Circulaire CSSF-CPDI 23/38 – Recensement du montant des dépôts garantis au 30 septembre 2023

The Circular CSSF-CPDI 23/38, concerning the members of the Fonds de garantie des dépôts Luxembourg, outlines key points regarding the survey on the amount of covered deposits held on 30 September 2023.
This present circular is essential for ensuring the accuracy of covered deposit information and determining the contributions to the Resolution Fund, emphasizing the importance of adherence to regulatory definitions and reporting procedures. Institutions must be vigilant in promptly correcting any errors or omissions in their submitted data.
1. Purpose of the Circular: The primary objective of this circular is to conduct a routine survey on deposits, specifically focusing on covered deposits, held by credit institutions incorporated under Luxembourg law, POST Luxembourg for its postal financial services, and Luxembourg branches of credit institutions headquartered in third countries.
2. Definitions and Regulations: The circular references Article 163 of the amended Law of 18 December 2015 (BRRD Law), which defines „covered deposits“ and „eligible deposits.“ Institutions should adhere to the provisions of Circular CSSF-CPDI 16/02, as amended by Circular CSSF-CPDI 23/35. Special attention is given to exclusions of financial structures (accounts denominated in units of precious metals or virtual currencies) and the treatment of accounts with multiple entitled parties.
3. Data Reporting: FGDL members are required to provide accurate data at the entity level, including branches in other EU Member States, by 15 November 2023. This data forms the basis for determining contributions to the Resolution Fund. Reporting via E-File or SOFiE is deactivated, and institutions must use CSSF eDesk platform or submit structured files through S3 protocol. Detailed instructions for reporting are provided, and even if no amount is to be reported, a submission with a value of „0“ must be made. Errors detected during validation require corrected reports.
4. Data Corrections: Institutions must promptly contact designated contacts if they discover errors or omissions in transmitted data, including after the submission deadline.
5. Management Approval: Given the significance of the survey, a member of the authorized management, specifically the member responsible for FGDL membership in accordance with Circular CSSF 13/555, as amended by Circular CSSF-CPDI 23/36, must review and approve the document before transmission to the CSSF.
Specifications for filling in the survey on covered deposits are included as an Annex to Circular CSSF-CPDI 23/38.