About the DIF
The Deposit Insurance Fund was established pursuant to Act No. 156/1994 Coll., amending and supplementing Act No. 21/1992 Coll., on Banks, as amended, supplementing Act No. 513/1991 Coll., the Commercial Code, as amended, and Act No. 328/1991 Coll., on Bankruptcy and Composition, as amended. It operates as a significant stabilising element in the Czech banking scene and the Czech economy. All banks, building societies, and cooperative deposit banks that have their registered seat in the Czech Republic are obliged by law to contribute to the Deposit Insurance Fund (list of the contributing institutions). If the Czech National Bank announces that any of these institutions is unable to meet is commitments, the Deposit Insurance Fund pays 100% of their deposits, including interest, to all natural persons and legal entities, up to € 100,000. The disbursement of the compensation must be commenced within 20 business days of the issuance of that notice. The Deposit Insurance Fund is thus, along with to the Czech National Bank, which oversees the financial soundness and capital adequacy of individual entities on the banking market, and the Ministry of Finance, a part of the financial safety net. Individuals and companies in the Czech Republic need not worry that they may lose their savings if a Czech financial institution encounters problems.
Since its establishment, the Deposit Insurance Fund has disbursed compensation for insured deposits in sixteen cases, paying out an aggregate of approximately CZK 25 billion, in the form of twelve regular and four additional disbursements. The Fund is managed by a five-member Board of Directors appointed and recalled by the Minister of Finance.
Board of Directors:
| President: | Josef Tauber Executive Director, Czech Banking Association |
| Vice President: |
Petr Vojtíšek Deputy Director, Monetary and Statistics Section, Czech National Bank |
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| Members: | Daniel Heler Deputy CEO and member of the Board of Directors, Česká spořitelna, a. s. |
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| Michal Franěk Director, Financial Markets II Department, Ministry of Finance of the Czech Republic |
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| Jiří Votrubec Member of the Board of Directors and Deputy CEO, Modrá pyramida stavební spořitelna, a. s. |
Ke stažení
- Current Annual Report (.pdf)
- Annual Report 2009 (.pdf)
- Annual Report 2008 (.pdf)
- Annual Report 2007 (.pdf)
- Annual Report 2006 (.pdf)
- Annual Report 2005 (.pdf)
