On 19 February 2014 the Chairman of the Bulgarian Deposit Insurance Fund Rossen Nikolov and the Director of the Hellenic Deposit & Investment Guarantee Fund Georgia Karageorgi signed a bilateral agreement at BDIF premises in Sofia.
The objectives of the Agreement are to facilitate and encourage good relations between the Hellenic Deposit & Investment Guarantee Fund (HDIGF) and the Bulgarian Deposit Insurance Fund (BDIF), including coordination of mass communication activities, the efficient handling of inquiries regarding the payout, communication with depositors and provision of information in relation to a bank failure.
Under the Agreement BDIF will serve as a ‘post-box’ for HDIGF with regard to HDIGF’s member banks operating a branch in Bulgaria. In compliance with the Greek legislation, in the event of a bank failure, HDIGF has the responsibility to carry out the repayment of compensation to depositors with the Bulgarian branch. Therefore BDIF will support HDIGF in the discharge of its functions by acting on behalf of HDIGF in the provision of information to depositors and mass media and in the handling of enquiries regarding the payout. In addition, HDIGF commits to select an appropriate manner for the payout in Bulgaria of the deposits with the failed bank.
Ensuring coordinated efforts in reaching depositors with clear and prompt information, the Agreement contributes to financial stability in both countries.
Back The objectives of the Agreement are to facilitate and encourage good relations between the Hellenic Deposit & Investment Guarantee Fund (HDIGF) and the Bulgarian Deposit Insurance Fund (BDIF), including coordination of mass communication activities, the efficient handling of inquiries regarding the payout, communication with depositors and provision of information in relation to a bank failure.
Under the Agreement BDIF will serve as a ‘post-box’ for HDIGF with regard to HDIGF’s member banks operating a branch in Bulgaria. In compliance with the Greek legislation, in the event of a bank failure, HDIGF has the responsibility to carry out the repayment of compensation to depositors with the Bulgarian branch. Therefore BDIF will support HDIGF in the discharge of its functions by acting on behalf of HDIGF in the provision of information to depositors and mass media and in the handling of enquiries regarding the payout. In addition, HDIGF commits to select an appropriate manner for the payout in Bulgaria of the deposits with the failed bank.
Ensuring coordinated efforts in reaching depositors with clear and prompt information, the Agreement contributes to financial stability in both countries.
