Changes from adopted text to adopted text

RemovedEBA shall submit those draft regulatory technical standards to the Commission by … [12 months from the date of entry into force of this amending Directive].

RemovedPower 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.’;

Removed(14) Article 14 is amended as follows:

Removed(a) paragraph 1 is replaced by the following:

Removed‘1. Member States shall ensure that DGSs cover the depositors at branches set up by their member credit institutions in other Member States and depositors located in Member States where their member credit institutions exercise the freedom to provide services as referred to in Title V, Chapter 3, of Directive 2013/36/EU.’;

Removed(b) in paragraph 2, the following subparagraph is added:

Removed‘By way of derogation from the first subparagraph, Member States shall ensure that a DGS of the home Member State may decide to repay depositors at branches directly where all of the following applies:

Removed(i) the administrative burden and cost of such repayment is lower than the repayment by a DGS of the host Member State;

Removed(ii) the DGS of the home Member State ensures that the depositors are not worse off than where the reimbursement would have been conducted in accordance with the first subparagraph;

Removed(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.’;

Removed(c) the following paragraphs 2a and 2b are inserted:

Removed‘2a. Member States shall ensure that a DGS of a host Member State may, subject to an agreement with a DGS of a home Member State, act as the point of contact for depositors at credit institutions that exercise the freedom to provide services as referred to in Title V, Chapter 3, of Directive 2013/36/EU, and shall be compensated for the costs incurred.

Removed2b. In the cases referred to in paragraphs 2 and 2a, Member States shall ensure that the DGS of the home Member State and the DGS of the host Member State concerned have an agreement in place on the payout terms and conditions, including on the compensation of any costs incurred, the contact point for depositors, the timeline and the payment method. The DGS of a home Member State shall provide the DGS of the host Member State with information on the number of depositors, the amount of covered deposits and possible relevant changes thereto.’;

Removed(d) paragraph 3 is replaced by the following:

Removed‘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 the receiving DGS and the DGS of origin relative to the risks they cover. ▌

RemovedEBA 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.

RemovedEBA shall submit those draft regulatory technical standards to the Commission by ... [12 months from the date of entry into force of this amending Directive].

RemovedPower is delegated to the Commission to supplement this Directive by adopting the regulatory technical standards referred to in the second subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council.’;

Removed(e) the following paragraph 3a is inserted:

Removed‘3a. For the purposes of paragraph 3, Member States shall ensure that the DGS of origin transfers the amount referred to in that paragraph within 1 month from the change of DGS membership.’;

Removed(f) the following paragraph 9 is added:

Removed‘9. By ... [24 months from 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 ▌reimburses depositors at branches located in another Member State as laid down paragraph 2, third subparagraph.’;

Removed(15) Article 15 is replaced by the following:

Removed‘Article 15

RemovedBranches of credit institutions that are established in third countries

RemovedMember States shall require branches of credit institutions that have their head office outside the Union to join a DGS within their territory before they allow such branches to take eligible deposits in those Member States.

RemovedMember States shall ensure that such branches contribute to the DGS, in accordance with Article 13.’;

Removed(16) the following Article 15a is inserted:

Removed‘Article 15a

RemovedMember credit institutions that have branches in third countries

RemovedMember States shall ensure that DGSs do not cover depositors at branches that have been set up in third countries by their member credit institutions, except where, subject to the approval of the designated authority, those DGSs raise corresponding contributions from the credit institutions concerned.

RemovedEBA shall issue guidelines specifying the circumstances in which designated authorities should approve the coverage of depositors at branches that have been set up in third countries by DGSs’ member credit institutions.’;

Removed(17) Article 16 is amended as follows:

Removed(a) paragraph 1 is replaced by the following:

Removed‘1. Member States shall ensure that credit institutions provide actual and intending depositors with the information those depositors need to identify the DGSs of which the credit institution and its branches are members within the Union. Credit institutions shall provide that information in the form of an information sheet prepared in a data extractable format as defined in Article 2, point (3), of Regulation (EU) XX/XXXX of the European Parliament and of the Council [ESAP Regulation]***.

Removed_______________________________________________

Removed*** Regulation (EU) XX/XXX of the European Parliament and of the Council of dd mm jj establishing a European single access point providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability.’;

Removed(b) the following paragraph 1a is inserted:

Removed‘1a. Member States shall ensure that the information sheet referred to in paragraph 1 contains all of the following:

Removed(i) basic information about the protection of deposits;

Removed(ii) contact details of the credit institution as a first point of contact for information on the content of the information sheet;

Removed(iii) coverage level for deposits as referred to in Article 6(1) and 6(2) in EUR or, where relevant, another currency;

Removed(iv) applicable exclusions from DGS protection;

Removed(v) limit of protection in relation to joint accounts;

Removed(vi) reimbursement period in case of the credit institution’s failure;

Removed(vii) currency of reimbursement;

Removed(viii) identification of the DGS responsible for protecting a deposit, including a reference to its website.’;

Removed(c) paragraph 2 is replaced by the following:

Removed‘2. Member States shall ensure that credit institutions provide the information sheet referred to in paragraph 1 before they enter into a contract on deposit-taking and, subsequently, each time there is any change to the information provided. Depositors shall acknowledge the receipt of that information sheet, unless the information is made publicly available.’;

Removed(d) in paragraph 3, the first subparagraph is replaced by the following:

Removed‘Member States shall ensure that credit institutions confirm on their depositors’ statements of account that the deposits are eligible deposits, including a reference to the information sheet referred to paragraph 1.’;

Removed(e) paragraph 4 is replaced by the following:

Removed‘4. Member States shall ensure that credit institutions make the information referred to in paragraph 1 available in the language that was agreed by the depositor and the credit institution when the account was opened or in the official language or languages of the Member State in which the branch is established.’;

Removed(f) paragraphs 6 and 7 are replaced by the following:

Removed‘6. Member States shall ensure that in the case of a merger of credit institutions, conversion of subsidiaries of a credit institution into branches, or similar operations, credit institutions notify their depositors thereof at least 1 month before that operation takes legal effect, unless the competent authority allows for a shorter deadline on the grounds of commercial secrecy or financial stability. That notification shall explain the impact of the operation on the depositor protection.

RemovedMember 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 penalty up to an amount equal to the lost coverage of their deposits within 3 months following the notification referred to in the first subparagraph.

Removed7. 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 of the cession 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.’;

Removed(g) the following paragraph 7a is inserted:

Removed‘7a. Member States shall ensure that designated authorities, DGSs and credit institutions concerned inform depositors, including by a publication on their websites, of the fact that a relevant administrative authority has made a determination as referred to in Article 2(1), point (8)(a), or a judicial authority has made a ruling as referred to in Article 2(1), point (8)(b).’;

Removed(h) paragraph 8 is replaced by the following: