International > Cross-border cooperation with other funds

Cross-border cooperation with other funds

The FGD fosters and maintains relationships with both EU and non-EU deposit guarantee schemes with the aim of sharing and implementing best practices in depositor protection.

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Cross-border cooperation with other EU schemes

One of the greatest challenges at EU level is ensuring efficient coordination in the event of a depositor payout affecting various Member States. European legislation requires the deposit guarantee scheme of the host jurisdiction in which the failed institution has branches to cooperate with the deposit guarantee scheme of the jurisdiction where that institution has its head offices. This collaboration is aimed at achieving the least possible disruption to affected host state depositors.

The FGD actively cooperates with EU schemes from Member States in which Spanish credit institutions have branches and also with EU deposit guarantee schemes whose national credit institutions have branches in Spain. The basis for this collaboration is set out in a Cooperation Agreement between EU deposit guarantee schemes drawn up in 2016 by the European Forum of Deposit Insurers (EFDI), with the approval of the European Banking Authority (EBA), aimed at ensuring a consistent and effective approach to cross-border payouts.

The FGD also promotes bilateral agreements with other EU DGSs in order to fine-tune technical or operational aspects of the cooperation agreement to reflect the particular needs and circumstances of each DGS.

This cooperation framework is further enhanced through bilateral crisis simulation exercises with other European DGSs.

Cross-border cooperation with non-EU schemes

Although outside the EU there is no formally regulated regime on cooperation between deposit guarantee schemes, the FGD looks to collaborate with other deposit insurers, especially those from Latin America, where various banks and credit institutions belong to Spanish banking groups. This cooperation takes the form of memoranda of understanding (MoU) and the FGD currently has agreements in effect with Argentina, Brazil, Colombia, Mexico, Peru and Uruguay. These MoU allow the parties to share knowledge and best practices and foster mutual understanding.


The FGD in the EU and other international organisations


The FGD in international guarantee fund associations


The Banking Union and the third pillar

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