The institution
Who FITD is.
The Interbank Deposit Protection Fund is a private-law Consortium established in 1987 on a voluntary basis. It has since become a mandatory Fund. FITD guarantee deposits in the member banks up to 100,000 euro for depositor for bank.
All Italian banks are members of the FITD, except for the cooperative banks, rural/raiffeisen banks (that are instead members of the Depositors Guarantee Fund of Credit Cooperative Banks) and branches of non-EU banks authorized in Italy if they already participate in an equivalent scheme in their home country.
Italian branches of EU banks also may adhere to FITD, in certain cases, to top up their home guarantee coverage.
Our mission
FITD scope is to guarantee deposits in the member banks up to 100,000 euro per depositor per institution, thus increasing the security of savings and boosting confidence in the banking system.
This we do through initiatives to augment citizens’ information about the protection of their deposits (public awareness), by fostering financial stability and by supporting the growth of the Italian economy.
FITD also plays an active role in bank crisis prevention.
FITD financial resources
All financial resources needed for interventions are provided to FITD by the member banks.
Every bank pays in to a special fund (financial endowment) so as to enable rapid action for intervention. This special fund, in line with European regulations, must reach by 3 July 2024 the sum of at least 0.8% of covered deposits.
As of 31 December 2023, 0.8% of covered deposits amounted to 5.8 billion euro.
The contributions by the banks to the target fund are calculated on the basis of their covered deposits and their risk levels. Banks with higher risk pay more and those with lower risk pay less.
One of FITD’s main activities is the constant monitoring of the risk levels of the member banks, on which there is a constant exchange with the supervisory department of Banca d’Italia.
Leadership
Charter of Corporate Values
Read the charter of corporate values →The Code of Ethics
The Code of Ethics sets out the values, principles and binding rules of conduct for the members of the Statutory Bodies, for all persons bound by employment relationships ("Employees"), and for all those who in other ways have a collaborative relationship with the FITD ("Collaborators").
Read the Code of ethics →