The Spanish system of Deposits Guarantee Funds

The Spanish system for guaranteeing deposits held by credit institutions comprises three Deposit Guarantee Funds (FGDs):

• Deposit Guarantee Fund for Banking Establishments (FGDEB).
• Deposit Guarantee Fund for Savings Banks (FGDCA).
• Deposit Guarentee Fund for Credit Cooperative Banks (FGDCC).

These three institutions were created by Decree and operate under private Law. Their purpose is to guarantee money deposits and securities held by credit institutions. Besides offering these two different, but compatible guarantees, they can also, under certain circumstances, act so as to reinforce the solvency and operation of credit institutions.