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Applicable legislation

Applicable legislation

The Fundo de Garantia de Depósitos’ legal framework is established in Title IX of the Legal Framework of Credit Institutions and Financial Companies (Regime Geral das Instituições de Crédito e Sociedades Financeiras – RGICSF). Approved by Decree-Law No 298/92 of 31 December 1992.

Executive Order No 285-B/95 (Series II) of 15 September 1995. Approves the Fundo de Garantia de Depósitos Regulation.

Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes.

Transposes into Portuguese law Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes.

Transfers the deposit guarantee function from the Mutual Agricultural Credit Guarantee Fund to the Fundo de Garantia de Depósitos.

 

Notices of the Banco de Portugal in effect (in Portuguese only):

  • Notice of the Banco de Portugal No 11/94: Sets the annual contribution payable by member credit institutions to the Fundo de Garantia de Depósitos.
  • Notice of the Banco de Portugal No 7 /2001: Sets at 50 000 EUR the amount of the initial contribution to the Fundo de Garantia de Depósitos, under the terms of Article 160(1) of Legal Framework of Credit Institutions and Financial Companies (Regime Geral das Instituições de Crédito e Sociedades Financeiras – RGICSF). Repeals the Notice of the Banco de Portugal No 8/95 of 15 of September. 
  • Notice of the Banco de Portugal No 9/2009: It requires member credit institutions of the Fundo de Garantia de Depósitos to have an information system in place to identify deposits covered by and excluded from the guarantee, as well as their depositors, and to provide the Fund within two working days with a complete list of their claims on a given date.
  • All Notices of the Banco de Portugal regarding the Fund

Instructions of the Banco de Portugal in effect (in Portuguese only):

  • Instruction of the Banco de Portugal No 31/2020: Sets at 0.0003% the base rate applicable to the calculation of the contribution rate of each member credit institution, as well as the amount of the minimum contribution to the Fundo de Garantia de Depósitos paid by member credit institutions (235 EUR) in 2021. Sets forth that member credit institutions are not allowed to make use of irrevocable payment commitments.
  • Instruction of the Banco de Portugal No 25/2009: Sets, in accordance with paragraph 2 of Notice of the Banco de Portugal No 9/2009 of 17 November 2009, the format of the full list of each depositor’s claims covered by the guarantee on a given date, to be sent to the Fundo de Garantia de Depósitos.
  • All Instructions of the Banco de Portugal regarding the Fund