Changes from report parliamentary committee draft to report parliamentary committee draft

RemovedArticle 1 – paragraph 1 – point 13, Article 11d – title: Alternative measures

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13, Article 11d – paragraph 1 – introductory part: 1. Member States shall enable the use of DGS funds for the alternative measures referred to in Article 11(5). Member States shall ensure that when DGSs finance such measures the credit institutions market, or make arrangements for the marketing of, the assets, rights and liabilities those credit institutions intend to transfer. Without prejudice to the Union State aid framework, such marketing shall comply with all of the following:

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13, Article 11d – paragraph 1 a (new): 1a. Member States shall ensure that no alternative measures financed by DGSs are undertaken before the requirements set out in Article 11b(3b) are met.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13 a (new), Article 12 – title: (13a) the title of Article 12 is amended as follows: / "DGSs facing a liquidity shortfall"

Removed(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0049)

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13 b (new), Article 12 – paragraph 1: (13b) in Article 12, paragraph 1 is replaced by the following: / "1. Member States shall ensure that where a DGS faces a liquidity shortfall, it can access the EU credit line . The requesting DGS shall inform EBA and the SRB without delay and state the reasons why and the amount of money requested to address its liquidity shortfall. Member States shall ensure that the DGS informs the SRB as soon as it anticipates a risk of a liquidity shortfall. / (deleted) / (deleted) / (deleted) / (deleted) / (deleted) / (deleted) / (deleted) / 1a. Where a DGS has exhausted its recourse to the EU credit line , Member States shall ensure that DGSs located in other Member States provide the DGS with the liquidity shortfall with the necessary financial means to perform its functions in accordance with Article 11. / 1b. The liquidity shortfall referred to in paragraph 1 shall be calculated as the total amount of covered deposits that is held by the credit institution at the time of the payout event or the amount of the available financial means used by the DGS to finance preventive or alternative measures as referred to in Article 11(3) and (5), minus the following: / (a) the amount of available financial means the DGS has raised in accordance with Article 10 (1); / (b) the amount of extraordinary contributions within the meaning of Article 10(8) that the DGS can raise within three days of the payout event or the amount of alternative funding arrangements and ex-post contributions that the DGS …

Removed(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0049)

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13 c (new), Article 12 – paragraph 2: (13c) Article 12(2) is replaced by the following: / "2. The loan referred to in paragraph 1a shall be subject to the following conditions: / (c) the lending DGS must inform EBA and the SRB of the initial interest rate and the duration of the loan."

Removed(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0049)

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13 d (new), Article 12 – paragraph 3: (13d) Article 12(3) is replaced by the following: / "3. Member States shall ensure that the contributions levied by the borrowing DGS are sufficient to reimburse the lending DGSs and the EU credit line with the amount borrowed and to re-establish the target level as soon as possible and in any event in less than six years."

Removed(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0049)

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13 e (new), Article 13 – paragraph 1 – subparagraph 3: (13e) in Article 13(1), the third subparagraph is deleted.

Removed(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0049)

RemovedThe current text of Article 13(1), third subparagraph of Directive 2014/49/EU reads as follows: “Member States may decide that members of an IPS pay lower contributions to the DGS.”. This possibility should be eliminated.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 13 f (new), Article 13 – paragraph 3: (13f) Article 13(3) is replaced by the following: / "3. In order to ensure consistent application of this Directive, EBA shall, develop draft regulatory technical standards to specify methods for calculating the contributions to DGSs in accordance with paragraphs 1 and 2 of this Article. / EBA shall submit those draft regulatory technical standards to the Commission by … [12 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." / (deleted)

Removed(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0049)

