Electronic Reporting

The data collecting and reporting information system, aims at centralizing the electronic information reported to DIA by the banks, calculating each bank’s annual premium and carrying out rapid and efficient compensation in case of a bank resolution. This project was funded by an EBRD grant and FSVC contribution through FDIC’s high-level experts, who helped by compiling its terms of reference and performance evaluation. According to the project plan, the system design started on July 2013 and finished successfully on October 2014. Banks used it for the first time for premium calculations on October 2014.

Key functions of the System

The information system of the Agency and data reporting from the banks operates in such a way as to ensure:

a) The data availability at any time for the identification of the depositor with a unique number in the system that is consistent with the personal data of an actual person and determines with accuracy the sum that the subject owes to this depositor, which it also insures at the Agency.

b) The concentration of information on deposits and depositors, on an individual basis and / or aggregated.

c) An assessment of the accuracy of the personal data of depositors in the electronic registers of subjects.

d) Assessing the accuracy of calculation of the sum insured.

e) Assessment of the accuracy of calculating periodic premium.

f) The possibility of immediate access to information on deposits and depositors to carry out an accurate assessment of the amount of compensation in case of simulation or Insurance event.

g) Eligibility and reporting parameters even by third parties which provide services to the banks members in order to fulfill the requirements of this Regulation and to the law on deposit insurance.

h) The use and / or publication of information by the Agency for study and risk assessment and management of deposit insurance.

Rules for Electronic Reports

For the purpose of calculation of insured amount, every bank uploads the following data files within first 10 days of the next month:

  1. Deposits – accounts data linked with individual deposits in the bank.
  2. Depositors – individual details data of the depositor which identifies him exactly.

For each quarter in the first 10 days of the following month, the bank reports in the Agency the calculated prime for each depositor and uploads the corresponding file in the system.

In case of compensation process or simulation, the bank will be asked to upload daily files with the following data:

a) Deposits – account data linked with every individual deposits in the bank.

b) Depositors – individual details data of the depositor which identifies him exactly.

c) Loans – Detailed loans linked with deposits which are put as guarantee for these loans.

d) Net position of depositors – the depositors on the net position.

Also, the Agency can ask the banks for reports for special and unpredictable reasons to fulfill its public objectives.