3. EBA Guidelines on payment commitments under Directive 2014/49/EU on deposit guarantee schemes

This document contains guidelines issued pursuant to Article 16 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (the EBA Regulation). In accordance with Article 16(3) of the EBA Regulation, competent authorities and financial institutions must make every effort to comply with the guidelines.

Guidelines set out the EBA’s view of appropriate supervisory practices within the European System of Financial Supervision or of how Union law should be applied in a particular area. The EBA therefore expects all designated authorities and deposit guarantee schemes (DGSs) to whom these guidelines are addressed to comply with them. Designated authorities and DGSs to whom these guidelines apply should comply by incorporating them into their practices as appropriate (e.g. by amending their legal framework or their processes).

According to Article 16(3) of the EBA Regulation, competent authorities must notify the EBA as to whether they comply or intend to comply with these guidelines, or otherwise with reasons for non-compliance, by [two months after publication of the final translation]. In the absence of any notification by this deadline, competent authorities will be considered by the EBA to be non-compliant. Notifications should be sent by submitting the form provided in Section 5 of these guidelines to compliance@eba.europa.eu with the reference ‘EBA/GL/2015/09. Notifications should be submitted by persons with appropriate authority to report compliance on behalf of their competent authorities.

Notifications will be published on the EBA website, in line with Article 16(3) of Regulation (EU) No 1093/2010.

Title I - Subject matter, scope and definitions

Title II - Guidance on Payment Commitments

Part 1 – General considerations

Part 2 – The Payment Commitment Arrangement

Part 3 – The Financial Collateral Arrangement

Part 4 – Delivery of the collateral by the collateral provider to the DGS

Part 5 – Criteria to verify that the collateral is unencumbered by any third-party rights

Part 6 – Criteria for eligibility and management of collateral

Part 7 – Haircut

Part 8 – Prudential Treatment

Title III- Final Provisions and Implementation

Date of application