ALBA Cooperative Savings Bank – 13,000 Depositors to be indemnified

Press release 26 September 2014 Due to the liquidation of ALBA Cooperative Savings Bank the National Deposit Insurance Fund (NDIF) has to pay nearly HUF 12 billion in indemnities to 13,183 customers. Pursuant to the Act on cooperative credit institutions, 40 percent of deposit portions above the EUR 100,000 threshold will be paid by Takarékbank to the affected depositors in the assigned savings bank branches. The indemnification of the 12,000 individual depositors and nearly 1,000 legal entities will start next week. NDIF will pay a total of HUF 11.9 billion to 13,183 depositors of ALBA Cooperative Savings Bank (hereinafter: the Savings Bank) in indemnities. The indemnification of 97% of the… Read More

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NDIF to start the indemnification process of the depositors of ALBA Cooperative Savings Bank

Press release 18 September 2014 The National Deposit Insurance Fund (NDIF) is starting the indemnification of the depositors of ALBA 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 maximum EUR 100,000 (maximum HUF 31,396,000) per person, depending on whether they are individual or corporate customers. NDIF is about to start the indemnification of the depositors of ALBA Cooperative Savings Bank, and will finish the process within 20 working days, by 15 October at the latest, after the court ruling about the liquidation of the savings bank was published in the Corporate Gazette… Read More

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A Szanálási Alap 2014-es díjfizetési szabályzatának elfogadása

There are no translations available. A Szanálási Alap igazgatótanácsa elfogadta az Alaphoz történő éves, kockázat alapú díjfizetési kötelezettségre vonatkozó Díjfizetési szabályzatot Budapest, 2014. szeptember 15. – A Szanálási Alap igazgatótanácsa a pénzügyi közvetítőrendszer egyes szereplőinek biztonságát erősítő intézményrendszer továbbfejlesztéséről szóló 2014. évi XXXVII. törvény felhatalmazása és az MNB előterjesztése alapján elfogadta a Szanálási Alap díjpolitikáját és a díjfizetési szabályzatot, amely alapján meghatározta tagjainak 2014. évre eső díjainak befizetési kötelezettségét. A hitelintézetek és befektetési vállalkozások méretükkel arányos mértékű díjfizetésre kötelezettek, és a díj kiszabásánál – a kockázat alapú változó díjrész miatt – kockázatosságuk is figyelembe vételre került. A szektoroknak az idei évre az Alaphoz történő hozzájárulások (a csatlakozási díjakkal együtt) kb.… Read More

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Indemnification in Orgovány: A speed remarkable even on an EU scale

Press release August 6, 2014 The National Deposit Insurance Fund (NDIF) delivered the covered depositors’ money to the paying agents within a single week, which is considerably faster than the twenty working days required by the relevant EU legislation. Individual settlement letters were posted to 97 percent of the depositors of Orgovány és Vidéke Takarékszövetkezet „f.a.” (in English: Orgovány and Vicinity Savings Cooperative Bank “under liquidation”) within 7 working days; concurrently, NDIF transferred the financial coverage for the indemnification to its paying agent partners in due time. As a result, 65 percent of the depositors have received their money at the post offices participating in the indemnification. Over 9,500 depositors… Read More

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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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10,000 DEPOSITORS TO BE INDEMNIFIED

  Körmend: 10,000 DEPOSITORS TO BE INDEMNIFIED Most depositors can receive their money already on Friday Following the bankruptcy of the Körmend és Vidéke Savings Cooperative Bank the National Deposit Insurance Fund (NDIF) will indemnify 10,072 depositors. The payment of indemnifications equalling maximum HUF 1 million will be started on Friday by the Hungarian Post. Delivery of the related notices will also start on Friday to the residential addresses of customers above this limit. The commencement of payments has been made possible by the fast processing of the data stock of the savings bank. The total amount to be paid as indemnification exceeds HUF 22 billion. By the fourth working… Read More

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Bilateral Agreement Between the Slovakian and the Hungarian Deposit Insurance Schemes

20 November, 2013 In order to have single rules for handling potential cross border bank failures and reimbursing depositors, Deposit Protection Fund of Slovakia and the National Deposit Insurance Fund of Hungary today signed a mutual claims handling bilateral agreement. Aim of the cooperation that contains harmonization of technical details during an eventual payout is to serve mutual interest of the two countries in maintainaining financial stability and enhancement of public confidence in the financial system in line with objectives of EU Directive on Deposit Guarantee Systems. Having deep understanding on the diverse national legal environments and also with regard to creating mutual institutional ability that grounds fast and effective… Read More

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