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HomeRegaining citizens’ trust, safeguarding banks’ stability
Towards a European deposit insurance scheme. Issue 01 / 2015, 09 November
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As stated in the Five Presidents’ Report, completing the Banking Union is a fundamental step towards making the Economic and Monetary Union (EMU) more sustainable and enabling it to deliver a better life for EU citizens. The overarching goal of the Banking Union is to break the link between a Member State’s banks and its taxpayers, preventing a situation in which a failing banking sector endangers the sustainability of public debt or where the unsustainability of public debt endangers an otherwise solvent banking sector. The Banking Union was devised to tackle the former aspect of this link. The current Banking Union setup, however, retains a substantial weakness: making sure citizens’ deposits in banks are safe was a key element of crisis management - and overall a successful one - but as long as these Deposit Guarantee Schemes (DGSs) remain national, Member States’ budgets continue to be exposed to risks in their banking sectors. A common deposit insurance scheme, on the other hand, would increase resilience against future crises. Consequently, the Five Presidents’ Report proposed setting up a European Deposit Insurance Scheme (EDIS) as the third pillar of a fully-fledged Banking Union, alongside bank supervision and resolution.
- Published:
- Corporate author(s): European Political Strategy Centre (European Commission)
- Themes: Economic policy — Economic and monetary union , Banks, insurance
- Subject: bank , bank deposit , Economic and Monetary Union , EU Member State , insurance , public debt , public opinion , stability programme
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| ISSN 2467-4230 | ISBN 978-92-79-63329-4 | DOI 10.2872/512000 | Catalogue number ES-AB-16-001-EN-N |
- Released on EU publications website:
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