Information about deposit and liability insurance for investors

For more details see the website of the P.I. Deposit and Investment Insurance.

1. Deposits held with “Swedbank”, AB are insured	Public Institution “Deposit and Investment Insurance”
2. The level of deposit protection is	up to EUR 100 000 per depositor for all deposits held with one credit institution
3. If you have more than one deposit with the same credit institution	all your deposits held with the same credit institution shall be summed up and the total amount shall be subject to the cover limit of EUR 100 000
4. If you have a joint account with another person/persons	EUR 100 000 limit shall apply per each depositor
5. The deposit insurance benefit payout deadline if the credit institution defaults is	7 working days
6. The deposit insurance benefit payout currency is	euro
7. Contact details	Public Institution “Deposit and Investment Insurance”, Savanorių pr. 5, LT03116 Vilnius, phone: +370 5 213 5657, email: idf@idf.lt
8. For more detailed information	www.iidraudimas.lt

¹ Explanation about 2nd and 3rd bullet point. If a deposit is not repaid due to the inability of the credit institution to meet its financial obligations, Public Institution “Deposit and Investment Insurance” shall pay deposit insurance benefits to the depositors. The maximum insurance benefit for deposits held with a single credit institution is EUR 100,000 per depositor. In determining the amount of the deposit insurance benefit, all deposits held with the same credit institution are aggregated. For example, a depositor who has a savings account with EUR 90,000 and a current account with EUR 20,000 will only be paid an insurance benefit of EUR 100,000.

In certain cases (when money is transferred to the depositor's account six months or less before the date of the deposit insured event for the sale of residential property owned by the depositor; money inherited by the depositor by will or by law; money received by the depositor as a beneficiary under a life insurance contract or a contract corresponding to its essence in the event of death; money received by the depositor as compensation or a benefit in cases prescribed by law due to the death of another person in the course of work or official duties; benefits or compensation for damage caused by violent crimes), deposits are covered for more than EUR 100,000.

More information can be found on the www.iidraudimas.lt website.

² Explanation about 4th bullet point. If you have a joint account with another person/persons, the level of deposit protection of EUR 100,000 applies separately to each co-owner of the deposit.

³ Explanation about 5th bullet point. Payment of insurance payments.

Responsible for the deposit insurance system is the insurance company Public Institution " Deposit and Investment Insurance ", Savanorių pr. 5, LT03116 Vilnius, tel. +370 5 213 5657, e-mail idf@idf.lt, website www.iidraudimas.lt. It will return your deposits (up to 100,000 euros) no later than within 7 working days.

If you have not been paid the insurance benefit within this period, you should contact the insurance company. More information can be found on the website www.iidraudimas.lt.

⁴ Other important information

In principle, all retail and corporate deposits are insured by the insurance company.

The exceptions that apply to certain deposits are provided on the insurance company’s website at www.iidraudimas.lt. At your request, the credit institution will also inform you if certain products are insured. If the deposits are insured, the credit institution shall also confirm this in the account statement.

Deposit insurance does not cover the following deposits

Please be informed that according to Article 3(2) of the Republic of Lithuania Law on Insurance of Deposits and Liabilities to Investors, deposit insurance shall not cover (the deposits of the specified entities shall not be the object of deposit insurance, regardless of the legislation of the country under which these entities are incorporated):

1.1. deposits of other credit institutions, held on own account and in own name;

1.2. credit institution‘s own funds;

1.3. deposits which have resulted in a conviction in a criminal case concerning money laundering;

1.4. deposits of financial institutions;

1.5. deposits of servicers;

1.6. deposits of financial brokerage firms;

1.7. deposits which have no identified owner (deposits held in anonymous and coded accounts);

1.8. deposits of insurance and reinsurance companies, as well as deposits of insurance and reinsurance companies established in other Member States and third countries;

1.9. deposits of collective investment entities;

1.10. deposits of pension funds;

1.11. deposits of state and municipal institutions and bodies as defined in the Republic of Lithuania Law on the State Service, except for funds belonging to other persons held in deposit accounts of such institutions and bodies;

1.12. deposits of the Bank of Lithuania;

1.13. debt securities and liabilities issued by the participant of the deposit insurance system himself, related to his acceptances and promissory notes;

1.14. electronic money and funds received by electronic money institutions from electronic money holders in exchange for electronic money.

