Subsection 5: Common provisions

Orders issued by the Minister for the Economy specify:

1° The conditions, deadlines and procedures for implementing the guarantee provided for in article L. 312-4-1 and I of article L. 312-5 ;

2° The compensation ceiling per member and per depositor or other beneficiary, as well as the conditions for exceeding this ceiling, on the one hand, at the request of the depositor in the case of temporary exceptional deposits resulting from special circumstances and, on the other hand, in application of 6° below;

3° The legal characteristics of members' certificates and association certificates as well as any ceilings within which the deposit guarantee and resolution fund may have recourse to these certificates;

4° The criteria taken into account by the Autorité de contrôle prudentiel et de résolution when issuing the opinion provided for in the third paragraph of I of Article L. 312-10. These criteria relate in particular to the minimum amount of financial resources that the deposit guarantee and resolution fund must have in order to carry out the tasks mentioned in Article L. 312-5, the rules of all kinds applicable to contributions paid into the fund, as well as taking into account the phase of the economic cycle and the impact of the contributions called in on the situation of members;

5° The conditions and limits under which part of the contributions may not be paid to the deposit guarantee and resolution fund, subject to the signing of a payment undertaking and the provision of appropriate guarantees, in particular in the form of cash deposits made in the fund's books;

6° The conditions for the intervention of the fonds de garantie des dépôts et de résolution and the calculation of the basis of members' contributions in the event of application of the guarantee scheme provided for inarticle 120 of the amended financelaw no. 2008-1443 of 30 December 2008;

7° The procedures for calculating members' votes in the election of Supervisory Board members, the minimum number of votes allocated to a member, the procedures for appointing Supervisory Board members and the duration of their term of office;

8° The conditions under which, under the authority of the resolution college of the Autorité de contrôle prudentiel et de résolution, the Fonds de garantie des dépôts et de résolution collects and transfers the portion of the contributions referred to in II of Article L. 312-8-1 intended for the Single Resolution Fund established by Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 ;

9° The conditions under which branches of credit institutions referred to in I of Article L. 511-10 that do not have protection equivalent to that provided for in this section may join the deposit guarantee and resolution fund ;

10° The terms and conditions for applying Article L. 312-4-1, in particular :

a) The conditions under which the beneficiary of all or part of the sums held on an account, who is not the nominal account holder, may benefit from the deposit guarantee ;

b) The procedures for closing depositors' accounts and charging transactions and payments outstanding on the unavailability date to their accounts;

c) The conditions for exercising the rights of a creditor holding a writ of execution notified to the member subject to the intervention of the guarantee fund, over sums owed by a person benefiting from the guarantee;

11° The conditions under which the Deposit Guarantee and Resolution Fund regularly carries out tests to ensure that it is able to satisfy the provisions of I of article L. 312-5 ;

12° The conditions under which the fonds de garantie des dépôts et de résolution intervenes in application of III of article L. 312-4 and concludes the agreements provided for in article L. 312-8-2 ;

13° Provisions relating to the information that the fonds de garantie des dépôts et de résolution discloses to the public, on the one hand, and that member institutions disclose, on the other:

a) Potential customers of these institutions; this information relates in particular to the fonds de garantie des dépôts et de résolution and the conditions of its intervention as well as the methods by which customers acknowledge receipt of this information by means of a standard information form included, where applicable, in the applicable general or special terms and conditions;

b) Holders of deposits eligible for the guarantee, by means of the statement of account issued to them and the standard information form referred to in a) which is sent to them at least once a year;

14° The conditions under which the Fonds de Garantie des Dépôts et de Résolution may borrow from deposit guarantee schemes or resolution financing schemes in other States party to the Agreement on the European Economic Area, grant them loans or guarantee their borrowings;

15° The terms and conditions for determining the form, conditions and level of intervention by the Fonds de Garantie des Dépôts et de Résolution (Deposit Guarantee and Resolution Fund) under the resolution financing scheme for the application of III of article L. 312-5 ;

16° The conditions and limits under which the fonds de garantie des dépôts et de résolution may contract with a credit institution or finance company a loan with a term of more than twelve months or issue a debt security with a term of more than twelve months.

These decrees are issued or amended after obtaining the opinion of the Chairman of the Management Board of the Deposit Guarantee and Resolution Fund.