Deposit Guarantee Scheme in Slovenia

Information Leaflet – A Deposit Guarantee Scheme Reimburses a Limited Amount to Compensate Account Holders Whose Bank in Slovenia Has Failed

Deposit Guarantee Scheme Slovenia: Banka Slovenije, the Central Bank of Slovenia, established a deposit guarantee fund in 2016. Its legal foundation is laid down in the Deposit Guarantee Scheme Act (ZSJV). The fund is being financed by contributions from banks and savings banks established in Slovenia and the available finances are to be used to reimburse eligible creditors when their bank deposits become unavailable, or to finance resolution or compulsory winding-up measures which ensure that access to deposits covered by guarantee is maintained for depositors.

Secured Deposit Limit: 100.000 euro per customer per bank.

Additional Insured Coverage: The law stipulates that deposits for natural persons derived from several circumstances are entitled to higher compensation. Such reimbursements are made in full to the depositor in the event of the collapse of the bank, provided that they were transferred to the depositor no more than six months before the issue of the Bank of Slovenia’s decision on the unavailability of deposits.

Claim Filing Procedure: The Bank of Slovenia and the Agency of the Republic of Slovenia for Public Legal Records and Related Services (AJPES) shall, at the latest within five working days of
the cut-off date for the calculation of the guarantee, publish on their websites a notice of the
repayment of guaranteed deposits to depositors. A repayment bank is appointed to help with the claim verification process and reimbursement of insured deposits to eligible creditors.

Claim Submission Timeframe: A claim to the Slovenian deposit guarantee fund shall become statute-barred five years after the publication of a notice for reimbursement that followed the unavailability of deposits in the member institution.

Repayment Timeframe: Guaranteed deposits shall be repaid to depositors under the deposit guarantee
scheme at the latest within seven working days of the cut-off date for the calculation of the
guarantee.

Repayment Conditions: Reimbursement under the Slovenian deposit guarantee fund is exclusively available to eligible depositors. The repayment of a guaranteed deposit under the deposit guarantee scheme shall not be made if no transaction relating to the deposit has been made in the 24 months
before the cut-off date for the calculation of the guarantee and the value of the deposit is lower than the costs that would be incurred by the deposit guarantee scheme if such repayment was made. A depositor shall not be entitled to the repayment of a guaranteed deposit under the deposit guarantee scheme if the deposit has arisen out of transactions in connection with which there has been a conviction by final judgment for the criminal offence of money laundering or terrorist financing. Deposits held by or on behalf of banks, investment firms, pension funds and other financial institutions, public authorities and local communities are also excluded from DGS coverage.

DGS Claim Rejections: The fund administration may be asked to reinspect an initially rejected DGS claim. The depositor may also bring a claim before a court of general jurisdiction against the
deposit guarantee scheme on the basis of entitlement to the guarantee under the scheme or
with regard to the amount of the guaranteed deposit repaid to the depositor.

Scheme Architecture: The amount of funds, i.e. the fund’s target level, will be stipulated as a percentage of the total amount of all guaranteed deposits in Slovenia, and will be determined by the Bank of Slovenia. The fund’s target level is at least 0.8% of total guaranteed deposits. Funds will be paid into the fund by banks in annual contributions until the fund’s target level, as determined by the Bank of Slovenia, is reached, whereby funds equivalent to at least 0.8% of total guaranteed deposits as at 3 July 2024 must be paid in by banks by the aforementioned date. Fund reserves were 96 million euros in the year 2020.

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