Subsection 2: Deposit guarantee mechanism and resolution funding mechanism

I. – Credit institutions authorised in France adhere to the deposit guarantee and resolution fund under the deposit guarantee mechanism. The deposit guarantee covers, up to a maximum limit, funds held in an account with a credit institution and denominated in euros or in the currency of another State, under the following conditions : 1° These funds must be returned by the credit institution to the holder in accordance with…

I. – The deposit guarantee scheme shall be implemented at the request of the Autorité de contrôle prudentiel et de résolution as soon as the latter ascertains that a credit institution is no longer in a position to return, immediately or in the near future, the funds referred to in I of Article L. 312-4-1. The intervention of the Fonds de Garantie des Dépôts et de Résolution (Deposit Guarantee Fund)…

The fonds de garantie des dépôts et de résolution is subrogated to the rights of the beneficiaries of its intervention to the extent of the sums it has paid. The fonds de garantie des dépôts et de résolution may bring any liability action against the de jure or de facto managers of the institutions for which it intervenes in order to obtain reimbursement of all or part of the sums…

Where the European Commission takes a decision pursuant to Article 19(3) of Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 on the compatibility of recourse to the Single Resolution Fund with the rules of the internal market, the College of Resolution shall ensure compliance with that decision by the persons under its jurisdiction. Where, pursuant to Article 19(5) of this Regulation, the…