The deposits guaranteed in 2018 increased from 3.074 billion lei to 7.451 billion lei or 2.4 times. The number of depositors whose deposits are guaranteed is of over 4 million. The figure last year rose by almost 198,000, shows a report for 2018 presented by the bank deposit guarantee fund, IPN reports.

The financial resources intended for guaranteeing private individuals’ deposits in the banking system that were accumulated in the fund totaled over 547 million lei by December 31, 2018. As a result of the withdrawal of the licenses of the banks under liquidation, there were paid guaranteed deposits of over 50 million lei.

In the course of last year, the bank deposit guarantee fund collected over 60 million lei in quarterly contributions from licensed banks. The revenues from investment activity came to more than 28.7 million lei.

The available resources of the fund at the end of 2018 totaled 497.6 million lei, representing 6.7% of the deposits in the banking system.

The fund was constituted as a legal entity of public law on July 1, 2004 to guarantee deposits in the licensed banks. The guarantee ceiling on January 1, 2018 was raised from 6,000 lei to 20,000 lei.

The Parliament’s commission on economy, budget and finance took note of the bank deposit guarantee fund’s report for 2018.