Part 1 – General considerations

Directive 2014/49/EU aims to ‘harmonise the methods of financing of DGSs’² , via a mix of ex-ante and ex-post contributions.

² Recital 27 of Directive 2014/49/EU.

Pursuant to Article 10(3) of Directive 2014/49/EU, the available financial means to be taken into account in order to reach the target level of the DGS may include payment commitments, provided the total share of payment commitments does not exceed 30% of the total amount of available financial means raised in accordance with that Article.

This provision implies an obligation for Member States to provide the designated authorities or the DGSs with the power to accept payment commitments up to 30% of the available financial means. However, Article 10(3) of Directive 2014/49/EU should not be read as an automatic right for credit institutions, enforceable against the DGS, to provide their contributions in the form of payment commitments. The DGS should implement this mechanism on the basis of non-discriminatory criteria. In particular, DGSs should not accept more than 30% of a given member’s ex-ante contributions in the form of payment commitments.

Designated authorities should verify that Payment Commitment Arrangements and Financial Collateral Arrangements entered into by the DGS and the credit institution are consistent with these guidelines.