Transfer of covered deposits as a substitute to reimbursement

Neither the BRRD nor the DGSD provide for any specific rule for this scenario. The matter of whether and in what circumstances the resolution authority can overrule a decision of the relevant authority having determined the unavailability of deposits is not governed by EU law and it is a matter of national law. The BRRD does not empower the resolution authority to overrule the relevant authority of the DGS. Disclaimer: This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.