Press Releases

Press Releases

 

This section presents the press releases published by the FGDR and the main current events.

 

Vincent Gros is appointed to the Board of directors of the Fonds de Garantie des Dépôts et de Résolution (FGDR)

 

PRESS RELEASE - 5 September 2017

 

On 1 July 2017, Vincent Gros was appointed member of the Board of Directors of the Fonds de Garantie des Dépôts et de Résolution alongside Chairman Thierry Dissaux, Chairman.

 

He succeeds François de Lacoste Lareymondie, who retired after serving two terms of office at the FGDR and following an exemplary career in the French Navy, on the French Council of State and then at the CIC banking group. His contribution to the FGDR was immense, particularly as regards the legislative and regulatory framework of its activities and the operational implementation of the compensation tools.

 

Vincent Gros has spent most of his career in the banking sector in France, Japan and the United States, at Société Générale, Euroclear France and LCH.Clearnet SA. In recent years, he was Corporate Secretary of the BRED Group and a member of the Executive Committee.

 

Thierry Dissaux, chairman of the FGDR Board of Directors, welcomed his arrival: "We are excited to welcome Vincent Gros. His extensive experience in governance, risk management and relations with the authorities will greatly help us to pursue our mission."

 

The FGDR, which is managed jointly by the Board members, is represented abroad by Thierry Dissaux as Chairman of the European Forum of Deposit Insurers (EFDI) and Vincent Gros as a member of the International Association of Deposit Insurers (IADI).

 

 

The Fonds de Garantie des Dépôts et de Résolution (FGDR)

The mission of the Fonds de Garantie des Dépôts et de Résolution (FGDR) is to protect and compensate customers in the event that their banking or financial institution fails. Created by the law of 25 June 1999 on savings and financial security, the FGDR manages three mechanisms: the deposit guarantee scheme, the investor compensation scheme and the performance bonds guarantee scheme. It intervenes before a failure on a preventative or resolution basis, or pays compensation to customers. A banking crisis operator in support of responsible finance, the FGDR plays a key role in ensuring the stability of the French banking system.

PRESS CONTACT : 

 

Emilie de Chezelles
emilie.dechezelles@clai2.com
T +33 (0) 1 44 69 54 05 / Mobile : + 33 (0) 7 77 26 24 60

Site web FGDR: www.garantiedesdepots.fr

 

 

To download the contents of this press release, click here.

 

 

The chairman of the FGDR Board, Thierry Dissaux, is elected Chairman of the EFDI, the European Forum of Deposit Insurers.

 

PRESS RELEASE - 4 October 2016

 

Thierry Dissaux is elected Chairman of the EFDI, the European Forum of Deposit Insurers, at its General Meeting held on 29 September in Vilnius, Lithuania.

 

Chairman of the French Fonds de Garantie des Dépôts et de Résolution (FGDR)  since 2011, Thierry Dissaux was unanimously appointed for a three-year term of office.

 

This appointment is testimony of the work carried out by the FGDR in launching then implementing the  Home/Host Cooperation (H2C)  project with the aim of organising effective operating cooperation among the European guarantee schemes, in the case of  cross-border compensation within the 31 countries of the European Economic Area, a project initiated by Thierry Dissaux and for which he has been responsible from its beginning two years ago.

 

François de Lacoste Lareymondie, member of the FGDR  Board of Directors, expressed the pride of the FGDR teams on this appointment: "This election is the reward for the progress made by the FGDR in recent years, expressed a few days ago by, among others, the approval of the Home-Host Cooperation agreement. It also gives us a special responsibility and encourages us to increase our collective efforts, at French, European and international levels, to contribute to an always more stable and responsible banking system, to serve depositors. "

 

The EFDI (European Forum of Deposit Insurers) was created in 2002 with the support of the European Commission and has currently 66 members, including 56 Deposit Guarantee Funds and 10 Investor Guarantee Funds, coming from 44 countries. Its action extends to European and international organisations, including the European Commission, the European Banking Authority (EBA), the World Bank, the International Monetary Fund (IMF), the European Banking Federation(EFB) and the International Association of Deposit Insurers (IADI), with which it is developing close working relations.

