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Informatory on Operations
Legal Framework
Laws

Law on the Deposit Insurance Agency ("RS Official Gazette", No. 61/2005,116/08 and 91/2010)

Law on Deposit Insurance ("RS Official Gazette", No. 61/2005,116/08 and 91/2010)

Law on Bankruptcy and Liquidation of Banks and Insurance Companies ("RS Official Gazette", No. 61/2005,116/08 and 91/2010 )

Law on Bankruptcy Proceedings

Privatisation Law ("RS Official Gazette", No. 38/1, 18/03, 45/05, 123/07 and 30/10)

Decisions

Decision on Determination of the Contents of the Template for the Report on Balance of Deposits of Large Legal Entities Submitted to the Agency by Banks ("RS Official Gazette", No. 84/11)

Decision on Premium Rate for 2012 ("RS Official Gazette", No. 76/11)

Decision on Manner of Computation and Collection of the Default Interest on Untimely Paid Banks' Obligations Based on Deposit Insurance Premium ("RS Official Gazette", No. 6/2009)

Decision on Establishing Manners and Deadlines for Computation and Collection of Initial Insurance Premium ("RS Official Gazzete", No. 6/09)

Decision on Establishing Procedure for the Selection of the Payout Bank for Insured Deposits

Decision on Premium Rate for 2011 ("RS Official Gazette", No. 64/10)

Decision on the Content of the Report that Banks Submit to the Agency and Manners and Deadlines for Computation and Collection of the Insurance Premium for Deposits ("RS Official Gazette" No. 001/11)

Decision on Premium Rate for 2010 ("RS Official Gazette", No. 83/09)

Decision on Premium rate for 2009 ("RS Official Gazette", No. 6/09)

Decrees

Rules on the Contents and the Manner of Provision of the Information about Deposit Insurance provided by Banks to Their Customers

Decree on Manner and Conditions of Settling the Commercial Companies' Obligations Towards the Creditors from the Funds Realised from the Sale of a Commercial Companiy's Shares Owned by the Share Fund of Republic of Serbia

Strategy for Banks

FAQ
 1.       What is the insured deposit?
 
An Insured deposit is a deposit representing every Dinar or foreign currency depositor’s claim against a bank(deriving from a money deposit, a savings deposit, a current account or any other account)which is insured by the Agency in accordance with the existing legal provisions.
 
 2.       Whose deposits are insured?
 
Insured deposits are the deposits of :
  • Natural persons,
  • Entrepreneurs,
  • Small legal entities
  • Medium-sized legal entities.

 

 3.       Which deposits are not insured?
The following deposits are not subject to deposit insurance:
  • Deposits of legal and natural persons connected with the bank, according to the law governing banks;
  • Coded or bearer deposits;
  • Deposits arising from transactions used for money laundering or for funding terrorism;
 
 4.       Which banks are obligated to insure deposits and who pays for this type of insurance?
 
All banks licensed by the National Bank of Serbia are bound to insure deposits and pay insurance premiums at regular intervals.
Only banks (not the depositors) have the obligation to pay deposit insurance premiums.
Guaranteed deposit insurance is free of charge for depositors.
 
 5.       What happens when bankruptcy proceedings are initiated against a bank?
 
The Agency shall inform all depositors through the mass media about the selected payout bank, the date of starting repayments, the manner and the location where the insured amounts will be paid out. Pursuant to applicable regulation, the the repayment of insured deposits shall start within 3 days from the date the National Bank of Serbia rendered the decision on instituting of bankruptcy proceedings over the bank.
 
 6.        Is a request for payment required?
Yes, each depositor must submit a written request to the payout bank. The request should include the following:
1. If the depositor is a natural person:
  • Your personal data (name, surname, date and place of birth, place of residence – street and number, unique personal number),
  • Total amount of deposit claimed and the preferable method of payment (cash/transfer to another account).
 
2. If the depositor is an entrepreneur or small or medium-sized legal entity:
 
  • Data concerning the firm, i.e. legal entity (name, address, ID number, tax identification number),
  • Total amount claimed and the preferable method of payment (cash/transfer to another account)
 
Apart from the written request, claimants should also submit the following supporting documents: attested current account, drawing account and/or foreign currency account contract, savings account contract, attested savings book, decision on inheritance or other legally prescribed documents along with an identification document.
 
 7.       Where can I get the request for payout of insured deposit?
At all paying places of selected payout bank you can get the request for payout of insured deposit.
 
 8.       What is Insured amount?
Insured amount is insured deposit amount up to EUR 50.000 in dinar counter value by the official middle exchange rate, which is valid on a day of rendering decision of National bank of Serbia on revoking bank’s operating license, by the depositor, established after settlement of claims between depositor and a bank.
 
 9.       In which currency are insured amounts paid out?
Insured amount for deposits made in RSD is paid out in RSD and for those made in foreign currency the insured amount is paid out in EUR at the Euro rate of exchange with the given currency on the day the National Bank of Serbia made a decision to instigate bankruptcy proceedings.
 
