June 17, 2019

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.

 

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Keywords: Europe, EU, Banking, DGSD, DGS, Covered Deposits, Data, Available Financial Means, EBA

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