28 April 2023
The European Banking Authority (EBA) today published end-2022 data related to two key concepts and indicators in the Deposit Guarantee Schemes Directive (DGSD), namely available financial means (AFMs) and covered deposits. The EBA publishes these data for the deposit guarantee scheme (DGS) in each Member State on a yearly basis to enhance the transparency and public accountability of DGSs across the EEA to the benefit of depositors, markets, policymakers, DGSs and Members States.
Under the DGSD, covered deposits are guaranteed up to 100,000 Euro or the equivalent in other currencies per depositor at each bank. The data as of 31 December 2022 shows that, compared to 2021, the amount of covered deposits across the EEA increased by 2.5%, which is lower than the increases of 7.4% in 2021, 8.6% in 2020 and 5.6% percent in 2019.
In parallel, EEA DGSs are obliged to raise funds from credit institution for the main purpose of reimbursing depositors in case of bank failures. The end-2022 data shows that most of the EEA DGSs continued raising contributions from the banks to reach the minimum target level applicable to all national DGSs imposed by the Deposit Guarantee Schemes Directive (DGSD). DGSs have until July 2024 to reach the minimum target level which in most cases is 0.8% of covered deposits. Exactly half of the 36 EEA DGSs have already done so ahead of the deadline.