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Cooperation with the Bank Guarantee Fund of Poland

On March 25 2011, the Deposit Guarantee Fund of Ukraine and the Bank Guarantee Fund of Poland signed the Memorandum of Understanding in order to enhance the understanding and development of the major aspects of deposit insurance through international cooperation and participation in global discussions of regulatory policies in the field.

According to the Memorandum, the Parties will exchange views on the economic situation and economic policies in their countries, and launch a dialogue with the purpose to contribute to the financial stability and sustainable growth in their countries.

Seminar: the Major Functions of the Deposit Insurance Systems and their Role in Ensuring Financial Stability, March 2011, Kyiv City, Ukraine

On March 25 2011, the Seminar ‘The Major Functions of the Deposit Insurance Systems and their Role in Ensuring Financial Stability’ was held in Kyiv with the purpose to enhance the cooperation, and support the exchange of views and experience between the Deposit Guarantee Fund of Ukraine and the Bank Guarantee Fund of Poland.

The participants discussed the systems of deposit insurance management in their countries, payout procedures, bank monitoring, risk management provisions, etc.

The Polish colleagues shared their experience of providing financial assistance to and monitoring banks, running reorganization and restructuring programs, etc. The participants discussed some major legal aspects to deposit insurance, payout procedures, on-site and off-site bank monitoring and effective employment of the monitoring findings.

The Ukrainian participants presented the mechanism of payout through agent banks, the major data requirements to the banks with regard to household deposits, the system of maintaining the member (temporary member) bank register, the current reform of the deposit guarantee system in Ukraine and the IT systems of the Fund.