Commercial bank "COMERŢBANK" JSC, in accordance with the stipulations 11 of the Regulation about informing depositors by licensed banks about guaranteeing deposits, approved by the Decision of the Deposit Guarantee Fund in the banking system nr.25/1 from 25.03.2005 and clause 9 of the Regulation about informing depositors by CB "COMERȚBANK" JSC on guarantees for deposits, informs about the guarantee of individual’s deposits in the banking system as follows:
1. General information about guaranteeing deposits
The Deposit Guarantee Fund in the banking system (The Fund) guarantees, on the terms established by the Law on Guaranteeing Deposits in the Banking System No. 575-XV dated December 26, 2003 (the Law), deposits - residents and non-residents in national and foreign currencies, opened in banks.
Location of the Foundation: 180 Stefan cel Mare Blvd., MD-2004, Chisinau mun., Republic of Moldova.
Contact Phone: + (373 22) 29-60-51.
E-mail: info@fgdsb.md .
Page Web: www.fgdsb.md
2. Types of guaranteed and non-guaranteed deposits
The Fund guarantees deposits in any form of credit balance relating to funds helded by the individual accounts or legal entities, or created by transit situations of banking operations, which must be repaid by the bank in accordance with the applicable legal and contractual conditions, as well as any debt of an individual or a legal entity in the form of a debt obligation of the respective bank. Information about the types of guaranteed deposits (banking operations) is provided in materials to inform the public about the services provided by the bank.
The credit balance should not be considered as a deposit, that serve as a guarantee for operations, which were created on behalf of the depositor by the respective bank.
The following deposits are not guaranteed:
a) deposits of management members of the bank;
b) deposits of persons holding directly or indirectly, including as a beneficial owner or owner due to concerted activity, holders the share capital of the bank (defined by Article 3 of the Banking Activities No. 202/2017);
c) former deposit owners who hold the share capital of the bank whose shares have been cancelled in accordance with the provisions of paragraph (3) of Article 156 of the Law of Financial Institutions No. 550/1995 or Article 52 of the Law of the Bank Activities No. 202/2017;
d) deposits of legal entities controlled by persons referred in paragraphs (a), (b) and (c) of this section;
e) deposits placed by other banks, including companies from other countries which do comparable banking activities, in their own name and for their own account;
f) spouse deposits, first and second degree relatives of the persons referred in paragraphs (a), (b) and (c) of this section;
g) deposits of third persons acting on behalf of persons referred to in paragraphs (a), (b) and (c) of this section;
h) deposits opened by non-bank credit institutions, including leasing companies and mortgage lending institutions;
i) deposits opened by savings and loan associations and central associations;
j) insurance company’s deposits;
k) investment firm’s deposits;
l) deposits declared illegal by a court decision. The Fund suspends deposit payment for persons against whom was determined a claim about legitimacy of deposits, the decision on which has not entered into final force;
m) the holder of the deposit which was not identified on the date the deposits became unavailable;
n) bearer debt obligations;
o) all instruments related to the concept of the bank's own funds.
Deposits of individuals who run business are not covered by the Law.
3. Amount of deposit guarantee
The guarantee ceiling – absolute guaranteed deposit amount of the depositor in a bank.
The guarantee limit (the maximum amount payable to the depositor) is 50 000 Moldovan Lei, regardless of the number, size or currency of the bank deposits.
4. Process of Calculating the Guaranteed Amount
The total amount of the bank's liabilities to one depositor is calculated by summing up all its deposits, including due and unpaid interest, on the date of establishment of the situation when the deposits cannot be paid by the bank. In the case when the bank holds a debt obligation of the depositor, the total amount of the bank's obligations to this depositor is reduced by the amount of overdue and unpaid debt of the depositor to this bank.
In case of a joint deposit, each part of deposit holder stipulated in the contract is taking into consideration when is calculating the total amount of the bank's liabilities according to the guarantee limit, which is discribed in Article 3 of this information. In the absence in the deposit agreement of such a statement, the joint deposit shall be divided into equal parts for each owner.
Deposits in foreign currency are paying equivalent in Moldovan Lei, calculated at the official exchange rate of Moldovan Lei against the respective currency on the date of establishment of the situation, when the deposits cannot be paid by the bank.
Note:
1. Liquidator – a person appointed by the National Bank of Moldova, which has the exclusive power to manage and control the bank in the process of forced liquidation of the bank due to insolvency.
2. Joint deposit – a deposit created by two or more persons or a deposit, which two or more persons have the right to operate under the signature of one or more persons who have created the deposit.
5. Payment compensations
The Fund can authorize (empower) one or more banks to make payments on the guaranteed deposits.
The payment of the guaranteed deposits starts within a period that not exceeding seven days from the date of receipt from the liquidator of the list of claims on the guaranteed deposits, in accordance with Article 20 paragraph (1) of the Law. In exceptional circumstances and in special cases, the Fund may extend this term with the consent of the Government, but not more than thirty days.
The Fund cannot refer to the mentioned time limits when denying the payment of the guaranteed deposits to the persons, who couldn’t apply for guarantee in time.
Note: The bank, against which the process of forced liquidation was initiated, send to the Fund the List of guaranteed deposits within five days from the date of navailability of deposits.
6. Obtaining Compensations
Compensation is received by the owners of the deposits. Compensation for deposits opened in favor of a minor is made by his/her parents, adoptive parents or guardians/guardians.
Payment of guaranteed deposits can be made by other persons in accordance with the legislation of the Republic of Moldova (based on power of attorney, certificate of inheritance, etc.).
If the amount of the bank's liability to the depositor is less than the guaranteed ceiling, the Fund will compensate to depositor the amount of the bank's liability.
If the size of the obligation is greater than the level of the guaranteed ceiling, the Fund will compensate to the depositor the equal level of the guarantee ceiling.
7. Informing depositors
When the bank cannot pay the deposits, that means that they cannot be repaid by the bank, which against the instruments of resolution have been applied/the liquidation process has been initiated, in all the separate subdivisions of this bank and the Fund will publish information on the payment of deposits that cannot be paid by the bank in at least two central newspapers, the period of payment, and mention there the name of the bank authorized to make payments if necessary, the conditions and formalities for receiving guaranteed deposits.
