FUNCTIONING FEATURES OF INVESTMENT GUARANTEE FUND FOR INDIVIDUALS IN MODERN CONDITIONS

Abstract

The system of guaranteeing deposits of individuals has a significant impact on the stability of the banking system, the system is able to neutralize the consequences of crises by preventing panic among depositors.The functions of the state guarantee of deposits of individuals in Ukraine are performed by the Fund of Guarantee of Deposits of Individuals.The mechanism of functioning of this system is gradually being improved under the influence of crisis phenomena in the economy of Ukraine.A new stage of its development was the adoption in 2022 of the Law "On Amendments to Certain Laws of Ukraine on Ensuring the Stability of the Deposit Guarantee System of Individuals". The action of this law is aimed at increasing public confidence in the banking system of Ukraine, ensuring its stability, and protecting the rights of bank depositors.The main innovations were changes to important deposit guarantee rules:the guaranteed amount of compensation for bank deposits is now the full amount of the deposit, taking into account the interest accrued as of the end of the day preceding the start of the procedure for withdrawing the bank from the market;
PJSC "State Savings Bank of Ukraine" is included in the members of the Individual Deposit Guarantee Fund on a par with all other commercial banks;the sources of the formation of the Fund's resources have been expanded at the expense of loans obtained from the National Bank of Ukraine,income received from the Fund's provision of financial support in the form of a loan to the receiving or transiting bank.The main advantage of the new legislation in strengthening depositors' confidence in the banking system is the full guaranteed amount of deposit refunds.Therefore, of course, the analyzed changes that were introduced to the system of guaranteeing deposits of natural persons are positive, the main purpose of these changes, in addition to supporting the financial system, is that the state is ready for a possible worsening of the situation on the financial market and to support its citizens.