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01.11.2016

2016-11-01

Press releases

BVR statement regarding the de Lange report on the planned European Deposit Insurance Scheme (EDIS)

"In her report, which she intends to present on Thursday, Ms. de Lange rejects the very far-reaching ideas of the European Commission and the prospect of an uncontrolled transfer union among banks. The report is therefore clearly at odds with the position of the Commission. Ms. de Lange wishes to link the mutualization of deposit insurance within the banking union to various risk-mitigating conditions in the European banking systems. Mutualization should take place later than proposed by the Commission and be far less extensive. 

Unfortunately, however, the plan for banks to assume liability for the risks of third-party banks throughout the banking union has been retained, even though they will have no influence over these risks. In the BVR's view, this remains the main point of criticism regarding EDIS and the key reason for rejecting it. Liability and control must go hand in hand, particularly as some countries regularly run up bigger debts than is permitted under the Stability and Growth Pact. 

Ms. de Lange's report also proposes an initial reinsurance phase in the form of a system of funding for liquidity. However, there are no conditions of entry for this system. This is not what is required in reality. There is a lack of risk-mitigating measures and no comprehensive impact assessment. Although Ms. de Lange's report does envisage the repayment of the funding, this remains highly uncertain, especially if the banking system of a country requiring European protection funds in order to pay depositors is going through a severe crisis. In such a situation, the liability of the participating banks would, ultimately, be unlimited because any overdrawing of the new European fund would have to be paid off later on. 

Furthermore, the report does not recognize the positive role of bank protection schemes, such as that of the cooperative banks and that of the savings banks. This is regrettable given that the cooperative banks have been protecting depositors with their bank protection scheme for over 80 years and have not required any government help during that time."


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Bundesverband der deutschen Volksbanken und Raiffeisenbanken e.V. (BVR)
Bundesverband der deutschen Volksbanken und Raiffeisenbanken e.V. (BVR)
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BVR - 01.11.2016, 12:03:48

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BVR statement regarding the de Lange report on the planned European Deposit Insurance Scheme (EDIS)

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