278/1998 Sb.
DECREE
The Ministry of finance
of 12 October. November 1998
for the implementation of Act No. 58/1995 Coll., on insuring and financing exports
with State support and supplement of Act No. 166/1993 Coll., on the highest
Audit Office, as amended by later regulations, as amended by Act No.
60/1998 Sb.
88/2000: Sb.
355/2001: Sb.
29/2003: Sb.
407/2006: Sb.
62/2010: Sb.
116/2015: Sb.
The Ministry of Finance shall determine in accordance with § 3 (1). 1, § 4, paragraph 4. 5 and 7, § 6
paragraph. 2, 9 and 12 of Act No. 58/1995 Coll., on insuring and financing
export with State support and supplement of Act No. 166/1993 Coll.
Supreme Audit Office, as amended by later regulations, as amended by
Act No. 60/1998 Coll. (full text published under no. 151/1998 Coll.)
(hereinafter referred to as the "Act"):
§ 1
cancelled
§ 2
How to calculate insurance premiums export capacity
(Article 4, paragraph 5, of the Act)
Calculation of the required insurance capacity performs the export guarantee and
the insurance company, a. s., (hereinafter referred to as the "export insurance company"), and it
as the sum total of the values of export credit risks covered by the applicable
insurance contracts, reduced by the value of the anticipated payments
insured loans, the value of export credit risks contained in
the contracts of active reinsurance business, and values of export credit
the risks contained in contracts for the promise of insurance and values
unfinished contracts whose conclusion can be qualified
assume in the year for which the State budget is drawn up. The data are
placed in the breakdown according to the expected degree of risk of the insured event, the
individual business cases, the applicable insurance contracts also in
broken down according to their expected maturity.
§ 3
Method of creating funds for insuring export credit risks
(§ 4 para. 7 of the law)
(1) the funds for the insurance of export credit risks, which creates
export insurance company, are formed separately from other funds pursuant to
resources, which are
and the allocation of profits) on the basis of the decision of the general meeting of shareholders
executing the competence of the general meeting,
b) subsidies from the State budget the creation of these funds.
(2) the request for subsidies from the State budget pursuant to paragraph 1. (b))
export insurance company shall apply to the Ministry of Finance (hereinafter referred to as
"the Ministry") in drawing up the national budget, to the appropriate
the financial year. A justification for this requirement analysis of State funds and reserves
for the insurance of export credit risks in relation to the development of the insurance
engagement. ^ 4)
(3) when processing the proposal for subsidy from the resources of the State budget for
supplement insurance funds shall be based on the status of funds for the insurance
export credit risks that are created from the State budget in
the previous years, of the expected changes to these funds after
allocations from the distribution of the profit of the company, from the status of technical provisions, and
the estimate of expected cash flows from the premiums received, changes
the status of the technical provisions, premiums paid, paid
claims and recovered receivables in the current accounting period and
year for which the State budget is drawn up.
(4) the release of approved subsidies from the State budget in accordance with
decision of the Ministry on the basis of application of export insurance, in
that shows the actual state of export insurance company insurance exposures,
the status of the technical reserves and State insurance funds, to the end of the previous
quarter, a prerequisite for the coming period of at least 90 days, when
taking into account the expected cash flows of the premiums received, changes
the status of the technical provisions, premiums paid, paid
claims and recovered debts. These assumptions are
qualified estimate of export insurance company.
(5) in the event that as a result of the claims occurred in the export
insurance companies during the year to a decrease in the balance of funds and reserves ^ 5) under the
the limit laid down in paragraph 4, the export Department of insurance undertaking
replenishment of the funds referred to in paragraph 2.
(6) the total amount of funds and reserves ^ 5) must not be for a period longer than 3 months
fall below the amount of 1.5 billion. CZK.
(7) in the case of an expected decrease in the funds and reserves ^ 5) under the border
provided for in paragraph 6, the export insurance proceeds as follows:
and at the end of the calendar quarter) shall notify the Ministry Overview
the expected cases of indemnity,
(b) a copy of the Protocol) on the day that contains the results of the investigation of the insurance
event, date and shall notify the amount of the indemnity
(c) the Ministry shall submit a justified request) to supplement the funds
in the manner specified in paragraph 1 (b). (b)).
(8) after considering the eligibility requirement is the amount required according to the
paragraph 7 (b). c) released as subsidies from the State budget to the identification
on the creation of funds for the insurance of export credit risks.
