The Deposit Guarantee Fund and Resolution and its mission
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 securing customers' assets, the Fonds de Garantie des Dépôts et de Résolution helps to ensure the stability of the French banking system.
The FGDR was created by Law 99-532 of 25th June 1999 and is responsible for protecting and compensating customers should their bank fail. The Deposit Guarantee covers deposit and savings accounts up to €100,000 (excluding savings accounts guaranteed by the State). The Shares Guarantee (Garantie des Titres) is charged with compensating investors for amounts of up to €70,000 on all financial instruments. The Cautions Guarantee (La Garantie des Cautions) covers regulatory cautions taken by professionals for their clients.
The FGDR can also intervene in crisis management before bankruptcy in order to avoid consequences for the customers.
The Deposit guarantee
Established by law, the Guarantee Fund of Deposits and Resolution (FGDR) is charged with protecting and compensating customers when a bank goes bankrupt. The FGDR compensation procedure covers up to 100,000 euros per customer per institution. The Deposit Guarantee covers minors and adult retail customers, companies or associations and other professional groups.
Covered and uncovered Products
Deposit accounts (current account, savings account, CEL PEL ...) are covered by the Deposit Guarantee FGDR (excludes Livret A, LDD and LEP guaranteed by the State). Check the list of products and their guarantees.
Download the brochure Presenting FGDR activities