The Fund protects depositors' funds and creditors’ interests in bank insolvency proceedings. The BDIF guarantees depositors' savings held in Tokuda Bank up to the amount stipulated by the Law on Bank Deposit Guarantee, which, at the date is BGN 196,000 in total for the principal and interest on all accounts of one person with the Bank.
In summing-up, deposits in foreign currencies participate in their BGN equivalent, determined at the Bulgarian National Bank’s exchange rate at the date of issue of an act pursuant to Article 20(1) of the Law on Bank Deposit Guarantee (LBDG).
Payouts from the Bulgarian Deposit Insurance Fund begin no later than 7 business days after the date of issue of an act pursuant to Article 20(1) of the LBDG, through one or more commercial banks determined by the Management Board of the Bulgarian Deposit Insurance Fund.