Multilateral agreement

The procedure for cross-border payment of compensation for inaccessible deposits is set out in Directive 2014/49/EU on Deposit Guarantee Schemes.

In the event of insolvency of a foreign bank from a Member State of the European Union operating in the territory of the Slovak Republic through its branch, the Deposit Protection Fund will make compensation disbursements for receivables from deposits to eligible persons in the territory of the Slovak Republic. The payout will be made in accordance with the instructions of the relevant foreign deposit guarantee scheme and at its expense.

The same procedure will apply to the event of insolvency of a Slovak bank operating in the territory of another Member State of the European Union through its branch. In this instance, the payment of compensation for deposit claims to eligible persons in the territory of another state shall be made by the relevant foreign deposit protection scheme in accordance with the instructions of the DPF and at the expense of the DPF.

Due to the requirements for cooperation, the Deposit Protection Fund entered into a multilateral Cooperation Agreement in 2016, which sets out the basic principles of cooperation between deposit protection schemes.