Once Croatia joins the SRM, will credit institutions headquartered in Croatia have to make double contributions, one to the national resolution fund and one to the SRF?

Published: 3/6/2020

No, credit institutions headquartered in Croatia will pay only one contribution.

Since the entry into force of the Act on the Resolution of Credit Institutions and Investment Firms (Official Gazette 19/2015, 16/2019 and 47/2020) i.e. since 28 February 2015, credit institutions and branches of the institutions from third countries headquartered in Croatia have been required to pay annual ex ante contributions to the national resolution fund managed by the State Agency for Deposit Insurance and Bank Resolution (DAB).

The DAB will continue to collect annual contributions from credit institutions headquartered in Croatia in the same way it did before Croatia joined the SRM, but this time it will do so in accordance with the instructions from the SRB and the amounts collected will be transferred to the account of the SRF.