DGSD — Директива 2014/49/ЕС о системах гарантирования депозитов

1. This Directive lays down rules and procedures relating to the establishment and the functioning of deposit guarantee schemes (DGSs).

2. This Directive shall apply to:

(a) statutory DGSs;

(b) contractual DGSs that are officially recognised as DGSs in accordance with Article 4(2);

(c) institutional protection schemes that are officially recognised as DGSs in accordance with Article 4(2);

(d) credit institutions affiliated to the schemes referred to in points (a), (b) or (c) of this paragraph.

3. Without prejudice to Article 16(5) and (7), the following schemes shall not be subject to this Directive:

(a) contractual schemes that are not officially recognised as DGSs, including schemes that offer an additional protection to the coverage level laid down in Article 6(1);

(b) institutional protection schemes (IPS) that are not officially recognised as DGSs.

Member States shall ensure that schemes referred to in points (a) and (b) of the first subparagraph have in place adequate financial means or relevant financing arrangements to fulfil their obligations.

(1) ‘deposit guarantee schemes’ or ‘DGSs’ means schemes referred to in point (a), (b) or (c) of Article 1(2);

(2) ‘institutional protection schemes’ or ‘IPS’ means institutional protection schemes as referred to in Article 113(7) of Regulation (EU) No 575/2013;

(3) ‘deposit’ means a credit balance which results from funds left in an account or from temporary situations deriving from normal banking transactions and which a credit institution is required to repay under the legal and contractual conditions applicable, including a fixed-term deposit and a savings deposit, but excluding a credit balance where:

(a) its existence can only be proven by a financial instrument as defined in Article 4(17) of Directive 2004/39/EC of the European Parliament and of the Council, unless it is a savings product which is evidenced by a certificate of deposit made out to a named person and which exists in a Member State on 2 July 2014;

(b) its principal is not repayable at par;

(c) its principal is only repayable at par under a particular guarantee or agreement provided by the credit institution or a third party;

(4) ‘eligible deposits’ means deposits that are not excluded from protection pursuant to Article 5;

(5) ‘covered deposits’ means the part of eligible deposits that does not exceed the coverage level laid down in Article 6;

(6) ‘depositor’ means the holder or, in the case of a joint account, each of the holders, of a deposit;

(7) ‘joint account’ means an account opened in the name of two or more persons or over which two or more persons have rights that are exercised by means of the signature of one or more of those persons;

(8) ‘unavailable deposit’ means a deposit that is due and payable but that has not been paid by a credit institution under the legal or contractual conditions applicable thereto, where either:

(a) the relevant administrative authorities have determined that in their view the credit institution concerned appears to be unable for the time being, for reasons which are directly related to its financial circumstances, to repay the deposit and the institution has no current prospect of being able to do so; or

(b) a judicial authority has made a ruling for reasons which are directly related to the credit institution’s financial circumstances and which has the effect of suspending the rights of depositors to make claims against it;

(9) ‘credit institution’ means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;

(10) ‘branch’ means a place of business in a Member State which forms a legally dependent part of a credit institution and which carries out directly all or some of the transactions inherent in the business of credit institutions;

(11) ‘target level’ means the amount of available financial means which the DGS is required to reach in accordance with Article 10(2), expressed as a percentage of covered deposits of its members;

(12) ‘available financial means’ means cash, deposits and low-risk assets which can be liquidated within a period not exceeding that referred to in Article 8(1) and payment commitments up to the limit set out in Article 10(3);

(13) ‘payment commitments’ means payment commitments of a credit institution towards a DGS which are fully collateralised providing that the collateral:

(a) consists of low risk assets;

(b) is unencumbered by any third-party rights and is at the disposal of the DGS;

(14) ‘low-risk assets’ means items falling into the first or second category referred to in Table 1 of Article 336 of Regulation (EU) No 575/2013 or any assets which are considered to be similarly safe and liquid by the competent or designated authority;

(15) ‘home Member State’ means a home Member State as defined in point (43) of Article 4(1) of Regulation (EU) No 575/2013;

(16) ‘host Member State’ means a host Member State as defined in point (44) of Article 4(1) of Regulation (EU) No 575/2013;

(17) ‘competent authority’ means a national competent authority as defined in point (40) of Article 4(1) of Regulation (EU) No 575/2013;

(18) ‘designated authority’ means a body which administers a DGS pursuant to this Directive, or, where the operation of the DGS is administered by a private entity, a public authority designated by the Member State concerned for supervising that scheme pursuant to this Directive.

2. Where this Directive refers to Regulation (EU) No 1093/2010, a body which administers a DGS or, where the operation of the DGS is administered by a private entity, the public authority supervising that scheme, shall, for the purpose of that Regulation, be considered to be a competent authority as defined in Article 4(2) of that Regulation.

3. Shares in Irish or United Kingdom building societies apart from those of a capital nature covered in point (b) of Article 5(1) shall be treated as deposits.

1. Member States shall identify the relevant administrative authority in their Member State for the purpose of point (8)(a) of Article 2(1).

2. Competent authorities, designated authorities, resolution authorities and relevant administrative authorities shall cooperate with each other and exercise their powers in accordance with this Directive.

The relevant administrative authority shall make the determination referred to in point (8)(a) of Article 2(1) as soon as possible and in any event no later than five working days after first becoming satisfied that a credit institution has failed to repay deposits which are due and payable.

1. Each Member State shall ensure that within its territory one or more DGSs are introduced and officially recognised.

This shall not preclude the merger of DGSs of different Member States or the establishment of cross-border DGSs. Approval of such cross-border or merged DGSs shall be obtained from the Member States where the DGSs concerned are established.

2. A contractual scheme as referred to in point (b) of Article 1(2) of this Directive may be officially recognised as a DGS if it complies with this Directive.

An IPS may be officially recognised as a DGS if it fulfils the criteria laid down in Article 113(7) of Regulation (EU) No 575/2013 and complies with this Directive.

3. A credit institution authorised in a Member State pursuant to Article 8 of Directive 2013/36/EU shall not take deposits unless it is a member of a scheme officially recognised in its home Member State pursuant to paragraph 1 of this Article.

4. If a credit institution does not comply with the obligations incumbent on it as a member of a DGS, the competent authorities shall be notified immediately and, in cooperation with the DGS, shall promptly take all appropriate measures including if necessary the imposition of penalties to ensure that the credit institution complies with its obligations.

5. If the measures taken under paragraph 4 fail to secure compliance on the part of the credit institution, the DGS may, subject to national law and the express consent of the competent authorities, give not less than one month’s notice of its intention to exclude the credit institution from membership of the DGS. Deposits made before the expiry of that notice period shall continue to be fully covered by the DGS. If, on expiry of that notice period, the credit institution has not complied with its obligations, the DGS shall exclude the credit institution.

6. Deposits held on the date on which a credit institution is excluded from membership of the DGS shall continue to be covered by that DGS.

7. The designated authorities shall supervise DGSs referred to in Article 1 on an ongoing basis as to their compliance with this Directive.

Cross-border DGSs shall be supervised by representatives of the designated authorities of the Member States where the affiliated credit institutions are authorised.

8. Member States shall ensure that a DGS, at any time and upon the DGS’s request, receives from their members all information necessary to prepare for a repayment of depositors, including markings under Article 5(4).

9. DGSs shall ensure the confidentiality and the protection of the data pertaining to depositors’ accounts. The processing of such data shall be carried out in accordance with Directive 95/46/EC.

10. Member States shall ensure that DGSs perform stress tests of their systems and that the DGSs are informed as soon as possible in the event that the competent authorities detect problems in a credit institution that are likely to give rise to the intervention of a DGS.

Such tests shall take place at least every three years and more frequently where appropriate. The first test shall take place by 3 July 2017.

Based on the results of the stress tests, EBA shall, at least every five years, conduct peer reviews pursuant to Article 30 of Regulation (EU) No 1093/2010 in order to examine the resilience of DGSs. DGSs shall be subject to the requirements of professional secrecy in accordance with Article 70 of that Regulation when exchanging information with EBA.

11. DGSs shall use the information necessary to perform stress tests of their systems only for the performance of those tests and shall keep such information no longer than is necessary for that purpose.

12. Member States shall ensure that their DGSs have in place sound and transparent governance practices. DGSs shall produce an annual report on their activities.

1. The following shall be excluded from any repayment by a DGS:

(a) subject to Article 7(3) of this Directive, deposits made by other credit institutions on their own behalf and for their own account;

(b) own funds as defined in point (118) of Article 4(1) of Regulation (EU) No 575/2013;

(c) deposits arising out of transactions in connection with which there has been a criminal conviction for money laundering as defined in Article 1(2) of Directive 2005/60/EC;

(d) deposits by financial institutions as defined in point (26) of Article 4(1) of Regulation (EU) No 575/2013;

(e) deposits by investment firms as defined in point (1) of Article 4(1) of Directive 2004/39/EC;

(f) deposits the holder of which has never been identified pursuant to Article 9(1) of Directive 2005/60/EC, when they have become unavailable;

(g) deposits by insurance undertakings and by reinsurance undertakings as referred to in Article 13(1) to (6) of Directive 2009/138/EC of the European Parliament and of the Council;

(h) deposits by collective investment undertakings;

(i) deposits by pension and retirement funds;

(j) deposits by public authorities;

(k) debt securities issued by a credit institution and liabilities arising out of own acceptances and promissory notes.

2. By way of derogation from paragraph 1 of this Article, Member States may ensure that the following are included up to the coverage level laid down in Article 6(1):

(a) deposits held by personal pension schemes and occupational pension schemes of small or medium-sized enterprises;

(b) deposits held by local authorities with an annual budget of up to EUR 500 000.

3. Member States may provide that deposits that may be released in accordance with national law only to pay off a loan on private immovable property whether made by the credit institution or another institution holding the deposit are excluded from repayment by a DGS.

4. Member States shall ensure that credit institutions mark eligible deposits in a way that allows an immediate identification of such deposits.

1. Member States shall ensure that the coverage level for the aggregate deposits of each depositor is EUR 100 000 in the event of deposits being unavailable.

2. In addition to paragraph 1, Member States shall ensure that the following deposits are protected above EUR 100 000 for at least three months and no longer than 12 months after the amount has been credited or from the moment when such deposits become legally transferable:

(a) deposits resulting from real estate transactions relating to private residential properties;

(b) deposits that serve social purposes laid down in national law and are linked to particular life events of a depositor such as marriage, divorce, retirement, dismissal, redundancy, invalidity or death;

(c) deposits that serve purposes laid down in national law and are based on the payment of insurance benefits or compensation for criminal injuries or wrongful conviction.

3. Paragraphs 1 and 2 shall not prevent Member States from maintaining or introducing schemes protecting old-age provision products and pensions, provided that such schemes do not only cover deposits but offer comprehensive coverage for all products and situations relevant in this regard.

