There are 64 billion deposits not covered by the guarantee fund – banks and finance

Deposits classified as eligible by the Deposit Guarantee Fund (FGD) totaled €225,344 million at the end of last year, an increase of more than €35 billion, or 18.4%, compared to €190,284 million in the previous year, according to data from Focus group discussion report and accounts.

The document notes that of these amounts of more than 225 billion euros, the fund covers only 161,164 million euros, which is equivalent to a coverage ratio of 72%, a ratio that has been maintained since 2018.

However, this means that €64.2 billion is not guaranteed by the fund, that is, it corresponds to amounts over €100,000 per deposit, which is the maximum coverage by the FGD.

This 64.2 billion euros means that the value of deposits above 100,000 euros has increased by 10 billion euros compared to 54 billion in 2019.

Deposits less than 10,000 euros lose weight

The report also shows that 77.7% of depositors have less than 10 thousand euros in their accounts, which is lower than the 79.2% observed in 2019. In fact, this is the only level at which the relative weight of depositors has decreased last year.

In the range between 10,000 and 25,000 euros it is now 11.9% of depositors, up 0.8 percentage points from the previous year.

Deposits from €25k to €50k now represent 5.7% of the total (5.3% in 2019), while deposits from €50k to €100k go from 2.8% to 3%. Finally, deposits above €100,000 – and amounts above this limit are not guaranteed by the fund – now represent 1.7% of the total, up 0.1 percentage point from the end of 2019.