 

 

The Fonds de Garantie des Dépôts et de Résolution (FGDR)

The Fonds de Garantie des Dépôts et de Résolution (FGDR) is a public interest organisation whose mission is  to protect customers of a failed bank. By protecting customers' assets, the FGDR plays a key role in ensuring the stability of the French banking system. It covers 582 affiliated institutions and compensates customers on a preventative basis or on a bank crisis resolution basis..

PRESS CONTACT : 

 

Emilie Humann
Emilie.humann@clai2.com
T +33 (0) 1 44 69 54 05 / Mobile : + 33 (0) 7 77 26 24 60
FGDR Website :
www.garantiedesdepots.fr

 

 

To download the contents of this press release, click here.

 

 

THE EFDI, EUROPEAN FORUM OF DEPOSIT INSURERS, APPROVED THE HOME/HOST COOPERATION AGREEMENT (H2C) ESTABLISHED ON THE INITIATIVE OF THE FGDR

 

PRESS RELEASE - 28 SEPTEMBER 2016

 

The Fonds de Garantie des Dépôts et de Résolution (FGDR), which protects customers of a failed banking or financial institution, initiated by the Home/Host Cooperation project (H2C), with the aim of organising a with the aim of organising effective operating cooperation among European guarantee funds when they are led to cross-border compensation of depositors in the 31 countries of the European Economic Area.

 

This project was materialised by the approval of the whole EFDI, made official since 15 September, by a Home/Host Cooperation Agreement and a set of practices and related standards, expressing the wish of all the members of the EFDI to optimise their cooperation in the case of failed banks whose head office is located in one European country and with branches in another European country.

 

These documents fall within the context of the framework drawn up by European Directive 2014/49/EU relating to  deposit guarantee schemes (DGSD2) and the orientations set out in 2016 with regard to Home/Host cooperation by the European Banking Authority (EBA). In fact, the directive makes it mandatory for the customers of the European branch to be compensated by means of this country's guarantee fund ("Host" fund), on the instructions and under the responsibility of the guarantee fund of the failed bank's head office ("Home" fund). This agreement set out in concrete terms the  details for intervention and exchange among European funds (data transfer, IT protocols, communication rules, financial transfers, sharing costs, etc.), thus ensuring genuine functional and technical interoperability among them.

 

The conclusion of the H2C initiative, after two years' collective work, was fully and completely supported by the European Banking Authority. In a letter to the EFDI, Mr Andrea Enria, Chairman of the European Banking Authority, very involved in this project, stated that "the Agreement meets the requirements of the EBA's Orientations" and "encourages the members of the EFDI and the competent authorities designated by the Member States, to join this Agreement".

 

Thierry Dissaux, Chairman of the FGDR  Board of Directors, who, with the FGDR teams, coordinated this work, praised the remarkable involvement of the EFDI members. "They rose to the challenge of a consensus definition of all the legal and technical requirements necessary for ensuring their joint interoperability. Building such interoperability is probably unprecedented in the field of deposit guarantees schemes."

 

 

The Fonds de Garantie des Dépôts et de Résolution (FGDR)

The Fonds de Garantie des Dépôts et de Résolution (FGDR) is a public interest organisation whose mission is  to protect customers of a failed bank. By protecting customers' assets, the FGDR plays a key role in ensuring the stability of the French banking system. It covers 582 affiliated institutions and compensates customers on a preventative basis or on a bank crisis resolution basis.

PRESS CONTACT : 

 

Emilie Humann
Emilie.humann@clai2.com
T +33 (0) 1 44 69 54 05 / Mobile : + 33 (0) 7 77 26 24 60
FGDR Website : 
www.garantiedesdepots.fr

 

 

To download the contents of this press release, click here.

 

 

FGDR-IADI ERC INTERNATIONAL CONFERENCE ON FINANCIAL STABILITY :

« DIVERSITY AND HARMONISATION OF THE DEPOSIT GUARANTEE SCHEME »

CONCLUSIONS

 

CURRENT EVENTS- 11 JULY 2016

 

 

In May 2016, working meetings of the 48th Executive Council of the International Association of Deposit Insurers (IADI), including 80 deposit insurers from 77 countries, were held at the Fonds de Garantie des Dépôts et de Résolution (FGDR). 180 deposit insurers, representatives of central banks, European and international banking supervisors, academics and journalists participated at the international closing conference, organised jointly by the FGDR and the European Regional Committee of the IADI. This conference looked at the general movement to harmonise the principles and practices of the deposit guarantee schemes with the diversity of the models

On the basis of comparing experiences and testimonies, the deposit insurers defined their future strategic mission: "Crisis operators at the service of responsible finance".

