Annexes to COM(2023)228 - Amendment of Directive 2014/49/EU as regards the scope of deposit protection, use of deposit guarantee schemes funds, cross-border cooperation, and transparency

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dossier COM(2023)228 - Amendment of Directive 2014/49/EU as regards the scope of deposit protection, use of deposit guarantee schemes funds, ...
document COM(2023)228 EN
date April 18, 2023
agreement on a credible and robust mechanism for providing liquidity in resolution in the Banking Union, in line with the standard set by international peers.

5COM/2015/0586 final.

6Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1–337).

7Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338–436).

8The Basel Committee on Banking Supervision and the Financial Stability Board (FSB). Financial Stability Board (2014 updated version), Key Attributes of effective resolution regimes for financial institutions and (2015), Principles on Loss-absorbing and Recapitalisation Capacity of Globally Systemically Important Banks (G-SIBs) in Resolution, Total Loss-absorbing Capacity (TLAC) Term Sheet.

9Eurogroup (30 November 2020), Statement of the Eurogroup in inclusive format on the ESM reform and the early introduction of the backstop to the Single Resolution Fund. The implementation will take place over 2022-2024. However, the Agreement Amending the Treaty Establishing the European Stability Mechanism is still pending ratification.

10European Commission (2020), Commission Work Programme 2021, section 2.3, p. 5.

11European Commission (2023), Long-term competitiveness of the EU: looking beyond 2030.

12Eurogroup (16 June 2022), Eurogroup statement on the future of the Banking Union.

13European Parliament (2022), Banking Union – annual report 2021; the European Parliament has issued a report on the Banking Union every year starting 2015.

14Euro Summit Meeting (24 March 2023), Statement of the Euro Summit, meeting in inclusive format.

15See the section 3 on collection and use of expertise.

16Communication from the Commission on the application, from 1 August 2013, of State aid rules to support measures in favour of banks in the context of the financial crisis (‘Banking Communication’) Text with EEA relevance; OJ C 216, 30.7.2013, p. 1–15.

17Directive (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 (Text with EEA relevance); OJ L 337, 23.12.2015, p. 35–127.

18Commission Delegated Directive (EU) 2017/593 of 7 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to safeguarding of financial instruments and funds belonging to clients, product governance obligations and the rules applicable to the provision or reception of fees, commissions or any monetary or non-monetary benefits (Text with EEA relevance); OJ L 87, 31.3.2017, p. 500–517.

19See judgment of 21 June 2018, Poland v Parliament and Council, C-5/16, EU:C:2018:483, p. 49, p. 69 and case-law cited.

20European Commission (2021), Consultation Banking Union – review of the bank crisis management and deposit insurance framework.

21EBA (October 2021), Call for advice regarding funding in resolution and insolvency

22EBA (August 2019), Opinion of the EBA on the eligibility of deposits, coverage level and cooperation between deposit guarantee schemes

23EBA (October 2019) Opinion of the EBA on deposit guarantee scheme payouts.

24EBA (January 2020), Opinion of the EBA on deposit guarantee scheme funding and uses of deposit guarantee funds.

25EBA (October 2021), Opinion of the EBA on the treatment of client funds under the DGSD.

26EBA (December 2021), Opinion of the EBA on the interplay between the EU Anti-Money Laundering Directive and the EU Deposit Guarantee Scheme Directive.

27EBA (March 2021), Opinion of the EBA on the risks of money laundering and terrorist financing affecting the EU’s financial sector.

28CEPS (December 2016), Harmonising insolvency laws in the Euro area. https://www.ceps.eu/ceps-publications/harmonising-insolvency-laws-euro-area-rationale-stocktaking-and-challenges/

29CEPS (November 2019), Options and national discretions under the DGSD and their treatment in the context of a European Deposit Insurance Scheme.

30 Please see references to SWD(2023)226 (summary sheet of the IA) and SEC(2023)230 (the positive opinion of the Regulatory Scrutiny Board).

31The proposal requires Member States to transpose this Directive in their national laws within 18 months from the entry into force of this proposal.

32European Commission, (July 2021), Proposal for a Regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing COM(2021) 420 final.

33OJ C , , p. .

34OJ C , , p. .

35OJ C , , p. .

36Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee schemes (recast) (OJ L 173, 12.6.2014, p. 149).

37Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).

38Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ L 267, 10.10.2009, p. 7).

39Directive (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).

40Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (OJ L 173, 12.6.2014, p. 349).

41Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

42Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).

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