|
Mission of the Fonds de Garantie des Dépôts
(Deposit Guarantee Fund)
The
Fonds de Garantie des Dépôts was established by the Act dated 25 June
1999 on savings and financial security. Its principal mission is to
compensate depositors of an institution, which can no longer meet its
liabilities, as quickly as possible and under certain conditions, notably
up to a limit of €70,000 per depositor.
It
may also be engaged for preventive reasons to stop a defaulting
institution trading without affecting the depositors.
Its
engagement, in coordination with measures taken by the French banking
commission, therefore represents a security measure for the French
banking system while at the same time giving confidence to
depositors.
Structure of the Fonds de
Garantie des Dépôts
Recovering losses incurred by the
Fonds de Garantie des Dépôts
|
