will provide information by mail and on its home page to member institutions… Read More
Continue ReadingNew NDIF member
With the accession of ErsteLakástakarék-pénztár(ErsteBuilding Society), the membership of the NDIF increased to 167. Pursuant to the Act on banks (Hpt.), all credit institutions (and specialised credit institutions) are required to join the NDIF. With the accession of ErsteLakástakarék-pénztár, its customers enjoy the benefit of domestic deposit insurance, i.e. protection up to EUR 100 thousand per person. For further information on the new member institution, please visit Erste’s homepage: http://www.erstebank.hu/hu/lakastakarekpenztar.html
Continue ReadingNDIF on Facebook
Information on domestic and foreign deposit insurance organizations can be found at http://www.facebook.com/Betetvedelem. Compensation cases, bank closures, legislative and organizational changes, compensation limits and other important facts may be track.
Continue ReadingVast majority of the depositors are protected by NDIF
Average savings of bank customers is HUF 1.2 million The National Deposit Insurance Fund (NDIF) evaluated the data of credit institutions’ fee returns for the year 2011. According to the fee returns based on last year’s closing balance, the savings portfolio in the banking sector decreased for the first time last year after 18 years of steady growth (by 1.8 percent), which as a result reached HUF 16,640 billion. Concurrently, the NDIF’s indemnification obligations increased by 12 percent to HUF 8,495 billion. 99.6 percent of depositors are within the protection limit of EUR 100,000 (nearly HUF 27 million) valid as of 1 January for deposit insurance. The HUF 16,640 billion… Read More
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