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 ArticleSRB Outlines Upcoming Changes in Context of CRR2 and BRRD2
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.
EBA published the annual report on asset encumbrance of banks in EU.
MAS revised the guidelines that address technology and cyber risks of financial institutions, in an environment of growing use of cloud technologies, application programming interfaces, and rapid software development.
FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.
EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.