Announcements

Enactment of law 4346/2015

On November 20, 2015 lav 4346/2015 (Govenrment gazette A/152) "Emergency provisions for the application of the Agreement on fiscal targets and structural reforms" was enacted, by which the legal framework for the provision of a resolution loan from the Hellenic Financial Stability Fund (HFSF) to TEKE was amended and further temporary borrowing of the Resolution Scheme from the Deposit Cover Scheme for financing resolution measures was provided for.

Enactment of law 4340/2015

On November 1, 2015, law 4340/2015 (Government Gazette 134/A) was enacted "On credit institutions recapitalization framework and other provisions", by which the Settlement Account was abolished and the granting of a Resolution Loan from the Hellenic Financial Stability Fund to TEKE for financing resolution measures was provided for.  

Guidelines on methods for calculating contributions to Deposit Guarantee Schemes

On 22/9/15 European Banking Authority (EBA) published the Guidelines on methods for calculating contributions to Deposit Guarantee Schemes.

Bilateral Agreement between the HDIGF and the Entschädigungseinrichtung Deutscher Banken GmbH – EdB

On 11 September 2015, two Bilateral Agreements were signed between the Hellenic Deposit and Investment Guarantee Fund (HDIGF) and the Compensation Scheme of German Banks (Entschädigungseinrichtung Deutscher Banken GmbH - EdB).

The Agreements are based on provisions of the Directive 2014/49/EC on Deposit Guarantee Schemes (DGSs), stipulating that in case of credit institutions operating on a cross-border basis via branches, the host country DGS represents the home country DGS.

In the two Agreements signed, one provides for the HDIGF acting on behalf of the EdB for depositors at branches set up by German banks in Greece and respectively the other agreement provides for the EdB acting on behalf of the HDIGF for depositors at branches set up by Greek banks in Germany.

The Agreements focus on communication issues with depositors residing in the host country and on reimbursing procedures and they are the first to be concluded under the new European legal framework, while  similar agreements expected to be drafted among EU DGSs.

Guidelines on payment commitments on Deposit Guarantee Schemes.

On 11/9/15 European Banking Authority (EBA) published the Guidelines on payment commitments under Directive 2014/49/EU on Deposit Guarantee Schemes.

EFDI EU Committee hosting in Athens

On Monday 8th and Tuesday 9th of June, 2015, the HDIGF hosted successfully the EFDI EU Committee in Athens. Issues discussed evolved around the European regulatory framework on credit institutions recovery and resolution, the member states’ progress on the transposition of the Directive 2014/49/EU on Deposit Guarantee Schemes and the functioning of deposit guarantee schemes in compensating depositors in branches in another EU member state.


Mr. Christos V. Gortsos, Deputy-Chairman of the HDIGF Board of Directors, presented the Single Resolution Mechanism (SRM) framework (Presentation, Article)

 

Further information on the EFDI are available at www.efdi.eu.