The Board of Directors of the BCRA determined that as of tomorrow, March 1, 2019, the coverage of the Deposit Guarantee Insurance System will be up to $1,000,000 per depositor in each financial institution.
The coverage ceiling was adjusted on different occasions. The last one had been on May 1, 2016 and the amount established was $450,000.
For the new update, different variables were considered, such as the evolution of the UVA value, the growth of the Deposit Guarantee Fund, the consolidated coverage at the financial system level, its evolution in the last decade and international experience.
