Deposit Guarantee Fund's resources in Ukraine shrink by almost 19% to US$486.6 mln as of Jan 1

Financial resources available to the Deposit Guarantee Fund (DGF) of Ukraine as of January 1, 2020, totaled UAH 11.668 billion (US$486.6 million), which was 18.6%, or UAH 2.671 billion (US$111.4 million) down from the figure reported as of January 1, 2019.

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The resources grew by UAH 1.235 billion (US$51.5 million), or 11.8%, in December alone, according to the DGF.

Regular proceeds in 2019 totaled UAH 3.693 billion (US$154 million). As reported, there are 74 participating banks in the Fund's register.

The Fund also continues the liquidation procedure at 61 banks declared insolvent from 2014 to 2018, the report said.

UNIAN memo. The Deposit Guarantee Fund's financial resources in 2018 shrank by 0.1%, to UAH 14.339 billion (US$598 million).

Ukraine's Deposit Guarantee Fund was established in 1999, becoming a state-owned specialized institution that performs the functions of state management in the field of guaranteeing deposits of individuals and removing insolvent banks from the market.

The guaranteed amount of deposits was set at UAH 200,000 (US$8,340) per bank account in October 2012.