Consulter la définition de mots techniques 

L’ensemble des protections du FGDR font appel à des mécanismes bancaires et financiers relativement complexes. Ce lexique vous propose la définition de nombreux termes techniques utilisés dans ce site ou dans les documentations du FGDR.

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UCITS - Undertaking for Collective Investment in Transferable Securities

Term that encompasses open-end investment companies (SICAV) and mutual funds (FCP). These entities manage portfolios of financial instruments (or securities) and issue units or shares which may be subscribed for by individuals or companies.  UCITS are authorised by the Financial Markets Authority (AMF i) (or a European regulator) and must comply with management and investment rules. UCITS offer the possibility, particularly for individuals, to access a portfolio of diversified financial instruments managed by a professional. Also called collectively managed savings products.

Source: Banque de France

UCITS management company

Company that manages’ UCITS i.e. carries out activities such as UCITS portfolio management and administration and, at times, marketing of units or shares.
Management companies are subject to AMF i authorisation. The list of authorised management companies can be viewed on the AMF website.

 

Source : Banque de France 

Unavailability

The inability of an owner to temporarily access their property due to an agreement, a court decision or a legal provision. 
The unavailability of deposits is the time at which the customers of a banking institution cannot access their deposits. This unavailability determined by the ACPR i immediately initiates the customer compensation process by the FGDR.

Source: Les clés de la banque

Unavailability date

With respect to the initiation of the FGDR’s deposit guarantee scheme, this is the date on which the ACPR i declares that an FGDR member bank is no longer able to return assets to customers. This date is declared as the “unavailability date” and marks the start of the customer compensation process and the appointment of a bank liquidator i.

 

Source: FGDR

Undivided co-ownership

Undivided co-ownership is a legal situation in which several people hold rights of the same kind, in equal or unequal proportion, to the same asset or to the same group of assets. The undivided co-ownership may be organised (with a nominee) or informal. NB: for application of the deposit guarantee scheme regulations, it is not necessary to identify the portion accruing to each of the undivided co-owners.

Source: FGDR

Undivided co-ownership accounts

An account opened in the name of “X and Y” is an undivided co-ownership account. The undivided co-ownership is treated as a separate person from its members. It is considered a separate customer and is compensated up to €100,000 separately from its members.

Source: FGDR 

Unsecured creditor

An unsecured creditor is a creditor that does not have any specific guarantee (lien, pledge, mortgage) which allows it to be paid before other creditors from the proceeds of the sale of the debtor's assets. Only the debtor's present and future assets serve as a guarantee of payment of its claim.  If an unsecured creditor is not paid, it may have the debtor's assets sold in order to be paid from the proceeds of the sale; however, it will be in competition with all the other creditors, particularly the preferential creditors.

Source: Service Public