Question ID
2018_3701
Legal act
Directive 2014/59/EU (BRRD)
Topic
Interactions with the DGS and the BRRD
Article
88
Paragraph
2
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Not applicable
Article/Paragraph
n.a.
Type of submitter
Competent authority
Subject matter
Clarification on the authority responsible for the DGS
Question

Which exactly is the authority responsible for the DGS referred to in Article 88?

Background on the question

Article 88(2)(g) of Directive 2014/59/EU (BRRD) provides that “the authority that is responsible for the deposit guarantee scheme” should be a member of the resolution college."

Please clarify whether the authority referred to in Article 88 is the designated authority under Article 2(1)(18) of the DGSD or the relevant administrative authority under Article 3 of the DGSD or else.

Submission date
Final publishing date
Final answer

Article 88(2)(g) of Directive 2014/59/EU (BRRD) refers to the designated authority as defined under Article 2(1)(18) of DGSD as it administers or supervises the scheme.

Disclaimer:

This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.

Status
Final Q&A
Answer prepared by
Answer prepared by the European Commission because it is a matter of interpretation of Union law.
Note to Q&A

Update 26.03.2021: This Q&A has been reviewed in the light of the changes introduced to Directive 2014/59/EU (BRRD) and continues to be relevant.

Disclaimer

The Q&A refers to the provisions in force on the day of their publication. The EBA does not systematically review published Q&As following the amendment of legislative acts. Users of the Q&A tool should therefore check the date of publication of the Q&A and whether the provisions referred to in the answer remain the same.