On April 1, 2022, the Verkhovna Rada of Ukraine adopted a 100% guarantee for bank deposits during martial law.
After its completion, the guarantee on deposits from the state will amount to 600 thousand hryvnia, reports the Chronicle.info with reference to TSN.
At the plenary session on Friday, April 1, 2022, Verkhovna Rada with 298 votes «for» adopted Draft Law No. 5542-1. President of Ukraine Volodymyr Zelensky proposed to introduce a full guarantee on bank deposits back in March 2022. The Deposit Guarantee Fund and the National Bank supported this initiative on the condition that a 100% guarantee would be provided only during the period of martial law.
What guarantees can Ukrainians expect new document:
- the depositor is guaranteed to receive 100% of the deposit, which will close the bank during the war and three months after it;
- when after After the end of the war, more than 3 months will pass, the guaranteed deposit amount will be increased to UAH 600,000 (previously it was UAH 200,000).
The regulators emphasized that a 100% guarantee on bank deposits for individuals during the time of martial law will help Ukrainians feel more confident in their savings. After all, the state guarantees every citizen the return of invested funds in full. Also, such a decision can be called an additional mechanism for supporting banks.
According to the new Draft Law, Oschadbank will join the Deposit Guarantee Fund for individuals, and therefore, after the war, a 100% guarantee on bank deposits in this bank will be canceled. Recall that until now Oschadbank was the only bank in Ukraine in which the state guaranteed a full return of the deposit, regardless of the amount.