4. Member States shall ensure that repayments are made in any of the following:

(a) the currency of the Member State where the DGS is located;

(b) the currency of the Member State where the account holder is resident;

(c) euro;

(d) the currency of the account;

(e) the currency of the Member State where the account is located.

Depositors shall be informed of the currency of repayment.

If accounts were maintained in a currency different from that of the payout, the exchange rate used shall be that of the date on which the relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or when a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1).

5. Member States that convert into their national currency the amount referred to in paragraph 1 shall initially use in the conversion the exchange rate prevailing on 3 July 2015.

Member States may round off the amounts resulting from the conversion, provided that such rounding off does not exceed EUR 5 000.

Without prejudice to the second subparagraph, Member States shall adjust the coverage levels converted into another currency to the amount referred to in paragraph 1 of this Article every five years. Member States shall make an earlier adjustment of coverage levels, after consulting the Commission, following the occurrence of unforeseen events such as currency fluctuations.

6. The amount referred to in paragraph 1 shall be reviewed periodically by the Commission and at least once every five years. If appropriate, the Commission shall submit to the European Parliament and to the Council a proposal for a Directive to adjust the amount referred to in paragraph 1, taking account in particular of developments in the banking sector and the economic and monetary situation in the Union. The first review shall not take place before 3 July 2020 unless unforeseen events necessitate an earlier review.

7. The Commission shall be empowered to adopt delegated acts in accordance with Article 18 in order to adjust the amount referred to in paragraph 6 at least every five years, in accordance with inflation in the Union on the basis of changes in the harmonised index of consumer prices published by the Commission since the previous adjustment.

1. The limit referred to in Article 6(1) shall apply to the aggregate deposits placed with the same credit institution irrespective of the number of deposits, the currency and the location within the Union.

2. The share of each depositor in a joint account shall be taken into account in calculating the limit provided for in Article 6(1).

In the absence of special provisions, such an account shall be divided equally among the depositors.

Member States may provide that deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, may be aggregated and treated as if made by a single depositor for the purpose of calculating the limit provided for in Article 6(1).

3. Where the depositor is not absolutely entitled to the sums held in an account, the person who is absolutely entitled shall be covered by the guarantee, provided that that person has been identified or is identifiable before the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or a judicial authority makes a ruling referred to in point (8)(b) of Article 2(1). Where several persons are absolutely entitled, the share of each under the arrangements subject to which the sums are managed shall be taken into account when the limit provided for in Article 6(1) is calculated.

4. The reference date for the calculation of the repayable amount shall be the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or when a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1). Liabilities of the depositor against the credit institution shall not be taken into account when calculating the repayable amount.

5. Member States may decide that the liabilities of the depositor to the credit institution are taken into account when calculating the repayable amount where they have fallen due on or before the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or when a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1) to the extent the set-off is possible under the statutory and contractual provisions governing the contract between the credit institution and the depositor.

Depositors shall be informed prior to the conclusion of the contract by the credit institution where their liabilities towards the credit institution are taken into account when calculating the repayable amount.

6. Member States shall ensure that DGSs may at any time request credit institutions to inform them about the aggregated amount of eligible deposits of every depositor.

7. Interest on deposits which has accrued until, but has not been credited at, the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1) shall be reimbursed by the DGS. The limit referred to in Article 6(1) shall not be exceeded.

8. Member States may decide that certain categories of deposits fulfilling a social purpose defined by national law, for which a third party has given a guarantee that complies with State aid rules, are not taken into account when aggregating the deposits held by the same depositor with the same credit institution as referred to in paragraph 1 of this Article. In such cases the third-party guarantee shall be limited to the coverage level laid down in Article 6(1).

9. Where credit institutions are allowed under national law to operate under different trademarks as defined in Article 2 of Directive 2008/95/EC of the European Parliament and of the Council, the Member State shall ensure that depositors are informed clearly that the credit institution operates under different trademarks and that the coverage level laid down in Article 6(1), (2) and (3) of this Directive applies to the aggregated deposits the depositor holds with the credit institution. That information shall be included in the depositor information referred to in Article 16 of, and Annex I to, this Directive.

1. DGSs shall ensure that the repayable amount is available within seven working days of the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1).

2. However, Member States may, for a transitional period until 31 December 2023, establish the following repayment periods of up to:

(a) 20 working days until 31 December 2018;

(b) 15 working days from 1 January 2019 until 31 December 2020;

(c) 10 working days from 1 January 2021 until 31 December 2023.

3. Member States may decide that deposits referred to in Article 7(3) are subject to a longer repayment period, which does not exceed three months from the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1).

4. During the transitional period until 31 December 2023, where DGSs cannot make the repayable amount available within seven working days they shall ensure that depositors have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request.

DGSs shall only grant access to the appropriate amount as referred to in the first subparagraph on the basis of data provided by the DGS or the credit institution.

The appropriate amount as referred to in the first subparagraph shall be deducted from the repayable amount as referred to in Article 7.

5. Repayment as referred to in paragraphs 1 and 4 may be deferred where:

(a) it is uncertain whether a person is entitled to receive repayment or the deposit is subject to legal dispute;

(b) the deposit is subject to restrictive measures imposed by national governments or international bodies;

(c) by way of derogation from paragraph 9 of this Article there has been no transaction relating to the deposit within the last 24 months (the account is dormant);

(d) the amount to be repaid is deemed to be part of a temporary high balance as defined in Article 6(2); or

(e) the amount to be repaid is to be paid out by the DGS of the host Member State in accordance with Article 14(2).

6. The repayable amount shall be made available without a request to a DGS being necessary. For that purpose, the credit institution shall transmit the necessary information on deposits and depositors as soon as requested by the DGS.

7. Any correspondence between the DGS and the depositor shall be drawn up:

(a) in the official language of the Union institutions that is used by the credit institution holding the covered deposit when writing to the depositor; or

(b) in the official language or languages of the Member State in which the covered deposit is located.

If a credit institution operates directly in another Member State without having established branches, the information shall be provided in the language that was chosen by the depositor when the account was opened.

8. Notwithstanding the time limit laid down in paragraph 1 of this Article, where a depositor or any person entitled to or interested in sums held in an account has been charged with an offence arising out of or in relation to money laundering as defined in Article 1(2) of Directive 2005/60/EC, the DGS may suspend any payment relating to the depositor concerned, pending the judgment of the court.

9. No repayment shall be made where there has been no transaction relating to the deposit within the last 24 months and the value of the deposit is lower than the administrative costs that would be incurred by the DGS in making such a repayment.

1. Member States shall ensure that the depositors’ rights to compensation may be the subject of an action against the DGS.

2. Without prejudice to rights which it may have under national law, the DGS that makes payments under guarantee within a national framework shall have the right of subrogation to the rights of depositors in winding up or reorganisation proceedings for an amount equal to their payments made to depositors. Where a DGS makes payments in the context of resolution proceedings, including the application of resolution tools or the exercise of resolution powers in accordance with Article 11, the DGS shall have a claim against the relevant credit institution for an amount equal to its payments. That claim shall rank at the same level as covered deposits under national law governing normal insolvency proceedings as defined in Directive 2014/59/EU.

3. Member States may limit the time in which depositors whose deposits were not repaid or acknowledged by the DGS within the deadlines set out in Article 8(1) and (3) can claim the repayment of their deposits.

1. Member States shall ensure that DGSs have in place adequate systems to determine their potential liabilities. The available financial means of DGSs shall be proportionate to those liabilities.

DGSs shall raise the available financial means by contributions to be made by their members at least annually. This shall not prevent additional financing from other sources.

2. Member States shall ensure that, by 3 July 2024, the available financial means of a DGS shall at least reach a target level of 0,8 % of the amount of the covered deposits of its members.

Where the financing capacity falls short of the target level, the payment of contributions shall resume at least until the target level is reached again.

If, after the target level has been reached for the first time, the available financial means have been reduced to less than two-thirds of the target level, the regular contribution shall be set at a level allowing the target level to be reached within six years.

The regular contribution shall take due account of the phase of the business cycle, and the impact procyclical contributions may have when setting annual contributions in the context of this Article.

Member States may extend the initial period referred to in the first subparagraph for a maximum of four years if the DGS has made cumulative disbursements in excess of 0,8 % of covered deposits.

3. The available financial means to be taken into account in order to reach the target level may include payment commitments. The total share of payment commitments shall not exceed 30 % of the total amount of available financial means raised in accordance with this Article.

In order to ensure consistent application of this Directive, EBA shall issue guidelines on payment commitments.

4. Notwithstanding paragraph 1 of this Article, a Member State may, for the purpose of fulfilling its obligations thereunder, raise the available financial means through the mandatory contributions paid by credit institutions to existing schemes of mandatory contributions established by a Member State in its territory for the purpose of covering the costs related to systemic risk, failure, and resolution of institutions.

DGSs shall be entitled to an amount equal to the amount of such contributions up to the target level set out in paragraph 2 of this Article, which the Member State will make immediately available to those DGSs upon request, for use exclusively for the purposes provided for in Article 11.

DGSs are entitled to that amount only if the competent authority considers that they are unable to raise extraordinary contributions from their members. DGSs shall repay that amount through contributions from their members in accordance with Article 10(1) and (2).

5. Contributions to resolution financing arrangements under Title VII of Directive 2014/59/EU, including available financial means to be taken into account in order to reach the target level of the resolution financing arrangements under Article 102(1) of Directive 2014/59/EU, shall not count towards the target level.

6. By way of derogation from paragraph 2, Member States may, where justified and upon approval of the Commission, authorise a minimum target level lower than the target level specified in paragraph 2, provided that the following conditions are met:

(a) the reduction is based on the assumption that it is unlikely that a significant share of available financial means will be used for measures to protect covered depositors, other than as provided for in Article 11(2) and (6); and

(b) the banking sector in which the credit institutions affiliated to the DGS operate is highly concentrated with a large quantity of assets held by a small number of credit institutions or banking groups, subject to supervision on a consolidated basis which, given their size, are likely in case of failure to be subject to resolution proceedings.

That reduced target level shall not be lower than 0,5 % of covered deposits.

7. The available financial means of DGSs shall be invested in a low-risk and sufficiently diversified manner.

8. If the available financial means of a DGS are insufficient to repay depositors when deposits become unavailable, its members shall pay extraordinary contributions not exceeding 0,5 % of their covered deposits per calendar year. DGSs may in exceptional circumstances and with the consent of the competent authority require higher contributions.

The competent authority may defer, in whole or in part, a credit institution's payment of extraordinary ex-post contributions to the DGS if the contributions would jeopardise the liquidity or solvency of the credit institution. Such deferral shall not be granted for a longer period than six months but may be renewed upon the request of the credit institution. The contributions deferred pursuant to this paragraph shall be paid when such payment no longer jeopardises the liquidity or solvency of the credit institution.

9. Member States shall ensure that DGSs have in place adequate alternative funding arrangements to enable them to obtain short-term funding to meet claims against those DGSs.

10. Member States shall, by 31 March each year, inform EBA of the amount of covered deposits in their Member State and of the amount of the available financial means of their DGSs on 31 December of the preceding year.

