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While European banks support the completion of the Banking Union with the creation of a single European Deposit Insurance Scheme (EDIS) as its third and final pillar, the process and pace for the introduction of this scheme is surprising given the EU’s Better Regulation initiative. The EDIS proposal requires careful examination.
The EBF wants to ensure that the European deposit insurance scheme will not lead to increases in overall contributions that banks make to deposit guarantee systems. The EBF also believes that the scheme should be clearly integrated in the Banking Union framework such that the scope of banks mirrors closely the scope of the single supervisory and resolution mechanisms.
The European Commission first needs to make sure that EU...
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