Bank Regulator Pushes Forward EU Deposit Guarantee Plans
Law360, London (August 8, 2019, 1:20 PM BST) -- Europe’s banking watchdog set out its latest move on Thursday toward completing a bloc-wide European deposit insurance scheme, which will protect consumers' cash if a lender goes bust.
The European Banking Authority has used an opinion paper to propose amendments to the directive for bank deposit guarantee schemes that it wants the European Commission to consider. The EBA has made 48 proposals that it hopes will strengthen the directive and make the bloc more resilient to financial shocks.
Rules for a European Deposit Guarantee Scheme were set out by the European Commission in November 2015, but progress has stalled. The commission has proposed...
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