Partial Compliance with EBA Guidelines on the Delimitation and Declaration of Available Financial Means of Deposit Guarantee Schemes (EBA/GL/2021/17) (Repealed)

OPINION

Partial Compliance with the European Banking Authority Guidelines on the Delimitation and Declaration of Available Financial Means of Deposit Guarantee Schemes (EBA/GL/2021/17)

The Prudential Control and Resolution Authority (ACPR) has declared itself partially compliant with the revised guidelines of the European Banking Authority (EBA/GL/2021/10) on the delimitation and declaration of available financial means of deposit guarantee schemes (DGS) under Directive 2014/49/EU.

These guidelines define the resources of deposit guarantee schemes (DGS) to be taken into account to verify that the target is reached. They specify in particular that only funds arising directly or indirectly from the contributions of DGS members are considered as available financial means retained for achieving the target level.

Funds borrowed by a DGS are thus not considered as available financial means retained for achieving the target level. The ACPR has declared itself non-compliant with paragraph 21 of these guidelines, relating to the conditions for lifting contributions in the event of loan repayment. Point (b) of this paragraph provides that loan repayment occurring within six years after a DGS intervention should not result in the available financial means for achieving the target being less than two-thirds of the target level. Compliance with this point would add conditions on the lifting of contributions and the achievement of the target that are contrary to French law, which provides, in such cases, the possibility of lifting contributions only so that they are sufficient "to raise, within a period of six years, the available financial means [...] when the following conditions are met: 1° The target level mentioned above has already been reached; 2° The available financial means under this mechanism have fallen below two-thirds of this target following the use of funds" (Article 1 of the Order of October 27, 2015 taken for the application of point 4° of Article L. 312-16 of the Monetary and Financial Code).

The ACPR has also declared itself non-compliant with paragraph 24 of these guidelines, relating to the treatment of loans between DGS, which provides that "funds lent by one DGS to another DGS in accordance with Article 12 of the DGSD should not be taken into account for available financial means, therefore neither for the available financial means retained for achieving the target level nor for the other available financial means of the lending DGS". Thus, in the event of a loan granted to another DGS, compliance with this paragraph would result in a requirement to raise new contributions contrary to current French law, which explicitly excludes borrowed sums from the resources of the Deposit Guarantee and Resolution Fund (FGDR) that could allow the achievement of the target, but does not provide for the deduction of lent sums (Article 17-2 of the Order of October 27, 2015 relating to the financial resources of the FGDR).

These guidelines, with the exception of paragraphs 21 and 24 (to which the ACPR has declared itself non-compliant), are applicable to the FGDR, which must do everything in its power to respect them, in accordance with the provisions of Articles 16 and 26 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).

Download the opinion and the associated EBA guidelines

Partial Compliance with the European Banking Authority Guidelines... (PDF - 462.92 Ko)

Find the associated EBA guidelines

Guidelines on the delimitation and declaration of available financial means (AFM) of deposit guarantee schemes (DGS)

New opinion in force issued by the ACPR on the guidelines (EBA/GL/2021/17)

Partial Compliance with the European Banking Authority Guidelines... (PDF - 153.49 Ko)

Updated on May 14, 2025