Members’ deposits will be insured, in accordance with current legislation, regardless of the cause of dissolution, and provided that the Coopac complies with the requirements and has contributed to the FSDC for at least 24 months, SBS reported.
The Cooperative Deposit Insurance Fund (FSDC) will cover the deposits of members in cases where the cause for intervention is not lifted and the direct dissolution of a Savings and Credit Cooperative Not Authorized to Collect Resources from the Public (Coopac).
This Friday, July 19, the Superintendency of Banking, Insurance and AFP (SBS) published SBS Resolution No. 02538-2024, which modifies the Regulations of the Cooperative Deposit Insurance Fund, approved by SBS Resolution No. 05061-2018, as well as the FSDC Statute, approved by SBS Resolution No. 00158-2020 and its amendments.
From now on, the deposits of the partners will be insured, in accordance with current legislation, regardless of the cause of dissolution, and “provided that the Coopac complies with the requirements and has contributed to the FSDC for at least 24 months,” the SBS reported. The Republic.
The entity explains that the FSDC’s main objective is to protect those who make deposits in Coopacs under the scope established in its General Law; however, its previous regulations established procedures and conditions for the payment of deposits covered only upon declaration of intervention of a level 1 or 2 Coopac.
In some cases, the dissolution of a level 1 or 2 Coopac may be declared directly, for reasons other than the failure to lift the cause that gave rise to the declaration of intervention of the entity.in accordance with the provisions of the Regulations on Special Regimes and the Liquidation of Coopacs, approved by SBS Resolution No. 5076-2018 and its amendment.
“Considering that the FSDC is designed to protect the deposits of members of all Coopacs that meet the requirements to be members, its coverage must also operate in cases of dissolution for reasons other than the failure to lift the cause that gave rise to the declaration of intervention of the entity,” says the superintendency.
Source: Larepublica
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