Regulatory Alerts1996-01-01
Act on Deposit Protection and Amending Certain Laws
The National Council of the Slovak Republic enacted this Act to establish a statutory deposit protection scheme and a Deposit Protection Fund to compensate depositors when bank deposits become unavailable. The legislation mandates that banks and eligible foreign bank branches participate in the scheme by paying initial, annual, and extraordinary contributions to fund these compensations. It further defines eligible deposits, sets compensation limits, and outlines the procedures for declaring a bank unable to repay deposits and suspending related financial operations.
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