The deposit insurance system of Cyprus has become obsolete In response to the request of Portfolio.hu, István Tóth, PR&IR Manager of the National Deposit Insurance Fund (NDIF) has described in detail the deposit insurance system of Cyprus and provided information on the common talk on deposit insurance in Europe. With the relevant directive Brussels carved the protection of deposits under EUR 100,000 in stone. With the directive the EU promises that European citizens’ bank deposits worth maximum EUR 100,000 are sacrosanct irrespective of the depositors’ nationality. Therefore, neither the Cyprian banks, nor the credibility of the EU benefited from the idea of a standard surtax coming especially from this direction… Read More
Continue ReadingDIFK visits Hungary
Delegation of Europe’s youngest country took a three-days of visit at OBA. Group of the Deposit Insurance Fund of Kosovo led by Violeta Arif Krasniqi Managing Director, visited OBA between March 18-20, 2013 in order to gain experience about technical (operational) and legal details of the Hungarian compensation (pay-out) cases.
Continue ReadingInfovideo on Deposit Insurance
If you wish to learn basics of the Hungarian deposit insurance protection, please see our latest video:
Continue ReadingDeposit Insurance on Smartphones
In order to help bank customers to find useful info on deposit insurance on their mobiles OBA launched its mobile web application. It is available on smart phones (Androids and Iphones) and tablets helps to recognize of insured bank deposits and provide easy access for the basic deposit insurance information. The application show the limits of your protection, the list of the institutions are protected by the OBA and also a process map what happens if a bank fails. The application is available on the OBA website, on Google Play or Apple Store. In order to download the application please read the below QR code by your QR code reader.… Read More
Continue ReadingCivis Global Brokerage House Ltd. is not OBA member institutions
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 ReadingDomestic bank deposits were growing again
Press release – Domestic bank deposits were growing again
Continue ReadingNDIF PAYS AT RECORD SPEED
The speedy indemnification based on SCV data The depositors of Soltvadkert és Vidéke Savings Association, u.d. were indemnified by the National Deposit Insurance Fund (NDIF) faster than ever. 98.4% of the depositors got access to their savings placed with the savings association within 10 work days. As a result of the fast NDIF indemnification, the majority of the depositors already received their funds within 20 work days from the enactment of the process on June 1, 2012. Based on its contract entered into with the Hungarian State, NDIF can shortly start paying out the state-guaranteed deposits worth some 16 million Forints placed prior to July 1993. For the overwhelming majority… Read More
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