Deposit Guarantee Scheme
As a licensing condition, Article 7 of the Banking Act requires banks to join a deposit guarantee and investor compensation scheme for the protection of client assets. The purpose of this system is to cover unavailable deposits or investor claims in the event of insolvency or bankruptcy of a Liechtenstein bank.
In 2001, the LBA decided in favour of an autonomous solution. As the founder, it is organisationally responsible for the Deposit Guarantee and Investor Compensation Foundation PCC (EAS). The foundation has assumed the obligation of compensating clients up to a maximum amount of CHF 100,000 in the event of the insolvency or bankruptcy of a bank that has a valid contractual relationship with the foundation.
As Liechtenstein’s only protection scheme, EAS contributes significantly to creditor protection and makes a decisive contribution to the stability and security and thus the reputation of the financial centre.