Qualifying deposits (see explanation below) in Handelsbanken NUF of up to NOK 2 million per depositor are covered under the deposit guarantee.
Qualifying deposits mean deposits by private individuals, corporations, associations and non-profit organisations. Public sector and financial institutions are exempted from coverage. Financial institutions that are exempted from coverage include banks, insurance companies, pension schemes, securities undertakings, securities funds, etc. Nevertheless, individual and collective occupational pension schemes are covered.
The maximum limit of NOK 2 million may be increased for up to 12 months in the case of deposits relating to particular life events, such as inheritance, divorce, insurance payments, the sale of a house, etc. Any debt that the depositor may have to the bank must be deducted if the debt has come due for payment and the bank has a right of setoff under general rules of law. Payments by the deposit guarantee scheme will generally take place within one week of the deposit ceasing to be available, for example because the bank has been subject to liquidation under public administration.
Handelsbanken NUF is a member of both the Swedish and the Norwegian deposit guarantee schemes which are regulated under the Swedish Deposit Guarantee Scheme Act (1995:1571) and Chapter 19 of the Norwegian Financial Institutions Act with regulations. The first 100,000 euros are covered by the Swedish scheme. The remaining amount is covered by the Norwegian scheme.