News

Prague, 17 April 2011 – In response to the recent news from the European Parliament, the Deposit Insurance Fund expresses its bewilderment with respect to the activity of the European M. P. Zuzana Roithová, thanks to whose activity the Internal Market Committee adopted an amendment to a European Directive containing a proposal for another significant shortening of the period for commencing the payout of deposit compensation, from the present 20 business days to a mere 7 business days. Více...

Prague, 16 March 2011 – Clients of foreign banks can again rest a little more easily. The Czech Republic joined another 15 European signatories in signing the international Memorandum of Understanding on cross-border cooperation between deposit insurance schemes. In the event of the bankruptcy of a bank, clients will no longer have to travel abroad to obtain their compensation. Více...

Prague, 20 February 2011 – Thanks to the significantly increased inflow of funds in the last twelve months, the Deposit Insurance Fund had CZK 19 billion at the end of January 2011. Více...

Prague, 2 December 2010 – The events of 2010 significantly changed the face of the system of European deposit insurance. With the emphasis put on increasing the credibility of the European banking system, growing importance is given to protecting the deposits of the clients of banking institutions and the availability of deposits when a bank goes bankrupt. The Deposit Insurance Fund (DIF), and all of the institutions concerned, worked hard during the year to reconstruct the deposit insurance system. Thanks to the efforts put in, the Czech Republic is now among the best-prepared countries. Více...

Prague, 10 November 2010 – According to the amendment to the Act on Banks, in relation to the European Parliament and Council Directive enacted on 11 March 2009, the period for the disbursement of compensation for insured deposits will be shortened as of 31 December 2010, from the current three months to 20 business days. In order to be able to ensure such a thing, the Deposit Insurance Fund (DIF) must use an entirely new information system supporting deposit compensation disbursement (Povynal), which will automate a major part of the process. The system covers all possible scenarios, including potential errors in records. Více...

Prague, 13 September 2010, The objective of the visit is the joint work of the expert group and DIF representatives on harmonising and specifying the methodology of evaluating “The Fundamental Principles of the Efficient Functioning of Deposit Insurance Systems”, drawn up by the International Association of Deposit Insurers) and the Basel Committee of Banking Supervisors). The mission is a part of the international consultation process, which is to ensure that the evaluation methodology across all of the developed countries of the world that have a deposit insurance system is sufficiently robust, comprehensive, and consistent. Více...

Prague, 13 June – The European Commission is proposing a package of measures to enhance the protection of bank account holders, small investors, and insurance company clients. According to the Commission, the main goal is to prevent another crisis and to restore trust in financial services. Více...

Prague, 6 May 2010 – The Deposit Insurance Fund will obtain performance of 1.2 billion crowns from the assets of the bankrupt Union banka. The High Court in Olomouc denied the appeal of one of the creditors against the ruling of the Regional Court in Ostrava of last October. This removed the obstacle preventing the Deposit Insurance Fund from collecting its receivable from the settlement of relations from the bankrupt Union banka. The decision is final. Více...

Prague, 3 May 2010 – The International Association of Deposit Insurers (IADI) is announcing a Week of Deposit Insurers for the fifth time. This year, it will run from 3 to 9 May and its main topic will be “Funds’ Contribution to Financial Stability”. Traditionally, the Deposit Insurance Fund is the Czech institution to participate in the event. Incidentally, the Fund organised a conference of the IADI member organisations in Prague at the beginning of the year, concerning the topic “Coping with the demands of a shortened deposit compensation disbursement period”. Více...

Prague, 22 April 2010 – At its meeting today, the Senate approved the government’s proposal of the amendment to the Act on Banks, which is significantly changing the conditions of the functioning of the Deposit Insurance Fund (DIF). The changes consist, in particular, of an increase in the maximum deposit insurance limits, the shortening of the period for the commencement of the disbursement of compensation for the insured deposits, and an increase of the contributions of the insured financial institutions. The amendment now only awaits the President’s signature. Více...