Deposit Guarantee Fund's fiscal resources 25% down in March
The total amount of funds accumulated by the Individuals' Deposits Guarantee Fund in March 2017 narrowed by 25.38% compared to the previous month, being UAH 11.803 billion as of April 1, 2017, the fund has reported on its website.
In January-March 2017, the fund's fiscal resources declined by 22.92% (from UAH 15.316 billion as of January 1, 2017).
As of the beginning of April 2017 some 93 banks were participants in the fund (95 banks a month earlier), while as of early January – 99 banks.
According to the report, the fund as of March 1 of the current year had paid UAH 82.216 billion to the depositors of insolvent banks.
As reported, the memorandum signed between the Ukrainian government and the International Monetary Fund (IMF) foresees the issue of government bonds worth up to UAH 98 billion, or 3.6% of GDP, in 2017 to handle additional capitalization of banks and the Individuals' Deposit Guarantee Fund in Ukraine. The document posted on the IMF's website does not elaborate on the list of such banks and amounts of additional capitalization of the fund.