Annual Financial Statements of the Depositors’ and Investors’ Guarantee Fund 2007:
Annual Report 31 12 2007.pdf  

Annual Financial Statements of the Depositors’ and Investors’ Guarantee Fund 2006:
Annual Report 31 12 2006.pdf  

From the Central Bank of Iceland's Financial Stability Report 2006:
DGIC April 2005.pdf 

The Icelandic deposit guarantee scheme is based on the EU directive 94/19/EC of the European Parliament and of the Council.

The Directive ensures that the main elements of the deposit guarantee schemes are harmonized across the European Union (EU) and EEA (EEA includes Iceland, Norway and Liechtenstein).

The Depositors’ and Investors’ Guarantee Fund is subject to the provisions of Act No. 98/1999,which was passed by Parliament on December 27, 1999 with later amendments and entered into force on January 1, 2000.
The Fund was established on December 28, 1999.  The Resolution Fund is subject to the provisions of Act no. 70/2020 on Recovery and Resolution of Credit Institutions and Investment Firms

All Icelandic commercial banks and savings banks are obliged to be members of the Fund. The same applies to branches of such parties within the EEA

The Icelandic Depositors’ and Investors’ Guarantee Fund (TIF) is a private foundation operating pursuant to Act No. 98/1999. The objective of the Act is to guarantee a minimum level of protection to depositors in commercial banks and savings banks, and to customers of companies engaging in securities trading pursuant to law, in the event of difficulties of a given company in meeting its obligations to its customers according to the provisions of the Act. Its objective is also to finance resolution proceedings in accordance with the Act on Recovery and Resolution of Credit Institutions and Investment Firms, No. 70/2020.


TIF operates in three independent divisions, i.e. Deposit Division, the Securities Division and the Resolution Fund. The operation of the Deposit Division and the Securities Division is subject to the provisions of Act no. 98/1999. The Resolution Fund was established as a separate division within TIF by Act No. 70/2020 and the provisions of Act no. 98/1999 do not affect the operations of this division.


Commercial banks, savings banks, companies providing investment services, and other parties engaging in securities trading pursuant to law and established in Iceland, shall be members of the Fund. The same applies to any branches of such parties within the European Economic Area. Such Member Companies shall not be liable for any commitments entered into by the Fund beyond their statutory contributions to it.

List of membership companies

The Fund is under surveillance of the Icelandic Financial Supervisory Authority, FME.
 
Managing Director is Brynjar Kristjansson.