The categories of depositors that are protected by a DGS are based on the objective of protecting non-professional investors, whereas professional investors are deemed not to need such protection. For that reason, public authorities have been excluded from coverage to date. However, most public authorities, which in some Member States include schools and hospitals, cannot be considered to be professional investors. It is therefore necessary to ensure that deposits of non-professional investors, such as local authorities, small public entities and non-profit institutions controlled by central government or state government, can benefit from the protection offered by a DGS.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
