Recitals
- Recital (1)In accordance with Article 19(5) and (6) of Directive 2014/49/EU of the European Parliament and of the Council, the Commission has reviewed…
- Recital (2)The review of the Union’s crisis management and deposit insurance framework is intended to pave the way towards progress on deepening the…
- Recital (3)The Union’s crisis management and deposit insurance framework should consistently uphold the principles that losses are to be borne by…
- Recital (4)A failure by credit institutions to comply with their obligations to pay contributions to DGSs or to provide information to depositors and…
- Recital (5)To support further convergence of DGSs’ practices and assist DGSs in testing their resilience, the European Supervisory Authority (European…
- Recital (6)Pursuant to Directive 2014/49/EU, deposits of certain financial institutions, including investment firms, are excluded from coverage by…
- Recital (7)The categories of depositors that are protected by a DGS are based on the objective of protecting non-professional investors, whereas…
- Recital (8)To ensure that deposits taken for the purpose of compliance with the minimum requirements for own funds and eligible liabilities under…
- Recital (9)Deposits resulting from certain events, including real estate transactions by a natural person relating to private residential properties…
- Recital (10)During a real estate transaction, funds can pass through different accounts prior to the actual settlement of the transaction. Therefore,…
- Recital (11)To ensure legal certainty, where a Member State allows for the deduction of a depositor’s liabilities to the credit institution when…
- Recital (12)It is necessary to optimise the operational capacities of DGSs and to reduce their administrative burden. For that reason, it should be…
- Recital (13)While the repayable amount, as a rule, should be available within seven working days, certain deposits might be subject to a longer…
- Recital (14)To ensure consistency with, and the implementation of, Union restrictive measures, credit institutions should earmark deposits subject to…
- Recital (15)The administrative cost related to the repayment of small amounts on dormant accounts can outweigh the benefits for the depositor. It is…
- Recital (16)DGSs have diverse methods to repay depositors, ranging from cash payouts to electronic transfers. However, to ensure the traceability of…
- Recital (17)Financial institutions are excluded from deposit protection. However, certain financial institutions, including e-money institutions,…
- Recital (18)Clients of financial institutions do not always know with which credit institution their financial institution has chosen to deposit their…
- Recital (19)When repaying depositors, DGSs may encounter situations that give rise to money laundering concerns. DGSs should therefore withhold the…
- Recital (20)Directive 2014/49/EU provides that where a DGS makes payments in the context of resolution proceedings, the DGS should have a claim against…
- Recital (21)To ensure convergence of DGS practices and legal certainty for depositors claiming deposits, and to avoid operational hurdles for DGSs, it…
- Recital (22)Pursuant to Directive 2014/49/EU, Member States were to ensure that by 3 July 2024, the available financial means of a DGS reach a target…
- Recital (23)In order to ensure the resilience of DGSs, their funds should derive from stable and irrevocable contributions. Certain sources of DGS…
- Recital (24)To ensure predictability and legal certainty concerning the time to reach the DGS target level following the use of DGS funds or an…
- Recital (25)To ensure consistent application, EBA should develop draft regulatory technical standards specifying the methodology for the calculation of…
- Recital (26)The available financial means of a DGS should be immediately usable to face sudden events of payout or other interventions. In view of…
- Recital (27)To ensure adequately diversified investment of DGS funds and convergent practices, EBA should issue guidelines to DGSs in that respect.
- Recital (28)The possibility set out in Directive 2014/49/EU to raise the available financial means of a DGS through mandatory contributions paid by…
- Recital (29)It is necessary to enhance depositor protection, while avoiding the need for a fire sale of the assets of a DGS and limiting possible…
- Recital (30)While the primary role of DGSs is the repayment of covered depositors, interventions outside payout can prove more cost-effective for DGSs…
- Recital (31)To ensure a consistent approach to the application of preventive measures by DGSs across the Union, EBA should issue guidelines specifying…
- Recital (32)Measures to prevent the failure of a credit institution through sufficiently early interventions can play an effective role in the…
- Recital (33)To ensure that preventive measures achieve their objective, credit institutions should be required to present to the competent authority a…
- Recital (34)To ensure that credit institutions receiving support from DGSs in the form of preventive measures deliver on their commitments, competent…
- Recital (35)It is necessary to subject a DGS contribution to alternative measures to adequate safeguards in order to ensure a level playing field and…
- Recital (36)To avoid detrimental effects on competition and on the internal market, it is necessary to lay down that in the case of alternative…
- Recital (37)Since the main aim of DGSs is to protect covered deposits, DGSs should only be allowed to finance interventions other than payouts where…
- Recital (38)To further account for the specificities of IPSs recognised as DGSs and to strengthen their effectiveness, Directive 2014/49/EU should…
- Recital (39)To enhance the harmonised protection of depositors and to specify responsibilities in cross-border situations across the Union, the DGS of…
- Recital (40)Cooperation between DGSs across the Union is vital to ensure fast and cost-efficient depositor repayment where credit institutions conduct…
- Recital (41)Credit institutions may change affiliation to a DGS or some of their activities may be transferred and thus become subject to another DGS.…
- Recital (42)It is necessary to ensure equal protection of depositors across the Union that cannot be fully guaranteed by an equivalence assessment…
- Recital (43)Standardised and regular information disclosure enhances awareness among depositors of deposit protection. To align disclosure requirements…
- Recital (44)The merger of credit institutions or the conversion of a subsidiary into a branch or vice versa, might affect the key features of depositor…
- Recital (45)To preserve financial stability, avoid contagion and enable depositors to exercise their rights to claim deposits when applicable,…
- Recital (46)To increase transparency for depositors and to promote financial robustness and trust among DGSs when fulfilling their mandates, the…
- Recital (47)Technical standards in financial services should facilitate consistent harmonisation and the adequate protection of depositors across the…
- Recital (48)Where provided for in this Directive, the Commission should adopt draft regulatory technical standards developed by EBA by means of…
- Recital (49)Where provided for in this Directive, the Commission should adopt draft implementing technical standards developed by EBA by means of…
- Recital (50)To allow branches in Member States of credit institutions having their head offices outside the Union that are not members of a DGS…
- Recital (51)Directive 2014/49/EU allows Member States to recognise an IPS as a DGS if it fulfils the criteria laid down in Article 113(7) of Regulation…
- Recital (52)To allow DGSs and designated authorities to build up the necessary operational capacity to apply the new rules set out in this Directive on…
- Recital (53)Since the objective of this Directive, namely to ensure uniform protection of depositors in the Union, cannot be sufficiently achieved by…
- Recital (54)The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 of the European…
- Recital (55)Directive 2014/49/EU should therefore be amended accordingly,
Text as published in the Official Journal; for the authentic version, see EUR-Lex.
