Article 1 : The savings deposits made in Turkish Lira by natural persons and the foreign exchange deposit accounts and gold deposit accounts having the effect of savings account opened by natural persons with the branches in the country of the banks operating in Turkey and authorized to accept deposits are subject to the insurance.The deposits with the banks established to engage exclusively in off-shore banking are not subject to the insurance.
Domestic Branch: The domestic branches of the banks operating in territory of Turkey and authorized to accept deposits except foreign branches and branches operating in off-shore centers.
Ratios: The standart ratios put into effect in accordance with the Article 13 of the Act.
Article 3 : In order to apply to the accounts which are opened or renewed by the enforcement of this Decree, principal and interest total as defined in Article 1, to be applied for 100 billion Turkish Lira until 31/12/2000, and for 50 billion Turkish Lira after 01/01/2001 of part of the accounts is subject to insurance.
The interest to be calculated on the deposit accounts as of date of revocation of the authority to accept deposit and carry out banking transaction of the bank to whose depositors’ payment is to be made by the Fund are covered by the insurance provided they do not exceed together with the principal the limits set in the first paragraph of this article and the amount to be calculated at the avarages of interest rates and minimum interest rates submitted to the Central Bank of The Republic of Turkey applied by the five banks whose total amount of deposits are at the highest level on the said date.
Central Bank of The Republic of Turkey’s bid rates for foreign exchange at the date of revocation of the authority to accept deposit and carry out banking transaction of the bank is based for the Turkish Lira payment of the insured deposits.
İstanbul Gold Stock Exchange Market gold fixing price and the Central Bank of The Republic of Turkey’s bid rates for foreign exchange at the date of revocation of the authority to accept deposit and carry out banking transaction of the bank is based for the equivalent of gold deposit accounts in Turkish Lira.
Article 4 : Savings deposit premiums are calculated based on the Quarterly statement of accounts prepared by the banks pursuant to the Article 13 of the Act. The rate of the premium payable on the savings deposit accounts, defined in the Article 1 of this Decree as based on their quarterly totals;
a) for the banks whose ratios are adequate is 25 basis point,
b) for the banks whose at least one ratio is not adequate is 26 basis point.
Article 5 : The premium payment dates and the submitting dates of the account details of Turkish Lira deposit accounts and foreign exchange and gold deposit accounts of the nature of savings deposit and the quarterly statement of accounts which is based on the calculation of premiums; are determined by Savings Deposits Insurance Fund.
Article 6 : Turkish Lira savings deposit accounts and gold and foreign exchange deposit accounts of the nature of savings deposits accounts, which were defined in the first article and a total of each of the foreign exchange and Turkish Lira savings deposits of one person with a bank which is covered by the insurance which were defined in the third article, have to be declared to the Fund as of every year’s June and December until the end of the following month. Conversion of gold deposit and foreign exchange accounts are based on İstanbul Gold Exchange Market gold fixing price and Central Bank of The Republic of Turkey’s bid rates on the last day of the related terms’.
Article 7 : In every premium collection period, the Board might increase the premium rates up to double rates for the banks which does not execute one or several liabilities determined by the Banks Act and the Central Bank Act and the related decrees and proclamations of these acts.
Article 8 : The banks are obliged to display a written statement containing the principles set forth in Article 3 of this Decree concerning the part of the savings deposit account, foreign exchange and the gold deposit account of one person, at a conveniently visible place at their bank.
Article 9 : The Decree No.92/2707 dated 02/02/1992 has been repealed.
Provisional Article 1 : Until the Agency shall start to carry its operations, duties and authorities granted by this Decree shall be exercised by the Minister.
Provisional Article 2 : Provisions of Decree dated 02/02/1992 and number 92/2707 shall be applied to the accounts until the maturity date which opened before the enforcement of this Decree.
Article 10 : Provisions of this Decree shall come into effect on the date of publication.
Article 11 : Provisions of this Decree shall be executed by the Board.