The Bank Deposit Guarantee Fund was set up in 1996, as a legal entity of public law. The Fund’s purpose is guarantees the reimbursement of deposits with credit institutions, according to the terms and limits established by the law on the Fund’s operating. The Bank Deposit Guarantee Fund conducts activities as special administrator, interim administrator or liquidator of credit institutions, if appointed to act in such a capacity.
Since its setting up, the Bank Deposit Guarantee Fund together with the Romanian Association of Banks representatives have had an active role in the drawing up and enforcement of regulations on the mechanism that guarantees deposits and payment of compensations to depositors, if a bank goes bankrupt.
Currently, the threshold per secured depositor and per credit institution is set at the lei equivalent of the amount of 100,000 Euros.