Deposit account

BELGRADE - Serbia's Finance Minister Dusan Vujovic has said that all banks and their clients with savings accounts will have to put some of their money into the Deposit Insurance Fund in the future, adding that the fund will mostly have independent members of the management board.

Tens of people have gathered in front of the Corporate Commercial Bank (KTB) headquarters in Sofia waiting for officials from the bank to help them overcome the difficulties they have withdrawing their money.

There are 255 000 depositors whose money in Corporate Commercial Bank (KTB) is guaranteed under the law, newly-appointed Deposits Insurance Fund Chairman Radoslav Milenkov has said.

Earlier this week the DIF officially announced the names of all nine banks which are to repay KTB deposits of up to BGN 196 000 within the next five years.

Bulgaria's Deposit Insurance Fund said on Thursday that from 4 December 2014 it will start repaying state-protected deposits in Corporate Commercial Bank (KTB), which had its banking license withdrawn earlier in the day.

Bulgaria's Deposit Insurance Fund (BDIF) is ready to pay the deposits of up to EUR 100 000 in case the troubled Corporate Commercial Bank (KTB) loses its license.

According to the DIF press statement, which came in response to the infringement proceedings opened by the European Commission against Bulgaria for delaying the payment of the guaranteed deposits.

Police have busted a phony VIP taxi service in Greece that was using the bank accounts of homeless people to collect deposits from cab drivers.

Police spokesman Christos Parthenis said Monday that seven people have been arrested.

Taxpayers are as of Tuesday able to designate a bank account at which they can hold up to 1,500 euros in deposits without fear that it will be confiscated cover any debts to the state.

The details of the protected accounts can be logged with Taxisnet (www.gsis.gr).