 10.   What is a net claim?
Net claim is the amount payable to an individual depositor. It is determined following the set-off of depositor’s claim against his total due financial obligations towards the bank. It is calculated applying the following formula:
 
 Total deposits per depositor in the bank
 +  accured interest (untilthe day the bank’s operating licence was revoked)
 -  all due liabilities of the depositor(loans, current account overdraft, etc.)
= depositor’s net claim
 
 11.   What happens if the net claim exceeds the insured amount?
If depositor’s net claim exceeds EUR 50,000 in RSD countervalue, the remaining amount is paid to the depositor in the course of bankruptcy proceedings.
 
Example : The determined amount of net claim is EUR 60,000. In this case, the Agency will pay the depositor EUR 50,000 in the legal timeframe. The depositor may claim the remaining uncollected amount (EUR 10,000) from the bank’s bankruptcy estate.
 
 12.   Is my deposit insured even in the case of bank liquidation?  
Yes. The Law on Bankruptcy and Liquidation of Banks and Insurance Companies (“Official Gazette of the RoS”, Nos. 61/05, 116/08) is harmonized with the Law on Deposit Insurance.
 

Contacts
Deposit Insurance Agency
Knez Mihailova 2-4
Tel: 011 / 2075 100
       011 / 2075 101
fax: 011 / 3287 741
E-mail: info@aod.rs

Deposit Insurance Sector
011 / 2075 105
011 / 2075 126
011 / 2075 132
E-mail: depozit@aod.rs

Salo of Capital Sector
011 / 2075 120

Bankruptcy and Liquidation Sector
011 / 2075 116

Collection of Claims Sector
011 / 2075 130
011 / 2075 129
011 / 2075 128

Finance and Accounting Department
011 / 2075 104
 
Legal and General Affairs Department
011 / 2075 125
 
IT Department
011 / 2075 131

Links
Domestic Institutions



Association of Serbian Banks
Belgrade Stock Exchange
Chamber of Commerce of Serbia
CSD and Clearing House
Ministry of Finance
National Bank of Serbia
Privatisation Agency
Republic Of Serbia Securities Commission
Share Fund

International Institutions

European Bank of Reconstruction and Development - EBRD
European Forum of Deposit Insurers
International Association of Deposit Insurers
International Finance Corporation - IFC
KfW Frankfurt am Main
Swedish International Development Cooperation Agency - Sida
The State Secretariat for Economic Affairs of Switzerland - SECO
The World Bank
U.S. Department of the Treasury
Uk Department for International Development - DFID

International Deposit Insurance Agencies

Albania
Austria
Belgium
Bosnia and Herzegovina
Bulgaria
Canada
Croatia
Cyprus
Czech Republic
Danmark
Estonia
Finland
France
Germany
Great Britain
Greece
Hungary
Iceland
Ireland
Lithuania
Luxemburg
Macedonia
Montenegro
Netherlands
Norway
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
Switzerland
Taiwan
Turkey
Ukraine
USA

Domestic Banks

AIK BANKA A.D. Niš
ALPHA BANK SRBIJA A.D. Beograd
BANCA INTESA A.D. Beograd
BANKA POŠTANSKA ŠTEDIONICA A.D. Beograd
CREDIT AGRICOLE BANK SERBIA A.D. Novi Sad
CREDY BANKA A.D. Kragujevac
DUNAV BANKA A.D. Zvečan
ČAČANSKA BANKA A.D. Čačak
ERSTE BANK A.D. Novi Sad
EUROBANK EFG Štedionica A. D. Beograd
FINDOMESTIC BANKA A.D. Beograd
HYPO ALPE-ADRIA-BANK A.D. Beograd
JUBMES BANKA A.D. BEOGRAD
KBC BANKA A.D. BEOGRAD
KOMERCIJALNA BANKA A.D. Beograd
MARFIN BANK A.D. BEOGRAD
MOSKOVSKA BANKA A.D. BEOGRAD
NLB BANKA A.D. Beograd
OPPORTUNITY BANKA A.D. Novi Sad
OTP BANKA SRBIJA A.D. Novi Sad
PB AGROBANKA A.D. Beograd
PIRAEUS BANK A.D.Beograd
PRIVREDNA BANKA BEOGRAD A.D. Beograd
ProCredit Bank A.D.Beograd
RAIFFEISEN BANK A.D. Beograd
RAZVOJNA BANKA VOJVODINE A.D. Novi Sad
SOCIETE GENERALE BANKA SRBIJA A.D. BEOGRAD
SRPSKA BANKA A.D. Beograd
UNICREDIT BANK SRBIJA A.D. Beograd
UNIVERZAL BANKA A.D. Beograd
VOJVOĐANSKA BANKA A.D. Novi Sad
VOLKSBANK A.D. Beograd

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July 25, 2011

PUBLIC INVITATION FOR SUBMISSION OF APPLICATIONS FOR THE FIRST STAGE OF RESTRICTIVE PROCEDURE FOR THE SELECTION OF PAYOUT BANK



