DGS

EBA Publishes Opinion on Eligibility of Deposits, Coverage Level and Co-Operation Between Deposit Guarantee Schemes Under the DGSD

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On August 8, the European Banking Authority (EBA) published an opinion (EBA-Op-2019-10) on the eligibility of deposits, coverage level and co-operation between deposit guarantee schemes (DGS) under the Deposit Guarantee Schemes Directive (DGSD) (2014/49/EU).

The opinion outlines a number of general and specific proposals for the European Commission to consider when preparing its mandated report on the progress made towards implementing the DGSD and if the Commission prepares a proposal for a revised DGSD.

The opinion sets out the EBA’s proposals on a range of topics, including:

  • Home-host co-operation, and co-operation agreements between DGS
  • DGS’ co-operation with various stakeholders
  • Transfer of contributions
  • Coverage level
  • Current list of exclusions from eligibility and current provisions on eligibility

It includes a report that provides a detailed analysis of each topic, including the background, methodology, data sources, options to address the issues identified and conclusions.

Deposit Guarantee Scheme Co-Operation Agreement Published by EFDI

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On September 15, 2016, the European Forum of Deposit Insurers (EFDI) published its model deposit guarantee scheme co-operation agreement and supporting rulebook.

The recast Deposit Guarantee Scheme Directive (2014/49/EU) requires EU deposit guarantee schemes (DGS) to repay depositors in a cross-border branch through the DGS in the home state country.

The EFDI model co-option agreement covers the cross-border payment framework, mutual lending and the transfer of contributions between DGS. It also contains methodology implementing technical and functional co-operation for cross-border payments together with IT data requirements, funding and crisis communications.