For institutions
Find the documents, guidelines, and reporting requirements needed to comply with the requirements of the Deposit Guarantee Scheme Sint Maarten.
The DGS Sint Maarten protects covered deposits held at credit institutions up to Cg 50,000 per bank or Cg 25,000 per credit union. In line with the applicable legislation, the Centrale Bank van Curaçao en Sint Maarten (CBCS) together with the Foundation Guarantee Fund (DGF) Sint Maarten are responsible for the DGS. The DGF is a separate legal entity that manages the financial means and makes them available when needed. The financial means consist of contributions from individual banks. In addition to contributing to the DGF, the credit institutions provide data which CBCS needs to administer the DGS, they provide their clients information about the DGS and are responsible for informing their clients about the scheme.
If the DGS needs to be activated as a result of a covered credit institution unable to meet its obligations, or goes bankrupt, the DGS ensures reimbursement of covered depositors up to the statutory coverage limit per person and per credit institution.
