The law on 100% insurance of funds in individual deposit accounts enacted

On 13 April 2022, the law providing one hundred percent insurance to bank deposits for the duration of martial law and for the period of three months after it ends has entered into force.

For the duration of martial law in Ukraine and for the period of three months after it ends or is lifted, the Individual Deposit Insurance Fund (IDIF) will compensate to every bank depositor the full amount of funds in their deposit account, including interest assessed as of the end of the day preceding the date of launching the procedure of removing the bank from the market, with the exception of cases mentioned in Article 26 (4) of the Law of Ukraine on the Individual Deposit Insurance System.

Upon expiration of three months after the end or lifting of martial law in Ukraine, the insurance limit for individual deposits cannot be lower than 600 thousand hryvnias, and can be raised by a decision of the IDIF Administrative Board.