In his address, the Director of the Deposit Protection Fund, among other thing, reminded that, on 7 December 2018, the Central Bank of Montenegro adopted the Decision on instituting interim administration for Invest Bank Montenegro A.D. Podgorica, and on 4 January 2019 it submitted to the Deposit Protection Fund the Decision on opening the bankruptcy proceedings in that bank, thus, in line with the provisions of the Deposit Protection Law, the protected event occurred on the same day. He pointed out that the total deposits amounted to € 39,867,785.52 for 2,962 deponents, calculated guaranteed deposits amounted to € 22,333,240.38 for 2,922 deponents, and total liabilities of deponents towards the bank in bankruptcy amounted to € 4,373,213.38. In line with the above, he informed the Committee members about the further steps that the Fund took and notified the Committee that, ending with 7 February 2019, a total of  € 12,136,840.50 was paid out, making up 54.34% of the total of calculated guaranteed deposits, i.e. of the total obligation of the Fund to pay out guaranteed deposits.

During the hearing, the Committee members had the opportunity to obtain the information about the Fund’s activities on the pay-out of guaranteed deposits, which are done through three banks payers, treatment of deponents, amount of funds at the Fund’s disposal, timeline for withdrawing guaranteed deposits readiness of the Fund to meet the obligation of pay-out of guaranteed deposits if, eventually, there was bankruptcy in Atlas Banks, the status of the banking system from the aspect of the Fund’s competencies, plan of further activities referring to amendments to the Deposit Protection Law, the timeline for increasing the amount of guaranteed deposits etc.