Funding the Banking Deposit Guarantee Fund (FGDB) on the basisof stand-by agreements with lending institutions has been droppedat the beginning of this year, and banks' annual contribution quotahas been raised from 0.2% to 0.3%.
As a result of this increase, the exposure coverage degree,calculated as a ratio of the Fund's resources and the total valueof guaranteed deposits, is expected to rise.
At the end of September 2010, the Fund's exposure coveragedegree amounted to 1.25%, one of the highest levels in the EU,according to the fund's bulletin for the third quarter of 2010.
In the spring of 2009, the Fund contracted from banks a stand-byline of credit representing the RON equivalent of 300m euros. Theoperation was needed to support the decision to raise the guaranteethreshold from the equivalent of 20,000 euros to 50,000 euros forindividuals.
Thus, the resources provided to the Fund in 2009 in form ofcontributions accounted for less than 20% of the total, with therest of over 80% coming in form of the stand-by line of credit.
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