Zelenskyy Approves State Guarantee Of 100% Of Citizens' Deposits In Banks For Period Of War

President Volodymyr Zelenskyy has signed a law of the state guaranteeing 100% of citizens' deposits in banks for the period of the war.

Member of the Verkhovna Rada from the Servant of the People faction, chairman of the parliamentary committee on finance, tax and customs Danylo Hetmantsev wrote this on the Telegram channel, Ukrainian News Agency reports.

"The President of Ukraine signed the Law of Ukraine "On Amendments to Some Laws of Ukraine to Ensure the Stability of the System for Guaranteeing Deposits of Individuals", No. 2180-IX of April 1, 2022," he wrote.

The law guarantees 100% reimbursement of all deposits during the war.

This rule applies to banks whose decisions on withdrawal from the market will be made after the entry into force of this law.

Three months after the termination or abolition of martial law, the guaranteed amount of deposits will double: from the current UAH 200,000 to UAH 400,000, and from January 1, 2023 - to UAH 600,000.

This will apply to banks that will be declared insolvent after the entry into force of these norms.

Oschadbank joining the Deposit Guarantee Fund introduces competitive conditions for all banks in Ukraine.

This complies with international standards, which provide for mandatory participation in the system of guaranteeing all bank institutions attracting deposits, and also opens up new opportunities for Oschadbank to attract investments from the European Bank for Reconstruction and Development into capital.

Oschadbank's accession to the fund was laid down in the legislation back in 2001 in the final provisions of the Law "On the System of Guaranteeing Deposits of Individuals."

As Ukrainian News Agency earlier reported, on March 18, Zelenskyy initiated the state guaranteeing 100% of citizens' deposits in all Ukrainian banks.