Fondo de Garantia de Depositos

The Fondo de Garantia de Depositos (FGD) is Spain's deposit guarantee fund, a state-owned enterprise founded in 1977 and headquartered in Madrid. Financed by levies on retail, cooperative, and savings banks along with the Bank of Spain, it guarantees deposits in Spanish banks, including EU branches, up to 100,000 euros per account holder, and maintains three separate guarantee funds for retail banks, savings banks, and cooperative banks. Since 2010 it has also played a role in managing Spain's bank restructuring fund, the Fondo de Reestructuracion Ordenada Bancaria.