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

    APRA Decides to Standardize Submission Date for Quarterly Reporting

    APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.

    May 11, 2021 WebPage Regulatory News
    News

    Bundesbank Publishes Supporting Documentation for Reporting by Banks

    Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.

    May 11, 2021 WebPage Regulatory News
    News

    ECB Working Group Publishes Recommendations on EURIBOR Fallbacks

    The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).

    May 11, 2021 WebPage Regulatory News
    News

    EBA Publishes Phase 1 of Reporting Framework 3.1

    EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).

    May 10, 2021 WebPage Regulatory News
    News

    APRA to Finalize Capital Adequacy Standard Revisions by January 2022

    Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA

    May 10, 2021 WebPage Regulatory News
    News

    ESMA Issues Guidelines on Outsourcing to Cloud Service Providers

    ESMA published the final guidelines on outsourcing to cloud service providers.

    May 10, 2021 WebPage Regulatory News
    News

    EBA Publishes Data on Deposit Guarantee Schemes

    EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.

    May 10, 2021 WebPage Regulatory News
    News

    OSFI Sets Out Plan for Future Guidance on Managing Technology Risk

    OSFI has set out the schedule for release of draft guidance on the management of technology risks by federally regulated financial institutions and private pension plans.

    May 10, 2021 WebPage Regulatory News
    News

    MAS Updates Housing Loan Rules, Proposes Corporate Governance Guidance

    MAS updated rules for new housing loans by banks and finance companies.

    May 10, 2021 WebPage Regulatory News
    News

    HKMA Publishes Guideline on Sustainable Finance Grant Scheme

    HKMA published a statement on the 100% Personal Loan Guarantee Scheme and a guideline on the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) as announced in the 2021-22 Budget.

    May 09, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6959