7 - What deposits are covered and not covered by the FGDR?

1°) As a general rule the deposit guarantee scheme covers all amounts deposited in accounts at a bank regardless of the currency in which the accounts are denominated, including current accounts, demand or term accounts, savings passbook accounts (savings accounts, Livret Jeune accounts, etc.), home savings accounts and schemes (CEL, PEL), and cash accounts associated with equity savings schemes (PEA), pensions savings schemes (PER) or equivalent held at a bank.

 

FUNCTIONING

2°) All amounts deposited in savings accounts guaranteed by the French government are covered: Livret type ‘A’ savings account (Livret Bleu savings account in the Crédit Mutuel network), Livret Développement Durable (LDD) savings account and Livret d’Epargne Populaire (LEP) savings account. These accounts are covered by the French government guarantee up to €100,000 per customer, per institution. 

 

3°) In addition, the FGDR covers all securities and financial instruments:

  • stocks, bonds, units of an open-end investment company SICAV or mutual fund held (FCP) held in an equity savings scheme (PEA) or securities account;
  •  certificates of deposit negotiable debt instruments (TCN).

 

Important note: the investor compensation scheme is initiated only when two conditions are met:

1/ the securities have disappeared from your accounts; and

2/ the institution at which your account is held is in suspension of payments and cannot return or reimburse the securities.

 

LISTS OF PRODUCTS NOT COVERED BY THE FGDR

4°) Products not covered by the FGDR particularly include:

  • life insurance policies;
  • capitalisation policies with an insurance company;
  • pension savings schemes (PER, PERP, PEP) with an insurance company;
  • collective pension savings schemes (PERCO), inter-company collective pension savings schemes (PERCO-I), company pension savings schemes (PERE);
  • company savings schemes (PEE), inter-company savings schemes (PEI);
  • notes, coins and items entrusted to your bank's safety deposit department;
  • anonymous deposits or instruments;
  • cash recorded on an electronic medium (Monéo);
  • deposits of equity;
  • cash vouchers.

 

Click here to download the FGDR fact sheet.