Abstract
Deposit Guarantee Schemes (DGSs) play a crucial role in banking crisis management. In cases of bank insolvency, DGSs intervene to reimburse depositors who are the weakest subjects in the creditor category and often do not possess adequate information tools to assess how robust their bank might be.
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Notes
On objectives, purposes and diffusion of deposit guarantee see, D. Diamond and P. Dybvig, Banking Theory, Deposit Insurance, and Bank Regulation, The Journal of Business, 1986, Vol. 59, No. 1, pp. 55–68;
A. Demirgüç-Kunt and E.J. Kane. Deposit Insurance Around the Globe: Where Does It Work?, Journal of Economic Perspectives, 2002, 175–95.
Financial Stability Board, Thematic Review on Deposit Insurance Systems — Peer review report, 8 February 2012; IADI Data and Survey Committee presentation, IADI Annual Survey Key Results, October 2014.
J. Pruski, The role of the deposit insurer in bank resolution, speech at the “FSI-IADI Seminar on Bank Resolution, Crisis Management and Deposit Insurance Issues”, Basel, 9–11 September 2014.
D. Schoenmaker and D. Gros, A European Deposit Insurance and Resolution Fund: An Update, DSF Policy Paper Series, September 2012.
V. Constancio, Banking Union and European Integration, Speech held at the OeNB Economics Conference, Vienne, 12 May 2014; I. Visco, Il completamento dell’Unione Bancaria e il finanziamento dell’economia reale, (in Italian only) — translation of the title “The completion of the Banking Union and the financing of the real economy”), according to which “the decision to harmonise the deposit guarantee schemes adopted by the various Member States is a step in the right direction, even if only with the creation of a single deposit guarantee scheme for the Banking Union countries, can you really ensure equal treatment of depositors, regardless of their residence, and the residence of the banks to which they decide to entrust their savings”.
International Association of Deposit Insurers, Core Principles for Effective Deposit Insurance Systems, November 2014.
For a detailed analysis of the policy and regulatory aspects of the new directive, C.V. Gortsos, The new EU Directive (2014/49/EU) on Deposit Guarantee Schemes, ECEFIL (European Center of Economic and Financial Law), Working Paper Series, no. 10, October 2014.
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© 2016 Giuseppe Boccuzzi
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Boccuzzi, G. (2016). The Third Pillar of the Banking Union: The Pan-European Deposit Guarantee Scheme. In: The European Banking Union. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137555656_6
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DOI: https://doi.org/10.1057/9781137555656_6
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