DGSD 2: EBA publishes guidelines on cooperation agreements

The EBA has published final guidelines on cooperation agreements between deposit guarantee schemes, as provided for under the recast Deposit Guarantee Schemes Directive (DGSD 2). The guidelines specify details of the sequence of events when a local deposit guarantee scheme (DGS) performs a payout on behalf of a DGS in another Member State and the objectives and minimum content of cooperation agreements in relation to:

• repayments to depositors by a local DGS at branches of banks established in other Member States;
• transferring contributions from one DGS to another in cases where a credit institution ceases to be a member of a DGS and joins another DGS; and
• mutual lending between DGSs.

The guidelines are intended to facilitate the EBA's mediation role set out in DGSD 2, in instances where DGSs cannot reach an agreement or are in dispute.

The guidelines will be translated into the official EU languages and will apply six months after the translations are published on the EBA's website. National competent authorities will have two months following publication to inform the EBA whether they intend to comply with the guidelines.