Council published state of play on the Deposit Guarantee Schemes Directive
14 June 2011
An agreement has still to be confirmed on issues concerning the financing of Deposit Guarantee Schemes. The Presidency suggests fixing the level of ex-ante financing at 0.5% of covered deposits, and the deadline by which the target level has to be reached at 2027.
Following the working party meeting of 31 May 2011, there is now a large measure of agreement on the Presidency compromise as set out in doc 11359/11 EF 87 ECOFIN 360 CODEC 1002, which the Presidency considers the best achievable balance between the views expressed.
The Presidency expects that any outstanding reservations on any other issues will be lifted in the framework of an overall compromise.
CONCLUSION
Against this background the Permanent Representatives Committee is invited to:
- agree on the general approach with regard to the proposed Directive, as set out in doc 11359/11 EF 87 ECOFIN 360 CODEC 1002;
- invite the Presidency to conduct negotiations with the European Parliament on the basis of this general approach, with a view to reaching an agreement at first reading.
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