Deposit insurance benefits are not paid

Please be informed that according to Article 8 of the Law on Insurance of Deposits and Liabilities to Investors, payments of insurance compensation for deposits shall not be made:

2.1. for the deposits, funds, money, securities and liabilities, which are not the object of deposit insurance in accordance with Article 3(2) of the Law on Insurance of Deposits and Liabilities to Investors;

2.2. to depositors for deposits in an account in which no deposit-related transactions have taken place in 24 months preceding the date of the deposit insurance event and the amount of the deposit held is less than EUR 10;

2.3. to depositors or other persons who have the right of claim to an insurance compensation for deposit and who have been convicted in a criminal case of money laundering and/or terrorist financing in relation to the legality of the acquisition of the money held by these persons as a deposit.

Cases where the payment of insurance compensation for deposits is deferred

Please be informed that according to Article 7(4) of the Law on Insurance of Deposits and Liabilities to Investors, the payment of insurance compensation for deposits shall be deferred, when:

3.1. there is a lack of data justifying the right of the requestor to the insurance compensation for deposits or if the deposit is the subject of a legal dispute; until the data justifying the right to the insurance compensation for deposits is provided or until the final decision of the court is enforced resolving the deposit dispute;

3.2. the depositor’s right to access the deposit is limited in the cases and under the conditions provided for by laws; until these limitations are lifted;

3.3. no deposit-related transactions have taken place in 24 months preceding the date of the deposit insurance event; up to 3 months after the date of the deposit insurance event;

3.4. the insurance company receives information from the participant of the deposit insurance system in regard to the amount of insurance compensation for deposits, which will exceed EUR 100 000 due to reasons indicated in Article 4(2) of the Law on Insurance of Deposits and Liabilities to Investors, and for the amount exceeding EUR 100 000; until the amounts indicated in Article 4(2) of the Law on Insurance of Deposits and Liabilities to Investors are clarified, but no later than 3 months after the date of the deposit insurance event;

3.5. the eligible deposit is held in a joint or deposit account; until the amounts belonging to a specific person in a joint or deposit account are clarified, but no later than 3 months after the date of the deposit insurance event;

3.6. the payment of insurance compensation for deposits is made to the depositors of a branch established in a host Member State by a credit institution established in the Republic of Lithuania under Article 7(7) of the Law on Insurance of Deposits and Liabilities to Investors; until the administrator of deposit insurance system of a host Member State confirms that they are prepared to pay insurance compensation for deposits;

3.7. the payment of insurance compensation for deposits is made to the depositors of a branch established in the Republic of Lithuania by a credit institution having its registered office in another Member State under
Article 7(8) of the Law on Insurance of Deposits and Liabilities to Investors; until the administrator of deposit insurance system of a Member State of the registered office, where the credit institution that has established a branch in the Republic of Lithuania is a participant of that system, provides the information to the insurance company that is required for the payment of insurance compensation for deposits and transfers the amount of funds required for the payment of insurance compensation for deposits;

3.8. depositor or other person who has the right of claim to an insurance compensation for deposit is charged with money laundering and/or terrorist financing in relation to the legality of the acquisition of the money held as a deposit; until the date of becoming effective of the final decision of the court.

Detailed information on the terms and conditions of deposit insurance and cases in which deposits are not covered with insurance and restrictions to payment of deposit insurance benefits apply is available on the website of the P.I. Deposit and Investment Insurance www.iidraudimas.lt.

