The authority that is responsible for the deposit guarantee scheme of a Member State pursuant to Article 88(2)(g) BRRD is to be understood to be the “designated authority” as defined in Article 2(1)(18) DGSD. To that purpose, the “designated authority” means a body which administers a DGS pursuant to the DGSD, or, where the operation of the DGS is administered by a private entity, a public authority designated by the Member State concerned for supervising it pursuant to the DGSD.

Disclaimer:

The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.