Introduction
Financial institutions that are protected by the DGS contribute to the Deposit Guarantee Fund (DGF). The protected financial institutions pay annual contributions to build up the Deposit Guarantee Fund during 10 years, up to 7% of the total guaranteed deposits. In addition to contributing to the Deposit Guarantee Fund, the financial institutions provide data and customer information to the CBCS. This data is essential to administer and execute the DGS. The CBCS provides the banks, savings funds, and credit unions with guidelines and information about the DGS requirements.
The following topics provide basic information about the DGS for financial institutions: