The Individuals' Deposit Guarantee Fund on July 27 decided to lift temporary restrictions on payment of funds to the depositors of JSC Delta Bank (Kyiv) within the guaranteed amount of compensation by the fund for deposits that were previously "frozen" because of signs of division, according to a press release issued by the fund.
“In particular, it is planned to remove temporary limits for payment of funds within the guaranteed amount from a significant part of blocked accounts of depositors in Delta Bank, whose number is currently about 18,000 people. More than 75 percent of the above mentioned depositors will get access to their money,” the fund said.
However, the report states the restrictions will not be lifted from payment of funds in the accounts of legal entities and individual entrepreneurs, individual insiders (related parties) and other individuals, whose deposits are not guaranteed by the fund according to the law of Ukraine on the individuals’ deposit guarantee system.
The fund said that during checks on the bank it uncovered that officers of the bank were not informed in a timely fashion of the NBU requirements regarding restrictions on operations under the contracts, which resulted in an increase in the amount of guaranteed compensation for individuals’ deposits in connection with recognizing the bank as problematic, according to an NBU decision dated October 30, 2014.
The fund said that the bankers’ lack of information about the NBU requirements on restrictions was the reason for the fund’s revising the decision to coordinate limits imposed by the authorized fund person regarding “blocked” accounts.
