Abstract

The Act of 14 December 1994 on the Bank Guarantee Fund, which has been in force for over 20 years now, eliminated the limited liability of the State Treasury for savings deposits in banks and introduced the universal system of deposit guarantees by the Bank Guarantee Fund, which is a legal person governed by public law. The above system extends also to funds deposited by members of cooperative savings and loan unions, and covers claims up to the amount of EUR 100,000. Claims exceeding that amount are asserted by depositors according to the principles and procedures regulated by the bankruptcy law.