EBA updates data on Deposit Guarantee Schemes across the EEA

The European Banking Authority (EBA) published today 2020 data relating to two key concepts and indicators in the Deposit Guarantee Schemes Directive (DGSD): available financial means, and covered deposits. The EBA publishes this data on a yearly basis to enhance the transparency and public accountability of deposit guarantee schemes (DGSs) across the European Economic Area (EEA) to the benefit of depositors, markets, policymakers, DGSs and Members States.

AFM is the amount of funds raised by DGSs from credit institutions and its main purpose is to reimburse depositors in case of bank failures. The data as of 31 December 2020 shows that 34 of 36 DGSs in EU Member States, Iceland, Lichtenstein and Norway had increased their funds since the previous year by more than 12%*. In general, the increase stems from levies paid by banks that are members of those DGSs. In some cases, a significant increase in AFM in 2020 was the result of the DGS receiving recoveries from a previous intervention. In other instances, DGSs experienced a significant drop in AFM following bank failures where they had to use their AFM to reimburse depositors.

For more information, access to the original publication.