The Bank Deposit Guarantee Fund (FGDB) was set up in 1996, as the only guarantee scheme in Romania.
Starting with the autumn of 2011 the attributions of FGDB widened up. FGDB could participate in implementing banking resolution measures in case the National Bank of Romania would decide on them. The banking resolution measures are part of the activity of keeping the stability of the Romanian banking system.
Since it’s beginning, FGDB got involved in solving the problems generated by the bankruptcy of credit institutions. FGDB paid compensations for the depositors of the following banks after their insolvency: Albina, Bankcoop, Banca Internaţională a Religiilor, Banca Română de Scont, Banca Turco-Română, Banca Columna and Nova Bank. FGDB had been appointed liquidator for some bankrupt banks failed banks and recovered important parts of the assets.
Internationally, FGDB is an active member of the two professional organizations: European Forum of Deposit Insurers - EFDI and International Association of Deposit Insurers - IADI. FGDB develops and maintains collaborative relations with similar institutions around the world, promoting experience exchange and identifying specific best practice cases.