Bank Guarantee Fund definition

Bank Guarantee Fund means the Bank Guarantee Fund as defined in the Act on Bank Guarantee Fund dated 14th December, 1994 enacted under Polish law.
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Bank Guarantee Fund means the Bank Guarantee Fund established pursuant to the Bank Guarantee Fund Act of 14 December 1994 (uniform text Journal of laws of 2000 No. 9 section 131, as amended).
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Bank Guarantee Fund has the meaning given to it in the Polish Act on the Bank Guarantee Fund dated 14 December 1994 (unified text in the Journal of Laws of 2000, No. 9, item 131). Base Currency means euro.
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Examples of Bank Guarantee Fund in a sentence

  • However, the rules on compensation claims related to the public procurement procedure, is also problematic.

  • Deposits opened at the Bank are guaranteed pursuant to the Act of 10th of June 2016 on the Bank Guarantee Fund, Deposit Guarantee System and Forced Restructuring (Journal of Laws of 2016 item 996).The guarantees of the Fund cover in 100% PLN equivalent of up to 100 000 EUR.

  • The following deposits shall not be covered by the protection: 1) State Treasury; 2) National Bank of Poland; 3) Banks, foreign banks and credit institutions referred to in the Banking Law Act; 4) Credit unions and the National Credit Union (Krajowa Spółdzielcza Kasa Oszczędnościowo-Kredytowa); 5) Bank Guarantee Fund; 6) Financial institutions; 7) Investment firms referred to in Art.

  • Pursuant to the rules of guaranteed deposit protection fund under the Bank Guarantee Fund Act dated 14 December 1994, as amended, as at 31 December 2013 the Bank’s books contained Treasury bonds in the nominal value of PLN 60,000, which were separated from assets, to secure the Protection Fund of Guaranteed Deposits under the BGF.

  • Moreover, the assets of Clients at mBank are protected on the basis of the regulations on the Bank Guarantee Fund and the regulation on the system ofcompensation created by Krajowy Depozyt Papierów Wartościowych S.A. (the National Depository of Securities).

  • The Bank Guarantee Fund (the BFG, the "Fund"), an institution managing the deposit guarantee scheme in Poland, was created by the Act on the BFG in 1994 which has been in force since 17 February 1995.

  • The PKO BP SA Group had the following assets pledged as collateral/security for its own liabilities: Fund for Protection of Guaranteed MoneyPKO BP SA creates a fund for the protection of guaranteed money in accordance with Article 25 of the Act on the Bank Guarantee Fund (Bankowy Fundusz Gwarancyjny) dated 14 December 1994.

  • If the deposit is not available because the entity covered by the guarantee scheme is unable to fulfil its financial obligations, disbursements to depositors shall be made by the Bank Guarantee Fund.

  • The Bank has the right to early repayment of the loan after 5 years, subject to the approval ofthe Bank Guarantee Fund.

  • Each commissioner shall have been a resident of the county for 5 years next preceding his appointment and shall be an elector of the county.


More Definitions of Bank Guarantee Fund

Bank Guarantee Fund has the meaning given to it in the Polish Act on the Bank Guarantee Fund dated 14 December 1994 (unified text in the Journal of Laws of 2000, No. 9, item 131). Base Currency means euro. Base Currency Amount means, in relation to a Loan, the amount specified in the Utilisation Request delivered by a Borrower for that Loan (or, if the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date which is three Business Days before the Utilisation Date or, if later, on the date the Agent receives the Utilisation Request) adjusted to reflect any repayment or prepayment of the Loan.
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Bank Guarantee Fund has the meaning given to it in the Polish Act on the Bank Guarantee Fund dated 14 December 1994 (unified text in the Journal of Laws of 2007, No. 70, item 474).
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Related to Bank Guarantee Fund

  • Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Class A Cash Collateral Account means an Eligible Deposit Account in the name of the Subordination Agent maintained at an Eligible Institution, which shall be the Subordination Agent if it shall so qualify, into which all amounts drawn under the Class A Liquidity Facility pursuant to Section 3.5(c), 3.5(d), 3.5(i) or 3.5(m) shall be deposited.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Class B Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Class A Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • LC means Letter of Credit

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Cash Collateralization has a correlative meaning.

  • Administrative fund means that Fund established by Section 6.1 and administered pursuant to Section 6.9.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Performance Letter of Credit means any standby Letter of Credit which represents an irrevocable obligation to the beneficiary on the part of the Issuing Bank to make payment on account of any default by the account party in the performance of a nonfinancial or commercial obligation.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Cash Management Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person under or in respect of a Cash Management Agreement.

  • Matured LC Obligations means all amounts paid by LC Issuer on drafts or demands for payment drawn or made under or purported to be made under any Letter of Credit and all other amounts due and owing to LC Issuer under any LC Application for any Letter of Credit, to the extent the same have not been repaid to LC Issuer (with the proceeds of Loans or otherwise).