U.S. Embassy in Baku offers excuses: California Senate's decision does not represent national foreign policy

Eduard Sharmazanov: Robert Kocharyan said nothing new

A Radisson Hotel may open in Armenia

Armenia institutes a criminal case suggesting international terrorism over Azerbaijan's fire attacks on Armenian borderline villages

VTB Bank (Armenia) presents gifts to children of Full Life NGO's Inclusive Summer Camp

Azerbaijan transfers Hakob Injighulyan to a third country

Armenian analyst considers Edward Nalbandian's participation in Turkish president's swearing-in ceremony to be a diplomatic mistake

Union of Banks of Armenia hosts discussions on development problems of Armenia's financial and banking sector

Volunteers from the Diaspora visit VivaCell-MTS headquarters

Robert Kocharyan is not optimistic about prospects of final settlement of Karabakh conflict

Edward Nalbandian invites Erdogan to visit Armenia on 24 April 2015

Robert Kocharyan: The regime able to forget personal interests is doomed to success

Beeline cuts down tariffs for fixed-line telephony services

Expert: California Senate-adopted Resolution - AJR 32 is a response to Baku's blackmailing policy

Robert Kocharyan: It would be wrong thinking that Armenia's economy may gain from sanctions against Russia

Armenian Deputy Minister of Finance: The stadium will not pay off all debts of Armavia

Armenian Cause and Cyprus among key items on Ahmet Davutoglu's agenda

ACBA-Credit Agricole Bank issues student loans within 15 minutes

SCR CJSC to attend sitting of Traffic Safety Committee of Council for Rail Transport in Minsk on Sept 2-3

Edward Nalbandian makes a statement on the Resolution of California Senate recognizing the Independence of Artsakh

Expert: Yerevan's refusal to participate in Turkish president's swearing-in ceremony could put international pressure on Armenia

David Babayan: Azerbaijan's stand on Yazidis of Iraq describes it as a Nazi country

David Babayan: Recognition of NKR's independence by California is equivalent to recognition by a big and influential state

VTB Bank (Armenia) consumers may now get standing orders for paying for Beeline services

Anelik Bank presents a new credit product - Simple-Fast Extra

Alexander Manasyan: In big-league politics Erdogan's anti-Armenian statements are a trifle

Expert: Increase in water release from Lake Sevan endangers the lake ecosystem

Politician: Perhaps great powers have promised Armenia to pressure Turkey into opening Armenian-Turkish border

Armenian general suggests delivering a series of preventive surgical strikes at Azeri army's combat positions

General: Even Turkish instructors admit low combat effectiveness of Azeri army

Mika Stadium placed on auction

Resident of Artashat wounded in shooting

Armenian Foreign Minister to attend Erdogan's swearing-in ceremony

Armenia considers possible securing of corporate deposits in banks

  • by Arthur Yernjakyan

  • Thursday, March 6, 17:18

The Government of Armenia is going to include corporate bonds in the compulsory deposit security mechanism. For the personal deposits the compulsory component of the law has been effective since 2005.  

The legislative initiative on compulsory security of corporate deposits in banks has been submitted for the consideration of the Government by ex-Prime Minister of Armenia, MP Hrant Bagratyan. On March 6, Armenian Economy Minister Vahram Avanesyan told journalists that the executive power is not against such application of the law, but the given issue should be discussed with businessmen. “On the whole, the Government has a positive attitude to it”, said Avanesyan. However, it is not clear yet to what extent the corporate deposits will be secured. 

He added that the Government secures the deposits of those who cannot assess the risks independently. It mostly concerns small and medium enterprises. The minister thinks that the corporate deposits in the banks should be secured to the same extent as the personal deposits.  

In 2010 the law "On the guarantee of compensation for personal deposits in banks" was amended and the maximum guarantee threshold was doubled from 2 mln to 4 mln AMD for AMD deposits and from 1mln AMD to 2 mln AMD for foreign exchange deposits. The threshold of the commercial banks’ contributions to the deposit insurance fund was increased from 2.5% of the deposit portfolio to 5%. The Central Bank of Armenia is the sole founder of the fund. 

Send to a friend

To (e-mail)

Your name



View comments (0)

Be first to comment on this article

* Indicates required fields