Circular CSSF-CPDI 25/45 is a CSSF circular, published 2 April 2025. Subject: Survey on the amount of covered deposits held on 31 March 2025.
\nLegal basis: Law of 18 December 2015 on the resolution and liquidation of banks and investment firms.
\nRelevant for: Credit institutions.
\nKeywords: Deposit Guarantee Schemes, Depositor and Investor Protection Board (CPDI), Luxembourg Deposit Guarantee Fund (FGDL).
\nTo the members of the Fonds de garantie des dépôts Luxembourg
\nLuxembourg, 2 April 2025 Ladies and Gentlemen, 1. The aim of this circular is to carry out the regular 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 March 2025. 2. We would like to draw your attention to the fact that the present circular has not undergone any change regarding the content and terms and conditions of the survey process on the amount of covered deposits. In comparison with the previous circular regarding the quarterly survey on the amount of covered deposits, changes are limited to the date of reference and deadline. Likewise, attached specifications remain unchanged. 3. A definition of “covered deposits” and “eligible deposits” can be found in Article 163 of the amended law of 18 December 2015 on the failure of credit institutions and certain investment firms. 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, third-party 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 Conseil de protection des déposants et des investisseurs, hereinafter “CPDI”. In the absence of a reliable and up to-date estimate of the above-mentioned 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.
\nVia CSSF eDesk platform which is also accessible through the CSSF website; or
\nVia the submission of a structured file through S3 (“simple storage service”) protocol.
\nA user guide is available on eDesk, explaining the technical procedures for completing, validating and submitting the DCOR Quarterly Reporting.
\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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