Deposit Guarantee Scheme

Deposits held with NOVO BANCO, S.A. benefit from the reimbursement guarantee provided by the Deposit Guarantee Fund whenever deposits become unavailable for reasons directly related to the bank’s financial situation.

The Deposit Guarantee Fund guarantees reimbursement up to a maximum amount of €100,000.00 per depositor, whether the depositor is resident or non- resident in Portugal and whether the deposits are denominated in national or foreign currency.

When calculating the value of each depositor’s deposits, the value of all deposit accounts is considered on the date on which the institution’s inability to pay is verified, including interest. For this purpose, balances in foreign currency deposits are converted into euros at the exchange rate for that date, published daily by the European Central Bank at 2:15 p.m. (Frankfurt time) on the Reuters ECB37 page.

Reimbursement must take place within a maximum period of 
(i) 7 days, for an amount up to €10,000.00 of all covered deposits, and 
(ii) 20 business days, for the remaining amount up to the limit referred to above.

These periods are counted from the date on which deposits become unavailable.

The Deposit Guarantee Fund may, however, in absolutely exceptional circumstances and for individual cases, request Banco de Portugal to extend that period for a period not exceeding 10 business days.

For additional information, see https://clientebancario.bportugal.pt/en and www.fgd.pt/en