What is the FGDR?
Dépôts et de
Fund: Created by law, the FGDR's mission is to protect customers of all banking and financial institutions operating in France.
Guarantee: The FGDR manages three mechanisms:
Deposit guarantee scheme
Performance bond guarantee
It intervenes in the event of a default of a financial institution, in a preventative or client compensation role.
Deposits: The FGDR compensates you for your deposits within 7 working days.
Current accounts and savings books up to a maximum of €100,000 per customer.
And centralised savings books and plans (Livret A, LDDS, LEP) guaranteed by the French government up to €100,000 per customer.
Resolution: The FGDR may intervene with an institution in crisis through resolution and on a preventative basis.
In this way, the service activity and customers' assets are protected and the bankruptcy avoided.
Fonds de Garantie des Dépôts et de Résolution (French Deposit Insurance and Resolution Fund): Banking crisis operator in support of responsible finance.
FGDR: your money is protected.