consultation with the Bankers Committee. The central bank provides interest-free bridge financing. Deposits of large corporations, other banks, insurance companies and insiders are not covered. Deposits of small enterprises and small foundations along with the deposits of households are protected. Covered types of accounts are current and savings accounts, and bank-registered debt instruments. Deposits at branches of foreign banks established in other EU states are not covered. The coverage limits have historically taken the following values: HFL 25,000 in 1978, HFL 44,000 in 1996 and finally EUR 20,000 since 1998. There is no co-insurance.

_Sources_ : Garcia (1999), Garcia and Prast (2003), Institute of International Bankers (1996), Kyei (1995).

**Nicaragua.** The deposit insurance scheme of Nicaragua was established in 2001. It provides coverage of up to US$ 20,000 per depositor per institution. The system is officially legislated and administered. Membership to the fund is mandatory.

_Source_ : Barth, Caprio, and Levine (2004).

**Nigeria.** ( _Nigerian Deposit Insurance Corporation-NDIC, Act No. 22_ ) The scheme of Nigeria was established in 1998 by the military government. The federal government made an initial contribution to the fund and it can still extend loans. 40% of the Corporation’s equity is owned by the Federal Ministry of Finance and Economic Development Inc., and the remaining 60% is held by the Central Bank of Nigeria. Both the Central Bank and the Ministry of Finance are represented in the board which is chaired by the governor of the Central Bank. All categories of traditional deposits are covered except insider deposits, and deposits that serve as collateral for loans. The coverage per depositor has been N 50,000 (about $366 as of 2003). There is no co-insurance and membership to the fund is mandatory. The premiums are assessed at a flat rate of 0.94%.

_Sources_ : Alawode (1992), Garcia (1999), IADI Survey: Nigeria (2003), Kyei (1995), Talley and Mas (1990).

**Norway.** ( _Deposit Guarantee Fund_ ) The scheme of Norway was established in 1961. There are separate funds for commercial banks and savings banks. Both of these funds are privately administered and jointly funded. In Norway there was actually a guarantee fund for savings banks with voluntary membership in 1921 which became obligatory in 1924, whereas a guarantee fund for commercial banks was first introduced in 1938. However, Norway’s guarantee fund at the time is not considered a pure deposit insurance scheme so they had no official explicit deposit insurance until 1961. The government and central bank have borne losses in the past. There are seven members on the boards of the funds. One of the members is from the Central Bank, and the other is from the Banking and Securities Commission. Deposits of other banks and deposits of companies in the same group with the depository bank are excluded. The Commercial Banks Guarantee Fund provided unlimited coverage between 1962 and 1997. Since 1997, the maximum coverage amount allowed has been NOK 2 millions per depositor per institution.

_Sources_ : Own survey of deposit insurers, Garcia (1999), Gerdrup (2003), IADI Survey: Norway (2003), Kyei (1995).

**Oman.** The scheme of Oman was established in 1995. It is officially administered and jointly funded. The central bank matches half of the member banks’ premium contributions. The fund can borrow from the government, central bank and the member banks. Deposits of significant shareholders, directors and senior managers, illegal deposits and the deposit of auditors, parent, subsidiary and affiliated companies are excluded. The coverage is up to RO 20,000 or 75% of net deposits, whichever is less. The premiums are assessed at a rate of 0.2% but can range from 0.1% to 0.3% over time. _Source_ : Garcia (1999), Garcia (2000).

**Paraguay.** The deposit insurance scheme of Paraguay came into force in 2003. The coverage limit was set at 75 times the monthly minimum salary as of 2003. _Source_ : Barth, Caprio, and Levine (2004).

**Peru.** ( _Deposit Insurance Fund, Banking Law 1991_ ) The scheme was established in 1991. It is government legislated and privately administered. The Central Bank and the Treasury have made initial contributions. The Fund may borrow from the Treasury. All types of deposits, except bearer certificates for natural persons and non-profit organizations are covered. The premium is computed based on the maximum amount insured and applies only to deposit of individuals and non-profit institutions. The premiums are risk

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