Moldova increased the level of bank deposits coverage from 100 thousand to 200 thousand lei from January 1, 2025
The Deposit Guarantee Fund in the Banking System announced this, noting that the adopted measure to increase the level of coverage of bank deposits up to 200 thousand lei is aimed at increasing the protection of citizens' savings and strengthening confidence in the Moldovan banking system. The director-general of the Deposit Guarantee Fund in the Banking System, Dionis Catanoi, said that this increase in the level of coverage of bank deposits ensures a higher degree of security of citizens' savings and represents an important step in the modernization of the guarantee system. According to him, this increase meets the requirements of the local market and contributes to increasing public confidence in the national banking system. At the same time, measures are taken to gradually adjust the level of deposit coverage to the EU standards, taking into account Moldova's economic and financial specifics. The information campaign launched by the Deposit Guarantee Fund in the Banking System aims at providing clear and transparent information to the general public, thus ensuring a better understanding of the benefits of increasing the level of deposit coverage. The Deposit Guarantee Fund in the Banking System was established as a public legal entity on July 1, 2004 with the purpose of guaranteeing deposits placed in banks, protecting depositors' interests and contributing to the stability of the Moldovan financial system. The Deposit Guarantee Fund in the Banking System manages the Bank Deposit Coverage Fund and the Bank Resolution Fund. The Bank Deposit Coverage Fund guarantees deposits of individuals and legal persons, both residents and non-residents, in national and foreign currency in all member institutions. Thus, in case of unavailability of bank deposits, the Bank Deposit Coverage Fund guarantees their compensation to each depositor within the coverage level. Any bank licensed by the National Bank for deposit-taking activities becomes a mandatory member of the Bank Deposit Coverage Fund from the date of entry into force of the decision to issue a license. // 06.01.2025 - InfoMarket
