State Oschadbank will enter the Deposit Guarantee Fund for Individuals (FGVFL) from January 1, 2021.

This decision was made by the Financial Stability Council, the press center of the National Bank reports..

For Oschadbank, relevant legislation and a transitional period will be developed until December 31, 2023. The NBU explained that this is due to the need to pay significant contributions to the Fund due to the large deposit portfolio.

The NBU believes that participation in the Individuals Guarantee Fund will help Oschadbank to attract a foreign investor and modernize faster.

Oschadbank was supposed to become a member of the Individual Deposit Guarantee Fund from July 1, 2020. In June, Deputy Head of the NBU Katerina Rozhkova announced that Oschadbank's entry into the FGVFL was postponed.

Now the deposits of Oschadbank depositors are guaranteed by the state in full, t. 100% regardless of the amount. After joining the FGVFL, the amount of the guaranteed amount for new depositors will be UAH 200,000. LIGABiznesInform informs about it.