The Depositor Compensation Scheme is a rescue fund for depositors of failed banks which are licensed by the Malta Financial Services Authority. Compensation is paid only if a bank is unable to meet its obligations towards depositors or has otherwise suspended payment. The Scheme is based on the EU Directive 94/19 on deposit-guarantee schemes. The scheme is managed by a single Management Committee which is appointed by the MFSA, for more information please read Depositor Compensation Scheme Information Sheet.