Are credit institutions headquartered in Croatia required to make double contributions – one to the national resolution fund and one to the Single Resolution Fund since Croatia joined the Single Resolution Fund?

Published: 3/6/2020 Modified: 17/5/2022

No, credit institutions headquartered in Croatia 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), 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 Croatian Deposit Insurance Agency (CDIA).

The CDIA has continued to collect annual contributions from credit institutions headquartered in Croatia in the same way it did before Croatia joined the Single Resolution Mechanism (SRM), but this time it does so in accordance with the orders and the instructions from the Single Resolution Board (SRB). The amounts collected by the CDIA are transferred to the account of the Single Resolution Fund (SRF).