1. The financial means referred to in Article 10 shall be primarily used in order to repay depositors pursuant to this Directive.

2. The financial means of a DGS shall be used in order to finance the resolution of credit institutions in accordance with Article 109 of Directive 2014/59/EU. The resolution authority shall determine, after consulting the DGS, the amount by which the DGS is liable.

3. Member States may allow a DGS to use the available financial means for alternative measures in order to prevent the failure of a credit institution provided that the following conditions are met:

(a) the resolution authority has not taken any resolution action under Article 32 of Directive 2014/59/EU;

(b) the DGS has appropriate systems and procedures in place for selecting and implementing alternative measures and monitoring affiliated risks;

(c) the costs of the measures do not exceed the costs of fulfilling the statutory or contractual mandate of the DGS;

(d) the use of alternative measures by the DGS is linked to conditions imposed on the credit institution that is being supported, involving at least more stringent risk monitoring and greater verification rights for the DGS;

(e) the use of alternative measures by the DGS is linked to commitments by the credit institution being supported with a view to securing access to covered deposits;

(f) the ability of the affiliated credit institutions to pay the extraordinary contributions in accordance with paragraph 5 of this Article is confirmed in the assessment of the competent authority.

The DGS shall consult the resolution authority and the competent authority on the measures and the conditions imposed on the credit institution.

4. Alternative measures as referred to in paragraph 3 of this Article shall not be applied where the competent authority, after consulting the resolution authority, considers the conditions for resolution action under Article 27(1) of Directive 2014/59/EU to be met.

5. If available financial means are used in accordance with paragraph 3 of this Article, the affiliated credit institutions shall immediately provide the DGS with the means used for alternative measures, where necessary in the form of extraordinary contributions, where:

(a) the need to reimburse depositors arises and the available financial means of the DGS amount to less than two-thirds of the target level;

(b) the available financial means fall below 25 % of the target level.

6. Member States may decide that the available financial means may also be used to finance measures to preserve the access of depositors to covered deposits, including transfer of assets and liabilities and deposit book transfer, in the context of national insolvency proceedings, provided that the costs borne by the DGS do not exceed the net amount of compensating covered depositors at the credit institution concerned.

1. Members States may allow DGSs to lend to other DGSs within the Union on a voluntary basis, provided that the following conditions are met:

(a) the borrowing DGS is not able to fulfil its obligations under Article 9(1) because of a lack of available financial means as referred to in Article 10;

(b) the borrowing DGS has made recourse to extraordinary contributions referred in Article 10(8);

(c) the borrowing DGS undertakes the legal commitment that the borrowed funds will be used in order to pay claims under Article 9(1);

(d) the borrowing DGS is not currently subject to an obligation to repay a loan to other DGSs under this Article;

(e) the borrowing DGS states the amount of money requested;

(f) the total amount lent does not exceed 0,5 % of covered deposits of the borrowing DGS;

(g) the borrowing DGS informs EBA without delay and states the reasons why the conditions set out in this paragraph are fulfilled and the amount of money requested.

2. The loan shall be subject to the following conditions:

(a) the borrowing DGS must repay the loan within five years. It may repay the loan in annual instalments. Interest shall be due only at the time of repayment;

(b) the interest rate set must be at least equivalent to the marginal lending facility rate of the European Central Bank during the credit period;

(c) the lending DGS must inform EBA of the initial interest rate and the duration of the loan.

3. Member States shall ensure that the contributions levied by the borrowing DGS are sufficient to reimburse the amount borrowed and to re-establish the target level as soon as possible.

1. The contributions to DGSs referred to in Article 10 shall be based on the amount of covered deposits and the degree of risk incurred by the respective member.

Member States may provide for lower contributions for low-risk sectors which are regulated under national law.

Member States may decide that members of an IPS pay lower contributions to the DGS.

Member States may allow the central body and all credit institutions permanently affiliated to the central body as referred to in Article 10(1) of Regulation (EU) No 575/2013 to be subject as a whole to the risk weight determined for the central body and its affiliated institutions on a consolidated basis.

Member States may decide that credit institutions pay a minimum contribution, irrespective of the amount of their covered deposits.

2. DGSs may use their own risk-based methods for determining and calculating the risk-based contributions by their members. The calculation of contributions shall be proportional to the risk of the members and shall take due account of the risk profiles of the various business models. Those methods may also take into account the asset side of the balance sheet and risk indicators, such as capital adequacy, asset quality and liquidity.

Each method shall be approved by the competent authority in cooperation with the designated authority. EBA shall be informed about the methods approved.

3. In order to ensure consistent application of this Directive, EBA shall, by 3 July 2015, issue guidelines pursuant to Article 16 of Regulation (EU) No 1093/2010 to specify methods for calculating the contributions to DGSs in accordance with paragraphs 1 and 2 of this Article.

In particular, it shall include a calculation formula, specific indicators, risk classes for members, thresholds for risk weights assigned to specific risk classes, and other necessary elements.

By 3 July 2017 and at least every five years thereafter, EBA shall conduct a review of the guidelines on risk-based or alternative own-risk-based methods applied by DGSs.

1. DGSs shall cover the depositors at branches set up by their member credit institutions in other Member States.

2. Depositors at branches set up by credit institutions in another Member State shall be repaid by a DGS in the host Member State on behalf of the DGS in the home Member State. The DGS of the host Member State shall make repayments in accordance with the instructions of the DGS of the home Member State. The DGS of the host Member State shall not bear any liability with regard to acts done in accordance with the instructions given by DGS of the home Member State. The DGS of the home Member State shall provide the necessary funding prior to payout and shall compensate the DGS of the host Member State for the costs incurred.

The DGS of the host Member State shall also inform the depositors concerned on behalf of the DGS of the home Member State and shall be entitled to receive correspondence from those depositors on behalf of the DGS of the home Member State.

3. If a credit institution ceases to be member of a DGS and joins another DGS, the contributions paid during the 12 months preceding the end of the membership, with the exception of the extraordinary contributions under Article 10(8), shall be transferred to the other DGS. This shall not apply if a credit institution has been excluded from a DGS pursuant to Article 4(5).

If some of the activities of a credit institution are transferred to another Member State and thus become subject to another DGS, the contributions of that credit institution paid during the 12 months preceding the transfer, with the exception of the extraordinary contributions in accordance with Article 10(8), shall be transferred to the other DGS in proportion to the amount of covered deposits transferred.

4. Member States shall ensure that DGS of the home Member State exchange information referred to under Article 4(7) or (8) and (10) with those in host Member States. The restrictions set out in that Article shall apply.

If a credit institution intends to transfer from one DGS to another in accordance with this Directive, it shall give at least six months’ notice of its intention to do so. During that period, the credit institution shall remain under the obligation to contribute to its original DGS in accordance with Article 10 both in terms of ex-ante and ex-post financing.

5. In order to facilitate an effective cooperation between DGSs, with particular regard to this Article and to Article 12, the DGSs, or, where appropriate, the designated authorities, shall have written cooperation agreements in place. Such agreements shall take into account the requirements laid down in Article 4(9).

The designated authority shall notify EBA of the existence and the content of such agreements and EBA may issue opinions in accordance with Article 34 of Regulation (EU) No 1093/2010. If designated authorities or DGSs cannot reach an agreement or if there is a dispute about the interpretation of an agreement, either party may refer the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010 and EBA shall act in accordance with that Article.

The absence of such agreements shall not affect the claims of depositors under Article 9(1) or of credit institutions under paragraph 3 of this Article.

6. Member States shall ensure that appropriate procedures are in place to enable DGSs to share information and communicate effectively with other DGSs, their affiliated credit institutions and the relevant competent and designated authorities within their own jurisdictions and with other agencies on a cross-border basis, where appropriate.

7. EBA and the competent and designated authorities shall cooperate with each other and exercise their powers in accordance with the provisions of this Directive and with Regulation (EU) No 1093/2010.

Member States shall inform the Commission and EBA of the identity of their designated authority by 3 July 2015.

8. EBA shall cooperate with the European Systemic Risk Board (ESRB), established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council on systemic risk analysis concerning DGSs.

1. Member States shall check that branches established in their territory by a credit institution which has its head office outside the Union have protection equivalent to that prescribed in this Directive.

If protection is not equivalent, Member States may, subject to Article 47(1) of Directive 2013/36/EU, stipulate that branches established by a credit institution which has its head office outside the Union must join a DGS in operation within their territories.

When performing the check provided for in the first subparagraph of this paragraph, Member states shall at least check that depositors benefit from the same coverage level and scope of protection as provided for in this Directive.

2. Each branch established by a credit institution which has its head office outside the Union and which is not a member of a DGS operating in a Member State shall provide all relevant information concerning the guarantee arrangements for the deposits of actual and intending depositors at that branch.

3. The information referred to in paragraph 2 shall be made available in the language that was agreed by the depositor and the credit institution when the account was opened or in the official language or languages of the Member State in which the branch is established in the manner prescribed by national law and shall be clear and comprehensible.

1. Member States shall ensure that credit institutions make available to actual and intending depositors the information necessary for the identification of the DGSs of which the institution and its branches are members within the Union. Member States shall ensure that credit institutions inform actual and intending depositors of the applicable exclusions from DGS protection.

2. Before entering into a contract on deposit-taking, depositors shall be provided with the information referred to in paragraph 1. They shall acknowledge the receipt of that information. The template set out in Annex I shall be used for that purpose.

3. Confirmation that the deposits are eligible deposits shall be provided to depositors on their statements of account including a reference to the information sheet set out in Annex I. The website of the relevant DGS shall be indicated on the information sheet. The information sheet set out in Annex I shall be provided to the depositor at least annually.

The website of the DGS shall contain the necessary information for depositors, in particular information concerning the provisions regarding the process for and conditions of deposit guarantees as envisaged under this Directive.

4. The information provided for in paragraph 1 shall be made available in the manner prescribed by national law in the language that was agreed by the depositor and the credit institution when the account was opened or in the official language or languages of the Member State in which the branch is established.

5. Member States shall limit the use in advertising of the information referred to in paragraphs 1, 2 and 3 to a factual reference to the DGS guaranteeing the product to which the advertisement refers and to any additional information required by national law.

Such information may extend to the factual description of the functioning of the DGS but shall not contain a reference to unlimited coverage of deposits.

6. In the case of a merger, conversion of subsidiaries into branches or similar operations, depositors shall be informed at least one month before the operation takes legal effect unless the competent authority allows a shorter deadline on the grounds of commercial secrecy or financial stability.

Depositors shall be given a three-month period following notification of the merger or conversion or similar operation to withdraw or transfer to another credit institution, without incurring any penalty, their eligible deposits including all accrued interest and benefits in so far as they exceed the coverage level pursuant to Article 6 at the time of the operation.

7. Member States shall ensure that if a credit institution withdraws or is excluded from a DGS, the credit institution shall inform its depositors within one month of such withdrawal or exclusion.

