New member of the Board of Directors of the Financial Market Guarantee System
Prague, 1 September 2023 - Finance Minister Mr. Zbyněk Stanjura has appointed Ms. Eva Slukova as a new member of the Board of Directors of the Financial Market Guarantee System with effect from 1 September 2023. She will replace Mr. Alex Ivančo, who resigned from the Board after his tenure at the Ministry of Finance ended.
Ms. Eva Sluková, a new member of the Board of Directors of the Guarantee System, is currently in charge of the Financial Markets Department I at the Ministry of Finance of the Czech Republic. Her mandate on the Board will last until January 2025 in line with the duration of her predecessor's mandate.
The Board of Directors of the Guarantee System is composed of five members and consists of two employees of the Czech National Bank, two employees of the Ministry of Finance of the Czech Republic and one member appointed on the proposal of the Czech Banking Association. The members are appointed by the Minister of Finance for a period of five years and may be reappointed. The current list of the Board of Directors members is available here.
”The Board of Directors is the highest body of the Guarantee Scheme. In addition to overseeing its functioning, one of the tasks of the Board of Directors is to appoint a three-member Management Board, which is composed of employees of the Guarantee System," explains Renáta Kadlecová, Executive Director of the Financial Market Guarantee System.The Guarantee System is currently providing compensation to clients of two failed banks. The first one concerns the Československé úvěrní družstvo in liquidation and will last until 12 August 2024. 541 clients were entitled to the payment and the total amount was CZK 52.4 million. The second one, reimbursement of Sberbank CZ deposits will last until 10 March 2025. Under this payout, over 121,000 clients of the bank with a total insured deposit volume exceeding CZK 25.5 billion were entitled to compensation.
During its existence, the Deposit Insurance Fund has paid out deposit reimbursements in 20 cases. In total, it has paid out more than CZK 71 billion since 1994.
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