Deposit guarantee scheme is a financial stability mechanism
implemented in many countries to protect bank depositors against the loss of their deposits
in the case when a bank is unable to meet its obligations to depositors
by compensating certain deposits held by depositors of the bank.
This compensation is paid out from the contributions which banks have made
into a deposit guarantee fund.
Deposit Guarantee in CRELAN
All credit institutions operating in Belgium are obliged to participate
in Belgian deposit guarantee scheme.
CRELAN is a member of Guarantee Fund for Financial Services (GFFS) and makes its contributions into it. In the case of CRELAN failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
companies regardless of its status or size
financial institutions state and public authorities
current accounts sight accounts savings accounts time deposit accounts