 

To view the conference video, click on it

 

 

 

HOME/ HOST COOPERATION (H2C) INITIATIVE

 

CURRENT EVENTS - 11 JULY 2016

 

Changes in the European regulatory framework led the FGDR in mid-2014 to set up the "Home/Host Cooperation" within the EFDI (European Forum of Deposit Insurers). This is a European cooperation project intended, pursuant to the requirements of the "DGSD2" directive, to ensure the interoperability of the European guarantee funds among them and to enable them to manage cross-border compensation within very short periods: compensation currency, communications channels (telephone, e-mail, letters, etc.), communications language, financial reconciliation, cost sharing, etc.

 

To view the video, click on it

 

 

 

"DIVERSITY AND HARMONISATION OF DEPOSIT INSURANCE"
FGDR HOSTED DEPOSIT INSURERS FROM 77 JURISDICTIONS FOR AN INTERNATIONAL CONFERENCE ON FINANCIAL STABILITY ORAGNISED BY THE FGDR WITH DEPOSIT INSURERS FROM 78 COUNTRIES :

 

PRESS RELEASE - 6 June 2016

 

On Thursday, 26 May, an international conference attended by 82 deposit insurers from 78 countries was held at the Fonds de Garantie des Dépôts et de Résolution (FGDR), which protects customers if their banking or financial institution fails. It looked at the harmonisation of standards  in response to the diversity of the models and local realities.

 

All the players in the international "banking safety net" met in Paris.

 

This conference, held by the FGDR in Paris within the scope of the 48th  Executive Committee of the International Association of Deposit Insurers (IADI), was open to all players in financial security (supervisory authorities, regulators, economists, researchers and professionals, etc.).

 

After welcoming addresses by Thierry Dissaux, Chairman of the FGDR  Board of Directors, then by Thomas Hoenig, Chairman of the IADI, also Vice-Chairman of the Federal Deposit Insurance Corporation in the United States, the Director General of the Treasury, Bruno Bézard, spoke about the necessary of making progress in setting up the Banking Union to strengthen the stability of the European banking system and the protection of depositors. He stressed the importance of a balance between pooling and reducing risks.

 

Jan Nolte, senior financial analyst in the World Bank, then spoke about the Financial Sector Assessment Program (FSAP), the IMF and World Bank joint programme to assess the stability of national financial systems.

 

Four round tables with 20 speakers from 19 countries, as well as four representatives of international authorities. The discussions were organised in four theme-based round tables:

"STANDARDS": how the assessment of deposit guarantee schemes' international standards ("Core Principles") is adapted to local specificities?

"CRISES": being a deposit insurer and dealing with various types of crises (systemic financial crisis, natural disasters, multiple failures, etc.)

"MODELS ": harmonisation of practices: unification models?

"CROSSING BORDERS": Problems in treating resolutions and compensation of the customers of banking institutions with cross-border activities.

 

Click here to download the conference programme,

Click here to download the speakers' biographies and presentations.

 

DEPOSIT INSURERS AND CRISIS OPERATORS FOR RESPONSIBLE FINANCE

In his closing speech, Robert Ophèle, Deputy Governor of the Banque de France, emphasised that international cooperation can contribute greatly for the best protection of the banking systems and depositors. The progress made since the IADI was created in 2002 is spectacular. On this basis, the "Home-Host Cooperation initiative", supported by the FGDR within the European Forum of Deposit Insurers (EFDI), will enable European guarantee funds to co-ordinate their operations for compensating depositors of a bank with activities through branches in several European countries. Insuring deposits is a subject that concerns all the players in banking and financial stability.

To conclude this day, Thierry Dissaux, Chairman of the FGDR  Board of Directors, the event's host, put the deposit insurers and his organisation's future mission into perspective:

"In the light of these diversity and harmonisation stakes, no doubt the concept of deposit insurance only reflects some of the realities. At the FGDR, we are now convinced that the role of a deposit insurer is to be a crisis operator at the service of responsible financein the future. Our raison d’être is not only to prevent banking panics and interrupted banking services for depositors, but also to contribute to a stable and responsible banking system."

