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.

 

2°) All amounts deposited in savings accounts guaranteed by the French government are covered: Livret type 'A' savings accounts (and Livret type ‘Bleu’ Crédit Mutuel savings accounts), Livret type ‘LDDS’ and ‘LEP’ savings accounts. These accounts are covered by the French government guarantee up to € 100,000 per customer, per institution. This guarantee is independent of and added to the guarantee that covers other deposit accounts.

 

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 or covered by another guarantee scheme include:

  • life insurance policies and capitalisation policies purchased from 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 with a holder who cannot be identified;
  • electronic-based cash and payment cards issued by a payment institution or an electronic money institution (Monéo or Nickel account);
  • deposit of equity (partnership shares);
  • cash vouchers;
  • cryptocurrencies.

 

→ Click here to download the FGDR fact sheet.