What institutions are covered?

What institutions are covered?

Nearly 500 institutions are covered by the FGDR

Any credit institution or investment firm that receives approval from the ACPR becomes a member of the Fonds de Garantie des Dépôts et de Résolution (FGDR) and is required to contribute to it. Membership in this scheme is a prerequisite for conducting their business in France.

 

 

 

 

 

 

At 31 December 2017, the Fonds de Garantie des Dépôts et de Résolution had 480 members, many of which participate in several schemes.

Taken separately, each mechanism currently has:

The National Resolution Fund (NRF) has 80 members. 

 

FGDR member institutions

Data at 31/12/2017

 

FGDR MEMBER INSTITUTIONS IN FRANCE
Number of members by type of Institution
TOTAL :
480 FGDR member instituions
375 credit institutions (CI)
Members of the deposit guarantee scheme,
who may also be members of the investor compensation scheme and the guarantee of performance bonds scheme
77 investment firms (IF)
Members of the investor compensation scheme only
38 financing companies (FC)
members of the guarantee of performance bonds scheme and 4 of which are members of the investor compensation scheme
Number of members per guarantee mechanism
362 Members of the Deposit Guarantee Scheme
306 Members of the Investor Compensation Scheme
311 Members of the Guarantee of Performance Bonds Scheme

Source ACPR - 31 December 2017

 

To view and print the full list of member institutions, click here.

 

To search for a specific member institution, click here.

 

Bank deposit guarantee: approximately 400 institutions covered

All banks and credit institutions operating in France are covered by the FGDR's deposit guarantee scheme. Membership in this scheme is a prerequisite for conducting their business in France.

 

A credit institution may be authorised in France by the ACPR as a bank, a mutual or cooperative bank, a specialised credit institution or a municipal credit bank. All these categories of institutions may receive deposits or other repayable funds from the public. They are all therefore members of the FGDR. For the sake of simplicity, the term "bank" used elsewhere on this site may replace the more general term "credit institution".

 

→ Learn more about the deposit guarantee scheme.

What institutions are members of the FGDR’s deposit guarantee scheme?

As a prerequisite for conducting their business, all banks/credit institutions operating in France are members of the FGDR and are required to contribute to it.

 

The FGDR covers:

- banks/credit institutions licensed in mainland France, including subsidiaries of foreign banks whose head office is located in mainland France and in overseas departments or regions (Guadeloupe, French Guyana, Martinique, Mayotte, Réunion) and in Saint Pierre and Miquelon, Saint-Barthélemy and Saint-Martin, for their entire network in France and Monaco;

branches of the above-mentioned banks/credit institutions opened in the other member countries of the European Union and in the member countries of the European Economic Area countries;

- banks/credit institutions whose head office is located in the Principality of Monaco, for the deposits recorded in their books in these same countries, and at their branches in France, the Principality of Monaco and, where applicable, the other countries of the European Union and the countries of the European Economic Area;

- banks/credit institutions whose head office is located in French Polynesia, New Caledonia and Wallis and Futuna, including their branches in France and Monaco.

The FGDR does not cover the branches located in France and Monaco of banks/credit institutions whose head office is located in the other countries of the European Union and in the countries of the European Economic Area: these branches are covered by the guarantee scheme of their parent company.

The FGDR does not cover payment institutions or electronic money institutions. They do not have the status of a bank or credit institution and are therefore not members of the FGDR.

 

The FGDR does not cover :

- the branches located in France and Monaco of credit institutions whose head office is located in the other countries of the European Union and in the countries of the European Economic Area: these branches are covered by the guarantee scheme of their parent company;

- branches of credit institutions of non-EEA countries located in France;

- payment institutions (type Nickel Account) or electronic money institutions. They do not have the status of a bank or credit institution and are therefore not members of the FGDR.

 

The table below shows an indicative list of services that may or may not be covered by the deposit guarantee scheme.

