The purpose of the Guarantee Fund is to provide customers of the banks with minimum protection in the event of the banks’ encountering problems with solvency. The Icelandic banks pay into the fund in respect of their operations in Iceland and their branches in other Member States of the European Economic Area (EEA).
Background
Here you can find information about the nature of the Depositors' and Investors' Guarantee Fund of Iceland ('Guarantee Fund'), and the Landsbanki Íslands hf.'s Icesave-accounts in the United Kingdom and the Netherlands.
Landsbanki Íslands hf. and Icesave
Landsbanki Íslands hf. operated branches in Britain and in the Netherlands, and invited customers to open deposit accounts under the name ‘Icesave’. Payments were made into the Guarantee Fund in Iceland, the bank’s home state, in respect of these accounts.
