several times over time: Between October 1986 and March 1992 the coverage was 100% of TL 3 millions and 60% of the next TL 3 millions; between March 1992 and April 1994 the coverage was 100% of TL 25 millions and 60% of the next TL 25 millions; between April 1994 and May 1994 the coverage was TL 150 millions without co-insurance. In the wake of the crises in 1994, all deposits have been brought under coverage between May 1994 and June 2000. Between June 2000 and December 2000 the coverage was TL 100 billions which then reduced to TL 50 billions in January 2001 just to be replaced by another blanket guarantee between July 2003 and July 2004. Since then coverage limit remained at TL 50 billions. _Sources_ : Central Bank of Turkey (1983), Own survey of deposit insurers, IADI Survey: Turkey (2003).

**Turkmenistan.** In 2000 Turkmenistan introduced a full guarantee on deposits including those denominated in foreign-currency. It is officially administered and has a compulsory membership policy. _Source_ : Barth, Caprio, and Levine (2004).

**Uganda.** ( _Deposit Insurance Fund, Financial Institutions Act, 1993_ ) The fund in Uganda was established in 1994. It is officially administered by the Bank of Uganda and jointly funded. Membership is mandatory for all banks and credit institutions and they are required to pay a 0.2% flat rate assessed annually on weighted deposit liabilities. The coverage is U Sh 3 millions per depositor per institution. Foreign currency and inter-bank deposits are not covered. _Sources_ : Bank of Uganda (2004), IADI Survey: Uganda (2002).

**Ukraine.** ( _Fund for the Guarantee of Deposits of Natural Persons, Decree 996/_ 98) The deposit guarantee scheme of Ukraine was established in September 1998. It is officially administered and jointly funded. The initial capital of UAH 20 million was provided by the National Bank of Ukraine and will lend when necessary. Deposits of insiders and their families, as well as inter-bank deposits are excluded. The coverage limit was initially set at UAH 1,200, which was raised to UAH 1,500 in 2003. _Source_ : Garcia (1999), IADI Member Profiles: Deposit Guarantee Fund-Ukraine.

**United Kingdom.** _(Deposit Protection Fund, Banking Act of 1979 and 1987; Financial Services Compensation Scheme)_ The fund in the UK was established in 1982. The system  is government legislated and privately administered and funded. The central bank made loans in the past but there is now no public funding for the DIS. There is no permanent fund in place and membership is mandatory. Banks make expost contributions when needed. Deposits of financial institutions are not covered by the system. The coverage limits have evolved as follows over time: in 1982 compensation limit was 75% of first ₤10,000 which was raised to 75% of ₤20,000 in May 1987. In July 1995, the Scheme was amended by the Credit Institutions Regulations and maximum payment was changed to 90% of ₤20,000 or EUR 20,000, whichever is higher. The Financial Services Compensation Scheme came into existence in December 2001 and the scheme changed the coverage to 100% of the first ₤2,000 and 90% of the next ₤33,000. Currently, deposits in all currencies are covered on a per depositor per institution basis. _Sources_ : Own survey of deposit insurers, Garcia (1999), IADI Survey: UK (2003), Kyei (1995).

**United States.** _(Federal Deposit Insurance Corporation-FDIC, Federal Reserve Act)_ The US deposit insurance system was established in 1934 in response to the Great Depression. It is government legislated and administered and jointly funded. The government provided initial capital, borne losses of the savings & loan associations in the past. Membership is compulsory for nationally chartered and for almost all statechartered banks and thrifts. Premiums are risk-adjusted and can range all the way from 0% to 0.27%. Deposits booked off-shore are not covered. Initially the coverage limit was set at $5,000. The coverage limit has been increased several times as follows: $10,000 in 1950, $15,000 in 1966, $20,000 in 1969, $40,000 in 1974, and finally $100,000 in 1980.

_Sources_ : Federal Deposit Insurance Corporation (1996), Garcia (1999), IADI Survey: USA (2003), and Kyei (1995).

**Uruguay.** ( _Bank Deposits Collateral Fund, Superintendency of Bank Savings Protection_ ) Law on protection of bank deposits was enacted on December 27<sup>th</sup> , 2002 creating a Bank Deposits Collateral Fund and a Superintendency of Bank Savings Protection.  However, although Uruguay has established a deposit insurance system, it is not yet regulated. The Financial System Restructuring Act in Uruguay authorizes the executive branch to set aside part of its resources to cover deposits up to US$ 100,000. _Sources_ : Central Bank of Uruguay (2002), IADB (2005).

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