Bank Deposit Guarantee Fund

General information on deposit guarantee

Information form provided to depositors	download
List of deposits exempted from compensation	download

I. Bank Deposit Guarantee Fund (FGDB)

In Romania, the deposits opened at Romanian banks are guaranteed by the deposits guarantee schemes approved by the National Bank of Romania (NBR). At the moment, the only guarantee scheme officially recognized in Romania is the Bank Deposit Guarantee Fund (FGDB). The deposits guarantee respects the 311/2015 Law on deposits guarantee schemes and Bank Deposit Guarantee Fund, as subsequently amended and extended (311/2015 Law).
BRD - Groupe Société Générale SA is a participant at the Bank Deposit Guarantee Fund in Romania as governed by Title II of the 311/2015 Law.

II. General coverage plan
The coverage represents the maximum guaranteed amount if the bank where the deposit is opened is unable to meet its payment obligations according to the contractual conditions and applicable laws. The guarantee ceiling is of EUR 100.000, equivalent in lei, per depositor, per bank. The guarantee ceiling has the same value in all E.U countries. This means that all the deposits at the same credit institution are aggregated to determine the classification in the coverage plan. For example, if a depositor holds a savings account worth EUR 90.000 and a current account with EUR 20.000, he will receive only the equivalent in lei of EUR 100.000.

Certain types of deposits, as expressly provided for in Article 62 (1) from the 311/2015 Law, benefit from a guarantee level higher than EUR 100,000 for a period of 12 months from the date on which the amount was credited to the account of the concerned credit institution of from the date at which the deposits can be legally transferred to another credit institution.

The deposit categories as enclosed in the art. 62, alin. (1) from the Law 311/2015 are:
a) deposits resulting from real estate transactions relating to immovable assets with housing destination;
b) deposits resulting in the event of retirement, dismissal, marriage, divorce, invalidity or death situation of the depositor;
c) deposits resulting from the collection of insurance claims or compensation for damages resulting from infractions or unfairly convictions.
The amounts assignment in one of the three above mentioned categories is based on the documents submitted by the client to the bank.

III. Compensations payments
The responsible for the deposits guarantee scheme is the Bank Deposit Guarantee Fund, located in Negru Vodă Street, no. 3, corp A3, et. 2, Sector 3, Municipiul București, cod: 030774, having the following phone numbers: 031.423.28.82/ 021.326.60.20./ 031.423.28.05, e-mail address: comunicare@fgdb.ro/office@fgdb.ro and the web address: www.fgdb.ro.

If the deposits of a credit institution participating in the Fund become unavailable, the FGDB will ensure the compensations payment, within the guarantee ceiling. The compensation payment shall be made only in RON.

According to the 311/2015 Law, by compensation is understood the amount that the FGDB pays to each guaranteed depositor for the unavailable deposits, regardless of their number, within the coverage limit and taking into account the conditions provided by the 311/2015 Law.

The depositor’s debt at the credit institution is taken into account when calculating the due compensation at the date when the deposits have become unavailable.

FGDB will provide the due compensations no later than 7 working days from the date on which the deposits have become unavailable, without a request. By exception, for the categories of deposits benefiting from a guarantee level above the EUR 100,000 ceiling, the additional compensation for this ceiling will be made available within 7 working days from the date on which BGDF has all the necessary information to verify that the conditions for the additional compensation payment are met.

If the compensation was not provided within this period, we recommend you to contact the deposit guarantee scheme as the term within which you can claim the compensation payment may be limited.

The depositors right of receiving due compensations is prescribed within 5 years from the date on which the FGDB has put the compensations at the depositors disposal.

An exception from the compensation payments is represented by the deposits that are classified as unguaranteed, as presented in the list of deposits exempted from guarantee according to the 311/2015 Law on deposits guarantee schemes and Bank Deposit Guarantee Fund.

Additional information is available at www.fgdb.ro

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