What’s the Deposit Guarantee Fund (Fondo de Garantía de Depósitos)? > Cash deposits > Grounds for enforcement of the guarantee and beneficiaries

Grounds for enforcement of the guarantee and beneficiaries

Here you will find information on when the FGD will step in if a member institution runs into difficulties.

Illustration with features

Did you know…When will the FGD guarantee become effective?

We answer the most frequently asked questions from our users:

Frequently asked questions (FAQs)

We answer the most frequently asked questions from our users:

Frequently asked questions (FAQs)

Find out more…

The FGD will pay out, from the deposit guarantee compartment, the covered amount of the deposits to depositors upon any of the following events:

  1. When an institution has been declared insolvent or a request has been filed through the courts for insolvency.
  2. If the institution has not been declared insolvent as indicated in the previous paragraph and, following non-payment of due and payable deposits, Banco de España determines that, in its view, the institution is unable, for reasons directly related to its financial circumstances, to repay the deposits and has no current prospect of being able to do so. After hearing the views of the FGD's Management Committee, Banco de España will make a determination as soon as possible and, in any case, within five working days after having verified that the institution has failed to repay the due and payable deposits. Banco de España shall do so after hearing the views of the institution concerned, without this interrupting that five-day period.
hucha-cerdo

Covered cash deposits

winged-ticket

Non-covered cash deposits

ticket-pay

Payment of covered amounts

ticket-arrow

Deposits that exceed the upper limit of the guarantee

We use cookies on this website to improve the browsing experience for all of our users.

By clicking on any link on this page, you are consenting to the use of cookies.

NO, give me more information