the Declared bankruptcy for him Silicon Valley Bank And condition Collapses He suffered from it Credit Suisse In recent months it has raised doubts among bank customers increased. In reality, Many savers wonder what would happen if their banks failed..
this a question The Bank of Spain wanted to respond With a post on your blogwhere he stated that the key is to know whether the banking entity is actually protected by a deposit guarantee fund (Focus group), which is a lot They do not know.
Peculiarities
This box is in SpainIt has a purpose Guaranteed the Deposits In money, securities, or other things Financial instruments Formed in credit institutions. In doing so, they provide greater security, protection and peace of mind, and contribute to peace Stability of the financial system as a whole.
Created, collected in Royal Decree Law No. 16/2011 dated October 14determines its own legal personality and is required All credit institutions to be part of itexcept Credit financial institutions And the Official Credit Institute.
Aspects to consider
“a Important element When you decide what Deposits save our savings “It is to know which of them are protected by the focus group, since some types of deposits do not have this guarantee,” said this public legal entity.
In the legal textIn addition, it is detailed what the entities associated with the focus session must implement Contributions Mandatory annual” the amount of which reaches a maximum 2 per thousand deposits To which its guarantee extends, depending on the type of credit institutions.”
As if that wasn't enough, just in case The focus group's unencumbered assets had negative numbersA decision to pay spills may be issued before Members When the Fund Management Committee deems it appropriate.
100,000 euros, max
Taking all this into consideration, the guaranteed amount of deposits will be limited to an amount 100,000 euros Or, in the case of deposits denominated in another currency, their equivalent applying the corresponding exchange rates According to the conditions specified by the regulations.
That's by saying, Guaranteed funds for investors “Those who have entrusted the credit institution with securities or Tools Finance will be independent“of existing funds In bank accounts, Although, in any case,It will reach a maximum of 100,000 euros“.
but, Not covered by focus groupamong other things:
- Compound deposits, in which the full amount deposited may not be received because it is subject to the change of any type of financial variables, such as stock market indicators for example.
- Retirement plans (which have their own regulations).
- Investment funds (which also have their own regulations).
- Crypto assets.
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