Brussels, 09/12/2015 (Agence Europe) - As of 4 December, 15 member states had fully transposed the directive (2014/49) on the national bank deposit guarantee schemes.
Under the directive applicable since July 2015, bank savings of natural persons of up to €100,000 are protected under all circumstances (see EUROPE 11061). The national deposit guarantee funds, which are fed into by the industry, have to be set in place and build up to the target level of 0.8% of deposits covered over a transitional period of 10 years. Loans between funds are possible.
In order to respond to German misgivings, the European Commission has proposed that the future European deposit insurance system (EDIS) be accessible only to the member states which apply the directive in question (see EUROPE 11448).
The same goes for the directive on the national bank restructuring and resolution schemes ('BRRD'), which has been applicable since the start of this year. From January 2016, this directive (2014/59) brings in provisions on the 'bail-in', whereby the shareholders and creditors of a bank will be the first to be drawn upon in the event of the failure of the bank. As of 4 December, 19 countries had fully transposed this legislative text. At the end of October, the Commission decided to bring six countries (Luxembourg, the Netherlands, Poland, the Czech Republic, Romania and Sweden) before the Court of Justice of the EU for failing to fully transpose the 'BRRD' directive (see EUROPE 11416). (Original version in French by Mathieu Bion)