Changes from report parliamentary committee draft to report parliamentary committee draft

AddedSHORT JUSTIFICATION

RemovedRecital 22: (22) It is necessary to enhance depositor protection, while avoiding the need for a fire sale of the assets of a DGS and limiting possible negative pro-cyclical effects over the banking industry caused by the collection of extraordinary contributions. DGSs should therefore be allowed to use alternative funding arrangements that enable them to obtain at any time short-term funding from sources other than contributions, including before using their available financial means and funds collected through extraordinary contributions. Because credit institutions should primarily bear the cost and responsibility for financing DGSs, alternative funding arrangements from public funds should not be permitted.

AddedThe Council position at first reading reflects the agreement reached between Parliament and the Council in interinstitutional negotiations at early second reading stage, after legal-linguistic verification. Since the Committee on Economic and Monetary Affairs (ECON), in its vote on 5 November 2025, already confirmed the outcome of those interinstitutional negotiations, as your rapporteur, I propose that ECON recommends that the Plenary confirms the position of the Council at first reading without amending it.

RemovedRecital 26: (26) To ensure that preventive measures achieve their objective, credit institutions should be required to prepare a note outlining the measures that they commit to undertake. The preparation of such note should not be too burdensome and time-consuming for the credit institution to ensure the possibility for the DGS to intervene early enough. Therefore, the note accompanying preventive measures should take the form of a sufficiently short explanatory document, which nonetheless provides sufficient details of the measures envisaged to prevent the failure of the credit institution. Such note should contain all elements which aim at preventing the outflow of funds and strengthening the capital and liquidity position of the credit institution, enabling the credit institution to comply with all the relevant prudential and other regulatory requirements on a forward-looking basis. Such note should therefore contain capital raising measures, including rules on the issuance of rights, the voluntary conversion of subordinated debt instruments, liability management exercises, capital generating sales of assets, the securitisation of portfolios, and earnings retention, including dividend bans and bans on the acquisition of stakes in undertakings. Additionally, the note should detail the credit institution’s initial capital shortfall, the capital raising measures implemented and the safeguards put in place to prevent the outflow of funds. No preventive measures should be granted to credit…

RemovedRecital 26 a (new): (26a) The competent authorities should be able to request DGSs to finance preventive measures where the competent authorities consider that those measures would enable the credit institution to restore compliance with the supervisory requirements applicable to the credit institution concerned and that are laid down in Directive 2013/36/EU and Regulation (EU) No 575/2013.

RemovedRecital 34: (34) Credit institutions may change affiliation to a DGS because they move their headquarters to another Member State or convert their subsidiary into a branch or vice versa. Article 14(3) of Directive 2014/49/EU requires that the contributions of that credit institution paid during the 12 months preceding the transfer are transferred to the other DGS in proportion to the amount of covered deposits transferred. To ensure that the transfer of contributions to the receiving DGS is not dependent on divergent national rules regarding invoicing or actual date of payment of contributions, the DGS of origin should calculate the amount to be transferred on the basis of the potential liabilities borne by the receiving DGS as a result of the transfer.

RemovedRecital 37: (37) The merger of a credit institution or the conversion of subsidiary into branch or vice versa might affect the key features of depositor protection. To avoid adverse impacts on depositors that would have deposits in both merging banks and whose claim to deposit coverage would be reduced because of changes to DGS affiliation, all depositors should be informed about such changes and should have the right to withdraw their funds without incurring any costs up to an amount equal to the total coverage of deposits.

