Taganemisõiguse

Tagatisfond, also known as a guarantee fund, is a financial mechanism designed to protect depositors in the event of a bank's insolvency. In Estonia, this function is primarily fulfilled by the Deposit Guarantee Fund. Its main purpose is to ensure that individuals and companies have access to a portion of their deposited funds even if a credit institution fails.

The Deposit Guarantee Fund operates under Estonian law and is managed by the Estonian central bank, Eesti Pank. It is funded by contributions from credit institutions operating in Estonia. These contributions are typically based on the volume of deposits held by each institution, creating a collective pool of funds.

When a bank becomes insolvent and is unable to return deposits to its customers, the Deposit Guarantee Fund steps in. It guarantees reimbursement of deposits up to a certain limit per depositor per credit institution. Currently, this limit is set at 100,000 euros. This means that if you have deposits in a bank that fails, you are legally entitled to receive up to 100,000 euros back from the fund.

The process of reimbursement is usually initiated by Eesti Pank. Once a credit institution is declared insolvent, the fund will administer the payout to eligible depositors. The goal is to provide a swift and efficient resolution, minimizing the financial hardship for those affected by the bank's failure and maintaining confidence in the stability of the banking system. The existence of a deposit guarantee fund is a common feature in financial markets worldwide, contributing to overall financial stability.