§ 4
The ratio between the amount of funds and reserves and volume of premiums written engagement
(§ 4 para. 7 of the law)
To ensure the safe operation of export insurance ratios
between the amount of funds and reserves ^ 5) of at least 8% of the volume of insurance premiums
engagement ^ 4), less the insurance covered passive involvement
ensuring ^ 6). For insurance cases with exceptionally high premiums
the risk shall be the ratio between the amount of funds and reserves ^ 5) of at least 35
% of the amount of the insurance commitment ^ 4), less the insurance commitment
indoor passive reinsurance ^ 6).
§ 5
The share of export insurance premiums using reserves and funds
for the insurance of export credit risks
(§ 4 para. 7 of the law)
Sources of export insurance, if insurance benefits apply in the
the following order:
and) technical reserves for claims from the export export insurance
credit risks,
(b)) retained pursuant to § 3 (2). 1 (b). and the exhaustion, including)
retained earnings from previous years, and only to cover the loss
incurred for the current financial period,
(c)) retained pursuant to § 3 (2). 1 (b). (b)), and only on payment of
losses for the current financial period.
§ 6
cancelled
§ 7
Method of submission of the application for the endowment of the loss, and payment of subsidies
(Section 6, paragraph 4, of the Act)
(1) an application for the granting of subsidies to cover the losses of export
supported by funding from the operation of the Bank (hereinafter the ' subsidy to cover
loss ") from the State budget shall be submitted in the compilation of the State
the budget for the financial year. The application shall be accompanied by an overview of the
the State obligations arising from contracts for the acquisition of long-term
financial resources closed at the date of the request, an overview of the
estimated volume of long-term financial resources for the financial year
paid-up; and the foreseeable need for obtaining new financing sources
in the link to their use for the 31. December of the financial year.
(2) Subsidies to cover losses, provides a deposit during the year in
quarterly instalments on the basis of the facts reported in the accounts to
the end of each quarter. Advance enumerations subsidies to offset losses
submitted to the Department of the export Bank of the twentieth day of the month
following the end of the quarter. Subsidies to offset losses for
each quarter shall be provided to the 30th day from the start of examination
handouts to the quantification of subsidies by the Ministry. Advance subsidies on enumerations
offset losses for the fourth quarter, the Bank shall submit to the Department of export
According to the preliminary fact reported by 10. January
the following year. Export Bank financially settles the subsidy
to offset losses for the year with the Ministry under a special
the legislation governing the financial settlement with State
budget.
(3) as part of the application referred to in paragraph 2, the export Bank presents
also information about the status of a State guarantee, the information about the newly negotiated
business cases for the quarter, in particular, identification
the data exporter, the number of the credit agreement, a description of the project, the State of destination,
the agreed amount of contractual performance, method and the value of the collateral, and an overview of the
Receivables from banks supported the financing of the last day
the previous quarter, indicating the value of the claim without corrective
items and value adjustments, and value of the collateral
accounts receivable.
(4) in the event that the Department finds irregularities in enumerations
subsidies, inform the export Bank within three working days. The term
for the payment of losses in each quarter shall be suspended until such time as their
the removal of the export Bank.
§ 8
The method of calculating interest calling differences
(To Section 7a para. 10 of the law)
(1) interest rate difference is calculated according to the formula as follows:
YOO Tr YOO Rfix x x (Rt + Mb) Ds
ÚR = ----------- x ---- - ---------------- x ----- ,
100 360 100 360
where
ÚR-interest rate difference
WOW-the principal of the loan
Rfix-fixed interest rate
DS-the number of days in an interest-bearing loan principal balances for posting
period
RT-variable interest rate
MB-reward Bank exporter.
(2) For the purposes of determining a fixed interest rate shall apply the fixed reference
interest rate is announced every month the Organisation for economic cooperation
and development, and it
and applicable on the day of the signature) of the credit agreement between the Bank and exporter
the debtor, or
(b)) applicable on the day the bank interest rate is fixed in the period up to 120 days
prior to the conclusion of the credit agreement and increased by 0.20% per year, if the Bank
proven to such exporter rate committed within that period.
(3) for the purposes for which the variable interest rate is applied when
the provision of credit in the euro rate EURIBOR, respectively, in the provision of
the loan in u.s. dollar LIBOR rate for six-month deposits on
the interbank market, as published by Reuters and is valid for the first day
loan drawdown, respectively, the first day of the repayment of the loan, according to the relevant
the contract of export credit, and for the first day of each six-month period
drawing or repaying the loan.
