What changed between the adopted text of 24 Apr 2024 and the adopted text of 26 Mar 2026

Removed:‘(c) by way of derogation from paragraph 9, there has been no transaction relating to the deposit during the last 24 months (the account is dormant), except where a depositor also has deposits on another account that is not dormant’;

Removed:(ii) point (d) is deleted;

Removed:(c) paragraph 8 is deleted;

Removed:(d) paragraph 9 is replaced by the following:

Removed:‘9. Member States shall ensure that where there has been no transaction relating to the deposit during the last 24 months, DGSs may set a threshold concerning the administrative costs that would be incurred by those DGSs in making such a repayment. DGSs shall not be obliged to take active steps to repay depositors below that threshold. Member States shall ensure that DGSs repay depositors below that threshold where so requested by those depositors.’;

Removed:(9) the following Articles 8a, 8b and 8c are inserted:

Removed:‘Article 8a

Removed:Repayment of deposits exceeding EUR 10 000

Removed:Member States shall ensure that when amounts to be reimbursed exceed EUR 10 000, DGSs shall reimburse depositors via credit transfers as defined in Article 2, point (20), of Directive 2014/92/EU of the European Parliament and of the Council*.

Removed:‘Article 8b

Removed:Coverage of client funds deposits

Removed:1. Member States shall ensure that client funds deposits are covered by the DGSs where all of the following applies:

Removed:(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);

Removed:(b) such deposits are made to segregate client funds in compliance with safeguarding requirements laid down in Union law regulating the activities of the entities referred to in Article 5(1), point (d);

Removed:(c) the clients referred to in point (a) are identified or identifiable, under the ultimate responsibility of the entity holding the account on behalf of clients, prior to the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a) or a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b).

Removed:2. Member States shall ensure that the coverage level referred to in Article 6(1) applies to each of the clients that meet the conditions laid down in paragraph 1, point (c), of this Article. By way of derogation from Article 7(1), when determining the repayable amount for an individual client, the DGS shall not take into account the aggregate fund deposits placed by that client with the same credit institution.

Removed:3. Member States shall ensure that DGSs’ repayments of covered deposits are made ▌to the client directly.

Removed:4. The EBA shall develop draft regulatory technical standards to specify:

Removed:(a) the technical details related to the identification of clients for the repayment in accordance with Article 8;

Removed:▌

Removed:(c) the rules to avoid multiple claims for payouts to the same beneficiary.

Removed:When developing those draft regulatory technical standards, EBA shall take into account all of the following:

Removed:(a) the specificities of the business model of the different types of financial institutions referred to in Article 5(1), point (d);

Removed:(b) the specific requirements of the applicable Union law regulating the activities of the financial institutions referred to in Article 5(1), point (d), for the treatment of client funds.

Removed:The EBA shall submit those draft regulatory technical standards to the Commission by … [OP – please insert the date= 12 months after the date of entry into force of this Directive].

Removed: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.

Removed:Article 8c

Removed:Suspension of repayments in case of concerns about money laundering or terrorist financing

Removed:1. Member States shall ensure that the designated authority informs the DGS within 24 hours from the moment the designated authority received the information referred to in Article 48(4) of [please insert reference – proposal for a Anti-Money Laundering Directive repealing Directive (EU) 2015/849 - COM(2021) 423 final] about the outcome of the customer due diligence measures referred to in Article 15(4) of Regulation (EU) …. [please insert short reference – proposal for Anti-Money Laundering Regulation - COM/2021/420 final]. Member States shall ensure that the information exchanged between the designated authority and the DGS is limited to the information that is strictly necessary for the exercise of the DGS’ tasks and responsibilities under this Directive and that such exchange of information respects the requirements laid down in Directive 96/9/EC of the European Parliament and of the Council**.

Removed:2. Member States shall ensure that DGSs suspend the repayment referred to in Article 8(1) where a depositor or any person entitled to sums held in his or her account has been charged with an offence arising out of, or in relation to, money laundering or terrorist financing, pending the judgment of the court.

Removed:3. Member States shall ensure that DGSs suspend the repayment referred to in Article 8(1) for the same duration as laid down in Article 20 of [please insert short reference – proposal for a Anti-Money Laundering Directive repealing Directive (EU) 2015/849 - COM(2021) 423 final] where they are notified by the Financial Intelligence Unit referred to in Article 32 of Directive (EU) [please insert reference – proposal for a Anti-Money Laundering Directive repealing Directive (EU) 2015/849 - COM(2021) 423 final] that that Unit has decided to suspend a transaction or to withhold consent to proceed with such a transaction, or to suspend a bank or a payment account in accordance with Article 20(1) or (2) of Directive (EU) [please insert reference – proposal for a Anti-Money Laundering Directive repealing Directive (EU) 2015/849 - COM(2021) 423 final].

