IDEAS home Printed from https://ideas.repec.org/a/ysm/ypfsfc/v4y2022i2p302-316.html
   My bibliography  Save this article

France: Deposit Guarantee Fund

Author

Listed:

Abstract

In October 2008, during the Global Financial Crisis (GFC), European Union (EU) officials urged member states to raise their minimum deposit-insurance coverage to at least EUR 50,000 (USD 68,000) to promote confidence in banks. France did not need to increase its deposit-insurance cap to meet this target, as it already guaranteed EUR 70,000. The following year, EU officials passed a directive that required all member states to permanently increase their minimum deposit-insurance coverage to EUR 100,000 by December 31, 2010. French authorities complied with the EU's directive on September 29, 2010. The Fonds de Garantie des Depots (FGD), a private administrator, oversaw France's deposit guarantee. Membership was mandatory for all deposit-taking institutions, and they paid risk-based fees to the FGD. The FGD covered most deposit types. As of February 2012, the FGD had not been activated in response to any bank failures.

Suggested Citation

  • Vergara, Ezekiel, 2022. "France: Deposit Guarantee Fund," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(2), pages 302-316, April.
    • Handle: RePEc:ysm:ypfsfc:v:4:y:2022:i:2:p:302-316
    as

    Download full text from publisher

    File URL: https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1298&context=journal-of-financial-crises
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    account guarantees; European Union; France; Fonds de Garantie des Depots; Global Financial Crisis;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ysm:ypfsfc:v:4:y:2022:i:2:p:302-316. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/smyalus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.