8. If a depositor uses internet banking, the information required to be disclosed by this Directive may be communicated by electronic means. Where the depositor so requests, it shall be communicated on paper.

1. Member States shall ensure that when notifying EBA of authorisations in accordance with Article 20(1) of Directive 2013/36/EU, competent authorities shall indicate of which DGS each credit institution is a member.

2. When publishing and updating the list of authorised credit institutions in accordance with Article 20(2) of Directive 2013/36/EU, EBA shall indicate of which DGS each credit institution is a member.

1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article.

2. The power to adopt delegated acts referred to in Article 6(7) shall be conferred on the Commission for an indeterminate period of time.

3. The delegation of power referred to in Article 6(7) may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.

5. A delegated act adopted pursuant to Article 6(7) shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of three months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by three months at the initiative of the European Parliament or of the Council.

1. Where certain deposits or categories of deposits or other instruments cease to be covered wholly or partially by DGSs after the transposition of this Directive or Directive 2009/14/EC into national law, Member States may allow deposits and other instruments which have an initial maturity date to be covered until their initial maturity date if they were paid in or issued before 2 July 2014.

2. Member States shall ensure that depositors are informed about the deposits or categories of deposits or other instruments which will no longer be covered by a DGS from 3 July 2015.

3. Until the target level has been reached for the first time, Member States may apply the thresholds in Article 11(5) in relation to the available financial means.

4. By way of derogation from Article 6(1), Member States which, on 1 January 2008, provided for a coverage level of between EUR 100 000 and EUR 300 000, may reapply that higher coverage level until 31 December 2018. In that case, the target level and the contributions of the credit institutions shall be adjusted accordingly.

5. By 3 July 2019, the Commission shall submit a report, and, if appropriate, a legislative proposal to the European Parliament and the Council setting out how DGSs operating in the Union may cooperate through a European scheme to prevent risks arising from cross-border activities and protect deposits from such risks.

6. By 3 July 2019, the Commission, supported by EBA, shall submit to the European Parliament and to the Council a report on the progress towards the implementation of this Directive. That report should, in particular, address:

(a) the target level on the basis of covered deposits, with an assessment of the appropriateness of the percentage set, taking into account the failure of credit institutions in the Union in the past;

(b) the impact of alternative measures used in accordance with Article 11(3) on the protection of the depositors and consistency with the orderly winding up proceedings in the banking sector;

(c) the impact on the diversity of banking models;

(d) the adequacy of the current coverage level for depositors; and

(e) whether the matters referred to in this subparagraph have been dealt with in a manner that maintains the protection of depositors.

By 3 July 2019, EBA shall report to the Commission on calculation models and their relevance to the commercial risk of the members. When reporting, EBA shall take due account of the risk profiles of the various business models.

1. Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with Articles 1 to 4, points (d) to (k) of Article 5(1), Article 5(2), (3) and (4) Article 6(2) to (7), Article 7(4) to (9), Article 8(1), (2), (3), (5), (6), (7) and (9) Article 9(2) and (3), Articles 10 to 16, 18 and 19 and Annex I by 3 July 2015. They shall forthwith communicate to the Commission the text of those measures.

Member States shall bring into force the laws, regulations and administrative provisions necessary for them to comply with Article 8(4) by 31 May 2016.

If, after a thorough examination, appropriate authorities establish that a DGS is not yet in a position to comply with Article 13 by 3 July 2015, the relevant laws, regulations and administrative provisions shall be brought into force by 31 May 2016.

When Member States adopt those measures, they shall contain a reference to this Directive or shall be accompanied by such a reference on the occasion of their official publication. They shall also include a statement that references in existing laws, regulations and administrative provisions to the directives repealed by this Directive shall be construed as references to this Directive. Member States shall determine how such reference is to be made and how that statement is to be formulated.

2. Member States shall communicate to the Commission the text of the main provisions of national law which they adopt in the field covered by this Directive.

Directive 94/19/EC as amended by the Directives listed in Annex II is repealed with effect from 4 July 2015 without prejudice to the obligations of the Member States relating to the time limits for transposition into national law and the dates of application of the Directives set out in Annex II.

References to the repealed Directives shall be construed as references to this Directive and shall be read in accordance with the correlation table in Annex III.

This Directive shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. Points (a), (b) and (c) of Article 5(1), Article 6(1), Article 7(1), (2) and (3), Article 8(8), Article 9(1) and Article 17 shall apply from 4 July 2015.

This Directive is addressed to the Member States.

(1) Scheme responsible for the protection of your deposit

[Only where applicable:] Your deposit is covered by a contractual scheme officially recognised as a Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits would be repaid up to EUR 100 000 [replace by adequate amount if currency not EUR].

[Only where applicable:] Your credit institution is part of an Institutional Protection Scheme officially recognised as a Deposit Guarantee Scheme. This means that all institutions that are members of this scheme mutually support each other in order to avoid insolvency. If insolvency should occur, your deposits would be repaid up to EUR 100 000 [replace by adequate amount if currency not EUR].

[Only where applicable:] Your deposit is covered by a statutory Deposit Guarantee Scheme and a contractual Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits would in any case be repaid up to EUR 100 000 [replace by adequate amount if currency not EUR].

[Only where applicable:] Your deposit is covered by a statutory Deposit Guarantee Scheme. In addition, your credit institution is part of an Institutional Protection Scheme in which all members mutually support each other in order to avoid insolvency. If insolvency should occur, your deposits would be repaid up to EUR 100 000 [replace by adequate amount if currency not EUR] by the Deposit Guarantee Scheme.

(2) General limit of protection

If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum EUR 100 000 [replace by adequate amount if currency not EUR] per credit institution. This means that all deposits at the same credit institution are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with EUR 90 000 and a current account with EUR 20 000, he or she will only be repaid EUR 100 000.

[Only where applicable:] This method will also be applied if a credit institution operates under different trademarks. The [insert name of the account-holding credit institution] also trades under [insert all other trademarks of the same credit institution]. This means that all deposits with one or more of these trademarks are in total covered up to EUR 100 000.

(3) Limit of protection for joint accounts

In case of joint accounts, the limit of EUR 100 000 applies to each depositor.

[Only where applicable:] However, deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature, without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of EUR 100 000 [replace by adequate amount if currency not EUR].

In some cases [insert cases defined in national law] deposits are protected above EUR 100 000 [replace by adequate amount if currency not EUR]. More information can be obtained under [insert the website of the relevant DGS].

(4) Reimbursement

The responsible Deposit Guarantee Scheme is [insert name and address, telephone, e-mail and website]. It will repay your deposits (up to EUR 100 000 [replace by adequate amount if currency not EUR]) within [insert repayment period as is required by national law] at the latest, from [31 December 2023] within [7 working days].

[Add information on emergency/interim payout if repayable amount(s) are not available within 7 working days.]

If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under [insert website of the responsible DGS].

Other important information

In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your credit institution will also inform you on request whether certain products are covered or not. If deposits are covered, the credit institution shall also confirm this on the statement of account.

(1) Article 1 is amended as follows:

(a) paragraph 1 is replaced by the following:

‘1. This Directive lays down rules and procedures relating to the establishment and the functioning of deposit guarantee schemes (DGSs), the coverage and repayment of deposits, and the safeguards for the use of DGS funds for measures other than the repayment of deposits to ensure the access of depositors to their deposits.’;

(b) in paragraph 2, point (d) is replaced by the following:

‘(d) credit institutions, and branches of credit institutions that have their head offices outside the Union, that are affiliated to the schemes referred to in point (a), (b) or (c) of this paragraph.’;

(2) Article 2 is amended as follows:

(a) paragraph 1 is amended as follows:

(i) in point (3), the introductory wording is replaced by the following:

‘(3) “deposit” means a credit balance which results from funds left in an account or from temporary situations deriving from normal banking transactions habitually carried out by credit institutions in the course of their business, and which a credit institution is required to repay under the legal and contractual conditions applicable, including a fixed-term deposit and a savings deposit, but excluding a credit balance where:’;

(ii) in point (13), the introductory wording is replaced by the following:

‘(13) “payment commitment” means an irrevocable, fully collateralised obligation of a credit institution to pay a DGS a monetary amount when called by that DGS, and where the collateral:’;

(iii) the following points are added:

‘(19) “resolution authority” means a resolution authority as defined in Article 2(1), point (18), of Directive 2014/59/EU;

(20) “client funds deposits” means funds that account holders that are financial institutions as defined in Article 4(1), point (26), of Regulation (EU) No 575/2013 deposit in the course of their business with a credit institution for the account of their clients;

(21) “Union State aid framework” means the framework established by Articles 107, 108 and 109 of the Treaty on the Functioning of the European Union (TFEU) and regulations and all Union acts, including guidelines, communications and notices, made or adopted pursuant to Article 108(4) or Article 109 TFEU;

(22) “money laundering” means money laundering as defined in Article 2(1), point (1), of Regulation (EU) 2024/1624 of the European Parliament and of the Council (*);

(23) “terrorist financing” means terrorist financing as defined in Article 2(1), point (2), of Regulation (EU) 2024/1624.

(*) Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (OJ L, 2024/1624, 19.6.2024, ELI: http://data.europa.eu/eli/reg/2024/1624/oj).’;

(b) paragraph 3 is replaced by the following:

‘3. Shares in Irish building societies, apart from those of a capital nature covered by Article 5(1), point (b), shall be treated as deposits.’;

(3) Article 4 is amended as follows:

(a) paragraph 4 is replaced by the following:

‘4. Member States shall ensure that where a credit institution does not comply with its obligations as a member of a DGS that DGS immediately notifies the designated authority and the competent authority of that credit institution thereof. Member States shall ensure that that competent authority, in cooperation with that designated authority and, where relevant, with that DGS, promptly takes all appropriate measures, including, where necessary, the imposition of penalties, to ensure that the credit institution concerned complies with its obligations as a member of a DGS.

For the purposes of the measures referred to in the first subparagraph, Member States shall, where relevant, ensure that competent authorities are able to use the supervisory powers laid down in Title VII, Chapter 1, Section IV, of Directive 2013/36/EU.

Member States shall lay down rules on penalties applicable in the event of infringements by credit institutions of the obligations of a DGS member. Such penalties shall be effective, proportionate and dissuasive.’;

(b) the following paragraph is inserted:

‘4a. Member States shall ensure that where a credit institution fails to pay the contributions referred to in Article 10 and Article 11(4) within the timeframe specified by the DGS, that DGS or, where relevant, the designated authority concerned shall, for the period of the delay, charge the statutory interest rate on the amount due.’;

(c) paragraphs 5 and 6 are replaced by the following:

‘5. Member States shall ensure that the DGS informs the designated authority and the competent authority concerned where the measures referred to in paragraphs 4 and 4a fail to restore compliance by the credit institution with its obligations as a DGS member. Member States shall ensure that the DGS or, where appropriate, the designated authority concerned assesses whether that credit institution still fulfils the conditions for continued membership of that DGS and informs the competent authority concerned of the outcome of that assessment.

