Deposit guarantee is a component of the financial safety net and contributes to ensuring the stability of the banking system.

It helps protect the social function of saving and avoid serious consequences for depositors in the event of a bank failure.

It provides safeguards for the less sophisticated savers, that is, those who lack tools to adequately assess the risk level of institutions they entrust with their savings.

The present coverage limit is 100,000 euro per depositor, per bank. The reimbursement timeframe is 7 working days, starting from the date on which the provision on the unavailability of deposits or compulsory administrative liquidation of the bank takes effect.

Following Art. 96-bis.1 of the Italian Consolidated Banking Law (TUB) and Art. 33 of FITD Statute, claims on repayable funds acquired by member banks, in euro or other currencies, under the form of deposits or other forms, including bankers’ drafts and equivalent instruments, are eligible for reimbursement by FITD.