RemovedRecital 45: (45) Directive 2014/49/EU allows Member States to recognise an IPS as a DGS if it fulfils the criteria laid down in Article 113(7) of Regulation (EU) No 575/2013 and complies with Directive 2014/49/EU. To take into account the specific business model of those IPSs, in particular the relevance of the functions at the core of their mandate that they perform in addition to the ones covered by this Directive, it is appropriate to provide for the possibility of Member States to allow IPSs to continue to perform such functions. To ensure a level playing field and preserve a high degree of protection of depositors, the functions and tasks performed in addition to the ones covered by this Directive should be financed through additional financial means, on top of the target level. IPSs should build-up a segregated fund for IPS purposes other than the functions covered by this Directive as agreed between the European Central Bank, the national competent authority and the relevant IPSs.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 1 – point a, Article 1 – paragraph 1: 1. This Directive lays down rules and procedures relating to the establishment and the functioning of deposit guarantee schemes (DGSs), the coverage and repayment of deposits, the use of DGS funds for measures that aim to ensure the access of depositors to their deposits, and the rules governing DGSs’ access to, and the exchange of information with, the EU credit line.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 2 – point -a (new), Article 2 – paragraph 1 – point 2 a (new): (-a) the following point is inserted: / ‘(2a) ‘EU credit line’ means the credit line for DGSs to the European fund established by Article X of Regulation (EU) 806/2014;

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 2 – point a a (new), Article 2 – paragraph 1 – points 6 a (new), 6 b (new) and 6 c (new): (aa) the following points are inserted : / ‘(6a) ‘retail deposit’ means a deposit that is held by a natural person or a small and medium-sized enterprise as defined in Article 5, point (8) of Regulation (EU) 575/2013; / (6b) ‘corporate deposit for payment and settlement purposes’ means a deposit held by a legal person which has all the following features: / (a) it is payable at par on demand; / (b) it is able to provide payment and settlement services; / (c) it does not bear interest; / (d) it is not a financial instrument as defined in Article 4, point (15), of Directive 2014/65/EU; / (6c) ‘other corporate deposit’ means a deposit held by a legal person which is not a corporate deposit for payment and settlement purposes”.’;

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RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 3 – point -a (new), Article 4 – paragraph 2: (-a) paragraph 2 is replaced by the following: / "2. A contractual scheme as referred to in point (b) of Article 1(2) of this Directive may be officially recognised as a DGS if it complies with this Directive. / Member States shall ensure that an IPS that is recognised as a DGS pursuant to this paragraph shall segregate its available financial means which are subject to a target level in accordance with Article 10(2) of this Directive from the funding arrangements entered into with a view to fulfilling its purposes as referred to in Article 113(7) of Regulation (EU) No 575/2013."

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RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 3 – point a, Article 4 – paragraph 4: 4. Members States shall ensure that where a credit institution does not comply with its obligations as a member of a DGS, that DGS shall immediately notify the designated authority and the competent authority of that credit institution thereof. / Member States shall ensure that the designated authority promptly takes all appropriate measures, including, if necessary, the imposition of penalties, to ensure that credit institutions comply with their obligations as members of a DGS. / Member States shall lay down rules on penalties applicable in the event of infringements by credit institutions of the obligations incumbent on them as a member of a DGS. The penalties shall be effective, proportionate and dissuasive.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 3 – point c, Article 4 – paragraph 6: 6. Member States shall ensure that where the competent authority decides to withdraw the authorisation in accordance with Article 18 of Directive 2013/36/EU, the credit institution ceases to be a member of the DGS. Member States shall ensure that deposits held on the date on which a credit institution ceased to be a member of the DGS continue to be covered by that DGS for a maximum period of six months. Member States shall ensure that depositors of a credit institution that ceased to be a member of the DGS are duly informed of the consequences thereof and can, without bearing any costs, transfer their deposits to another institution which is a member of the same DGS.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 3 – point c a (new), Article 4 – paragraph 7 – subparagraph 2 a (new): (ca) in paragraph 7, the following subparagraph is added: / ‘The designated authorities shall have the necessary enforcement powers, including powers to impose penalties or other administrative measures, to remedy infringements of this Directive.’;

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 3 – point e, Article 4 – paragraph 13: 13. EBA shall develop draft regulatory technical standards on the scope, contents and procedures of the stress tests referred to in paragraph 10. / EBA shall submit those draft regulatory technical standards to the Commission by … [24 months after the date of entry into force of this amending Directive]. / Power is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 4 – point a – point v a (new), Article 5 – paragraph 1 – point k a (new): (va) the following point is added: / "(k a) deposits by persons or legal entities subject to targeted financial sanctions adopted by the Union."

