3.Eligible Savings
When any agricultural or fishery cooperative in Japan runs into difficulty, depositors are protected under the savings insurance system as shown below.
Savings for payment and settlement purposes: Full protection
General savings, etc.: Principal up to \10 million plus interest per depositor
|
Type of savings, etc. |
Protected amount |
||
| Savings eligible for protection under savings insurance system | Savings for payment and settlement purposes | Current savings, non-interest bearing ordinary savings, etc. | Full protection |
| General savings, etc. | Interest-bearing ordinary savings, time savings, savings at notice, saving-type savings, installment savings, The Norinchukin Bank debentures (safekeeping instruments such as interest-bearing bank debentures) | Principal up to a total of \10 million plus interest thereon.
Repayment for the portion in excess of \10 million is made according to the state of the failed cooperative’s assets. |
|
| Non-eligible savings, etc. | Foreign-currency savings, negotiable certificates of savings, The Norinchukin Bank debentures (other than safekeeping instruments such as discount bank debentures and interest-bearing bank debentures) | No protection.
Repayment is made according to the failed cooperative’s assets. |
|