6. Member States shall ensure that where a competent authority decides to withdraw an authorisation in accordance with Article 18 of Directive 2013/36/EU, the credit institution concerned ceases to be a member of its DGS. Member States shall ensure that deposits held at that credit institution on the date on which it ceased to be a member of the DGS following the withdrawal of authorisation continue to be covered by that DGS.’;

(d) in paragraph 7, the following subparagraph is added:

‘Where the operation of the DGS is administered by a private entity, the designated authorities shall have the necessary enforcement powers to remedy infringements of this Directive by that DGS, including powers to impose penalties or other administrative measures.’;

(e) paragraph 8 is deleted;

(f) the following paragraph is added:

‘13. By 11 May 2029, EBA shall develop guidelines on the scope, contents and procedures of the stress tests referred to in paragraph 10.’;

(4) Article 5 is amended as follows:

(a) paragraph 1 is amended as follows:

(i) point (c) is replaced by the following:

‘(c) deposits arising out of transactions in connection with which there has been a criminal conviction for money laundering or terrorist financing;’;

(ii) point (d) is replaced by the following:

‘(d) deposits made by financial institutions, as defined in Article 4(1), point (26), of Regulation (EU) No 575/2013, on their own behalf and for their own account;’;

(iii) point (e) is deleted;

(iv) point (f) is replaced by the following:

‘(f) deposits the holder of which has never been identified pursuant to Article 20 of Regulation (EU) 2024/1624, where those deposits have become unavailable, except where a holder requests payout and neither the credit institution or the DGS can prove that the lack of identification was caused by the account holder’s actions or failure to act and provided that the identity of the depositor has been verified before the payout;’;

(v) point (j) is replaced by the following:

‘(j) deposits by central or state governments, as defined in points 2.114 and 2.115 of Annex A to Regulation (EU) No 549/2013 of the European Parliament and of the Council (*), with the exception of deposits by non-profit institutions controlled by central government or state governments;

(*) Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (OJ L 174, 26.6.2013, p. 1, ELI: http://data.europa.eu/eli/reg/2013/549/oj).’;

(vi) the following point is added:

‘(l) deposits meeting the conditions referred to in Article 45b(1a), points (a) to (d), of Directive 2014/59/EU, including deposits with a residual maturity of less than one year.’;

(b) paragraph 2 is replaced by the following:

‘2. By way of derogation from paragraph 1 of this Article, Member States may decide that deposits held by personal pension schemes and occupational pension schemes of small or medium-sized enterprises are included up to the coverage level laid down in Article 6(1).’;

(5) Article 6 is amended as follows:

(a) paragraph 2 is amended as follows:

(i) the introductory wording is replaced by the following:

‘In addition to paragraph 1, Member States shall ensure that the following deposits are protected to an amount of not less than EUR 500 000 for six months after that amount has been credited or from the moment when such deposits become legally transferable:’;

(ii) point (a) is replaced by the following:

‘(a) deposits resulting from real estate transactions by a natural person relating to private residential properties and deposits intended for such transactions, provided that those transactions have been concluded or are intended to be concluded in the short term, and provided that that natural person can provide documents proving that before the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or on which a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b), such transaction had been concluded or was intended to be concluded in the short term;’;

(iii) the following subparagraphs are added:

‘For the purposes of point (a) of the first subparagraph, Member States shall ensure that deposits are protected to a maximum amount of EUR 2 500 000.

For the purposes of point (a) of the first subparagraph, Member States shall define “short term” in national law.’;

(b) the following paragraph is inserted:

‘2a. Member States shall ensure that the coverage level laid down in paragraph 2 is supplementary to the coverage level laid down in paragraph 1.’;

(c) paragraph 6 is replaced by the following:

‘6. The Commission shall review periodically, and at least once every five years, the amounts referred to in paragraphs 1 and 2. If appropriate, the Commission shall submit to the European Parliament and to the Council a proposal for a legislative act to adjust the amount referred to in paragraph 1, taking account in particular of developments in the banking sector and the economic and monetary situation in the Union, as well as to adjust the amounts referred to in paragraph 2, taking into account the evolution of real estate prices in different Member States, and the need to ensure proportionality and a level playing field across the Union.’;

(6) Article 7 is amended as follows:

(a) Paragraph 3 is replaced by the following:

‘3. Where the account holder is not absolutely entitled to the sums held in an account, the person who is absolutely entitled shall be covered by the guarantee, provided that that person has been identified or is identifiable before the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b).

Without prejudice to Article 8c, in the case of funds held by an account holder on behalf of an absolutely entitled person in a separate account for professional purposes as defined by national law, and where those funds are insulated in accordance with national law in the interest of that person against the claims of other creditors of the account holder, the DGS shall not, when determining the covered amount due to the absolutely entitled person, take into account other deposits placed by that person with the same credit institution if that person is identified by that credit institution.

Member States shall ensure that DGSs may repay covered deposits either to the account holder for the benefit of each absolutely entitled person, or to the absolutely entitled person directly.’;

(b) the first subparagraph of paragraph 5 is replaced by the following:

‘5. Member States may decide that the liabilities of the depositor to the credit institution that have fallen due before the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b), are deducted from the total amount of that depositor’s eligible deposits to the extent that the set-off is possible under the statutory and contractual provisions governing the contract between the credit institution and the depositor.’;

(c) paragraph 7 is replaced by the following:

‘7. Member States shall ensure that the DGS repays the principal amount at par and the interest on deposits which has accrued until the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b). The coverage level laid down in Article 6(1) or, in the circumstances referred to in Article 6(2) the coverage level laid down in that paragraph, shall not be exceeded.’;

(d) in paragraph 9, the last sentence is replaced by the following:

‘That information shall be included in the depositor information referred to in Article 16 of this Directive.’;

(7) the following article is inserted:

‘Article 7a

Burden of proof for deposit eligibility and entitlement

Member States shall ensure that, in the cases referred to in Article 6(2) and Article 7(3), a depositor or, where appropriate, an account holder, proves that the deposits concerned meet the conditions of Article 6(2) or, alternatively, proves an entitlement to the deposits in the circumstances referred to in Article 7(3).’;

(8) Article 8 is amended as follows:

(a) paragraph 1 is replaced by the following:

‘1. DGSs shall ensure that the repayable amount is available as soon as possible and in any event within seven working days of the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b).’;

(b) paragraph 2 is deleted;

(c) paragraph 3 is replaced by the following:

‘3. By way of derogation from paragraph 1, Member States shall allow DGSs to apply a longer period for repayment of:

(a) the deposits referred to in Article 6(2) exceeding the amount defined in Article 6(1); and

(b) the deposits referred to in Article 7(3) and Article 8b where the person who is absolutely entitled to those deposits has not been identified when those deposits become unavailable.

That longer period shall not exceed 20 working days from the date on which those DGSs receive the complete information or documentation they have requested in order to examine the claims and to verify that the conditions for repayment are met.’;

(d) paragraph 4 is deleted;

(e) paragraph 5 is amended as follows:

(i) point (b) is deleted;

(ii) point (c) is replaced by the following:

‘(c) by way of derogation from paragraph 9, there has been no transaction relating to the deposit within the last 24 months, and the account is therefore dormant, except where a depositor also has deposits on another account with the same credit institution that is not dormant; or’;

(iii) point (d) is deleted;

(f) the following paragraph is inserted:

‘5a. Without prejudice to Article 9(3), where a deposit is subject to restrictive measures adopted by the Union on the basis of Article 29 of the Treaty on European Union (TEU) or Article 215 TFEU (“Union restrictive measures”), Member States shall ensure that DGSs suspend the repayment of the repayable amount for the duration of such measures.

Member States shall ensure that credit institutions earmark deposits subject to Union restrictive measures in a way that allows immediate identification for the purpose of the first subparagraph of this paragraph.’;

(g) paragraph 8 is deleted;

(h) paragraph 9 is replaced by the following:

‘9. Member States shall ensure that where there has been no transaction relating to the deposit during the last 24 months, a DGS may set a threshold concerning the administrative costs that would be incurred by that DGS in making such a repayment. The DGS shall not be obliged to take active steps to repay depositors below that threshold. However, Member States shall ensure that the DGS repays depositors below that threshold where so requested by those depositors.’;

(9) the following Articles are inserted:

‘Article 8a

Repayment of deposits exceeding EUR 10 000

Member States shall ensure, where the amounts to be repaid exceed EUR 10 000, that DGSs repay, where possible, depositors via credit transfers as defined in Article 4, point (24), of Directive (EU) 2015/2366 of the European Parliament and of the Council (*) or, where such credit transfers are not possible, via means of payment, other than payment in cash, that ensure the traceability of funds.

Article 8b

Coverage of client funds deposits

1. Member States shall ensure that client funds deposits are covered by DGSs where all of the following apply:

(a) such deposits are placed on behalf and for the account of clients who are eligible for protection in accordance with Article 5(1);

(b) such deposits are made on segregated accounts in compliance with safeguarding requirements laid down in Union law regulating the activities of the entities referred to in Article 5(1), point (d);

(c) the clients referred to in point (a) of this paragraph are identified or identifiable by the financial institution holding the account on behalf of those clients prior to the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b).

2. Member States shall ensure that the coverage level referred to in Article 6(1) applies to each of the clients that meet the condition laid down in paragraph 1, point (c), of this Article. By way of derogation from Article 7(1), when determining the repayable amount for an individual client, the DGS shall not take into account the aggregate amount of deposits placed by that client with the same credit institution.

3. Member States shall ensure that DGSs repay covered client funds deposits either to the account holder for the benefit of each client, or to the client directly.

4. EBA shall develop draft regulatory technical standards to specify:

(a) the technical details related to the identification of clients for repayment in accordance with Article 8;

(b) the criteria under and circumstances in which repayment is to be made to the account holder for the benefit of each client or to the client directly;

(c) the rules to avoid multiple claims for payout to the same beneficiary.

When developing the draft regulatory technical standards referred to in the first subparagraph of this paragraph, EBA shall take into account the following:

(a) the specificities of the business model of the different types of financial institutions referred to in Article 5(1), point (d);

(b) the specific requirements of the applicable Union law regulating the activities of the financial institutions referred to in Article 5(1), point (d), for the treatment of client funds.

EBA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 11 May 2027.

Power is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.

Article 8c

Suspension of repayments in the event of concerns about money laundering or terrorist financing

1. Member States shall ensure that the designated authority informs the DGS within 24 hours of the moment that the designated authority receives from a financial supervisor as defined in Article 2, point (1), of Directive (EU) 2024/1640 of the European Parliament and of the Council (**) the information referred to in Article 64(4) of that Directive. Member States shall ensure that the information exchanged between the designated authority and the DGS is limited to the information that is strictly necessary for the exercise of the DGS’ tasks and responsibilities under this Directive and that such exchange of information respects the requirements laid down in Directive 96/9/EC of the European Parliament and of the Council (***).

