FCMC joins the Charter for Sustainable Deposit Guarantee and Investor Compensation Schemes

29.10.2020
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On October 27, the Financial and Capital Market Commission (FCMC) joined the EFDI Sustainability Charter on Sustainable Deposit Guarantee and Investor Compensation Schemes. Thus the FCMC has undertaken to strengthen best corporate governance practices in the operation of the Deposit Guarantee Fund (DGF).

On 24 September this year, the European Forum of Deposit Insurers (EFDI) Charter for Sustainable Deposit Guarantee and Investor Compensation Schemes was adopted by the Annual General Assembly. The purpose of the Charter is to set out a common understanding of the principles of ethics, corporate governance, saving of natural resources and the correct use of personal data in the management of deposit guarantee and investor compensation schemes.

The accession to the Charter is a sign of the FCMC’s good will providing that the DGF manager undertakes to respect best ethical and corporate governance practices to ensure the functioning of the Fund and understands its importance.

The Charter and the list of signatories to the EFDI Sustainability Charter is available here.

The DGF is established and operates on the basis of the Deposit Guarantee Law (Law) for the purposes to ensure the payment of compensation for the deposits that are made at the member of deposit guarantee scheme but have become unavailable. Under the Law the depositor is eligible for compensation for all types of deposits in all currencies of up to EUR 100 000 per bank or credit union. More information about the DGF is available here.

For further information:
Communications and Financial Literacy Division
Financial and Capital Market Commission
Phone: +371 67774807
aija.brikse@fktk.lv

Contacts


Address:
Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
Previous sign-in to the secretary:
67 774 801
Data protection:

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