BKLM331115 - Chargeable equity and liabilities: excluded equity and liabilities: protected deposits: FSCS 'comparable schemes' list
FSCS and ‘comparable schemes’
The fact that a deposit is covered by a comparable scheme does not automatically mean that the whole of the deposit is exempt as a protected deposit. The exempt amount will still follow the rules in paragraph 29 of Schedule 19, and will be the amount of the deposit insured. For chargeable periods ending on or before 31 December 2014, the exempt amount was the higher of the amount of the deposit insured and the amount of the deposit by reference to which the premium or fee in respect of the scheme is computed.
If the deposit is protected under more than one of the categories, the exempt amount is the highest of the amounts protected.
HMRC has accepted for the purposes of the bank levy that the deposit guarantee schemes in the list below are comparable.
It should be noted that the list is not exhaustive and the absence of a particular scheme does not signify that the scheme will not be treated as comparable.
Schemes can be updated so it may be necessary to check the current position and requirements of a particular scheme to confirm that the scheme remains comparable to when the scheme was added to the list: the scheme/regulator’s website would usually be a good place to start.
Banks and advisers may check with HMRC if there are any specific concerns around a scheme and are also welcome to notify HMRC of any schemes not shown below along with their reasoning why that particular scheme should be included.
For further details and links to the scheme websites, click on the links contained in the list.
Protected Deposit Schemes
Country and Scheme
Albania
Albanian Deposits Insurance Agency (ADIA) (web)(link is external) (http://asd.gov.al/en/home/(link is external))
Argentina
Bank Deposit Insurance System (web)(link is external) (http://www.sedesa.com.ar/index.php/en/(link is external))
Armenia
Armenian Deposit Guarantee Fund (web)(link is external) ()
Australia
The Financial Claims Scheme (FCS) (web)(link is external) (https://www.apra.gov.au/financial-claims-scheme-0(link is external))
Austria has five different schemes:
- Einlagensicherung der Banken und Bankiers Gesellschaft m.b.H.
- Österreichische Raiffeisen-Einlangensicherung reg. Gen.m.b.H.
- Hypo- Haftungsgesellschaft m.b.H.
- Sparkassen-Haftungs A
- Schulze-Delitzsch Haftungsgenossenschaft reg.Gen.m.b.H.
Azerbaijan
Deposit Insurance Fund (web)(link is external) ()
Bahrain
Deposit Protection Scheme (web)(link is external) (https://www.cbb.gov.bh/consumer-information/#deposits(link is external))
Bangladesh
Deposit Insurance Scheme (web)(link is external) (https://www.bb.org.bd/fnansys/did/did.php(link is external))
Belgium
Deposit and financial instrument protection fund (web)(link is external) (http://www.protectionfund.be/nl/mod_contexte.html(link is external))
Bosnia & Herzegovina
Deposit Insurance Agency (web)(link is external) ()
Brazil
Credit Guarantor Fund (web)(link is external) (https://www.fgc.org.br/home?lang=en-us(link is external))
Brunei
Deposit Protection Scheme (web)(link is external) (https://www.mofe.gov.bn/sitepages/home.aspx(link is external))
Bulgaria
Bulgarian Deposit Insurance Fund (BDIF) (web)(link is external) ()
Canada
Canada Deposit Insurance Corporation (CDIC) (web)(link is external) (https://www.cdic.ca/(link is external))
China
Chinese Deposit Insurance Act
Colombia
Deposit insurance scheme
Croatia
State Agency for Deposit Insurance and Bank Rehabilitation (web)(link is external) (https://www.dab.hr/en/(link is external))
Cyprus
Deposit Protection Scheme (web)(link is external) (https://www.centralbank.cy/en/deposit-guarantee-investors-compensation-schemes(link is external))
Czech Republic
Financial Market Guarantee System (web)(link is external) (https://www.garancnisystem.cz/en/(link is external))
Denmark
Danish Deposit Guarantee Scheme
Estonia
Deposit Guarantee Sectoral Fund (web)(link is external) ()
Finland
The Deposit Guarantee Fund (web)(link is external) (https://rvv.fi/en/frontpage(link is external))
France
French Deposit Guarantee fund (web)(link is external) (https://www.garantiedesdepots.fr/en/garanties-du-fgdr/deposit-guarantee-…(link is external))
Germany has six different schemes:
Private Association of German Banks: Deposit Protection Fund
- Depositor Compensation Scheme of the Association of German Public Sector Banks GmbH
- Deposit-Protection Fund of the Association of German Public Sector Banks e.V.