2. Member States shall ensure that the DGS suspends the repayment of the repayable amount where a depositor or any person entitled to sums held in his or her account has been charged with an offence arising out of, or in relation to, money laundering or terrorist financing, pending the judgment of the court. Member States shall establish a procedure which ensures that that information is communicated to the DGS in a timely manner.

3. Member States shall ensure that the DGS suspends the repayment of the repayable amount for the same period as that laid down in Article 24 of Directive (EU) 2024/1640 where it is informed by the credit institution or designated authority that the financial intelligence unit referred to in that Article has suspended a transaction, account or business relationship related to the concerned depositor.

4. Member States shall ensure that the DGS is not held liable for any suspension undertaken in accordance with paragraphs 2 and 3.

(*) Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35, ELI: http://data.europa.eu/eli/dir/2015/2366/oj).

(**) Directive (EU) 2024/1640 of the European Parliament and of the Council of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Directive(EU) 2019/1937, and amending and repealing Directive (EU) 2015/849 (OJ L, 2024/1640, 19.6.2024, ELI: http://data.europa.eu/eli/dir/2024/1640/oj).

(***) Directive 96/9/EC of the European Parliament and of the Council of 11 March 1996 on the legal protection of databases (OJ L 77, 27.3.1996, p. 20, ELI: http://data.europa.eu/eli/dir/1996/9/oj).’;

(10) in Article 9, paragraphs 2 and 3 are replaced by the following:

‘2. Without prejudice to rights they may have under national law, DGSs that make payments under guarantee within a national framework shall have the right of subrogation to the rights of depositors in winding-up or reorganisation proceedings for an amount equal to the payments made by those DGSs to those depositors. DGSs that make a contribution in the context of the resolution tools referred to in Article 37(3), point (a) or (b), of Directive 2014/59/EU, or in the context of measures taken in accordance with Article 11(5) of this Directive, shall have a claim in winding-up proceedings against the residual credit institution for an amount equal to their contribution. That claim shall rank at the same level as covered deposits under national law governing normal insolvency proceedings in accordance with Article 108(1) of Directive 2014/59/EU.

3. Member States shall ensure that depositors whose deposits have not been repaid or acknowledged by the DGS within the deadlines laid down in Article 8(1) and (3) can enter a claim against the DGS for the repayment of their deposits within five years of the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b).’;

(11) Article 10 is amended as follows:

(a) paragraph 2 is replaced by the following:

‘2. Member States shall ensure that, by 3 July 2024, the available financial means of a DGS shall at least reach a target level of 0,8 % of the amount of the covered deposits of its members.

For the calculation of the target level referred to in the first subparagraph, the reference period shall be between 31 December preceding the date by which the target level is to be reached and that date.

When determining whether the DGS has reached the target level referred to in the first subparagraph, Member States shall take into account only the available financial means directly contributed by, or recovered from, members to the DGS, net of administrative fees and charges. Those available financial means shall include investment income derived from funds contributed by members to the DGS and funds recovered by the DGS against its claims deriving from its interventions, but shall exclude repayments not claimed by eligible depositors during payout procedures and any debt liabilities due by the DGS. An outstanding loan claim to another DGS under Article 12 or an outstanding loan claim or means otherwise made available under Article 12a shall be included and counted exclusively towards that target level.

Where the financing capacity falls short of the target level, the payment of contributions shall resume at least until the target level is reached again.

Where the target level referred to in the first subparagraph of this paragraph has been reached for the first time and the available financial means, following either an increase of the amount of covered deposits or a disbursement of DGS funds in accordance with Article 8 or Article 11(2), (3) or (5), have been reduced to less than two-thirds of the target level, a DGS shall set the regular contribution at a level allowing for the target level to be reached within a period that shall not exceed six years.

Where the target level referred to in the first subparagraph has been reached for the first time and the available financial means have been reduced by less than one third of the target level, a DGS shall set the regular contribution at a level allowing for the target level to be reached within two years. A DGS may extend that period by one further year to ensure that the amount to be collected reaches an amount that is proportionate to the costs of collecting the contributions.

The regular contribution shall take due account of the phase of the business cycle, and the impact procyclical contributions may have when setting annual contributions in the context of this Article.

Member States may extend the initial period referred to in the first subparagraph for a maximum of four years if the DGS has made cumulative disbursements in excess of 0,8 % of covered deposits.’;

(b) paragraph 3 is replaced by the following:

‘3. The available financial means that the DGS takes into account in order to reach the target level referred to in paragraph 2 may include payment commitments payable within two working days of a request of the DGS. The total share of such payment commitments shall not exceed 30 % of the total amount of available financial means raised in accordance with paragraph 2.

EBA shall issue guidelines on payment commitments laying down criteria for the admissibility of those commitments.’;

(c) paragraph 4 is deleted;

(d) paragraph 7 is replaced by the following:

‘7. Member States shall ensure that DGSs, designated authorities, or competent authorities set the investment strategy for the available financial means of DGSs, and that that investment strategy complies with the principles of diversification and investment in low-risk assets. DGSs shall use derivatives only for risk management purposes, including managing market risk and liquidity risk.’;

(e) the following paragraph is inserted:

‘7a. Where DGSs are allowed to place all or part of their available financial means with their national central bank or national treasury, Member States shall ensure that those available financial means are separated from other funds for accounting purposes and that they are readily available for use by those DGSs in accordance with Articles 11 and 12 and Article 14(3).’;

(f) paragraph 9 is replaced by the following:

‘9. Member States shall ensure that DGSs have in place adequate alternative funding arrangements to enable them to obtain short-term funding to meet claims against those DGSs. Alternative funding arrangements financed through public funds shall only be used for the repayment under Article 8(1) and for the measures referred to in Article 11(2) as a last resort and shall be provided in the form of loans or guarantees. Alternative funding arrangements from public sources shall only be provided under the condition that the DGS makes the legal commitment to repay alternative funding arrangements financed or guaranteed through public funds and the agreed interest and fees within six years.

In extraordinary circumstances, where, in light of disbursements and recoveries during the repayment period, the competent authority assesses that the repayment could overburden the financing capacities of the remaining member institutions, the repayment period may be extended once by up to three years.’;

(g) paragraph 10 is deleted;

(h) the following paragraphs are added:

‘11. In the context of the measures referred to in Article 11(1), (2), (3) and (5), Member States may allow DGSs to use the funds originating from the alternative funding arrangements referred to in Article 10(9) which are not financed or guaranteed through public funds before using the available financial means and before collecting the extraordinary contributions referred to in Article 10(8).

12. EBA shall develop draft regulatory technical standards to specify:

(a) the methodology for the calculation of available financial means qualifying for the target level referred to in paragraph 2, including the delineation of the available financial means of DGSs and the categories of available financial means that derive from contributed funds;

(b) the details of the process to reach the target level referred to in paragraph 2 after a DGS has used available financial means in accordance with Article 11 or when the amount of covered deposits has increased.

EBA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 11 May 2028.

Power is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.

13. By 11 May 2028, EBA shall develop guidelines to assist DGSs with the diversification of their available financial means and on how DGSs can invest in low-risk assets applicable to the available financial means of DGSs.’;

(12) Article 11 is replaced by the following:

‘Article 11

Use of funds

1. Member States shall ensure that DGSs use the available financial means referred to in Article 10 primarily to secure repayments to depositors in accordance with Article 8.

2. Member States shall ensure that DGSs use the available financial means to finance the resolution of credit institutions in accordance with Article 109 of Directive 2014/59/EU.

3. Member States may allow DGSs to use the available financial means for preventive measures where all of the following apply:

(a) the resolution authority has not taken a decision as referred to in Article 82(2) of Directive 2014/59/EU;

(b) all of the conditions laid down in Articles 11a and 11b are met.

4. Where available financial means have been used for preventive measures as referred to in Article 11a, the affiliated credit institutions shall immediately provide the DGS with the means used for such measures, where necessary in the form of extraordinary contributions, where either of the following applies:

(a) the need to repay depositors or to intervene in resolution arises and the available financial means of the DGS amount to less than two-thirds of the target level;

(b) the available financial means of the DGS fall below 25 % of the target level.

5. Where a credit institution is wound up in accordance with Article 32b of Directive 2014/59/EU in order to exit the market or terminate its banking activity, Member States may allow DGSs to use the available financial means for alternative measures to preserve the access of depositors to their deposits, including the transfer of assets and liabilities and a deposit book transfer, provided that all the conditions laid down in Article 11d of this Directive are met.

6. By 11 May 2030, the Commission shall, after having consulted EBA, submit a report to the European Parliament and to the Council assessing the implementation and impact of the provisions related to the measures referred to in paragraphs 3 and 5, including:

(a) an evaluation of the state of play of the transposition and implementation of those measures and any legal or practical obstacles that have prevented Member States from enabling their DGSs to finance them;

(b) an assessment of the effectiveness of those measures and the extent to which they have contributed to the achievement of the objectives of this Directive;

(c) an analysis of the appropriateness of making those measures available to DGSs in all Member States.

The report shall be accompanied by a legislative proposal where appropriate.’;

(13) the following Articles are inserted:

‘Article 11a

Preventive measures

1. Where Member States allow the use of DGS funds for preventive measures, as referred to in Article 11(3), they shall ensure that DGSs use the available financial means for such preventive measures, provided that all of the following conditions are met:

(a) the request of a credit institution for the financing of such preventive measures is accompanied by a note setting out measures as referred to in Article 11b(1);

(b) the credit institution has consulted the competent authority on the measures set out in the note referred to in Article 11b(1) and has taken into account the competent authority’s comments on those measures;

(c) the use of preventive measures by the DGS is linked to conditions imposed on the supported credit institution, involving at least more stringent risk monitoring of the credit institution, accompanied by governance arrangements that facilitate such monitoring, greater verification rights for the DGS and more frequent reporting to the competent authorities;

(d) the use of the preventive measures by the DGS is conditional upon the credit institution’s obligation to secure effective access to covered deposits;

(e) the affiliated credit institutions are able to pay the extraordinary contributions in accordance with Article 11(4);

(f) the credit institution complies with its obligations under this Directive and the repayment schedule or exit strategy as referred to in Article 11b(6) of this Directive or in Article 32c(2), point (b), of Directive 2014/59/EU has been complied with in respect of any previous preventive measure or extraordinary public financial support.

2. Member States shall ensure that DGSs have monitoring systems and decision-making procedures in place that are appropriate for selecting and implementing preventive measures and monitoring affiliated risks.

3. Member States shall ensure that DGSs may implement preventive measures only where the designated authority has confirmed that all the conditions laid down in paragraph 1 have been met. The designated authority shall notify the competent authority and the resolution authority.

4. EBA shall develop guidelines to specify the following:

(a) the conditions referred to in paragraph 1, point (c);

(b) the monitoring systems and decision-making procedures that DGSs are to have in place in accordance with paragraph 2, taking into account the practices of the IPSs referred to in Article 1(2), point (c);

(c) taking into account the requirements set out in Article 11b, the detailed arrangements of cooperation between the resolution authorities, the designated authorities and the competent authorities under paragraphs 1 and 3 of this Article.

