Promoting the stability of the financial system

One of our tasks is to promote the stability of the financial system. This includes administering the deposit guarantee scheme (DGS), for which purpose we receive deposit holders' personal data from banks.

In the event of a bank failure, it is crucial to establish without delay whether deposit holders qualify for compensation. This is why banks participating in the DGSare required to submit reliable and accurate data to us by the specified deadlines, in the form of single customer views (SCVs). An SCV contains the following data:

  • a comprehensive specification of a deposit holder's deposits
  • markings indicating whether a specific deposit or depositor is eligible under the DGS
  • additional information needed to pay out DGS compensation

We also receive the deposit holder's citizen service number (burgerservicenummer – BSN).

If a depositor's account is blocked, the blockage and the reason for it are stated. This may be a criminal fact, for instance a previous conviction for money laundering.

Outside the times when the DGS is activated, we receive SCV files from banks to assess the timeliness, reliability and accuracy of these files, and to make adjustments where necessary.

This processing of depositors' personal data is necessary for compliance with our legal obligation to operate the DGS (under Article 6(1)(c) of the GDPR). We retain the personal data we receive to assess the timeliness, reliability and accuracy of the files for three months. The personal data we receive to establish a depositor's eligibility for compensation are kept for twenty years.