Covered deposits at the end of 2017

FGDB guarantees the deposits of all natural persons, as well as those of legal persons, regardless of the size of the latter.
If a bank enters into difficulty and its deposits become unavailable or the bank is subject to a resolution measure, each depositor is fully guaranteed for any amount less than or equal to 100,000 euros, in RON equivalent, and those with deposits larger than this ceiling benefit from the coverage of 100,000 euros.
As at 31 December 2017, the eligible (guaranteed) deposits totaled RON 267.4 billion, posting an increase of RON 25.7 billion as compared with the end of 2016 (annual variation of +10.6%). The eligible deposits maintained a weight of over 80% from the total value of deposits with the 28 FGDB-member credit institutions, Romanian legal persons authorized by the National Bank of Romania.
The covered deposits represent almost two thirds of all eligible deposits, with an increase of RON 14 billion, up to RON 172.7 billion at the end of 2017. This annual gain was mainly due to the positive evolution of the population’s covered deposits which headed higher with over RON 10 billion.
In relation to the covered deposits, the resources for deposit guarantee stayed well above the required EU standards, at 3.1% as at 31 December 2017. According to the European directive on deposit guarantee schemes, by 2024 all deposit guarantee schemes in the Member States must attain a minimum target level of 0.8% of the total value of covered deposits.
In 2017, the eligible deposits revealed a positive dynamics, with increases recorded in all components (deposits of natural and legal persons, deposits in RON and foreign currency, deposits under and above the coverage ceiling).
The natural persons held deposits amounting to RON 159.6 billion at end-2017, exceeding by 8% their level as at 31 December 2016. The growth was principally due to the rise in the deposits with lower values than the coverage ceiling, both in national and foreign currency.
The total amount of the natural persons’ covered deposits stood at RON 142.7 billion at the end of 2017 (+8.1% as compared to the level of 31 December 2016). Covered deposits represented 89.4% of the total value of natural persons’ eligible deposits.
The legal persons’ eligible deposits recorded a significant increase in 2017, inching up to RON 107.9 billion as at 31 December 2017 (annual variation of +14.8%). This increase was mainly due to the gain in the deposits in national currency. At year-level, the legal persons’ covered deposits leapt by 12.6%, reaching RON 30 billion as at 31 December 2017.
For the purposes of the law governing the FGDB’s activity, the concept of deposit covers any credit balance, including accrued interest, resulted in funds held in an account or from transitory situations arising from transactions in banks, such as term deposits, the current accounts, the savings accounts, the card accounts, the joint accounts and other similar products.
Deposit categories excluded from the guarantee are set out in Annex 1 of Law 311/2015 on deposit guarantee schemes and the Bank Deposit Guarantee Fund.
The data regarding deposits can be found on FGDB’s website in the Statistics section.

9 March 2018