Who we are
Our story
Since the 90's, the global trend has been the establishment of formal deposit guarantee systems. The rationale behind this trend is authorities' increasing concern with the stability of the financial system.
This is reflected in the implementation of additional instruments for monitoring and control, as well as the consequent creation of system protection networks. Ultimate instance loans, efficient regulation and supervision, appropriate legal structures and direct protection to depositors through a guarantee system, are elements of this network designed to maintain a solid, healthy banking system.
Brazil has followed this trend.
The National Monetary Council's (Conselho Monetário Nacional - CMN), Resolution 2,197 of August 31, 1995 authorized the "setting of a private non-profit organization to control the protection of credit holders against financial institutions".
In November 1995, the Statute and Regulation of the new organization were approved and Resolution 2,211 of November 16, 1995.
Managing the financial system protection mechanism that provides for the payment of guarantees, in the event that the Central Bank of Brazil (BCB) decrees the intervention or liquidation of an associated financial institution, to ensure that depositors and investors have access to their resources and minimize the risk of bank runs — a phenomenon in which many customers withdraw their resources from a bank at the same time, leading to crises and, eventually, even the bankruptcy of healthy banks.
Carrying out liquidity or structural assistance operations with associated financial institutions, in specific situations to support temporary liquidity restrictions or to support asset restructuring, enabling, for example, the organized withdrawal of an institution from the market. These assistance operations are carried out when the social cost arising from the liquidation of an associated institution exceeds the cost of carrying it out.
Mission
Vision
Purpose
Purpose
Creation and sharing of knowledge
Security
Risk monitoring and management
Continuous improvement
Productivity
Creation and sharing of knowledge
People
Integrity and respect
Talent development
Teamwork
Future vision
1995
Constitution of the FGC after authorization by the CMN (National Monetary Council).
2002
FGC represents Brazil in the creation of the International Association of Deposit Insurers (IADI).
2006
FGC's guarantee increases from R$ 20,000 to R$ 60,000.
2008
The assistance program for associated institutions is established
2009
Creation of the DPGE (Time Deposit with Special Guarantee).
2010
FGC's guarantee increases to R$ 70,000.
2012
Collateral is delivered for DPGE fundraising.
2013
-Guarantee increases to R$ 250,000.
-Administration becomes independent of the Associates.
2016
-FGC's institutional relationships are no longer strictly with the BCB and are extended to the market, press, and international partners.
-Technical cooperation agreement signed with the guarantee funds of Argentina (SEDESA) and Uruguay (COPAB).
2017
-A ceiling of R$ 1 million for the guarantee paid over a period of 4 years comes into effect.
-Rebranding of the institutional brand.
-Publication of the FGC Code of Ethical Conduct.
2018
-Creation of the FR (Resolution Fund) reserve.
-Liquidity target changed to 2.5%.
2019
2020
-Launch of the application for the payment of guarantees (PF).
-Change in the DPGE limit from R$ 20 million to R$ 40 million, with a differentiated limit of R$ 400 million in operations where the credit holder is an institution associated with the FGC.
-The census of deposits eligible for the guarantee becomes monthly and is processed by the FGC.
-Technical cooperation agreement signed with the guarantee fund of Colombia (FOGAFIN).
2021
Technical cooperation agreement signed with the guarantee fund of Spain (FGD).
2022
-Institutional campaign #agentetegarante.
-The census of deposits eligible for the guarantee starts being disclosed by prudential segment
2023
-Historic record in the capacity and speed of guarantee payments (2 working days after receiving the liquidator's database).
-FGC became a member of the CNF (National Confederation of Financial Institutions) and the IMK (Capital Market Initiative, led by the Ministry of Finance).
-Technical cooperation agreement signed with the CVM.
2023
- Recorde histórico na capacidade e velocidade de pagamento de garantias (2 dias úteis após o recebimento da base de dados do liquidante).
- FGC se torna membro da Confederação Nacional das Instituições Financeiras (CNF) e da Iniciativa de Mercado de Capitais (IMK), capitaneada pelo Ministério da Fazenda.
- Acordo de cooperação técnica firmado com a CVM.
2024
- Inclusão de um novo investimento na lista de depósitos cobertos: as Letras de Crédito do Desenvolvimento (LCD), título de renda fixa que capta recursos para o desenvolvimento da indústria.
- Criação do Comitê de Auditoria Estatutário.
- FGC assume a presidência do Comitê Regional de América Latina (CRAL) e a vice-presidência do Comitê de Políticas do Comitê Executivo da IADI.
Our purpose is to contribute to
people's confidence in the National Financial System and, thus, to
the economic and social development
of the Country.
Code of ethical conduct
Download the document and access the FGC guidelines and standards.
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