Removed:4. Member States shall ensure that DGSs are not held liable for any measures taken in accordance with the instructions of the Financial Intelligence Unit. DGSs shall use any information received from the Financial Intelligence Unit for the purposes of this Directive only.

Removed:____________________________________________

Removed:* Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (OJ L 257, 28.8.2014, p. 214).

Removed:** Directive 96/9/EC of the European Parliament and of the Council of 11 March 1996 on the legal protection of databases (OJ L 77, 27.3.1996, p. 20).’;

Removed:(10) in Article 9, paragraphs 2 and 3 are replaced by the following:

Removed:‘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 provided that the residual credit institution is wound up. ▌ That claim shall rank at the same level as covered deposits under national law governing normal insolvency proceedings.

Removed:3. Member States shall ensure that depositors whose deposits have not been repaid or acknowledged by the DGS by deadlines laid down in Article 8(1) and (3) can claim the repayment of their deposits within a period of 5 years.’;

Removed:(11) Article 10 is amended as follows:

Removed:(a) paragraph 2, is amended as follows:

Removed:(i) after the first subparagraph, the following subparagraphs are inserted:

Removed:‘For the calculation of the target level referred to in the first subparagraph, the reference period shall be between 31 December preceding the date by which the target level is to be reached and that date.

Removed:When determining whether the DGS has reached that target level, Member States shall only take into account available financial means directly contributed by, or recovered from, members to the DGS, net of administrative fees and charges. Those available financial means shall include investment income derived from funds contributed by members to the DGS, but shall exclude repayments not claimed by eligible depositors during payout procedures, any debt liabilities due by the DGS, including loans from other DGSs and alternative funding arrangements as referred to in Article 10(9). An outstanding loan to another DGS under Article 12 shall be treated as an asset of the DGS which provided the loan and may be counted towards that DGS’s target level.’;

Removed:(ii) the third subparagraph is replaced by the following:

Removed:‘Where, after the target level referred to in the first subparagraph has been reached for the first time and the available financial means, following a disbursement of DGS’s funds in accordance with Article 8(1), and Article 11(2), (3), and (5), have been reduced to less than two-thirds of the target level, DGSs shall set the regular contribution at a level allowing for the target level to be reached within four years.

Removed:Where, after the target level referred to in the first subparagraph has been reached for the first time and the available financial means, following a disbursement of DGS’s funds in accordance with Article 8(1) and Article 11(2), (3), and (5), have been reduced by less than one third of the target level, DGSs shall set the regular contribution at a level allowing for the target level to be reached within two years.’;

Removed:(iia) the fifth subparagraph is replaced by the following:

Removed:‘Member States may extend the initial period referred to in the first subparagraph for a maximum of four years if the DGS has made cumulative disbursements in excess of 0,8 % of covered deposits to repay depositors.’;

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

Removed:‘3. The available financial means that the DGS takes into account to reach the target level referred to in paragraph 2 may include payment commitments, payable within 48 hours upon the request of the DGS. The total share of such payment commitments shall not exceed 30 % of the total amount of available financial means raised in accordance with paragraph 2.

Removed:The EBA shall issue guidelines on payment commitments laying down criteria for the admissibility of those commitments;’

Removed:(c) paragraph 4 is deleted;

Removed:(d) paragraph 7 is replaced by the following:

Removed:‘7. Member State shall ensure that DGSs, designated authorities, or competent authorities set the investment strategy for the available financial means of DGSs, and that that investment strategy complies with the principle of diversification and investments in low-risk and liquid assets.

Removed:Member States shall ensure that the investment strategy referred to in the first subparagraph of this paragraph complies with the principles laid down in Articles 4, 8 and 10 of Commission Delegated Regulation (EU) 2016/451*.

Removed:_______________

Removed:* Commission Delegated Regulation (EU) 2016/451 of 16 December 2015 laying down general principles and criteria for the investment strategy and rules for the administration of the Single Resolution Fund (OJ L 79, 30.3.2016, p. 2).’;

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

Removed:‘7a. Member States shall ensure that DGSs may place all or part of their available financial means with their national central bank or national treasury, provided that it is a cost-effective decision for the DGS and those available financial means are kept on a segregated account and that they are readily available for use by the DGS in accordance with Articles 11 and 12.’;

Removed:(ea) paragraph 9 is replaced by the following: