{"id":93337,"date":"2015-12-02T14:04:27","date_gmt":"2015-12-02T14:04:27","guid":{"rendered":"https:\/\/armbanks.am\/2015\/12\/02\/243920\/"},"modified":"2024-12-15T13:21:19","modified_gmt":"2024-12-15T13:21:19","slug":"amount-of-government-insured-deposits-in-armenia-increased-2-5-times","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/12\/02\/93337\/","title":{"rendered":"Amount of government-insured deposits in Armenia increased 2.5 times"},"content":{"rendered":"<p><strong>YEREVAN, December 2. \/ARKA\/.<\/strong> The legislative amendments that increase the amount of government-insured deposits 2.5 times have already come into force, Hermine Harutyunyan, the head of the Deposit Insurance Fund, told ARKA News Agency.<\/p>\n<p>On October 26, the Armenian National Assembly passed a bill that raises the amount of government-insured private deposits in Armenia\u2019s banks about 2.5 times to AMD 10 million against the present 4 million for dram deposits and AMD 5 million against the current 2 million for deposits in foreign currencies.<\/p>\n<p>&#8220;Amendments apply not only to new deposits that will be formalized after the amendments&#8217; entry into legal force, but also to all the deposits formalized before that,\u201d she said.<\/p>\n<p>The following scheme is designed for dram and foreign currency deposits: if a dram deposit exceeds AMD 5 million, only the mentioned amount will be insured, if a dram deposit is less than AMD 5 million, it will be fully insured plus a part of a foreign currency deposit, i.e. difference between the dram deposit and AMD 5 million.<\/p>\n<p>According to the fund&#8217;s figures, individuals&#8217; deposits in banks have grown 10 times over one decade to more than AMD 1 086 billion, and the number of depositor has grown six fold to more than 1.7 million.<\/p>\n<p>The Deposit Insurance Fund was established by the Central Bank of Armenia in 2005 for enhancing public confidence in banks.<\/p>\n<p>In compliance with the law, banks transfer every quarter 0.05% of the amount of deposits on their accounts to the fund, and the fund runs these assets to ensure profitability.<\/p>\n<p>The size of deposit compensation have been increased many times over ten years of the fund&#8217;s activity, and this proves stability of the banking sector and the fund, which is able to ensure a quite high level of compensation. ($1 \u2013 AMD 482.81). &#8212;0&#8212;-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The legislative amendments that increase the amount of government-insured deposits 2.5 times have already come into force, Hermine Harutyunyan, the head of the Deposit Insurance Fund, told ARKA News Agency<\/p>\n","protected":false},"author":1,"featured_media":169379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12163],"class_list":{"0":"post-93337","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-banks"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/93337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=93337"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/93337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/169379"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=93337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=93337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=93337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}