EBA欧洲银行-EBA-GL-2016-02_-GL-on-DGS-cooperation-agreements_EN_18页_384kb

EBA Guidelines on Cooperation Agreements between Deposit Guarantee Schemes (EBA/GL/2016/02)

Core Content

These guidelines, issued under Article 16 of Regulation (EU) No 1093/2010, outline the supervisory practices and minimum requirements for cooperation agreements between Deposit Guarantee Schemes (DGSs) and designated authorities in the context of Directive 2014/49/EU. The aim is to ensure a consistent and effective approach across EU Member States, supporting the stability and coordination of the European system of DGSs.

Main Objectives

• Facilitate effective cooperation between DGSs and designated authorities.
• Specify ex ante aspects of depositor payouts, transfers of DGS contributions, and mutual lending to avoid last-minute decisions during financial stress.
• Ensure transparency and efficiency in cross-border and domestic operations of DGSs.

Key Areas Covered in Cooperation Agreements

The cooperation agreements must cover three key areas:

1. Modalities for repaying depositors at branches
2. Transfer of DGS contributions and information between DGSs
3. Mutual lending between DGSs

Reporting Obligations

• Competent authorities must notify the EBA by 08/08/2016 whether they comply with the guidelines or provide reasons for non-compliance.
• Notifications must be submitted via the EBA website using the form available at compliance@eba.europa.eu with the reference 'EBA/GL/2016/02'.
• Any change in compliance status must also be reported to the EBA.

Definitions

• Home DGS: The DGS in the Member State where a credit institution is authorised.
• Host DGS: The DGS in the Member State where a branch of a home DGS's credit institution is located.
• Member credit institution: A credit institution affiliated with a DGS.
• Relevant DGSs: DGSs involved in situations such as cross-border branches, membership changes, or cross-border lending.
• Single Customer View (SCV): A file containing depositor information for preparing payouts.
• Currency of repayment: Determined by the home DGS's law, with the host DGS able to use the host's currency if agreed.

Implementation and Application

• The guidelines must be implemented by 08/12/2016.
• They apply to all DGSs and designated authorities required to have cooperation agreements under Article 14(5) of Directive 2014/49/EU.
• If a DGS is administered by a private entity, designated authorities must ensure the guidelines are applied.

Minimum Core Elements

a. Notification of Unavailability of Deposits

• The home DGS must notify the host DGS immediately upon determining unavailability of deposits.
• The notification should include details about the institution, expected payout, covered deposits, eligible depositors, and currency.
• The host DGS should prepare for payouts as soon as the notification is received.

b. Exchange of Information, Including Instructions for Payment

• The home DGS must provide the host DGS with necessary information within two working days of the home DGS's deadline for domestic payouts.
• The information should include payout amounts and methods (e.g., addresses, bank account numbers).
• The host DGS should inform the home DGS of any issues during the payout process.

c. Modalities for Advancing the Funds

• The host DGS must provide the home DGS with the necessary account and transfer details promptly.
• The transfer must ensure fund security and timeliness.

d. Timeline for Advancing the Funds

• The home DGS must provide the necessary funds to the host DGS no later than the day the repayable amount should be available to domestic depositors.
• Any excess funds advanced should be refunded within three working days of the host DGS's Member State after the payout is finalised.

e. Partial Payouts in the Transitional Period (until 31 December 2023)

• If the home DGS's payout deadline is longer than seven working days, the host DGS should inform depositors of the possibility of a partial payout.
• The host DGS must notify the home DGS within one working day of any depositor request for partial payout.
• The home DGS should provide the host DGS with necessary information and funds within five working days of the request.

f. Currencies Used

• Repayment currency is determined by the home DGS's law and communicated to the host DGS.
• If the home DGS allows a choice of currencies, the host's currency should be used primarily.
• Currency exchange should be done at the spot rate published by the home DGS's central bank on the day of unavailability determination.
• The home DGS bears the costs of currency exchange.

g. Handling of Correspondence and Language

• The host DGS handles communication with depositors on behalf of the home DGS.
• The host DGS should use its official language(s) for communication with depositors.
• Both DGSs may communicate in the home DGS's language if they have the capability.
• Communication between DGSs should be in English, unless otherwise agreed.

h. Reimbursement of Costs of Repayment

• The home DGS must reimburse the host DGS for costs related to payout activities.
• Eligible costs must be necessary, reasonable, and documented.
• Reimbursement can be in the form of a lump sum before the payout or after, with details agreed within seven days of the initial payout.

i. Right to Audit

• DGSs may agree to mutual audit rights to ensure transparency and trust.
• Audits may include on-site or remote reviews, staff secondment, or post-payout assessments.

j. Treatment of Delays

• Delays in providing instructions or funds should be borne by the home DGS.
• If delays are due to the host DGS, it must cover the resulting costs.

k. Liability

• The host DGS is not liable for actions taken in accordance with the home DGS's instructions.

Review of Practical Arrangements

• DGSs may review and adjust their practical arrangements for payouts no earlier than three months after the notification of unavailability of deposits.

Transfer of Contributions and Information

• The transferring DGS must notify the receiving DGS of the institution's intention to join before it formally leaves.
• The information exchange must include aggregate data on contributions, data quality assessments, and any relevant near misses.
• The transferring DGS provides funds in the original currency, and the receiving DGS bears currency exchange costs.
• The transfer of financial means for the last 12 months of membership must be decided by the transferring DGS in agreement with the credit institution and the receiving DGS.

Conclusion

These guidelines ensure a structured and consistent approach to cross-border cooperation between DGSs, aiming to enhance the effectiveness and reliability of deposit guarantee systems across the EU. They provide a comprehensive framework for communication, information exchange, fund transfers, and liability, with flexibility for bilateral or multilateral agreements where necessary.