The European Banking Authority has published a final report on guidelines on cooperation agreements between deposit guarantee schemes (DGSs).
The new Deposit Guarantee Schemes Directive (the Directive) stipulates that, in order to facilitate effective cooperation between deposit guarantee schemes (DGSs), the DGSs, or, where appropriate, the Member State designated authorities, shall have written cooperation agreements in place.
The final guidelines specify the objectives and minimum content of cooperation agreements between DGSs or, where appropriate, Member State designated authorities, with the aim of ensuring a common and consistent approach to such cooperation agreements across Member States. To avoid the signing of hundreds of detailed bilateral agreements between multiple DGSs within the EU, the guidelines include a multilateral framework cooperation agreement to which the DGSs or, where relevant, the Member State designated authorities, should adhere.
The guidelines will be translated into the official EU languages and published on the EBA website. The deadline for Member State competent authorities to report whether they comply with the guidelines will be two months after the publication of the translations. The guidelines will apply from 6 months from publication of the translation of the guidelines in all EU official languages on the EBA’s website.
View Final EBA guidelines on cooperation agreements between deposit guarantee schemes, 15 February 2016