Deposit insurance

Deposits held with Šiaulių Bankas AB are covered by insurance

Public Institution Deposit and Investment Insurance

Limit of coverage

Up to EUR 100,000 per depositor for all deposits held with one credit institution¹

If you hold more deposits with the same credit institution,

all your deposits held with the same credit institution are summed up and the total amount is subject to the coverage limit of EUR 100,000¹

If you hold a joint account with another person(s),

the limit of EUR 100,000 will apply individually to each depositor²

The term of payment of an insurance compensation in cases, where the credit institution fails to fulfil its obligations, shall be

7 working days³

Currency of the insurance compensation:

EUR

Contact details

(Public Institution Deposit and Investment Insurance, Savanorių pr. 5, LT-03116, Vilnius, tel. +370 5 213 5657, fax: +370 5 213 5546, email: [email protected])

For more information, please visit

www.iidraudimas.lt

Deposits held with Šiaulių Bankas AB are covered by insurance

Public Institution Deposit and Investment Insurance

Cases where deposits are not insured

Please be informed that according to Article 3(2) of the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania, the subject of deposit insurance is not (deposits of the specified entities are not subject to deposit insurance, regardless of the legislation of the country under which the entities are incorporated):

1.1. deposits of other credit institutions, held on own account and in own name;

1.2. own funds;

1.3. deposits which have resulted in a conviction in a criminal case concerning money laundering;

1.4. deposits of financial institutions;

1.5. deposits of management companies;

1.6. deposits of financial brokerage firms;

1.7. deposits which have no identified owner (deposits held in anonymous and coded accounts);

1.8. deposits of insurance and reinsurance companies, insurance and reinsurance companies established in other Member States and third countries;

1.9. deposits of collective investment entities;

1.10. deposits of pension funds;

1.11. deposits of state and municipal institutions and bodies as defined in the Republic of Lithuania Law on the State Service, except funds belonging to other persons held in deposit accounts of such institutions and bodies;

1.12. deposits of the Bank of Lithuania;

1.13. debt securities and liabilities issued by the participant of the deposit insurance system himself, related to his acceptances and promissory notes;

1.14. electronic money and funds received from electronic money holders in exchange for electronic money.

Cases where restrictions on the payment of deposit insurance compensations apply

Please be informed that according to Article 8 of the Law on Insurance of Deposits and Liabilities to Investors, no deposit insurance compensations are paid:

2.1. for the deposits, funds, money, securities and liabilities that are not subject to deposit insurance under Article 3(2) of the Law on Insurance of Deposits and Liabilities to Investors;

2.2. to the depositors of the deposits in an account, where no operations related to the deposit have been carried out during the last 24 months, before the day of the insured event of deposit and the amount of the deposit held in it is lower than EUR 10;

2.3. to the depositors or other persons who have a claim to a deposit insurance compensation and who have been convicted of money laundering and/or terrorist financing in a criminal case in relation to the lawfulness of the acquisition of the money they hold as deposits.

Cases where the payment of the deposit insurance compensation is postponed

Please be informed that according to Article 7(4) of the Law on Insurance of Deposits and Liabilities to Investors, the payment of the deposit insurance compensation shall be postponed when:

3.1. there is a lack of data justifying the right of the requestor to the insurance compensation for deposits or if the deposit is subject of a legal dispute; until the data justifying the right to the insurance compensation for deposits is provided or until the final decision of the court is enforced resolving the deposit dispute;

3.2. the depositor’s right to access the deposit is limited in the cases and under the conditions provided for by laws, until these limitations are lifted;

3.3. no operations related to the deposit have been carried out during the last 24 months before the day of the insured event of deposit; up to 3 months after the day of the insured event of deposit;

3.4. the insurance undertaking receives information from the participant of the deposit insurance system in regards the amount of insurance compensation for deposits, that will exceed EUR 100 000 due to reasons indicated in Article 4(2) of the Law on Insurance of Deposits and Liabilities to Investors, and for the amount exceeding EUR 100 000; until the amounts indicated in Article 4(2) of the Law on Insurance of Deposits and Liabilities to Investors are clarified, but no later than 3 months after the day of the insured event of deposit;

3.5. the insurable deposit is held in a joint or deposit account; until the amounts belonging to a specific person in a joint or deposit account are clarified, but no later than 3 months after the day of the insured event of deposit;

3.6. the payment of insurance compensation for deposits is made to the depositors of a branch established in a host Member State by a credit institution established in the Republic of Lithuania under Article 7(7) of the Law on Insurance of Deposits and Liabilities to Investors; until the administrator of deposit insurance system of a host Member State confirms that he is prepared for the payment of insurance compensation for deposits;

3.7. the payment of insurance compensation for deposits is made to the depositors of a branch established in the Republic of Lithuania by a credit institution having its registered office in another Member State under Article 7(8) of the Law on Insurance of Deposits and Liabilities to Investors; until the administrator of deposit insurance system for deposits of a home Member State, where the credit institution is a participant of that system after establishing a branch in the Republic of Lithuania, provides the information to the insurance undertaking that is required for the payment of insurance compensation for deposits;

3.8. the depositor or other person who has a claim to a deposit insurance compensation is charged with money laundering and/or terrorist financing in connection with the lawfulness of the acquisition of the money held as deposit money; until the date of entry into force of the final judgment.

Contact details

(Public Institution Deposit and Investment Insurance, Savanorių pr. 5, LT-03116, Vilnius, tel. +370 5 213 5657, fax: +370 5 213 5546, email: [email protected])