Pursuant to Article 72, paragraph 1, item 2 of Public Procurement Law (“Official Gazette of the Republic of Serbia”, No. 116/08) and the Decision of the Managing Board of the Deposit Insurance Agency No. OD-124/11 of 1 July, 2011
 
Deposit Insurance Agency
Knez Mihailova 2, 11000 Belgrade
 
announces
 
PUBLIC INVITATION
for submission of applications for the first stage of restrictive procedure
for the selection of payout bank
 
JN: OD-1/11
 
 
1. The subject of the present public procurement is the selection of the bank for payout of deposits of individuals, entrepreneurs, and small and medium-sized entities in case of a bank failure, in accordance with the Law on Deposit Insurance (“Official Gazette of the RoS”, Nos.  61/05, 116/08, and 91/10). The Ordering Party is the Deposit Insurance Agency, having its place of business at Knez Mihailova 2, Belgrade.
 
2. The purpose of the qualification procedure: in the first stage of restrictive procedure, the Ordering Party invites all interested banks to submit their applications. Following the qualification procedure and in the manner specified in the bidding documents, the Ordering Party shall make a short list of qualified applicants (candidates) to be invited to submit their bids in the second stage of the procedure.
 
3. All banks licensed by the National Bank of Serbia which meet the conditions stipulated in Article 44, paragraph 2 of Public Procurement Law as well as the requirements specified in the bidding documents are eligible to take part in the procedure. The compliance with the requirements shall be proved by providing evidence referred to in Article 45 of the above law and the documents and forms included in the bidding documents.
 
4. As from the day of publication of the public invitation in “Official Gazette of the RoS”, the bidding documents may be inspected by the authorized representatives of the interested banks at the address of the Ordering Party, room 217, every working day from 9.00 to 15.00.  
 
5. Interested banks may purchase the bidding documents upon payment of a fee of RSD 5,000 onto the Ordering Party’s current account No.: 840-967627-69, purpose of payment: “Purchase of Bidding Documents No. JN: OD-1/11”. The applicants may collect the bidding documents at the Ordering Party’s address, every working day from 9.00 to 15.00, by presenting the evidence of payment of the amount specified for the purchase of bidding documents. The Ordering Party’s address:
 
Deposit Insurance Agency
11000 Belgrade
Knez Mihailova 2
2nd floor, room 217
 
At the applicant’s request, the bidding documents may be mailed or emailed to the applicant’s address upon submission of the proof of payment of the fee.
 
6. Applications must be delivered no later than 25 (twenty-five) days following the announcement of the public invitation in “Official Gazette of the RoS”, by 12.00 on the last day of submission. If the last day is not a working day, the deadline shall be extended to 12.00 on the next business day.
Applications shall be delivered either directly or by mail at the Ordering Party’s address, as specified in item 5 of this Invitation. Applications shall be submitted in a closed and sealed envelope, duly labeled as “Application for the first stage of restrictive procedure for the selection of payout bank, PP:   ОD-1/11 – DO NOT OPEN“. The applicant’s name and address must be indicated on the back of the envelope. Applications shall be written in Serbian and submitted in two copies.
 
7. Opening of applications is public. It may be attended by the applicants’ representatives upon submission of a written authorization. The public opening shall take place on the last day of the deadline for submission of applications, at 12.15, at the Ordering Party’s address, referred to in item 5 of the Invitation, at the conference room on the 1st floor. 
 
8. The deadlines in the public procurement procedure shall be considered according to the date of the announcement of the public invitation in “Official Gazette of the RoS”. The first day of the timeframe for the submission of applications shall be the first day following the announcement of public invitation in “Official Gazette of the RoS”. If the last day of the deadline is a non-business day, the deadline shall extend to the next business day. Non-business days shall be Saturdays, Sundays and public holidays. All applications received by the Deposit Insurance Agency by the specified deadline shall be considered timely, regardless of the manner of their submission. Late applications will be rejected and returned unopened to the applicants upon the completion of the application opening procedure.  
 
9. Qualification and selection of candidates shall be acknowledged on the basis of the information submitted by applicants, in accordance with the criteria and sub-criteria for the acknowledgement of qualifications specified in the bidding documents.   
 
10. The Ordering Party shall in due course make a list of qualified candidates and set the period in which the applicants’ qualifications are acknowledged. This period cannot exceed two years and the Ordering Party retains the right to shorten the said period and conduct a new procedure for qualification acknowledgement. The Ordering Party shall inform all applicants in writing and in legal timeframe about the decision on the list of candidates with acknowledged qualifications and the period in which their qualifications will be acknowledged.   
 
11. All additional information or clarifications concerning the preparation of applications may be requested by applicants only in writing and labeled as: “Clarification regarding the public procurement for the selection of payout bank, JN: ОD-1/11“, sent at the Ordering Party’s address, faxed at 011/3287-926 or emailed to depozit@aod.rs not later than five days before the expiry of the deadline for submission of applications.
 
12. This public invitation shall be published in “Official Gazette of the RoS”, the daily newspaper Politika, on the Deposit Insurance Agency’s website  and on the public procurement portal.