Bank going bankrupt: what can happen to your money?

This is a scenario that has something to worry all taxpayers. What happens, very concretely, when the bank to which you have entrusted your precious (and difficult to earn!) funds goes bankrupt? Is it still possible, in this case, to review the color of your money? Fortunately, the risk does not appear particularly high, as Planet has already been able to explain in the past. Even more reassuring, perhaps: it has also been considered by the authorities. Does this mean that you will be able to benefit from the reimbursement of your stockings, if applicable? Explanations.

In France, an organization has even been created to ensure French women and men the proper management of their savings. This is the Deposit Guarantee and Resolution Fund (FGDR), which is responsible for protecting everyone’s savings. Each banking institution domiciled in France pays contributions to the latter. However, this does not mean that customers could recover all of their savings in the event of a problem, informs Le Parisien on its site.

In practice, continue our colleagues, the Deposit Guarantee and Resolution Fund guarantees up to 100,000 euros per French person and per account, if the bank concerned is French or has a French subsidiary.

That being said, the FGDR does not particularly protect taxpayers’ savings. The Livret A and its little brother the LDDS, as well as the LEP, are all guaranteed by the State, which means that all the funds are returned to the beneficiaries in the event of concern. Life insurance depends on the insurer and not on the bank, as does the famous PER. Only certain investments in stock exchanges can be covered by the organization… and reimbursement is capped at 70,000 euros.