EBA · 2017_3114 Rejected question

Deposits referred to the in Article 7(8) DGSD

Regulation
Directive 2014/59/EU (BRRD)
Article
43, 108, para. 2
Topic
Interactions with the DGS and the BRRD
Submitted by
Competent authority
Submitted
2017-01-20
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Question

Should the “deposits fulfilling a social purpose defined by national law, for which a third party has given a guarantee” referred to in Article 7(8) of Directive 2014/49/EU (DGSD) be considered as covered deposits or as a secured liability referred to in Article 43(2)(b) of Directive 2014/59/EU (BRRD) ? If not, what may be their ranking in insolvency proceedings referred to in Article 108 of BRRD?

Background

We seek clarifications on the interactions between the DGS and the BRRD. We wish to ascertain what form the “deposits” referred to the in Article 7(8) of the DGSD take in accordance with the BRRD.
No answer published yet.

Original source: European Banking Authority, Q&A ID 2017_3114

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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