In order to implement the requirements set forth in the Law “On Household Deposits Guarantee System” (hereinafter referred to as the law), on 9 July 2012 the National Bank of Ukraine and the Household Deposit Guarantee Fund concluded an Agreement on cooperation and coordination of activities, which will come into force from 22 September 2012 together with the Law.

This Agreement has established the procedure for interaction and cooperation between the Household Deposit Guarantee Fund and the National Bank of Ukraine. The move stemmed from the new mandate of the Household Deposit Guarantee Fund, which had acquired new powers in accordance with the Law.

The implementations of provisions of the Agreement will enhance greater cooperation between the National Bank of Ukraine and the Household Deposit Guarantee Fund, promote coordination of their activities and ensure the banking system stability and protection of interests of banks’ depositors and creditors.