1. The Central Bank may establish specialized funds that have independent legal personality for the purpose of protecting depositors, Insured, Beneficiaries, stabilize Licensed Financial Institutions undergoing a severe stress which may result in their being placed under resolution, bankruptcy, or negatively impact the financial stability in the State. 2. The Central Bank may impose levies or surcharges on such institutions, referred to in item (1) of this article, for the purpose of providing such specialized funds with the necessary resources to achieve their objectives. 3. The Board of Directors shall issue regulations related to the establishment and functioning of the specialized funds mentioned in this article, including their objectives and regulation, mechanism of their financing and the scope of coverage, risks they cover, benefits they provide when those risks occur, methods for their termination, and provisions for their liquidation, as the case may be.
Interpretation and application must be checked against the official text and current version.