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 14 – point b, Article 14 – paragraph 2 – subparagraph 3 – point ii a (new): (iia) the repayment is made in the same currency as it would have been if the reimbursement had been conducted in accordance with the first subparagraph.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 14 – point d, Article 14 – paragraph 3: 3. Member States shall ensure that where a credit institution ceases to be member of a DGS and joins a DGS of another Member State, or if some of the credit institution’s activities are transferred to a DGS of another Member State, the DGS of origin shall transfer to the receiving DGS an amount that reflects the additional potential liabilities borne by the receiving DGS as a result of the transfer, taking into account the impact of the transfer on the financial situation of both DGSs relative to the risks they cover. / EBA shall develop draft regulatory technical standards to specify the methodology for the calculation of the amount to be transferred to ensure a neutral impact of the transfer on the financial situation of both DGSs relative to the risks they cover. / EBA shall submit those draft regulatory technical standards to the Commission by ... [12 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 second subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 14 – point f, Article 14 – paragraph 9: ‘9. By ... [24 months after the date of entry into force of this amending Directive], the EBA shall issue guidelines on the respective roles of home and host DGSs as referred to in paragraph 2, including a list of circumstances and conditions under which a DGS of the home Member State to reimburse depositors at branches located in another Member State as laid down paragraph 2, third subparagraph.’;

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 15, Article 15 – paraghraph 1 a (new): Member States shall ensure that such branches contribute to the DGS, in accordance with Article 13.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 17 – point f, Article 16 – paragraph 6 – subparagraph 2: Member States shall ensure that, where as a result of operations referred to in the first subparagraph, depositors with deposits in those credit institutions will be affected by the reduced deposit protection, the credit institutions concerned notify those depositors that they may withdraw or transfer to another credit institution their eligible deposits, including all accrued interest and benefits, without incurring any cost up to an amount equal to the total coverage of their deposits within 3 months following the notification referred to in the first subparagraph.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 17 – point f, Article 16 – paragraph 7: 7. Member States shall ensure that credit institutions that cease to be a member of a DGS inform their depositors thereof at least 1 month prior to such cession. That information shall include an explanation of the impact on depositor protection. Member States shall ensure that depositors of a credit institution that ceased to be a member of the DGS can transfer their deposits to another institution member of the same DGS without bearing any transfer costs.’;

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 18, Article 16a – paragraph 1: 1. Member States shall ensure that DGSs receive at least annually and at any time upon request, from their affiliated credit institutions all information necessary to prepare for a repayment of depositors, in accordance with the identification requirement laid down in Article 5(4), including the information for the purposes of Article 8(5) and Articles 8b and 8c.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 18, Article 16a – paragraph 2 – subparagraph 1 – introductory part: Member States shall ensure that credit institutions provide at least annually and at any time upon request, the DGS of which they are a member information about:

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 18, Article 16a – paragraph 3: 3. Member States shall ensure that, by 31 March each year, DGSs inform the EBA and the SRB of the amount of covered deposits in their Member State on 31 December of the preceding year. By the same date, DGSs shall also report to the EBA and the SRB the amount of their available financial means, including the share of borrowed resources, payment commitments and the timeline for reaching the target level in case of use of DGS funds.

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 18, Article 16a – paragraph 4 – subparagraph 1 – introductory part: Member States shall ensure that the designated authorities notify the EBA and the SRB, without undue delay, about all of the following:

RemovedDirective 2014/49/EU

RemovedArticle 1 – paragraph 1 – point 18, Article 16a – paragraph 4 – subparagraph 2 – point b: (b) the measures for which the DGS funds have been used, including the specific instruments that have been used for the measures referred to in Article 11(2), (3) and (5).

RemovedArticle 2 – paragraph 2: deleted

RemovedArticle 3 – paragraph 1 – subparagraph 2: They shall apply those provisions from … [OP – please insert the date = 24 months after the date of entry into force of this Directive]. However, they shall apply the provisions necessary to comply with Article 11(3), as amended by this Directive, and Articles 11a, 11b, 11c and 11e in relation to preventive measures from … [PO – please insert the date = 36 months after the date of entry into force of this Directive].