Article 11b

Requirements for preventive measures

1. Member States shall ensure that credit institutions which request a DGS to finance preventive measures pursuant to Article 11(3) present to the competent authority a note setting out the measures that those credit institutions commit to undertake in order to secure compliance with the applicable supervisory requirements in accordance with Directive 2013/36/EU and Regulation (EU) No 575/2013.

2. The note referred to in paragraph 1 shall set out actions to mitigate the risk of deterioration of the financial soundness of the credit institution and strengthen its capital and liquidity positions.

3. Where the financial means of a DGS are used for preventive measures pursuant to Article 11(3) of this Directive, such use shall be considered as a change of the financial situation of the credit institution and an update of the recovery plan shall be required pursuant to Article 5(2) of Directive 2014/59/EU.

4. Member States shall ensure that in the event of capital support measures, including recapitalisations, asset impairment measures and asset guarantees, the available financial means of a DGS cover only the capital shortfall as currently estimated on the basis of the following elements:

(a) the capital shortfall identified in a Union or national stress test, asset quality review or equivalent exercise, or during the supervisory review and evaluation process, on-site inspections or temporary administration, or by an independent valuer;

(b) capital-raising measures to be implemented within six months of submission of the business reorganisation plan;

(c) safeguards preventing outflows of funds, including the measures referred to in paragraph 7.

The elements referred to in the first subparagraph, points (a) to (c), shall be included in the note referred to in paragraph 1.

When determining the amount of capital support to be provided by the DGS, the DGS may also take into account any forward-looking capital adequacy assessment, including the capital conservation plan referred to in Article 142 of Directive 2013/36/EU.

The DGS shall notify the competent authority of the amount of capital support to be provided.

5. Member States shall ensure that DGSs transfer their holdings of shares or other capital instruments in the supported credit institution as soon as commercial and financial circumstances allow.

6. Member States shall ensure that the note referred to in paragraph 1 provides for an exit strategy from the preventive measures, including a clearly specified schedule for the repayment by the credit institution of any repayable funds received as part of the preventive measures and divestment of the holding of the DGS concerned in that credit institution’s capital pursuant to paragraph 5. That information shall not be disclosed until after that credit institution exits the preventive measures, or until after the assessment referred to in Article 11c(3) has been completed, subject to non-delayable disclosure obligations referred to in Article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council (*).

7. Member States shall ensure that no dividends, share buy-backs or variable remuneration are paid out and no irrevocable commitment to pay out dividends, share buy-backs or variable remuneration is undertaken by the supported credit institution. The competent authority may exceptionally allow the payment of dividends where the credit institution demonstrates to the satisfaction of the competent authority that it is legally bound to pay out such dividends. Member States shall ensure that the prohibitions set out in this paragraph remain in place until after the credit institution exits the preventive measures.

8. Member States shall ensure that within six months of the provision of the initial financial support, the supported credit institution submits a business reorganisation plan to the competent authority. After the preventive measures have been granted, the competent authority may extend that period to a maximum period of eight months. Where the competent authority is not satisfied that the business reorganisation plan is credible or feasible, the further provision of funds by the DGS to the credit institution concerned shall be suspended.

9. Member States shall ensure that the measures envisaged in the business reorganisation plan referred to in paragraph 8 are compatible with the restructuring plan of the credit institution that may be required by the Commission, pursuant to the Union State aid framework.

10. The competent authority shall provide the business reorganisation plan referred to in paragraph 8 to the resolution authority. The resolution authority may examine the business reorganisation plan with a view to identifying any actions which might adversely impact the resolvability of the institution and may make recommendations to the competent authority with regard to those matters. The resolution authority shall communicate its assessment and recommendations within the timeframe set by the competent authority.

Article 11c

Remediation plan

1. Member States shall ensure that where a credit institution fails to fulfil the commitments outlined in the note referred to in Article 11b(1), or in the business reorganisation plan referred to in Article 11b(8) or fails to repay the amount contributed by the DGS under the preventive measures referred to in Article 11(3) at maturity or to comply with the exit strategy under Article 11b(6), the DGS informs the competent authority thereof without delay.

2. In the circumstances referred to in paragraph 1, Member States shall ensure that the competent authority requests the credit institution to submit a one-time remediation plan to the designated authority and the DGS describing the steps the credit institution will take to secure compliance with supervisory requirements, to ensure its long-term viability and to repay the due amount contributed by the DGS to the preventive measures, as well as the associated timeframe. The designated authority and the DGS shall consult the competent authority as regards the measures envisaged in the remediation plan.

3. Where the competent authority is not satisfied that the remediation plan is credible or feasible or where the credit institution fails to comply with the remediation plan, the competent authority shall inform the DGS and the resolution authority of its assessment. In that case, the DGS shall not grant any further preventive measures to that credit institution and the relevant authorities shall carry out an assessment of whether the institution is failing or is likely to fail in accordance with Article 32 of Directive 2014/59/EU.

4. By 11 May 2029, EBA shall issue guidelines setting out the elements to be included in the business reorganisation plan accompanying the preventive measures referred to in Article 11b(4) to (8) and in the remediation plan referred to in paragraph 1 of this Article.

Article 11d

Conditions for alternative measures

1. Member States shall ensure that, where available financial means of a DGS are used for alternative measures as referred to in Article 11(5), the DGS may contribute the amount necessary to finance the transfer of non-covered deposits and other ordinary unsecured liabilities to a recipient and to ensure the capital neutrality of the recipient, in addition to the amount necessary for the transfer of covered deposits and assets of the credit institution concerned, where in the assessment of the relevant national authority:

(a) the transfer of deposits that are not covered or of ordinary unsecured liabilities is strictly necessary and proportionate to avoid contagion, in particular as regards eligible deposits held by natural persons and micro, small and medium sized enterprises;

(b) the transfer of deposits that are not covered and of ordinary unsecured liabilities would maximise the value upon sale or transfer to a new buyer, thereby limiting the destruction of economic value and reducing potential losses for creditors; or

(c) there is a need to preserve the whole relationship with clients in order to maintain confidence.

Member States shall ensure that DGSs do not finance the transfer of own funds and liabilities ranking below ordinary unsecured liabilities in their national laws governing normal insolvency proceedings.

2. Member States shall ensure that when a DGS finances the transfer of assets and liabilities, including a deposit book transfer as referred to in Article 11(5), the credit institution concerned, or the relevant national authority, markets, or makes arrangements for the marketing of, the assets, rights and liabilities that credit institution intends to transfer. Without prejudice to the Union State aid framework, such marketing shall:

(a) be open and transparent and not misrepresent the assets, rights and liabilities that are to be transferred;

(b) not favour, or discriminate between, potential purchasers and not confer any advantages on a potential purchaser;

(c) be free from any conflict of interest;

(d) take account of the need to implement a rapid solution, taking into account the deadline laid down in Article 3(2), second subparagraph, for the determination referred to in Article 2(1), point (8)(a); and

(e) aim at maximising, as much as possible, the sale price for the assets, rights and liabilities concerned.

Article 11e

Least cost test

Member States shall ensure that, where DGS funds are used for any measure referred to in Article 11(2), (3) or (5) of this Directive, the amount of the respective DGS intervention does not exceed the lesser of the following amounts:

(a) the amount of covered deposits at the credit institution; or

(b) the amount resulting from the conditions for the application of the relevant measure laid down in Article 109 of Directive 2014/59/EU or in Article 11(3) or Article 11(5) of this Directive, respectively.

(*) Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1, ELI: http://data.europa.eu/eli/reg/2014/596/oj).’;

(14) the following article is inserted:

‘Article 12a

Use of the available financial means of IPSs recognised as DGSs under Article 113(7), point (b), of Regulation (EU) No 575/2013

1. Members States may allow an IPS as referred to in Article 1(2), point (c), to lend or otherwise make available its available financial means as referred to in Article 10(1) to any other funds of that IPS as referred to in Article 113(7), point (b), of Regulation (EU) No 575/2013, provided that the following conditions are met:

(a) those financial means lent or otherwise made available are needed to ensure the liquidity and solvency to avoid bankruptcy of an affiliated institution;

(b) there is no immediate need for the DGS to use the available financial means referred to in Article 10(1) to repay depositors of its member institutions or to intervene in resolution of its member institutions;

(c) the total amount does not exceed 75 % of the DGS target level;

(d) the financial means lent or otherwise made available must be repaid within six years.

2. Member States shall ensure that if an IPS as referred to in Article 1(2), point (c), has lent or otherwise made available financial means in accordance with paragraph 1 of this Article and the need to repay depositors of its member institutions or to intervene in resolution arises, those means are repaid upon request within a period not exceeding the period referred to in Article 8(1).’;

(15) Article 14 is amended as follows:

(a) paragraph 1 is replaced by the following:

‘1. Member States shall ensure that DGSs cover the following:

(a) depositors at branches set up by their affiliated credit institutions in other Member States; and

(b) depositors at their affiliated credit institutions exercising the freedom to provide services as referred to in Title V, Chapter 3, of Directive 2013/36/EU where those depositors make use of those services in a different Member State.’;

(b) in paragraph 2, the following subparagraph is added:

‘By way of derogation from the first subparagraph, Member States shall ensure that a DGS of the home Member State may decide to repay depositors at branches in another Member State directly where all of the following apply:

(i) the administrative burden and cost of such repayment is lower than the repayment by a DGS of the host Member State;

(ii) the DGS of the home Member State ensures that the depositors are not worse off than they would have been if the repayment had been conducted in accordance with the first subparagraph;

(iii) the repayment is made in the same currency as it would have been if it had been conducted in accordance with the first subparagraph.’;

(c) the following paragraphs are inserted:

‘2a. Member States shall ensure that a DGS of a host Member State may, subject to an agreement with a DGS of a home Member State, act as the point of contact for depositors at credit institutions that exercise the freedom to provide services as referred to in Title V, Chapter 3, of Directive 2013/36/EU, and shall be compensated by the DGS of the home Member State for the costs incurred.

2b. Where paragraph 2 applies, Member States shall ensure that the DGS of the home Member State and the DGS of the host Member State concerned have an agreement in place on the payout terms and conditions, including on the compensation of any costs incurred, the contact point for depositors, the timeline and the payment method.