(4) for the purposes of the determination of the principal of the loan will be used in the period
drawing of an export credit) the weighted average amount of credit drawn down under the
appropriate for a maximum six-month period,
(b)) the repayment of the principal value of export credit to date, and it
1. the date of commencement of the repayment period of an export credit with the Bank, the exporter is
for the first payment period shall be entitled to perform the consolidation so far
unpaid interest and their possible capitalization of the principal, and
2. on the first day of each six-month payment period is determined
the value of the principal for this installment period.
(5) For the purpose of converting the interest-rate difference to the Czech Crown is used
the foreign exchange market the Czech course our International Bank for euro or us dollars
valid on the last day of the relevant interest period from which the
the interest-rate difference counts. The resulting amount shall be rounded to the nearest thousand.
(6) the method of calculation of interest match Pattern differences is given in the
Annex No. 2.
§ 8a
The remuneration of the Bank, the exporter
The remuneration of the Bank, the exporter is determined by the mark-up of 0.50% annually to
floating interest rate for export credits with a value of the principal amount over 10
million euros or the equivalent in u.s. dollars and in the amount of
0.70% per year for all export credits with a value of principal to 10 million
up to EUR, or their equivalent in us dollars.
§ 9
Repeals the Decree 217/1995 Coll., to implement section 9 (a). a) and b)
Act No. 58/1995 Coll., on insuring and financing export with State
support and supplement of Act No. 166/1993 Coll. on the Supreme Audit
authority, as amended.
§ 10
This Decree shall take effect on the date of publication.
Minister:
Mgr. Freedom in r.
Č. 1
cancelled
Č. 2
Calculate call interest differences
e-mail room of the Ministry of finance/data box: ___;
The name and address of the Bank:
Identification of the contract:
Identification of the credit:
Fixed interest rate used:
The six-month rate of EURIBOR, LIBOR, respectively:
The remuneration of the Bank, the exporter (0.50% or 0.70% per year according to the value of the loan):
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Sequence. no date for the Principal balance of the number of Interest Payments Drawing interest from interest rate
administration of the loan the loan principal principal days basis fixed 6 m-IBOR difference
loan interest + reward EUR/
bank rates USD
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1 2 3 4 5 6 = 3 + 4-5 7 8 9 10 = 8-9
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The interest-rate difference rate........ EUR:
The negative difference-make up the difference to the Bank from the State budget:
A positive difference-Crown extraction of the consideration to the State budget:
Total balance for business case (call-outlet):
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Name, capacity and signature of the person authorized to act on behalf of the Bank, the exporter/or electronic signature:
Date:.............
Comment to calculate payment of interest differences
column 1-serial number of the filing within one credit
column 2-the date made by pumping and installment loan
column 3-the principal amount of the loan at the beginning of the billing period
column 4-amount of loan drawdown of the individual and/or the total, as of the date interest differences výpočtudorovnání
column 5-repayment of loan principal
column 6-principal loan balance
column 7-the number of days that the balance of the loan was in the amount specified in the sl 6
column 8-the value of the interest in euro or American dollars at a fixed rate
column 9-interest values in euro or American dollars EURIBOR rate LIBOR, respectively.
column 10-a positive difference-Crown extraction of the consideration to the State budget
the negative difference-make up the difference to the Bank from the State budget
1) § 5 para. 1 of the law No. 58/1995 Coll., on insuring and financing
export with State support and supplement of Act No. 166/1993 Coll.
Supreme Audit Office, as subsequently amended.
2) § 7 para. 1 of the law No. 58/1995 Coll., as amended by Act No. 60/1998 Coll.
3) § 6 para. 6 of Act No. 58/1995 Coll., as amended by Act No. 60/1998 Coll.
4) § 2 (b). s) Act No. 58/1995 Coll., on insuring and financing
export with State support and supplement of Act No. 166/1993 Coll.
Supreme Audit Office, as amended by later regulations, as amended by
Act No. 282/2002 Coll.
5A) § 2 (b). b) of Act No. 363/1999 Coll. on insurance and amending
some related laws (Act on insurance).
5) § 4, paragraph 4. 3 of Act No. 58/1995 Coll.
6) § 2 (2). 1 (b). e) Act No. 363/1999 Coll. on insurance and
changes to some related laws (Act on insurance), as amended by
amended.
1) if the rate of interest under the contract of export is lower than the minimum interest
rate famous to date of conclusion of the credit agreement, the minimum
the interest rate.
