Spanish Banks deposit guarantee

The Spanish system for guaranteeing deposits for credit institutions

Spanish Banks deposit guarantee

The deposit guarantee system is intended to guarantee depositors the recovery of their money deposits and securities held in credit institutions up to the established limit. It also has the purpose of carrying out actions to strengthen the solvency and operation of an institution in difficulty, to defend the interests of depositors and Deposit Guarantee Funds.

MONEY DEPOSITS NOT GUARANTEED IN SPANISH BANKS

The following deposits are not guaranteed:

1. Deposits by other credit institutions in their own name and on their own behalf, and those made by the following entities and financial institutions:
   1. Broker-dealer firms.
   2. Insurance companies.
   3. Security investment companies.
   4. Management companies responsible for collective investments, pension fund companies, mortgage securization funds, venture capital and the deposits of the institutions that they manage.
   5. Portfolio management companies.
   6. Venture capital companies and their management committee.
   7. Entities whose main business is the holding of shares or part ownership of companies.
   8. Institutions, of whatever name or type, that in accordance with the regulations applicable to them, carry out business typical of those listed above.
   9. Any financial institution subjected to supervision.
2. Securities representing debt issued by the credit institution, including promissory notes and negotiable instruments.
3. Bearer certificates of deposit, temporary transfers of assets and finance with a subordination clause.
4. Deposits constituted by companies belonging to the same economic group as the credit institution.
5. Deposits constituted by Public Administrations.
6. Deposits constituted by persons holding management or administration posts in the institution giving rise to the fund’s action, pursuant to Article 1.4 of Law 26/1988, 29 July, on discipline and intervention in credit institutions, by persons with a significant share of the capital of the institution, pursuant to Article 56 of Law 26/1988, or a stake in companies in their economic group, in accordance with the criteria in Article 4 of Law 24/1988, 28 July, on the Securities Market, or their spouses or immediate family member

Rest of Money deposit in Spanish Banks are guarenteed.

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