The Deposit Guarantee Fund of Credit Institutions was set up by virtue of Royal Decree Law 16/2011, of 14 October. It has own legal personality and full capacity to fulfill its functions. It operates under private law. Its headquarters are in Madrid.
The objective of the new Fund is, as before, to guarantee deposits and securities held by credit institutions, up to the limit of 100,000 Euros. Besides offering these two different, but compatible guarantees, it can also carry out any such actions as it considers necessary to reinforce the solvency and functioning of credit institutions.