▁As ▁of ▁ 3 1 ▁December ▁ 2 0 1 5 , ▁the ▁Bo U ▁admin ister ed ▁the ▁U DP F ▁and ▁held ▁U G X : 3 1 2 . 8 ▁billion ▁belonging ▁to ▁U DP F . ▁The ▁bank ▁held ▁another ▁U G X : 9 . 6 ▁billion ▁belonging ▁to ▁the ▁U g anda ▁Micro fin ance ▁De pos it ▁Prote ction ▁Fund ▁( UM DP F ), ▁which ▁the ▁bank ▁also ▁admin ister ed . ▁ ▁Legisl ation ▁passed ▁in ▁ 2 0 1 6 ▁provided ▁for ▁the ▁mer ging ▁of ▁the ▁U DP F ▁and ▁the ▁U MD PF , ▁with ▁the ▁new ▁ag ency ▁being ▁separate ▁from ▁the ▁Bo U . ▁Those ▁changes ▁had ▁not ▁yet ▁been ▁implemented ▁as ▁of ▁August ▁ 2 0 1 6 . ▁The ▁World ▁Bank ▁is ▁assist ing ▁with ▁the ▁process ▁of ▁separ ating ▁the ▁functions ▁of ▁the ▁new ▁ag ency ▁from ▁those ▁of ▁the ▁Bo U . ▁ ▁Oper ations ▁The ▁U DP F ▁is ▁fund ed ▁by ▁prem iums ▁charged ▁to ▁every ▁lic ensed ▁depos it - accept ing ▁financial ▁institution ▁in ▁the ▁country . ▁Each ▁account ▁is ▁protected ▁up ▁to ▁U G X : 1 0 ▁million . ▁The ▁law ▁provides ▁for ▁all ▁depos itors ▁to ▁be ▁paid ▁within ▁ 9 0 ▁days ▁of ▁a ▁bank ▁failure ▁and ▁that ▁the ▁failing ▁institution ▁must ▁be ▁sold ▁by ▁au ction ing ▁its ▁assets ▁within ▁six ▁months ▁of ▁its ▁se iz ure ▁by ▁the ▁Bo U . ▁If ▁the ▁Bo U