European Union:
Deposit Guarantee Scheme Co-Operation Agreement Published By EFDI
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On September 15, 2016, the European Forum of Deposit Insurers
(EFDI) published its model deposit guarantee scheme co-operation
agreement and supporting rulebook.
The recast Deposit Guarantee Scheme Directive (2014/49/EU)
requires EU deposit guarantee schemes (DGS) to repay depositors in
a cross-border branch through the DGS in the home state
country.
The EFDI model co-option agreement covers the cross-border
payment framework, mutual lending and the transfer of contributions
between DGS. It also contains methodology implementing technical
and functional co-operation for cross-border payments together with
IT data requirements, funding and crisis communications.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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