In accordance with the Republic of Lithuania Law on Insurance of Deposits and Liabilities to Investors, liabilities to investors are insured by the public institution Deposit and Investment Insurance under the terms and conditions laid down in the Law:

The insurance of liabilities to investors serves to insure the Bank’s liabilities to investors (natural and legal persons) to return financial instruments, regardless of the currency in which they are denominated and/or funds in all currencies.
The amount of insurance coverage of liabilities to investors shall be equal to the liabilities undertaken by the Bank to the Investor on the date of the insured event however may not exceed EUR 22, 000. When calculating the insurance benefit, the liabilities to investor include only those securities and money of the investor that the Bank is incapable of returning to the Investor.
When calculating the amount of insurance compensation for liabilities to investors, all financial instruments and money, which the Bank is incapable of returning to the investor, of one investor are aggregated (including subsidiaries, representations, other structural divisions of the investor’s legal entity or other organisation), however, the total amount of insurance benefit for liabilities to one investor shall not exceed EUR 22, 000.
The Bank’s liabilities to the following entities shall not be the object of insurance of liabilities to investors: the Bank of Lithuania, credit institutions, financial brokerage firms, financial institutions, insurance companies and reinsurance companies, insurance companies and reinsurance companies established in other member states and third countries, pension funds, collective investment entities.
Payments of insurance compensation for liabilities to investors shall not be made:

for the Bank’s liabilities that are not covered with the insurance of liabilities to investors to the above listed entities;
to investors holding financial instruments and/or funds regarding which a conviction was handed down resulting from a criminal proceeding on money laundering;
heads of administration of the Bank, members of council and board (supervisory) board, persons holding at least 5 per cent of the share capital of the Bank, persons performing independent audit of the Bank (who performed an audit not more than one year before the insured event of liabilities to investors) and close relatives and third parties acting in the name of the afore-listed persons.

Examples of circumstances and claims that shall not be subject to the insurance system:

The object of the insurance of liabilities to investors is not the investment risk. If the issuer fails to redeem the debt securities or the value of the financial measure decreases, this shall not be the object of the insurance of liabilities to investors.

The investor shall acquire the right to the insurance compensation for liabilities to investors from the date of the insured event of liabilities to investors. An insured event – opening of the insolvency proceedings or the decision of the supervisory authority to recognise the Bank insolvent, where the Bank is incapable of fulfilling its obligations to investors for the reasons related to its financial state – is the grounds to consider that it will be unable to do that in the nearest future.
The investor acquires the right to the insurance compensation for liabilities to investors in the case where the Bank is incapable of fulfilling the following obligations to the investor under legal acts or contracts:

To repay to the investor money owned by the investor and held in its name, which the bank owes the investor, and which are held for the investor's benefit while using the investment services provided by the bank;
To repay to the investor financial instruments owned by the investor and held in its name, handled or managed by the investor which have been transferred (entrusted) to the Bank to make use of the investment services provided by the Bank.

The amount of insurance compensation for liabilities to investors shall be calculated at the market value of the financial instruments of the investor on the day of the insured event of liabilities to investors. The amount of insurance compensation for liabilities to investors held in foreign currency shall be calculated in accordance with the indicative exchange rates of the euro and foreign currencies last published by the European Central Bank on the day of the insured event of liabilities to investors, and in the cases when the European Central Bank does not publish the exchange rates of the euro and foreign currencies – in accordance with the indicative exchange rates of the euro and foreign currencies last published by the Bank of Lithuania.
The compensation for liabilities to investors shall be paid out without requesting from the investor to lodge a request to the insurance company. The compensation for liabilities to investors shall be paid within 3 months from the day of the insured event of liabilities to investors. In exceptional circumstances insurance company, in agreement with the Bank of Lithuania, may extend this time limit for no more than 3 months. The investors shall have the right to claim the reimbursement of compensations for liabilities to investors which shall be valid for 5 years from the date of the payment of compensation for liabilities to investors.

For more details visit the website of the public institution Deposit and Investment Insurance.

Not a customer yet?

Information about deposit and liability insurance for investors

Jūsų Internet Explorer naršyklė nebepalaikoma.

Prašome naudoti Google Chrome, Mozilla Firefox ar Microsoft Edge naršykles.

Useful links

Legal information