Featured Product

    EBA Opinion on Implementation of Deposit Guarantee Schemes Directive

    August 08, 2019

    EBA published an opinion on implementation of the Deposit Guarantee Schemes Directive (DGSD) in EU. In its opinion, EBA proposes a number of changes aimed at strengthening depositor protection, enhancing financial stability, and improving operational effectiveness. Two additional opinions—one on DGS payouts and another on DGS funding and uses of DGS funds—are expected to be issued later in 2019. EBA opinion responds to a mandate under the DGSD and covers the eligibility of deposits, coverage level, and cooperation between deposit guarantee schemes.

    The opinion proposes changes in relation to the current provisions on transfers of DGS contributions between DGSs, cooperation of DGSs with various stakeholders, current list of exclusions from eligibility, current provisions on eligibility, depositor information, approach to the DGS membership of third-country branches, implications of the recent review of the three ESAs, and cross-references to other EU regulations and EU directives. The opinion proposes no changes, for example, to the current coverage level of EUR 100,000, provisions on home-host cooperation, cooperation agreements, or cooperation between EBA and ESRB.

    Article 19(6) of DGSD requires EBA to support EC in its development of a report on the progress toward implementation of DGSD. This opinion is the first part of the fulfillment of this mandate by EBA. EBA invites EC to consider the proposals outlined in the opinion when preparing the report to be submitted to the European Parliament and the Council.

     

    Related Links

    Keywords: Europe, EU, Banking, DGSD, Financial Stability, Opinion, Deposit Guarantee Scheme, EC, EBA

    Related Articles
    News

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    EIOPA Consults on Reporting and Disclosures Under Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    News

    US Agencies Propose Changes to Call Reports and Instructions

    Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.

    July 22, 2021 WebPage Regulatory News
    News

    PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker

    The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.

    July 21, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7293