Fondo de Garantía de Depósitos de Entidades de Crédito

News room

Official statement

Royal Decree-Law 16/2011 of 14 October establishing the Deposit Guarantee Fund for Credit Institutions came into force on 15 October 2011. As it has been until now, the objective of the new Deposit Guarantee Fund for Credit Institutions is to secure deposits held by credit institutions, up to a limit of EUR 100,000, and take steps to bolster the solvency and performance of credit institutions. The aforesaid Royal Decree-Law also stipulates the winding up of the three deposit guarantee funds for credit institutions existing until said date (the Guarantee Fund for Deposits in Savings Banks, the Guarantee Fund for Deposits in Banks and the Guarantee Fund for Deposits in Credit Cooperatives), whose equity has been integrated into the new Deposit Guarantee Fund for Credit Institutions, which will assume all their rights and obligations. To conclude, there have been no changes to the guarantee offered by the new Fund to depositors.