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March 1, 2021

Guarantee for bank deposits hiked at EUR 100,000

The level of the guarantee for bank deposits will be hiked from EUR 50,000 to 100,000, both for individuals and legal entities, the Ministry of Public Finance decided. The Government underwrites, through the banking system, bank deposits for both natural and legal persons, but the level of the guarantee offered is a minimal one, that is, EUR 100,000, which the banks may hike to draw more money in the banking deposits system. This may also reflect negatively on the 2012 budget, estimated at RON 590 M.

According to figures centralised by the Banking System Deposits’ Guarantee Fund (FGDSB), at the beginning of September 2010, an additional 1,000 Romanians were reported in the banking records, with deposits of over EUR 100,000.

The total value of deposits made by well-off Romanians at banks amounted, by mid-2010, to the equivalent of EUR 4 bln, while the value of underwritten deposits over EUR 100,000 rose, in Q2, by 4.4 per cent, as compared to Q1.

On the other hand, loans in RON granted to the population by credit institutions amounted, at the end of November, to RON 36.176 bln, while foreign currency loans amounted to RON 65.608 bln, according to figures centralised by the National Bank of Romania. Furthermore, deposits made by non-governmental resident clients rose, in November 2010, by 1.9 per cent as compared to October, up to over RON 172.084 bln.

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