2c. Where paragraph 2 or 2a applies, the DGS of the home Member State shall provide the DGS of the host Member State with information on:

(a) the number of depositors at branches set up by its affiliated credit institutions in that host Member State, the amount of covered deposits in those branches and any relevant changes thereto;

(b) the number of depositors at its affiliated credit institutions exercising the freedom to provide services as referred to in Title V, Chapter 3, of Directive 2013/36/EU where these depositors make use of these services in that host Member State, the total amount of covered deposits of those depositors and any relevant changes thereto.’;

(d) paragraph 3 is replaced by the following:

‘3. Member States shall ensure that, where a credit institution ceases to be a member of a DGS and joins another DGS, or if some of the credit institution’s activities are transferred to another DGS, the DGS of origin transfers to the receiving DGS the contributions due for the 12 months preceding the change of DGS membership or transfer of activities, in proportion to the amount of covered deposits transferred, with the exception of the extraordinary contributions referred to in Article 10(8).’;

(e) the following paragraph is inserted:

‘3a. For the purposes of paragraph 3, Member States shall ensure that the DGS of origin transfers, at the request of the receiving DGS, the amount referred to in that paragraph within one month of that request.’;

(f) in paragraph 4, the first subparagraph is replaced by the following:

‘4. Member States shall ensure that DGSs of the home Member State exchange information referred to under Article 4(7) and (10), and Article 16a(1) and (2) with those in host Member States. The restrictions set out in Article 4(11) shall apply.’;

(g) the following paragraph is added:

‘9. By 11 May 2028, EBA shall issue guidelines on the respective roles of the DGS of the home and host Member States as referred to in paragraph 2, including a list of circumstances and conditions under which a DGS of the home Member State is able to decide to repay depositors at branches located in another Member State as laid down in paragraph 2, third subparagraph.’;

(16) Article 15 is replaced by the following:

‘Article 15

Branches in the Union of credit institutions that are established in third countries

Member States shall require branches of credit institutions that have their head offices outside the Union to join a DGS within their territory before they allow such branches to take eligible deposits in those Member States.

Member States shall ensure that the branches referred to in the first paragraph contribute to the DGS in accordance with Article 13.’;

(17) the following article is inserted:

‘Article 15a

Affiliated credit institutions that have branches in third countries

Member States shall ensure that DGSs do not cover depositors at branches that have been set up in third countries by their affiliated credit institutions.

By way of derogation from the first paragraph, Member States may provide that DGSs cover depositors at branches that have been set up in third countries by their affiliated credit institutions on the condition that those DGSs raise corresponding contributions from the credit institutions concerned and subject to the approval of the designated authority.’;

(18) Article 16 is amended as follows:

(a) paragraph 1 is replaced by the following:

‘1. Member States shall ensure that credit institutions provide actual and intending depositors with the information those depositors need to identify the DGSs of which the credit institution and its branches are members within the Union. Credit institutions shall provide that information in the form of an information sheet prepared in a data extractable format as defined in Article 2, point (3), of Regulation (EU) 2023/2859 of the European Parliament and of the Council (*).

(*) Regulation (EU) 2023/2859 of the European Parliament and of the Council of 13 December 2023 establishing a European single access point providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability (OJ L, 2023/2859, 20.12.2023, ELI: http://data.europa.eu/eli/reg/2023/2859/oj).’;

(b) the following paragraph is inserted:

‘1a. Member States shall ensure that the information sheet referred to in paragraph 1 contains all of the following:

(a) basic information about the protection of deposits;

(b) contact details of the credit institution as a first point of contact for information on the content of the information sheet;

(c) coverage level for deposits as referred to in Article 6(1) and (2), denominated in EUR or, where relevant, in another currency;

(d) applicable exclusions from DGS protection;

(e) limit of protection in relation to joint accounts;

(f) repayment period in case of the credit institution’s failure;

(g) currency of repayment;

(h) identification of the DGS responsible for protecting a deposit, including a reference to its website.’;

(c) paragraph 2 is replaced by the following:

‘2. Member States shall ensure that credit institutions provide the information sheet referred to in paragraph 1 before they enter into a contract on deposit-taking, and, subsequently, whenever there is any change to the information provided and at least every five years. Credit institutions shall require that depositors acknowledge the receipt of that information sheet when they enter into that contract.’;

(d) in paragraph 3, the first subparagraph is replaced by the following:

‘Member States shall ensure that credit institutions confirm on their depositors’ statements of account that the deposits concerned are eligible deposits, including a reference to the information sheet referred to paragraph 1.’;

(e) paragraph 4 is replaced by the following:

‘4. Member States shall ensure that credit institutions make the information referred to in this Article available in the language that was agreed by the depositor and the credit institution when the account was opened or in the official language or languages of the Member State in which the branch is established.’;

(f) paragraphs 6 and 7 are replaced by the following:

‘6. Member States shall ensure that in the case of a merger of credit institutions, conversion of subsidiaries of a credit institution into branches, or similar operations, credit institutions notify the DGS and their depositors thereof at least one month before that operation takes legal effect, unless the competent authority allows for a shorter deadline on grounds of commercial secrecy or financial stability. That notification shall explain the impact of the operation on depositor protection.

Member States shall ensure that, where, as a result of the operations referred to in the first subparagraph of this paragraph, depositors with deposits in the credit institutions concerned will be affected by the reduced deposit protection, those credit institutions notify those depositors that they may withdraw or transfer to another credit institution their eligible deposits, including all accrued interest and benefits, without incurring any penalty, up to an amount equal to the lost coverage of their deposits, including with respect to the coverage levels provided under Article 6(2), within three months of the notification to the depositors referred to in the first subparagraph of this paragraph.

7. Member States shall ensure that credit institutions that cease to be a member of one DGS and join another have notified their depositors thereof at least one month prior to that change. That notification shall explain the impact of the change of membership on depositor protection.’;

(g) the following paragraph is inserted:

‘7a. Where a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b), Member States shall ensure that designated authorities, DGSs and credit institutions concerned inform depositors thereof, including by a publication on their websites.’;

(h) paragraph 8 is replaced by the following:

‘8. Member States shall ensure that where a depositor uses internet banking, credit institutions provide the information they have to provide to their depositors under this Directive by electronic means unless a depositor requests to receive that information on paper.’;

(i) the following paragraph is added:

‘9. EBA shall develop draft implementing technical standards to specify:

(a) the content and the format of the information sheet referred to in paragraph 1;

(b) the procedure to be followed for the provision of, and the content of, the information to be provided in the communications from designated authorities, DGSs or credit institutions to depositors, in the situations referred to in Articles 8b and 8c and in paragraphs 6, 7 and 7a of this Article.

EBA shall submit the draft implementing technical standards referred to in the first subparagraph to the Commission by 11 May 2027.

Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph of this paragraph in accordance with Article 15 of Regulation (EU) No 1093/2010.’;

(19) the following article is inserted:

‘Article 16a

Information exchange between credit institutions and DGSs, and reporting by authorities

1. Member States shall ensure that credit institutions maintain at all times and, upon request, provide to the DGS to which they are affiliated all information necessary to carry out the stress testing referred to in Article 4(10) and to prepare for a repayment of deposits, in accordance with the identification requirement laid down in Article 5(4), including the information for the purposes of Article 8(5) and Articles 8b and 8c.

2. Member States shall ensure that credit institutions, upon request, provide to the DGS to which they are affiliated the information referred to in paragraph 1 regarding:

(a) depositors at branches of those credit institutions in other Member States or, where those deposits are covered by the DGS, in third countries;

(b) depositors who are recipients of services provided by affiliated credit institutions on the basis of the freedom to provide services.

The information referred to in points (a) and (b) of the first subparagraph shall indicate the Member States or third countries in which those branches or depositors are located.

3. Member States shall ensure that, by 31 March of each year, DGSs inform EBA of:

(a) the amount of covered deposits in their Member State on 31 December of the preceding year;

(b) the amount of their available financial means as at 31 December of the preceding year, including the share of borrowed or lent resources and payment commitments, and,

(c) in the event of any disbursement of DGS’s funds in accordance with Article 8(1) or Article 11(2), (3) or (5), the timeline for reaching the target level.

4. Member States shall ensure that the designated authorities notify EBA, without undue delay, about any of the following:

(a) the determination of unavailable deposits pursuant to the circumstances referred to in Article 2(1), point (8);

(b) the repayment of deposits in accordance with Article 8 or the application of any of the measures referred to in Article 11(2), (3) and (5), the amount of funds used in accordance with Article 8 and Article 11(2), (3) and (5), and, where applicable and once available, the amount of funds recovered, the resulting cost for the DGS and the duration of the recovery process;

(c) the alternative funding arrangements available and their actual use as referred to in Article 10(9);

(d) any DGSs that have ceased to operate or the establishment of any new DGS, including as a result of a merger or of the fact that a DGS started operating on a cross-border basis.

The notification referred to in the first subparagraph, point (b), shall contain a summary describing all of the following:

(a) the initial situation of the credit institution;

(b) the repayment of deposits in accordance with Article 8 or the measures for which the DGS funds have been used, including the specific instruments that have been used for the measures referred to in Article 11(2), (3) or (5);

(c) the expected amount of funds used.

5. EBA shall publish the information received in accordance with paragraph 3 and the summary referred to in paragraph 4 without undue delay. However, it shall not publish any information provided by a DGS that is regarded by that DGS as confidential.

6. Member States shall ensure that the resolution authorities of the credit institutions which are a member of a DGS provide that DGS with the summary of the key elements of the resolution plans as referred to in Article 10(7), point (a), of Directive 2014/59/EU. Resolution authorities may exclude from that summary information which is not necessary for the DGS and designated authorities to exercise the obligations referred to in Article 8, Article 11(2), (3) and (5) and Article 11e of this Directive.

7. EBA shall develop draft implementing technical standards to specify the procedures to be followed and the minimum contents of the information referred to in paragraph 1, taking into account the types of depositors, and the procedures, templates and the content of the information referred to in paragraphs 3 and 4.

EBA shall submit those draft implementing technical standards to the Commission by 11 May 2027.

Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1093/2010.’;

(20) Annex I is deleted.

1. Member States shall ensure that branches of credit institutions that have their head office outside the Union and take eligible deposits in a Member State on 11 May 2028, and that are not members of a DGS on that date, join a DGS in operation within their territories by 11 August 2028. Article 1, point (16) shall not apply to those branches until 11 August 2028.

2. By way of derogation from Article 11(3) of Directive 2014/49/EU, as amended by this Directive, and Articles 11a, 11b, 11c and, to the extent that it refers to Article 11(3), Article 11e of that Directive as regards preventive measures, Member States may until 31 December 2032, allow IPSs referred to in Article 1(2), point (c), of Directive 2014/49/EU to comply with the national provisions implementing Article 11(3) of that Directive as applicable on 10 May 2026.

1. By 11 May 2028, Member States shall adopt and publish the measures necessary to comply with this Directive. They shall immediately inform the Commission thereof.

They shall apply those measures from 11 May 2028. However, they shall apply the provisions necessary to comply with Article 11(3) of Directive 2014/49/EU, as amended by this Directive, and Articles 11a, 11b, 11c and, to the extent that it refers to Article 11(3), Article 11e of Directive 2014/49/EU from 11 May 2029.

When Member States adopt those measures, they shall contain a reference to this Directive or shall be accompanied by such a reference on the occasion of their official publication. The methods of making such reference shall be laid down by the Member States.

2. Member States shall communicate to the Commission the text of the main measures of national law which they adopt in the field covered by this Directive.

This Directive shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Directive is addressed to the Member States.