 

 

The Fonds de Garantie des Dépôts et de Résolution (FGDR)

The Fonds de Garantie des Dépôts et de Résolution (FGDR) is a public interest organisation whose mission is to protect customers of a failed bank. By protecting customers' assets, the FGDR plays a key role in ensuring the stability of the French banking system. It covers 582 affiliated institutions and compensates customers on a preventative basis or on a bank crisis resolution basis.

PRESS CONTACT : 

 

Emilie Humann
Emilie.humann@clai2.com
T +33 (0) 1 44 69 54 05 / Mobile : + 33 (0) 7 77 26 24 60
FGDR Website : www.garantiedesdepots.fr

 

 

 

Click here to download the contents of this press release

Click here to download the Panelists' Bios and presentations

 

 

THE FONDS DE GARANTIE DES DEPOTS ET DE RESOLUTION (FGDR) HAS RENEWED ITS SUPERVISORY BOARD

 

PRESS RELEAS - 12 MAY 2016

The Fonds de Garantie des Dépôts et de Résolution (FGDR), which protects customers of failed banking or financial institutions, renewed its Supervisory Board for a term of office of four years, on expiry of the preceding term of office. The Supervisory Board, at its meeting on 10 May 2016, elected its chairman and vice-chairman.

 

The Supervisory Board is composed of 12 members: 7 full members appointed from among the institutions contributing the most to the deposit guarantee scheme: 2 members elected from among member credit institutions of the deposit guarantee scheme, 2 elected from among the members of the investor compensation scheme and 1 member elected from among the performance bond scheme. A non-voting member appointed by the Minister for the Economy participates in board meetings. The Supervisory Board meets at least four times a year.

 

During the initial meeting on 10 May 2016, the Supervisory Board elected as Chairman

 

Nicolas Duhamel, Advisor to the chairman of the  Board of Directors of BPCE responsible for the public affairs of Groupe BPCE;

 

and as Vice-Chairman Laurent Goutard, Director of the Société Générale France retail bank.

 

Members of the Supervisory Board at 10 May 2016
Chairman
NICOLAS DUHAMEL
ADVISOR TO THE CHAIRMAN OF THE MANAGEMENT BOARD OF BPCE
IN CHARGE OF PUBLIC AFFAIRS BPCE GROUP
MEMBERS
Jean BEUNARDEAU
Chief Executive Officer of
HSBC FRANCE
Gilles LE NOC
Deputy Chief Executive Officer
CAISSE CENTRALE CRÉDIT MUTUEL
Benoît CATHERINE
Deputy Managing Director
EXANE
Lucie MAUREL
Member of the Management Board of
BANQUE MARTIN MAUREL
Jean-Michel FOUCQUE
Chief Executive Officer 
PRADO ÉPARGNE
Delphine d'AMARZIT
Deputy Managing Director
ORANGE BANK
Laurent GOUTARD
Director of Retail Banking
 SOCIÉTÉ GÉNÉRALE FRANCE
Vice-Président
Jean-Jacques SANTINI
Director of institutional Affairs
GROUPE BNP - PARIBAS
Jérôme GRIVET
Deputy Chief Executive Officer in charge of Finance Groupe
CRÉDIT AGRICOLE S.A.
Jean-Marc VILON
Chief Executive Officer of
CRÉDIT LOGEMENT
Florence LUSTMAN
Chief Financial Officer
LA BANQUE POSTALE
 
NON-VOTING MEMBER
Antoine SAINTOYANT
Sub-director BANCFIN at the Treasury General Management
Composition of the Supervisory Board on 1 October 2017

 

The Fonds de Garantie des Dépôts et de Résolution (FGDR)

The Fonds de Garantie des Dépôts et de Résolution (FGDR) is a public interest organisation whose mission is to protect customers of a failed bank. By protecting customers' assets, the FGDR plays a key role in ensuring the stability of the French banking system. It covers 582 affiliated institutions and compensates customers on a preventative basis or on a bank crisis resolution basis.

PRESS CONTACT : 

 

Emilie Humann
Emilie.humann@clai2.com
T +33 (0) 1 44 69 54 05 / Mobile : + 33 (0) 7 77 26 24 60
FGDR Website : www.garantiedesdepots.fr

 

 

click here to download the contents of this press release