Deposit Insurance Fund holds 25 billion denars
Payouts cover up to €30,000 per depositor per bank and start after the NBRM governor revokes a bank licence.
The Deposit Insurance Fund currently holds 25 billion denars, or more than €400 million, the institution confirmed to local media.
Under the Fund's rules, the maximum insured payout for private individuals is €30,000 per depositor, per bank.
Deposits excluded from coverage
The Fund does not compensate certain categories of deposits. These include:
- deposits that received preferential interest terms different from those published by the bank, the branch of a foreign bank or the savings bank;
- deposits of depositors who own more than 5% of the shares with management rights in the bank, the branch of a foreign bank or the savings bank;
- deposits of members of the management bodies of the bank, the branch of a foreign bank or the savings bank;
- deposits of first‑degree relatives of depositors referred to in points 2 and 3;
- deposits connected to transactions involving money laundering if the offender has been convicted and the sentence is in force.
If a depositor has liabilities towards the bank, branch or savings bank, the total amount of that depositor's deposits is reduced by the amount of those liabilities when calculating compensation.
Payouts are triggered only after the Governor of the National Bank of the Republic of North Macedonia (NBRM) revokes a licence for establishment and operation of a bank or savings bank under the Law on Banks. The Fund begins compensating insured deposits within 20 days from the finality of the governor's decision; in exceptional circumstances it may extend that deadline by up to ten days.
Photo: press material from the event
