31 December 2010 enforces an amendment to the Law on Bank Deposit Guarantee (LBDG), under which the level of coverage has been increased from BGN 100 000 to BGN 196 000.

In accordance with the amendment guarantee on bank deposits has been raised, whereas as of 31 December 2010 the BDIF guarantees payout in full of deposit amounts, regardless of their number and size, up to BGN 196,000 per depositor per bank. Guaranteed are deposits of physical persons and legal entities in national and foreign currencies.

LBDG amendment is introduced with § 68. of the Law on Payment Services and Payment Systems, published in Darjaven Vestnik, issue 101 of 28 December 2010.

Directive 2009/14/EC of 11 March 2009 amending Directive 94/19/EC on deposit-guarantee schemes as regards the coverage level and the payout delay requires by 31 December 2010 EU member states to provide deposit guarantee of EUR 100,000. Alignment of deposit guarantee regulations aims at enhancing member states depositors’ trust in the EU financial sector, as well as providing further stability in the Community financial market.