Circular CSSF-CPDI 18/15 is a CSSF circular, published 18 December 2018 and updated 10 July 2020. Subject: Survey on the amount of covered deposits as of 31 December 2018. The CSSF marks it as outdated.
\nLegal basis: Law of 18 December 2015 on the resolution and liquidation of banks and investment firms.
\nRelevant for: Credit institutions, Investment firms.
\nKeywords: Deposit Guarantee Schemes, Depositor and Investor Protection Board (CPDI), Luxembourg Deposit Guarantee Fund (FGDL).
\nIn case of discrepancies between the French and the English text, the French text shall prevail.
\nLuxembourg, 18 December 2018 To the members of the Fonds de garantie des dépôts Luxembourg
\nRe: Survey on the amount of covered deposits as of 31 December 2018 Ladies and Gentlemen, 1. The aim of this circular is to carry out a survey on deposits, and more particularly on covered deposits, as held by credit institutions incorporated under Luxembourg law, the POST Luxembourg for its provision of postal financial services, and Luxembourg branches of credit institutions having their head office in a third country (hereinafter, referred to as “institutions”) as at 31 December 2018. The collected data shall enable the Conseil de protection des déposants et des investisseurs (“CPDI”) to establish the 2019 target level of the Fonds de garantie des dépôts Luxembourg (“FGDL”) and to determine the contributions to the buffer of additional financial means referred to in Article 180 of the law of 18 December 2015 on the failure of credit institutions and certain investment firms, as amended (hereinafter, the “2015 Law”). 2. Pursuant to Article 16, paragraph 1, of the Commission delegated regulation (EU) 2015/63 of 21 October 2014 supplementing Directive 2014/59/EU, the average amount of covered deposits calculated quarterly will be transmitted to the Single Resolution Board by 31 January 2019 and will be used to determine the Single Resolution Fund’s annual target level. 3. In order to enable the FGDL to fulfil its cooperation duties within the European Union as set out under Article 183, paragraph 2, of the 2015 Law and in line with the European Banking Authority (“EBA”) Guidelines on cooperation between deposit guarantee schemes under Directive 2014/49/EU, FGDL members are requested to provide the data i. at the level of their legal entity, including amounts from branches located within other Member States of the European Union, as well as ii. for each and any branch located within other Member States of the European Union separately,
\nby 18 January 2019 at the very latest. The data to be established under (i) and (ii) shall be reported with utmost care. 4. In order to transmit the data, institutions are kindly requested to complete the table attached to this circular, which is also available on the CSSF’s website at: http://www.cssf.lu/fileadmin/files/ESPREP-Bxxxx-yyyy-mm-DCO.xls. Detailed instructions for filling in the table are given in Appendix 2. The filename of the completed document shall comply with the file naming convention for special enquiries, as defined by Circular CSSF 08/344. The string “xxxx” shall be replaced by the 4 digits identification number of the institution and the string “yyyy” and “mm” shall be replaced by “2018” and “12”, respectively. The completed document shall be transmitted via one of the secured channels (E-File or SOFiE). The relevant document must be in “.xls” or “.xlsx” format. Any other format will not be accepted. The document shall be completed in any cases. If you consider that there is no amount to be reported, the transmission to the CSSF remains nevertheless mandatory and value “0” (= zero) must be indicated in the corresponding table. Detailed instructions are provided for each table field in Annex 2. Documents which include error messages will be considered as void. It is absolutely necessary to respect the integrity of the file, i.e. not to modify the structure of the table and to input information and data in yellow fields exclusively. 5. Given the importance of this survey, a member of the authorised management, in this case the member in charge of the membership of the FGDL in accordance with section C of Circular CSSF 13/555, must review and approve the document prior to its transmission to the CSSF.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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