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RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 5 – point a – point i, Article 6 – paragraph 2 – introductory part: ‘In addition to paragraph 1, Member States shall ensure that the following deposits are protected to an amount of EUR 500 000 for 6 months after that amount has been credited or from the moment when such deposits become legally transferable:’;

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 5 – point b, Article 6 – paragraph 2a: deleted

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 6 – point a a (new), Article 7 – paragraph 6: (aa) paragraph 6 is replaced by the following: / "6. Member States shall ensure that credit institutions report to their DGSs, at least annually, the aggregated amount of eligible deposits. Member States shall ensure that DGSs may at any time request credit institutions to inform them about the aggregated amount of eligible deposits of every depositor."

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RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 8 – point -a (new), Article 8 – paragraph 1: (-a) paragraph 1 is replaced by the following: / "1. DGSs shall ensure that the repayable amount is available as soon as possible and in any case in less than seven working days from the date on which a relevant administrative authority makes a determination as referred to in point (8)(a) of Article 2(1) or a judicial authority makes a ruling as referred to in point (8)(b) of Article 2(1)."

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RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 8 – point -a a (new), Article 8 – paragraph 2: (-aa) paragraph 2 is deleted;

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RemovedArticle 8(2) of Directive 2014/49/EU lays down a possibility for Member States to establish repayment periods of up to 20 working days until 31 December 2018, 15 working days from 1 January 2019 until 31 December 2020, and 10 working days from 1 January 2021 until 31 December 2023. By the time of the entry into force of the amended Directive Article 8(2) will have ceased to produce legal effects.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 8 – point a, Article 8 – paragraph 3: ‘3. By way of derogation from paragraph 1, Member States shall allow DGSs to apply a longer repayment period for the deposits referred to in Article 6(2), Article 7(3) and Article 8b, which shall not exceed 20 working days from the date on which those DGSs received the complete documentation they requested from a depositor to examine the claims and verify that the conditions for repayment are met. For the deposits referred to in Article 6(2) and Article 7(3), where DGSs are not able to make the repayable amount available in less than seven working days, they shall ensure that depositors have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of making a request for that amount.’;

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 8 – point a a (new), Article 8 – paragraph 4: (aa) paragraph 4 is deleted;

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RemovedArticle 8(4) of Directive 2014/49/EU lays down rules applicable during a transitional period until 31 December 2023, setting out the obligation of DGSs to ensure that depositors have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request, where DGSs cannot make the repayable amount available within seven working days. By the time of the entry into force of the amended Directive Article 8(4) will have ceased to produce legal effects.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 9, Article 8b – paragraph 1 – point a: (a) such deposits are placed on behalf and exclusively for the account of clients who are eligible for protection in accordance with Article 5(1);

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 9, Article 8b – paragraph 3: 3. Member States shall ensure that DGSs repay covered deposits to the client directly.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 9, Article 8b – paragraph 4 – subparagraph 1 – point b: deleted

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 10, Article 9 – paragraph 2: 2. Without prejudice to rights they may have under national law, DGSs that make payments under guarantee within a national framework shall have the right of subrogation to the rights of depositors in winding up or reorganisation proceedings for an amount equal to the DGSs payments made to depositors. DGSs that make a contribution in the context of the resolution tools referred to in Article 37(3), point (a) or (b), of Directive 2014/59/EU, or in the context of measures taken in accordance with Article 11(5) of this Directive, shall have a claim against the residual credit institution for any loss incurred as a result of any contributions made to resolution pursuant to Article 109 of Directive 2014/59/EU or to the transfer made pursuant to Article 11(5) of this Directive for an amount equal to their contribution. That claim shall rank at the same level as deposits under national law governing normal insolvency proceedings.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 11 – point a – point -i (new), Article 10 – paragraph 2 – subparagraph 1: (-i) the first subparagraph is replaced by the following: / "Member States shall ensure that, by ... [18 months after the date of entry into force of this amending Directive], the available financial means of a DGS shall at least reach and maintain a target level of 1 % of the amount of the covered deposits of its members."

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