Membership fees:

All members, both ordinary and branches, pay an annual fee to the Guarantee Fund. The fee is calculated in accordance of Section 19-6 of the Financial Institutions Act and associated regulations.

More information on calculation of the fee

A change of the membership may trigger an entry fee. A new membership will also trigger an entry fee. This kind of fee is calculated in accordance of Section 19-8 of the Financial Institutions Act and associated regulations. Please contact us if you have a question regarding entry fee.

The Guarantee Fund’s equity and subordinated loan capital
The Guarantee Fund’s aggregated equity and subordinated loan capital must at all times, as a minimum, equal:

•    1,5 percent of average guaranteed deposits held by members and
•    0,5 percent of average risk weighted assets for all members

The Guarantee fund’s aggregate equity and subordinated loan capital for 2016:
 
For more information about the Guarantee fund’s aggregate equity and subordinated loan capital, please see note 1 in the Guarantee fund’s Annual Report for 2015.

Annual Report 2015

Member guarantees

To the extent that the Guarantee Fund’s assets do not equate to the minimum size, the shortfall is covered by the issuance of guarantee declarations from the members. The guarantee amount for each member is calculated on a pro rata basis in the same way as the annual fee. In accordance with the guarantee obligation, demands for settlement for an individual year may not exceed one-tenth of the minimum requirement for the Guarantee Fund’s total equity and subordinated loan capital.