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General Information

BDIF Constitution, Functions and Operation

The Bulgarian Deposit Insurance Fund (BDIF) is a legal entity, established under the Law on Bank Deposit Guarantee and functioning since January 1999.

The BDIF activity aims at maintaining the stability of and the public confidence in the banking system. Its major functions include:

  • determining and collecting initial and annual contributions from all banks participating in the deposit insurance system;
  • investing its funds in securities issued or guaranteed by the state, short-term deposits with commercial banks authorised as primary dealers of government securities, and deposits with the Bulgarian National Bank (BNB);
  • repaying in-full the insured deposit amounts of physical persons and legal entities up to BGN 100,000 (EUR 51,129);
  • protecting creditors' interests and controlling trustees' activities under the terms of the Law on Bank Bankruptcy, effective as of 28 December 2002.

The BDIF is managed by a Management Board, consisting of five members.

The BDIF is a founding member of the International Association of Deposit Insurers as well as of the European Forum of Deposit Insurers.