Answer to Written Question: Deposit guarantee schemes

(Source: European Parliament)  



Answer given by Ms McGuinness

on behalf of the European Commission


The Deposit Guarantee Scheme Directive (DGSD)[1] provides for minimum harmonisation in the area of transfer of contributions.

The Commission has taken due note of the fact that Article 14(3) of the DGSD has given rise to different interpretations by national deposit guarantee schemes (DGSs), for example where a DGS collects contributions on different dates so that the actual payments of contributions fall outside a one-year time span.

The Commission will address the margin of interpretation in the upcoming review of the Directive, based on discussions in different forums[2].  

In addition, the Commission adopted a reasoned opinion related to the issue of transfer of contributions between DGSs, in a procedure brought by Latvia against Sweden under Article 259 of the Treaty on the Functioning of the European Union[3]. In principle, the Commission considers that Article 14(3) cannot be read in isolation from Article 10(1), providing the obligation to raise contributions at least annually, and that these articles are interdependent. The Commission also considers that the period for which the contributions are collected, rather than the actual dates of payments of contributions, should be decisive when determining which contributions should be transferred.

It is, however, ultimately for the Court of Justice to interpret Union law in the cases in question.

[1] Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes Text with EEA relevance, OJ L 173, 12.6.2014, p. 149–178

[2] EBA opinion on the eligibility of deposits, coverage level and cooperation between DGSs of 8 August 2019; Commission Expert Group for Banking, Payment and Insurance of 16 July 2020.  

[3] See the press memo of 2 August 2021 published by the European Commission.

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