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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
()

Argentina
()

Armenia
()

Australia
()

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
()

Bahrain
()

Bangladesh
()

Belgium
()

Bosnia & Herzegovina
()

Brazil
()

Brunei
()

Bulgaria
()

Canada
()

China
Chinese Deposit Insurance Act

Colombia
Deposit insurance scheme

Croatia
()

Cyprus
()

Czech Republic
()

Denmark
Danish Deposit Guarantee Scheme

Estonia
()

Finland
()

France
()

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
()

Guernsey
()

Hong Kong
()

Hungary
()

Iceland
Icelandic Depositors and Investor Guarantee Fund

India
()

Indonesia
()

IOM
()

Ireland
()

Italy
()

Japan
()

Jersey
()

Jordan
()

Khazakstan
()

Korea (South)
()

Latvia
Financial and Capital Market Commission of Latvia

Liechtenstein
Liechtenstein Bankers Association

Lithuania
()

Luxembourg
()

Macau
The Deposit Guarantee Scheme

Macedonia
()

Malaysia
()

Malta
()

Mexico
()

Monaco
()

Montenegro
Deposit Protection Fund

Netherlands
()

Norway
()

Pakistan
()

Philippines
()

Poland
()

Portugal
()

Romania
(?)

Russia
()

Serbia
(!)

Singapore
()

Slovakia
()

Slovenia
()

Spain
()

Sri Lanka
Sri Lanka Deposit Insurance Scheme

Sweden
()

Switzerland
()

Taiwan
()

Thailand
()

Turkey
()

Ukraine
)

USA
()

Vietnam
()