Resolution Fund

In order to provide funds for the application of resolution tools and resolution powers determined by the Law on Resolution of Credit Institutions, the Resolution Fund has been established. The funds of the Resolution Fund shall be used to achieve the resolution objectives referred to in Article 12, in accordance with the principles referred to in Article 13 of this Law. The Resolution Fund is managed by the Central Bank. The funds of the Resolution Fund are kept in a special account of the Central Bank.

The Resolution Fund should have sufficient funds to achieve the objectives of resolution in accordance with the Law. The Central Bank, in the name and on behalf of the Resolution Fund: collects ex-ante contributions in order to reach the level of at least 1% of guaranteed deposits; collects ex-post contributions if the funds available to meet the obligations are not sufficient; and arranges loans and other additional sources of financing.

The funds collected in accordance with the Law constitute the assets of the Resolution Fund, the use of which is approved by the Central Bank, for the purposes determined in accordance with the Law on Resolution of Credit Institutions.