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Introduction
This study was prepared for the EFDI International Conference
“DGSs in
a New Regulatory Environment”
held in Bucharest (22-24 September 2014),
and is updated until the end of September 2014. It aims at a systematic
and comprehensive presentation and analysis of the provisions of the new
Directive of the European Parliament and of the Council of 16 April 2014
(2014/49/EU)
“on deposit guarantee schemes”
. The Directive is part of the
new European banking law, which has been shaped since 2008 in order to
effectively address:
• problems that were identified during the recent (2007-2009) interna-
tional financial crisis, and
• the need for a further Europeanisation of the bank safety net, as a result
of the current and ongoing euro area fiscal and debt crisis, with a view to
establishing a European Banking Union.
The Paper is structured in five (5) Sections:
(1) Section A views the position of the Directive within the context of
the legal framework of the European Banking Union and, more generally, of
the legal acts constituting the sources of European Banking Law.
(2) Section B analyses the general aspects of the Directive. It is divided in
four (4) sub-sections, which deal with:
• its subject matter,
• its scope of application,
• the timetable for its implementation and transposition into the Mem-
ber States’ national legislations, and
• the rules concerning the introduction, official recognition and internal
functioning of national (and cross-border) deposit guarantee schemes.
(3) Section C, structured in two (2) sub-sections, focuses on the Directive’s
provisions regarding the position of credit institutions as members of DGSs,
and in particular: