The European Commission has formally requested that Belgium, Cyprus, Estonia, Greece, Italy, Luxembourg, Poland, Romania, Slovenia and Sweden fully implement the recast Deposit Guarantee Schemes Directive (recast DGSD).

According to the Commission the abovementioned Member States have failed to implement the recast DGSD into their national laws by the transposition deadline of 3 July 2015. The Commission’s request takes the form of a reasoned opinion. If Member States fail to comply within two months, the Commission may decide to refer them to the European Court of Justice.

View Financial Services: Commission requests 10 Member States to implement EU rules on Deposit Guarantee Schemes, 10 December 2015