4.1 Objectives of the cooperation agreements

In accordance with Article 14(5) of Directive 2014/49/EU, the objectives of the cooperation agreements should be to:

• • facilitate an effective cooperation between the DGSs, or, where appropriate, the designated authorities; and
• • specify ex ante various aspects of depositor payouts, transfers of DGS contributions and lending between DGSs which otherwise would have to be agreed upon very quickly at a time of stress, which would divert the DGS’s attention and resources away from other difficult decisions.