About Us

Mission

To ensure the protection of deposits and liabilities to investors in the event of the insolvency of financial institutions, thereby contributing to the stability of the financial market and strengthening public confidence in financial institutions.

Vision

To be the institution that provides the most attractive deposit and investor compensation insurance system for financial institutions in the Baltic States.

Values

Openness – fostering an attractive, modern, and innovative working environment while maintaining smooth and close cooperation within the broader ecosystem of deposit guarantee and investor compensation schemes.

Result Orientation – striving to achieve better results within shorter timeframes.

Effectiveness – conducting transparent and socially responsible activities that have a positive impact on the stability and reliability of the financial sector.

Strategic Objectives

  • To maintain the stability of the deposit guarantee system.
  • To ensure the efficient management of the funds administered by the Institution.
  • To ensure the sustainability of the Institution’s operations.

More about the Company:

The Institution was established in 1996 and is a public legal entity with limited civil liability.

The Lithuanian deposit guarantee and investor compensation system is fully aligned with European Union legislation and complies with the fundamental principles governing deposit guarantee schemes within the European Union.

Governance of the Company:

The rights and obligations of the owner of the Institution are exercised by the Ministry of Finance of the Republic of Lithuania.

Supervisory Board

Chairperson:
Vilma Mačerauskienė, Director of the Financial Markets Policy Department, Ministry of Finance of the Republic of Lithuania.

Deputy Chairperson:
Lina Frejutė, Head of the Accounting Information Systems Strategy Management Group, Ministry of Finance of the Republic of Lithuania.

Members of the Supervisory Board:

  • Vilija Petronienė, Senior Adviser, Financial Markets Policy Department, Ministry of Finance of the Republic of Lithuania;
  • Renata Bagdonienė, Director of the Prudential Supervision Department, Bank of Lithuania;
  • Nijolė Valinskytė, Director of the Financial Stability Department, Bank of Lithuania.

Management

The sole management body of the Institution is its Director, Aurelija Mažintienė.

Company insures:

In accordance with the provisions of the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania (the Law), the Institution provides insurance coverage for deposits held by depositors of banks and credit unions (collectively, credit institutions), as well as for liabilities to investors assumed by banks, financial brokerage firms (FMIs), and management companies authorized to provide investment services. The Institution has been providing insurance for liabilities to investors since mid-2002.

The Institution insures deposits in all currencies and covers obligations to return financial instruments and/or cash to investors, regardless of currency. The insured objects and exclusions from insurance coverage are established by the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania.

Funds Administered by the Institution

  • Deposit Insurance Fund
  • Investor Compensation Fund
  • Resolution Fund

Insurance Contributions

In accordance with the Law, the annual contributions payable by participants of the Deposit Insurance Fund are determined once per year. The total annual contribution amount is established by the Minister of Finance and is based on the volume of covered deposits held by participating institutions and their respective risk coefficients. Contributions are allocated proportionally among participants and paid on a monthly basis.

Participants in the Investor Compensation Fund, including credit institutions providing investment services, financial brokerage firms, and management companies, pay contributions once per year. The amount of the contribution depends on the nature of the services provided. Annual fixed contributions range from EUR 868 to EUR 2,896. In certain cases, additional contributions are payable and are calculated based on the total value of client orders executed during the preceding calendar year.

Participants in the Resolution Fund pay annual contributions as determined by the Single Resolution Board.

Investment Policy

The Institution’s own capital is invested in accordance with the Procedure for the Investment of the Institution’s Own Capital Funds, approved by Order No. 1K-257 of the Minister of Finance of the Republic of Lithuania of 23 June 2016 (as amended).

The assets of the Deposit Insurance Fund and the Investor Compensation Fund are invested in accordance with the Investment Rules for the Deposit Insurance Fund and the Investor Compensation Fund, approved by Resolution No. 02-5-2.1 of the Institution’s Board of 4 April 2016 (as amended).

The assets of the Resolution Fund are invested in accordance with the Investment Rules of the Resolution Fund, approved by Resolution No. 03-217 of the Board of the Bank of Lithuania of 31 December 2015 (as amended).

In line with a conservative investment strategy, the Institution’s investment portfolio is concentrated primarily in sovereign debt securities issued by central governments.

Insurance Payouts

Upon the occurrence of an insured event under the deposit insurance scheme or the investor compensation scheme, the Institution pays compensation to eligible depositors or investors in accordance with the Law on Insurance of Deposits and Liabilities to Investors of the Republic of Lithuania.

Following the payment of compensation, the Institution acquires, to the extent of the compensation paid, a creditor’s claim against the failed credit institution, financial brokerage firm, or management company.