EBA published the 2018 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD)—namely, available financial means and covered deposits. EBA collects these data in accordance with Article 10(10) of the DGSD and publishes the data annually to enhance the transparency and public accountability of deposit guarantee schemes (DGSs) across EU to the benefit of depositors, markets, policymakers, DGSs and members states.
The available financial means data, as of December 31, 2018, show that 32 out of a total of 43 DGSs in EU member states had increased their funds since December 31, 2017. This result is mainly triggered by the levies paid by the members of the DGSs, which were raised to reach the target level of 0.8% of covered deposits set out in the DGSD and to be attained by July 2024. No significant changes to the available financial means occurred in eight DGSs, mainly because most of them already hold more than the minimum target level of 0.8%. The available financial means decreased only for one DGS, which used its funds to repay outstanding loans. Five DGSs used their available financial means in 2018 to pay out depositors without causing a fall in such funds compared to the previous year, as the use of these funds was at least matched by contributions to the available financial means.
Keywords: Europe, EU, Banking, DGSD, DGS, Covered Deposits, Data, Available Financial Means, EBA
Previous ArticleCFPB Launches American Consumer Financial Innovation Network
The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.
The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.
The Federal Financial Supervisory Authority of Germany (BaFin) proposed to amend the “Capital Investment Conduct And Organization Ordinance” and issued a draft circular on the minimum resolvability requirements for resolution planning.
The European Banking Authority (EBA) proposed guidelines, for the resolution authorities, on the publication of the write-down and conversion and bail-in exchange mechanic, with the comment period ending on September 07, 2022.
The Financial Services Authority of Indonesia (OJK) is strengthening cooperation with the Australian Prudential Regulation Authority (APRA) and the Japanese Financial Services Agency (JFSA)
The European Parliament and the Council published Regulation 2022/868 on European data governance (Data Governance Act).
The European Banking Authority (EBA) published phase 2 of its reporting framework 3.2. The technical package supports the implementation of the updated reporting framework by providing standard specifications