To increase transparency for depositors and to promote financial robustness and trust among DGSs when fulfilling their mandates, the current reporting requirements should be improved. Building on the current requirements that enable DGSs to request all necessary information from their member institutions to prepare for a payout, DGSs should also be able to request information necessary to prepare for a payout in the context of cross-border cooperation. Upon the request from a DGS, member institutions should be required to provide general information about any material cross-border business in other Member States or, where relevant, also in third countries. Likewise, in order to provide EBA with the suitable range of information on the evolution of the DGSs’ available financial means and on the use of those means, Member States should ensure that DGSs inform EBA on a yearly basis of the amount of covered deposits and available financial means and notify EBA about the circumstances that led to the use of DGS funds either for payouts or for other measures. Finally, to reflect the strengthening of the role of DGSs in banking crisis management in order to facilitate the use of DGS funds in resolution, resolution authorities should provide DGSs with a summary of the resolution plans of credit institutions to increase the general preparedness of those DGSs to make the funds available, to the extent necessary.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
