Circular CSSF-CPDI 23/37 is a CSSF circular, published 18 July 2023 and updated 12 May 2026. Subject: Survey on the amount of covered deposits held on 30 June 2023. The CSSF marks it as outdated.
\nRelevant for: Credit institutions, Investment firms.
\nKeywords: Deposit Guarantee Schemes, Luxembourg Deposit Guarantee Fund (FGDL).
\nIn case of discrepancies between the French and the English text, the French text shall prevail.
\nCircular CSSF-CPDI 23/37 Re : Survey on the amount of covered deposits held on 30 June 2023
\nLuxembourg, 18 July 2023
\nLadies and Gentlemen, 1. The aim of this circular is to carry out the regular survey on deposits,
\nTo the members of the Fonds de garantie des dépôts Luxembourg
\nand 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 30 June 2023. 2. A definition of “covered deposits” and “eligible deposits” can be found in Article 163 of the 2015 Law. The provisions of Circular CSSF-CPDI 16/02 as amended by Circular CSSF-CPDI 23/35 shall be taken into account, in particular with regard to the exclusions of structures assimilated to financial institutions, as well as the treatment of accounts whose holder is not absolutely entitled to the sums in the account (omnibus accounts, accounts of fiduciaries, accounts held by trusts, thirdparty accounts, sub-accounts, segregated accounts, etc.). In case the account holder differs from the persons that are absolutely entitled to the sums in the account, the FGDL members shall take reasonable measures to regularly obtain information on the number of identifiable and eligible persons entitled to the sums in the account as well as on the amounts to which each of them is entitled, so as to accurately report the amount of covered deposits and covered claims to the CPDI. In the absence of a reliable and up to-date estimate of the abovementioned information, the FGDL members report the total amount of omnibus accounts opened in their books. We also remind you that the breakdown into natural and legal persons of omnibus accounts or other types of accounts whose holder is not absolutely entitled to the sums in the account, shall be made according to the legal status of the holder of such accounts. We remind the FGDL members that neither accounts denominated in units of precious metals, such as gold (XAU) or silver (XAG), nor accounts denominated in virtual currencies, such as Bitcoin or Ether, constitute eligible deposits for the purpose of the FGDL guarantee. Hence such accounts shall not be reported under this data collection. 3. FGDL members are requested to provide the data at the level of their legal entity, comprising data from branches located within other Member
\nStates1, by 25 August 2023. The requested data shall be reported with utmost care, as it also constitutes the basis to determine the contribution to the Resolution Fund. 4. In order to transmit the data, institutions are kindly requested to complete the table attached to this circular, which is available on the CSSF’s website. 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 white fields exclusively. The filename of the completed document shall comply with the file naming convention for special enquiries. For this purpose, 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 “2023” and “06”, respectively. The completed document shall be transmitted via one of the secured channels (E-File or SOFiE) in accordance with Circular CSSF 23/833. The relevant document must be in “.xlsx” format. Any other format will not be accepted. Please take note, that the document shall be completed in any cases.
\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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