Deposit Guarantee Scheme Directive

The Deposit Guarantee Scheme Directive 2014/49 also referred to as DGS Directive or DGSD (2014/49) is a Directive in EU law that requires bank customers' deposits are guaranteed by member states up to €100,000.^[1]

Directive 2014/49

European Union directive
Title	Deposit Guarantee Directive 2014
Made by	European Parliament and Council
Current legislation

Contents

Article 1 says the subject matter is rules about "deposit guarantee schemes". Article 3 requires member states designate relevant authorities. Article 6 requires that the "coverage level" is €100,000 "in the event of deposits being unavailable". It also requires greater coverage for 3 months to 12 months for residential transactions, social purposes or insurance and compensation money.

This directive updates the previous directive 94/19/EC of 30 May 1994 on deposit-guarantee schemes.^[2]

Article 8 requires repayment within a maximum of 10 working days, and 7 working days from 2024.

See also

• EU law
• UK enterprise law

References

1. McGaughey, Ewan (2022). "10". Principles of Enterprise Law - The Economic Constitution and Human Rights. Cambridge University Press. ISBN 9781009045735.
2. "Directive 94/19/EC of the European Parliament and of the Council of 30 May 1994 on deposit-guarantee schemes". EUR-Lex. May 30, 1994.