Deposit Protection Fund definition

Deposit Protection Fund means a deposit protection fund set up to provide for the accumulation of financial contributions from banks and branch offices of foreign banks for eventual compensation of deposits held in banks and branch offices of foreign banks and for their management;
View Source
Deposit Protection Fund means the fund established pursuant to the Popular Savings and Credit Law;
View Source
Deposit Protection Fund means Fondos de Protección, any of the trusts established on December 11, 2009 pursuant to Chapter VI of the LACP and Title IV of the LRASCAP.
View Source

Examples of Deposit Protection Fund in a sentence

  • In the unlikely event of a default by us, a claim for compensation may be made on the Deposit Protection Fund of the Federation of German Banks, which covers deposits and customer property.

  • To the extent that the Deposit Protection Fund or its authorized representative makes payments to the Customer, the respective amount of the Customer’s claim against the Bank together with all subsidiary rights shall be transferred simultaneously to the Deposit Protection Fund.

  • The Deposit Protection Fund shall only make compensation payments if and insofar as deposits exceed the protection ceiling of the home country deposit protection scheme.

  • The Bank shall be entitled to disclose to the Deposit Protection Fund or to its mandatory all the necessary information in this respect and to place documents at their disposal.

  • In accordance with its By-laws – subject to the exceptions provided for therein – the Deposit Protection Fund protects deposits, i.e. credit balances which result from funds left in an account or from temporary situations deriving from banking transactions and which the Bank is required to repay under the conditions applicable.

  • The Deposit Protection Fund protects all liabilities which are required to be shown in the balance sheet item “Liabilities to customers”.

  • To the extent that the Deposit Protection Fund or its mandatory makes payments to a customer, the respective amount of the customer’s claims against the Bank, together with all subsidiary rights, shall be transferred simultaneously to the Deposit Protection Fund.

  • Liabilities of banks that already existed before 1 October 2017 are protected in accordance with and under the conditions laid down in the provisions of the By-laws of the Deposit Protection Fund applying until 1 October 2017.

  • The Deposit Protection Fund protects all liabilities which are required to be shown in the balance sheet item "liabilities to clients".

  • The Bank shall be entitled to disclose to the Deposit Protection Fund or to its mandatory all relevant information and to place necessary documents at their disposal.