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

    EU Amends CRD4 and CRD5 as Part of Capital Markets Recovery Package

    EU published Directive 2021/338, which amends the Markets in Financial Instruments Directive (MiFID) II and the Capital Requirements Directives (CRD 4 and 5) to facilitate recovery from the COVID-19 crisis.

    February 26, 2021 WebPage Regulatory News
    News

    EU Committee Recommends Systemic Risk Buffer of 4.5% in Norway

    The Standing Committee of the European Free Trade Association (EFTA) recommended that a systemic risk buffer level of 4.5% for domestic exposures can be considered appropriate for addressing the identified systemic risks to the stability of the financial system in Norway.

    February 25, 2021 WebPage Regulatory News
    News

    PRA Clarifies Approach to Onshoring of Credit Risk Rules for UK Banks

    In a recent statement, PRA clarified its approach to the application of certain EU regulatory technical standards and EBA guidelines on standardized and internal ratings-based approaches to credit risk, following the end of the Brexit transition.

    February 25, 2021 WebPage Regulatory News
    News

    FSB Sets Out Work Priorities for 2021

    In a recently published letter addressed to the G20 finance ministers and central bank governors, the FSB Chair Randal K. Quarles has set out the key FSB priorities for 2021.

    February 25, 2021 WebPage Regulatory News
    News

    EU Publishes Corrigendum to Revised Capital Requirements Regulation

    EU published, in the Official Journal of the European Union, a corrigendum to the revised Capital Requirements Regulation (CRR2 or Regulation 2019/876).

    February 25, 2021 WebPage Regulatory News
    News

    ESAs Issue Statement on Application of Sustainability Disclosures Rule

    ESAs published a joint supervisory statement on the effective and consistent application and on national supervision of the regulation on sustainability-related disclosures in the financial services sector (SFDR).

    February 25, 2021 WebPage Regulatory News
    News

    EC Consults on Crisis Management and Deposit Insurance Frameworks

    EC published a public consultation on the review of crisis management and deposit insurance frameworks in EU.

    February 25, 2021 WebPage Regulatory News
    News

    HKMA Enhances Loan Guarantee Scheme to Alleviate Pressure on SMEs

    HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.

    February 24, 2021 WebPage Regulatory News
    News

    EBA Proposes Standards for Supervisory Cooperation Under IFD

    EBA launched consultations on the regulatory and implementing technical standards on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.

    February 24, 2021 WebPage Regulatory News
    News

    BoE Addresses Banks in Scope of First Resolvability Assessment

    BoE issued a letter to the CEOs of eight major UK banks that are in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.

    February 24, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6629