The European Banking Authority (EBA) has announced the launch of a public consultation on its draft Guidelines regarding minimum regulatory requirements relating to covered deposits. This initiative is part of the EBA's ongoing efforts to ensure harmonization across the EU in the application of these requirements.
The guidelines aim to provide clarity and support for deposit guarantee schemes (DGSs) in their interactions with credit institutions. The focus is on ensuring that DGSs have access to accurate and timely information necessary for performing their tasks effectively.
According to the EBA, "the draft Guidelines set out requirements that will enable DGSs to fulfill their mandates under the Deposit Guarantee Schemes Directive (DGSD)."
The consultation period will run until June 30, 2024, during which stakeholders are invited to submit their feedback. The EBA emphasizes the importance of stakeholder engagement in refining these guidelines.
The authority stated, "We encourage all interested parties to participate in this consultation process."
Once finalized, these guidelines are expected to be implemented by January 1, 2025. They will play a crucial role in reinforcing depositor protection within the EU banking sector.
For more details about the consultation process and how to participate, stakeholders can visit the EBA's official website.