Financial institutions are excluded from deposit protection. However, certain financial institutions, including e-money institutions, payment institutions and investment firms, also deposit the funds received from their clients in bank accounts, often on a temporary basis, in order to comply with safeguarding obligations in line with sectorial legislation, including Directives 2009/110/EC, 2014/65/EU and (EU) 2015/2366 of the European Parliament and of the Council. Considering the growing role of those financial institutions, DGSs should protect such deposits under the condition that those clients are identified or identifiable.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