- German Saving Banks Association
- National Association of German Cooperative Banks
- The German Private Commercial Banks Compensation Scheme for Investors
Greece
Hellenic Deposit and Investment Guarantee Fund (HDIGF) (web)(link is external) (https://www.teke.gr/index.html#HOME(link is external))
Guernsey
Guernsey Banking Deposit Compensation Scheme (web)(link is external) (https://www.dcs.gg/(link is external))
Hong Kong
Hong Kong Deposit Protection Board (web)(link is external) (https://www.dps.org.hk/index_EN.html(link is external))
Hungary
National Deposit Insurance Fund of Hungary (NDIF) (web)(link is external) ()
Iceland
Icelandic Depositors and Investor Guarantee Fund
India
Deposit Insurance and Credit Guarantee Corporation (web)(link is external) (https://www.dicgc.org.in/(link is external))
Indonesia
Indonesia Deposit Insurance Corporation (web)(link is external) ()
IOM
IOM Depositors’ Protection Scheme (web)(link is external) (https://www.iomfsa.im/consumer-material/isle-of-man-depositors-compensat…(link is external))
Ireland
Irish Deposit Protection Scheme (web)(link is external) (https://www.depositguarantee.ie/en/home(link is external))
Italy
Interbank Deposit Protection Fund (web)(link is external) (http://www.fitd.it/(link is external))
Japan
Deposit Insurance Corporation of Japan (web)(link is external) ()
Jersey
The Jersey Bank Depositors Compensation Scheme (DCS) (web)(link is external) ()
Jordan
LCY Deposit Insurance (web)(link is external) ()
Khazakstan
Khazakstan Deposit Guarantee Fund (KDGF) (web)(link is external) (http://kdif.kz/en/(link is external))
Korea (South)
KDIC (Korea Deposit Insurance Corporation) (web)(link is external) ()
Latvia
Financial and Capital Market Commission of Latvia
Liechtenstein
Liechtenstein Bankers Association
Lithuania
Deposit and Investment Insurance (web)(link is external) ()
Luxembourg
Deposit Guarantee System (web)(link is external) (http://www.fgdl.lu/en/(link is external))
Macau
The Deposit Guarantee Scheme
Macedonia
Deposit Insurance Fund (web)(link is external) (http://www.fodsk.org.mk/Default(link is external))
Malaysia
Malaysia Deposit Insurance Scheme (web)(link is external) ()
Malta
Depositor Compensation Scheme (web)(link is external) (https://www.compensationschemes.org.mt/(link is external))
Mexico
Institute for the Protection of Banking Savings (IPAB) (web)(link is external) ()
Monaco
‘Fonds de garantie des dépôts’ (web)(link is external) (https://www.garantiedesdepots.fr/en/garanties-du-fgdr/deposit-guarantee-scheme(link is external))
Montenegro
Deposit Protection Fund
Netherlands
Deposit Guarantee Scheme (web)(link is external) (https://www.dnb.nl/en/resolution/depositogarantiestelsel/index.jsp(link is external))
Norway
Bank Guarantee Fund (web)(link is external) (https://www.bankenessikringsfond.no/?lang=en_GB(link is external))
Pakistan
Deposit Protection Corporation(link is external) (https://www.dpc.org.pk/(link is external))
Philippines
Philippine Deposit Insurance Corporation (PDIC) (web)(link is external) ()
Poland
Bank Guarantee Fund (web)(link is external) ()
Portugal
Deposit Guarantee Fund (web)(link is external) (https://www.fgcam.pt/garantia-de-depositos(link is external))
Romania
Bank Deposit Guarantee Fund (web)(link is external) (?)
Russia
Deposit Insurance Agency (web)(link is external) ()
Serbia
Deposit Insurance Agency (web)(link is external) (http://www.aod.rs/en-index.html#(link is external)!)
Singapore
Deposit Insurance Scheme (web)(link is external) ()
Slovakia
Deposit Protection Fund (web)(link is external) ()
Slovenia
Deposit Guarantee Scheme (web)(link is external) (https://www.bsi.si/en/financial-stability/deposit-guarantee-scheme(link is external))
Spain
Deposit Guarantee Fund for Banking Institutions (web)(link is external) ()
Sri Lanka
Sri Lanka Deposit Insurance Scheme
Sweden
Deposit Guarantee Board (web)(link is external) ()
Switzerland
Esisuisse (web)(link is external) (https://www.esisuisse.ch/en(link is external))
Taiwan
Central Deposit Insurance Corporation (web)(link is external) (https://www.cdic.gov.tw/main_en/(link is external))
Thailand
Deposit Protection Agency Act B.E. 2551 (2008) (web)(link is external) ()
Turkey
Savings Deposit Insurance Fund (web)(link is external) ()
Ukraine
Bank Deposit Guarantee Fund (web)(link is external) http://www.fg.gov.ua/en(link is external))
USA
The Federal Deposit Insurance Corporation (FDIC) (web)(link is external) ()
Vietnam
Deposit Insurance of Vietnam (DIV) (web)(link is external) (http://div.gov.vn/Default.aspx?tabid=80(link is external))