Membership of the Deposits Guarantee Fund is compulsory for the following institutions:

• Credit institutions with headquarters in Portugal, authorised to receive deposits;

• Credit institutions based in non-European Union countries, unless Banco de Portugal considers that the guarantee system of the country of origin is equivalent to that of the Deposits Guarantee Fund.

The following institutions do not participate in the Deposits Guarantee Fund:

• Branches of banks based in other European Union countries, insofar as their deposits are covered by the guarantee of the country of origin.