The European Parliament has published a draft report from its Committee on Economic and Monetary Affairs regarding the proposed Regulation establishing a European Deposit Insurance Scheme (EDIS).
The report notes that at the request of the European Parliament and the Council of the EU, the European Commission published on 10 October 2016 a supplementary Effects Analysis on EDIS. That analysis, covering mandatory reinsurance, mandatory lending and a mutualised fund showed that the proposed Regulation could deliver a significantly stronger deposit insurance system than under a system of purely national schemes with voluntary lending. As a result, this latest report states that despite the political difficulties, agreement on the draft Regulation is possible as there are multiple possibilities for the negotiations and the question is not being in favour or against EDIS but rather what kind of EDIS could become a reality and what would its necessary features be in order for it to be adopted. The report states that the most important first step is to achieve a broad majority within the European Parliament.
View European Parliament draft report – proposal for a Regulation of the European Parliament and of the Council amending Regulation (EU) 806/2014 in order to establish a European Deposit Insurance Scheme, 4 November 2016