2007. July • 9.

One of the main tasks of the fund is to reimburse insured deposits in case the deposits are frozen in a member institution. Since HUF 6 million is the upper limit of the reimbursement (principal and interest, together) primarily small depositors enjoy the benefits of the deposit insurance scheme. In Hungary, Act XXIV of 1993 on the establishment and operating regulations of the National Deposit Insurance Fund of Hungary was passed by Parliament on March 31, 1993. At the same time the fund was registered as a legal entity and started operation on July 1, 1993. The principles of the Deposit Insurance Act have been laid down in accordance with the relevant guidelines of the European Union.

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