The formulation of common requirements applicable to Deposit Guarantee Schemes will make it possible for Member States to organise these schemes in as flexible a manner as possible while providing uniform protection, ensuring equal stability and avoiding distortions of competition. While maintaining the same coverage level and target level and abiding by the stipulated time limits for reimbursements and terms relating to the use o funds, Member States will thus have the opportunity to adapt their Deposit Guarantee Schemes to national features of financial markets. By means of this approach, effective protection of depositors will be achieved and the stability of the financial system ensured.
The proposal and the rapporteur’s ideas were already exchanged with the shadow rapporteurs at the preliminary draft stage of this report. When drafting the report, their suggestions were incorporated in many places and taken into account accordingly in the overall approach.
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