 

"Neobanks" and Deposit Guarantee 
January 2019

 

COVERED BY DEPOSIT GUARANTEE

COVERAGE BY THE FGDR - FRANCE

Services offered by banks already licensed

Name of service or

brand

Type of service

Banking institution

Avantoo - 
Crédit Mutuel

Bank account and debit card associated with a mobile phone plan

Crédit Mutuel

C-Zam - 
Carrefour Banque

Current account, debit card with mobile app

Carrefour Banque 

Eko - 
Crédit agricole

Current account, international debit card with online app

Crédit Agricole 

Hello Bank
BNP Paribas

BNP Paribas on-line banking trademark

BNP Paribas 

New banks licenced as banking institutions

Boursorama

Licensed on-line bank

Boursorama

BforBank

Licensed on-line bank

BforBank 

Fortuneo

Licensed on-line bank

Fortuneo 

Monabanq

Licensed on-line bank

Monabanq 

Orange Bank

Licensed on-line bank

Orange Bank 

COVERAGE BY ANOTHER DEPOSIT GUARANTEE SCHEME (DGC)

Name of service or brand

Type of service

Institution and country

Ditto Bank - 
Travelex

International mobile bank

Ditto bank – Germany

Fidor Bank
(Allemagne – France)

On-line bank in Germany

Fintech activity acquired by the BPCE Group in France

Fidor Bank – Germany

No banking licence in France

ING Direct
(Netherlands)

French branch of a Dutch bank

ING Direct – Netherlands

N26
(Germany)

Current account and debit card on mobile app

N26 – Germany

Starling Bank
(UK)

Multi-currency current account, debit card on mobile app

Starling Bank - UK

 

NOT COVERED BY THE DEPOSIT GUARANTEE SCHEME

Name of service or brand

Type of service and institution

Nickel account

Alternative banking service (debit card).

Payment institution. No banking licence. 

(BNP Paribas Group)

Lydia

« Fintech » that develops person-to-person payment services on a mobile app.

Morning

Account and debit card with mobile app. 

Payment institution. No banking licence. 

(Banque Edel)

Raisin

« Fintech », banking intermediary. 

Products covered by their home institution. 

Revolut
(UK)

« Fintech » that develops payment services and international transfers on a mobile app.

 

- This is not a complete list. The FGDR communicates based on the information in its possession and is under no obligation in this regard.

- A website's customers are responsible for reviewing the terms of use of said site and, in particular, for knowing the legal form of the institution before completing a transaction.

 

To download the PDF version of the table above, click here.

 

Investor compensation scheme : approximately 325 institutions covered

All investment services providers operating in France are covered by the "investor compensation" scheme. Membership in this scheme is a prerequisite for conducting their business in France.

 

Banks and investment firms that provide the following securities transaction services, among others, are called "investment services providers":

 

- reception/transmission and execution of orders (RTO) on behalf of third parties;

- trading on financial markets;

- custody account-keeping;

- clearing of financial instruments.

 

To act as an investment services provider, a specific authorisation is granted by the ACPR. This authorisation may be granted either to a bank or to an investment firm, so called when its business is limited to this area of activity.

 

Therefore, an investment firm is only a member of the FGDR’s investor compensation scheme. A bank that also provides investment services is a member of both the deposit guarantee scheme and the investor compensation scheme.

 

Search for an investment services provider among the institutions covered by the FGDR.

For more information about the investor compensation scheme, click here

Guarantee of performance bonds: approximately 344 institutions covered

The FGDR covers: 

- All the credit or financial institutions (financing companies) whose head office is located in France or in the Principality of Monaco and which have requested authorisation to issue mandatory performance bonds required by a law or regulation. Membership in this scheme is a prerequisite for conducting their business in France.

 

This specific authorisation is issued to the credit institutions or to finance companies by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). 

 

Search for an institution among the institutions covered by the FGDR.

For more information about the performance bond scheme delivered by a bank scheme, click here

 

How are institutions operating abroad covered?

The FGDR cover:

 

- The French subsidiaries of foreign institutions. These institutions are FGDR members.  

 

 

The FGDR does not cover:

 

The French branches of banks and credit institutions whose head office is located in a European Economic Area country. They are covered by the deposit guarantee scheme of the country of their parent company. At the operational level, the regulatory measures resulting from the "DGSD2" directive stipulate that the FGDR compensates the customers of these branches opened within the EEA at the request of the fund of the country of the parent company. 

 

Customers of these branches are invited to contact their branch for detailed information about the applicable guarantee (type of deposits covered, exclusions, etc.). Pursuant to European regulations, the ceiling of €100,000 and the 7-day period continue to apply within Europe. The timetable for implementing these new measures may vary within the Union.

 

→ Click here to download the map of covered institutions.