NEW EFDI MEMBER: Andorran Deposit Guarantee Fund, Fons Andorrà de Garantia de Dipòsits (FAGADI)

Published on March 31, 2025

Brussels 31st March, 2025

We are delighted to announce that the Andorran Deposit Guarantee Fund, Fons Andorrà de Garantia de Dipòsits (Fagadi) has become a new EFDI Member as from 18th March.

FAGADI was established in 2011 and it is currently regulated by Law 20/2018, of 13 December, governing the Andorran Deposit Guarantee Fund and the Andorran Investor Compensation Scheme, which is based on the Directive 2014/49/EU, of 16 April 2014, relating to deposit guarantee schemes.

FAGADI is governed by a management commission that has six members: 2 from the Autoritat Financera Andorrana (AFA), 1 from the Ministry of Finance, 1 from the Agència Estatal de Resolució d'Entitats Bancàries (AREB) and 2 appointed by the banking entities through the Andorran Banking Association.

The inclusion of the Fagadi is a step forward in EFDI's mission of strengthening the role of deposit guarantee schemes and promote European cooperation in the field of deposit insurance.

With the inclusion of Fagadi, EFDI currently has 71 members, 56 Deposit Guarantee Schemes and 15 Investor Compensation Schemes from 51 jurisdictions in Europe.

Please join us in welcoming Fagadi to EFDI, where we look forward to a very fruitful collaboration.

Please find below Fagadi main characteristics

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More information concerning the Fagadi is available in the following web site:

https://www.afa.ad/en/fons-de-garantia?set_language=en

 

 

 

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