National Deposit Insurance Society (SEDESA) is an anonymous society created in 1995 to manage the Deposit Guarantee Fund. This circular regulates the duties and responsibilities of SEDESA shareholders. All financial institutions are required by law to make financial contributions to SEDESA.
Individual contributions will be determined by both the total funding needed by SEDESA, and the number of participants contributing to the fund. If an entity is liquidated and withdraws from the fund, there will be a proportional increase in the contributions of other entities.
The circular also establishes the coverage to which entities are entitled after payment. The maximum awarded coverage is 350,000 US dollars. Interest rates should not exceed the BADLAR rate by more than 200 basis points (calculated in pesos).
