Belgium's deposit guarantee fund is two to three times larger than those of other EU countries, according to the European Banking Authority (EBA), L'Echo reported on Tuesday.
Each year, the EBA releases data on the deposit guarantee systems of EU Member States. These systems are used to reimburse bank customers in the event of a bank failure, up to a maximum of €100,000 per customer, per bank, with higher amounts possible in certain cases.
These amounts are funded by banks, which allocate a portion of their deposits annually.
Significant differences exist among Member States. While the €100,000 protection threshold is standardised across Europe, the ratio of coverage by guarantee funds varies, beyond the legal minimum of 0.8%.
In Belgium, the Guarantee Fund, which links all banks, amounted to €5.7 billion at the end of 2024, covering €357.9 billion in deposits with a coverage ratio of 1.6%.
This is the highest level in the Eurozone, excluding Estonia and Latvia, which have the smallest banking systems in the currency area.
Additionally, Belgium's target ratio has been increased to 1.8% of deposits, on the initiative of Deputy Prime Minister Vincent Van Peteghem, to bolster savers' confidence.
This target is set to be reached by July 2025.
