YEREVAN, April 10. /ARKA/. The Central Bank of Armenia proposes to increase the size of guaranteed deposits in drams to AMD 10 million and in foreign currencies to the amount equal to AMD 5 million, Mher Abrahamyan, head of the central bank’s division in charge of regulation of the finance system, said in an interview with ARKA News Agency.

Now the guaranteed compensation for individuals’ deposits in drams is AMD 4 million and for those in foreign currencies AMD 2 million.

“It means it is proposed to increase the guaranteed deposits 2.5 times, and as a result, 95% of individuals’ deposits will be guaranteed,” Abrahamyan said.

He said that the regulator has prepared a package of amendments to the law on insurance of bank deposits, taking into account some financial and banking indicators, the population’s income, sizes of deposits and the number of depositors.

According to the central bank, deposits in the country’s banks totaled about AMD 1 728.4 billion in late February – residents’ deposits here amounted to AMD 1 331.8 billion, where deposits in drams amounted to AMD 481.6 billion and in foreign currencies to AMD 850.2 billion. --0--