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 total savings deposited with credit institutions as of early 2011 –based on fee returns as of June in the current year – has shown a decrease for the first time since 1993 (by approximately HUF 300 billion) in comparison with the previous year’s figure.

The insured deposit portfolio, which constitutes the fee base of the NDIF, grew by 0.2 percent, from HUF 12,174billion of early 2010 to approximately HUF 12,204 billion.

 

Consolidated Insured Depositsdata: majority of depositors protected
In their fee returns, NDIF member institutions are to present a statement consolidated by customer according to the Consolidated Insured Deposits data register. What can be established due to this is that in early 2011, the deposits of 9,835,004 out of the 9,874,221 deposit owners did not exceed the EUR100,000 (nearly HUF 27 million) limit of currently validdeposit insurance protection, i.e. 99.6 percent of all depositors enjoy the NDIF’s protection.

Considering the EUR 100,000 limit, 69.6 percent (HUF 8,495 billion) of the insured deposits worth HUF 12,204 billion, which constitutes the basis of the NDIF’s fee base, is below the NDIF’s indemnification obligation.

Large depositors in a limited circle
Despite the relatively small number of large depositors