Deposit Guarantee Scheme Luxembourg

 

Summary about the protection of deposit

Deposits in SEB in Luxembourg are protected by: Fonds de garantie des dépôts Luxembourg (1)  (FGDL)
Limit of protection: EUR 100,000 per depositor per credit institution (2)
If you have more deposits at the same credit institution: All your deposits at the same credit institution are ‘aggregated’ and the total is subject to the limit of EUR 100,000 (2)
If you have a joint account with other person(s): The limit of EUR 100,000 applies to each depositor separately (3)
Reimbursement period in case of credit institution’s failure: 7 working days (4)
Currency of reimbursement: Euro
Contact:

Fonds de garantie des dépôts Luxembourg (FGDL)
283, route d’Arlon
L-1150 Luxembourg
Adresse postale: L-2860 Luxembourg
Tel.: +352 26 25 1 1
Fax: +352 26 25 1 26 01
E-mail: info@fgdl.lu

More information: www.fgdl.lu

 

Additional information

 

(1)  Protection scheme for your deposit

Your deposit is covered by a contractual scheme officially recognised as a Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits will be repaid up to EUR 100,000.

(2)  Overall limit of protection

If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum EUR 100,000 per credit institution. This means that all deposits at the same credit institution are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with EUR 90,000 and a current account with EUR 20,000, he or she will only be repaid EUR 100,000.

In the cases provided in article 171, paragraph 2 of the Luxembourg Law of 18 December 2015 related to the recovery and resolution of credit institutions and investment firms, deposits may be protected up to a maximum of EUR 2,500,000. More information can be obtained under: www.fgdl.lu.

(3)  Limit of protection for joint accounts

In case of joint accounts, the limit of EUR 100,000 applies to each depositor.
However, deposits in an account to which two or more persons are entitled as partner of a company, member of an association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of EUR 100,000.

(4)  Reimbursement

The responsible Deposit Guarantee Scheme is the "Fonds de garantie des dépôts Luxembourg" (FGDL), 283 route d’Arlon, L-1150 Luxembourg, (+352) 26 25 1-1, info@fgdl.lu, www.fgdl.lu. It will repay your deposits (up to EUR 100,000) within 7 working days.

If you have not been repaid within this deadline, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under www.fgdl.lu.

Other important information

In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your credit institution will also inform you on request whether certain products are covered or not. If deposits are covered, the credit institution shall also confirm this on the statement of account.

 Investor Compensation Scheme Luxembourg

Investors in Skandinaviska Enskilda Banken S.A., are protected by: Système d’indemnisation des investisseurs Luxembourg  (SIIL)
Scope: System covers claims arising out of a banks’ inability to:
  • repay money owed to or belonging to investors and held on their behalf in connection with investment activity or
  • return to investors any instruments belonging to them and held, administered or managed on their behalf in connection with investment activity in accordance with the legal and contractual conditions applicable.
Limit of protection: Up to EUR 20,000 per investor per credit institution
If you have more accounts at the same credit institution: All your accounts at the same credit institution are ‘aggregated’ and the total is subject to the limit of EUR 20,000
If you have a joint account with other person(s): The claims are distributed evenly among the investors, if no special provisions have been provided.
Reimbursement period in case of credit institution’s failure: As soon as possible and no later than three months after the eligibility and the amount of the claim have been established.
Currency of reimbursement: Euro
Contact: Commission de Surveillance du Secteur financier (CSSF)
Council for the Protection of the Depositors and Investors (CPDI)
283, route d’Arlon
L-1150 Luxembourg
Postal address: L-2860 Luxembourg
Phone +352 26 25 1- 1
More information:

www.fgdl.lu

www.cssf.lu