Excluded deposits
Excluded deposits
Excluded deposits
Deposits excluded from deposit insurance are the following:
- deposits arising out of transactions that have been declared illegal by court decision and that are not subject to any further appeal;
- deposits kept in any account whereby the account title is not transparent as to its ownership or any non-nominative deposit;
- deposits kept in a bank’s safe deposit box;
- deposits held in any kind of safekeeping custody arrangement with a bank, except earmarked deposit;
- deposits deposited by other domestic or foreign banks on their own behalf and for their own account;
- deposits from domestic or foreign government bodies;
- deposits from domestic or foreign insurance companies;
- deposits from domestic or foreign undertakings for collective investment;
- deposits from domestic or foreign pension and retirement funds not considered as a government body;
- deposits of persons in special relation with the bank as regulated by the Entity banking laws;
- deposits from companies in the same group as a member bank;
- deposits for which the depositor has obtained from the same member bank rates and / or any other financial concession which may have helped to aggravate the member bank’s financial condition
- deposits from companies which may be excluded from deposit insurance coverage by any other special law or governmental directive;
- debt securities issued by such member bank and any other liabilities arising out of such member bank’s own acceptances and promissory notes;
- deposits from micro credit organisations.