Members and Management Committee
The Fonds de garantie des dépôts Luxembourg (FGDL, Luxembourg Deposit Guarantee Fund), is established by Article 154 of the Law of 18 December 2015 on the failure of credit institutions and certain investment firms, as amended. In accordance with paragraph 7 of the aforementioned article, the FGDL has adopted internal rules guaranteeing sound and transparent governance practices (only in French).
The Fonds de garantie des dépôts Luxembourg, is operated by a Management Committee composed as at 20 May 2021 of the following members:
|Claude WAMPACH||Commission de Surveillance du Secteur Financier (CSSF), Director in charge of the department referred to in Article 12-15 of the amended law of 23 December 1998 creating the CSSF||Claude MARX|
|Bob KIEFFER||Ministry of Finance, Director of the Treasury||Michel HAAS|
|Gaston REINESCH||Banque centrale du Luxembourg, Governor||Jean-Claude FRANTZ|
|Karin GUILLAUME||First Councilor at the Court of Appeal||Marc WAGNER|
The Management Committee is assisted by a CSSF department which performs the operational tasks of the FGDL.
The missions which, pursuant to Directive 2014/49/EU, must be assigned to the designated authority, i.e. the body in charge of administering the deposit guarantee scheme, are carried out by the CPDI. The CPDI is a new internal body of the CSSF. As regards these missions as well as the judicial and extra-judicial representation relating to these missions, the CPDI will be the higher executive authority of the CSSF.
In order to facilitate decision-making, to ensure efficient exchange of information and cooperation between the FGDL and the CPDI and to ensure swift repayment of depositors, the members of the CPDI are also the members of the FGDL’s Management Committee.
All credit institutions governed by Luxembourg law, as well as Post Luxembourg (for the provision of postal financial services) are required to become member of the FGDL. Luxembourg branches of credit institutions having their registered office in a third country, subject to the second sentence of Article 43(2) of the Law of 5 April 1993 on the financial sector, as amended, are required to join the FGDL, if the CSSF considers that the protection is not equivalent. However, branches of banks with their headquarters in another EU country are not members of the FGDL. They are affiliated to a guarantee scheme in that country.