The Restructuring Department is required to have total assets of DKK 3.2 billion in commitments for resolution purposes. As the Department incurred no losses in 2022, it was not necessary to collect cash contributions. Instead, commitments were redistributed among the banks in the Department.

The Mortgage Credit Department is required to have total assets of at least DKK 10 million. However, the part of the assets collected on the basis of the covered funds must total at least DKK 2.5 million of the total assets. As the assets have reached the target level and Danish mortgage credit in­sti­tu­tions no longer have covered cash funds, no cash contributions are collected. Finansiel Stabilitet only carries out an adjustment of commitments totalling DKK 7.5 million.

The Deposit Guarantee Fund provides financial coverage to de­positors and investors of Danish banks, mortgage credit in­sti­tu­tions and investment compa­nies as well as certain in­vest­ment management companies and managers of alter­native invest­ment funds. It also provides coverage to depositors in Danish branches of foreign banks that have applied for supple­men­tary coverage to the guarantee scheme in their country of residence.

The Deposit Guarantee Fund covers deposits and cash funds up to an amount of EUR 100,000 (approximately DKK 745,000).

In addition, certain special deposits with increased coverage are covered for a limited period, e.g. deposits which pursuant to legislation serve social purposes and are linked to particular life events are covered by EUR 150,000 for a period of six months and deposits resulting from real estate transactions relating to non-traders are covered by up to EUR 10 million for a period of 12 months from the date on which the deposit was made.

Pension funds, e.g. cash deposits into annuity pension and retirement pension schemes, are fully covered.

The Deposit Guarantee Fund also manages the investor guar­an­tee scheme. For investors, this means that coverage is provided up to EUR 20,000 (approximately DKK 150,000) per investor, if the institution fails to return financial instruments which belong to the investor and which are held or managed by the institution.

Danish branches of foreign banks that are resident in another EU or EEA country are generally covered by the deposit guar­an­tee scheme applicable in the foreign bank’s country of resi­dence. It is possible for such branches to apply for supple­men­tary coverage under the Da­nish scheme. The supplementary coverage is triggered in cases where the Da­nish scheme provides better coverage than that of the country of residence, e.g. pension accounts and the special deposits subject to increased coverage for a period of 6 to 12 months after the amount was deposited with the bank.

Branches in Denmark of Nordea Bank Abp, Swedbank AB, Nordnet Bank AB, Skandinaviska Enskilda Banken AB, Ikano Bank AB and Carnegie Investment Bank AB have applied for coverage under the Deposit Guarantee Fund as a supplement to the coverage provided by the national guarantee schemes.

It is the guarantee scheme of the host country which is to make disbursements to depositors on behalf of the guarantee scheme of the country of residence in connection with the resolution of a branch. In certain situations, the Deposit Guarantee Fund may be required to make disbursements on behalf of deposit guarantee schemes of other countries.

For branches of credit institutions that are residents in non-EU or EEA member states, the branch must be a member of the Da­nish deposit guarantee scheme if the coverage of depositors and investors in the country in which the branch is resident does not equal the coverage of depositors and investors in Denmark.

Additional information on the legislative framework governing the Deposit Guarantee Fund’s coverage is provided on www.fs.dk.