The Superintendency of Banking, Insurance and AFP updated the maximum amount of coverage of the Deposit Insurance Fund (FSD) until August 2023. Mechanism allows savers to recover their money in case of bankruptcy of the financial institution.
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The Superintendency of Banking, Insurance and AFP (SBS) updated wednesday june 7 in S/123,920 the maximum amount of coverage of the Deposit Insurance Fund (FSD)corresponding to the June-August 2023 quarter.
SBS Circular No. B-2266-2023 determines a reduction in the FSD compared to the previous quarter, whose coverage capacity amounted to S/125,714, between the months of March and May.
The FSD is a backup that allows savers to recover their money, including interest earned, up to the maximum amount indicated, in the event of bankruptcy of one of the insured financial entities.
This insurance is free for depositors, it is automatic (it does not require prior registration) and it applies to each entity independently. In other words, a person could have S/ 120,000 in a bank and S/ 120,000 in a box, and would be covered by the FSD in both institutions.
This insurance does not have an additional cost for users of the financial system. It is also automatic, since you do not need prior registration and it applies to each institution independently.
Source: Larepublica
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