INDEMNIFICATION AMOUNT The Fund shall reimburse the physical persons up to the level of: 100% of the total deposits of each physical person in a bank or savings house in the amount of up to Euro 10,000 in Denar equivalent, and 90% of the total deposits of each physical person in a bank or savings house amounting to between Euro 10,000 and 20,000 in denar equivalent, but not exceeding Euro 20,000 in Denar equivalent. The amount referred to in paragraph 1 shall comprise the principal of the deposit increased by the calculated and undue interest, as follows: 1) For Denar deposits, up to the discount rate of the National Bank of Republic of Macedonia valid for the appropiate period, if the valid interest rate for the appropriate deposits set by the bank for that period was higher than the discount rate; and 2) For foreign currency deposits up to quarterly EURIBOR for the appropriate period, if the valid interest rate for the appropriate deposits set by the bank for this period was higher than the quarterly EURIBOR. Deposit of one physical person shall be the total deposits that the physical person has in a bank or savings house. The reimbursement of Denar and foreign currency deposits shall be made in Denars.   Legal modifications of the indemnification amount N° Legal basis Indemnification amount Validation date 1 Banks and Savings Houses Act "Official Gazette of Republic of Macedonia" 29/1996 and 37/1998 75% of the total amount of savings per depositor, but not exceeding the amount of denar counter-value of 10,000 DEM. 06/08/1998 2 Deposit Insurance Fund Act "Official Gazette of Republic of Macedonia" 63/2000 1) 100% of the deposits amounting up to 1,500 EURO - payment in denars 2) 90% of the deposits amounting between 1,500 to 7,500 EURO, but no more than 7,500 EURO - payment in denars 06/08/2000 3 Changes on the Deposit Insurance Fund Act "Official Gazette of Republic of Macedonia" 29/2002 1) 100% of the deposits amounting up to 3,000 EURO,2) 90% of the deposits amounting between 3,000 to 10,000 EURO, but no more than 10,000 EURO - payment in denars 14/05/2002 4 Changes on the Deposit Insurance Fund Act "Official Gazette of Republic of Macedonia" 43/2002 1) 100% of the deposits amounting up to 10,000 EURO,2) 90% of the deposits amounting between 10,000 to 20,000 EURO, but no more than 20,000 EURO - payment in denars 03/07/2002