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CSSF Circular 13/555 - Single Customer View - 15/02/2013


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Implementation of the decision made by the board of directors of the Association pour la Garantie des Dépôts, Luxembourg ("AGDL" hereafter) to introduce a "Single Customer View" file in the framework of the deposit guarantee

The purpose of this circular is to inform banks about the requirement to establish and maintain an updated system that allows creating "Single Customer View" file at any time ("SCV"). Each institution, member of AGDL under the deposit guarantee scheme, will have to possess of a solid SCV system by 31 December 2013 at the latest.

The SCV file provides an unique and coherent aggregate overview of deposits with a credit institution to be covered by the deposit guarantee scheme.

The Board of Directors shall approve the SCV system. The authorised management shall confirm annually the compliance with this circular to the CSSF and to the AGDL through a written declaration followed by the signatures of all the authorised management. This declaration shall be provided with the annual accounts.

We trust this information is of assistance and remain at your disposal for any further questions.

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Basil Sommerfeld
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bsommerfeld@deloitte.lu

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