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Update of the Maximum Coverage under the Deposit Insurance Scheme

February 28, 2019. The Board of the BCRA established that since tomorrow, March 1, 2019, the top coverage under the Deposit Insurance Scheme will amount to ARS1 million per depositor in each financial institution.

The maximum coverage has been updated on different occasions, the last one occurring on May 1, 2016 where it was raised to ARS450,000.

For the new updating, different variables were considered, such as the performance of the UVA value, the growth of the Deposit Insurance Fund, consolidated coverage in the financial system and its evolution in the last decade as well as international experience.

 

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