Stress tests

The Fonds de garantie de dépôts Luxembourg (FGDL, Luxembourg deposit guarantee fund) is required to have adequate mechanisms in place to determine its potential commitments. To this end, the Conseil de protection des déposants et des investisseurs (CPDI, Council for the Protection of Depositors and Investors) carries out stress tests on the FGDL system from 2017. The CSSF’s Protection of Depositors and Investors department conducts these tests in accordance with the Guidelines of the European Banking Authority (EBA/GL/2016/04) to assess the degree of preparedness and resilience on an individual and system-wide basis. The first test on the financing capacity of the FGDL was carried out in May 2017. As from the third quarter of 2017, the CPDI checks the quality and availability of the Single Customer View files, whose format is defined by Circular CSSF 13/555. Any reference to the AGDL in the latter is considered to be replaced by the FGDL.