FGD Annual Report for 2023
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Available financial resources / Coverage level
The volume of financial resources available in the deposit compartment as of the 31st of December, 2023 is 8,134 million euros (0.92% of guaranteed deposits on that date).
In this way, the FGD has comfortably reached the minimum coverage level of 0.8% (Target Level) before July 3, 2024, the latest deadline established by European regulations.
Covered cash deposits
The admissible and guaranteed cash deposits from the deposit guarantee compartment amounted, as of the 31st of December 2023, to €1.328 billion and €889 billion, respectively. Furthermore, the percentage of depositors with fully guaranteed amounts, as of this date, amounted to 96.6%.
Guaranteed deposits of securities
As of the 31st of December 2023, the guaranteed and covered values amounted, respectively, to €476.9 thousand and €100.4 thousand. Furthermore, the percentage of depositors with fully guaranteed amounts as of this date amounted to 92.2%.
Annual contributions by institutions
To reach the Target Level, credit institutions have been contributing a percentage of their guaranteed deposits to the FGD, of which has varied over time. The last contribution, corresponding to 2023, was collected in February 2024.
