Deposits resulting from certain events, including real estate transactions by a natural person relating to private residential properties or the payout of certain insurance benefits, can temporarily lead to large deposits. For that reason, Directive 2014/49/EU obliges Member States to ensure that deposits resulting from those events are protected above EUR 100000 for at least three months, but for no longer than 12 months from the moment the amount has been credited or from the moment when such deposits become legally transferable. To harmonise depositor protection in the Union and to reduce the administrative complexity and legal uncertainty related to the scope of protection of such deposits, it is necessary to align their protection to a minimum amount of EUR 500000 for all temporary high balances, and for deposits related to real estate transactions to a maximum amount of EUR 2500000, for a harmonised duration of six months, in addition to the coverage level of EUR 100000. After their transposition by Member States, these amounts should be reviewed periodically, and at least once every five years. If appropriate, the Commission should submit to the European Parliament and to the Council a proposal for a Directive to adjust those amounts, taking into account the evolution of real estate prices in different Member States and the need to ensure proportionality and a level playing field across the Union.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
