AI Summary of Article 1 Subject matter and scope
This Directive lays down rules and procedures relating to the establishment and functioning of deposit guarantee schemes (DGSs), the coverage and repayment of deposits, and the safeguards for the use of DGS funds for measures other than the repayment of deposits to ensure the access of depositors to their deposits.
The Directive applies to: (a) statutory DGSs; (b) contractual DGSs officially recognised as DGSs in accordance with Article 4(2); (c) institutional protection schemes officially recognised as DGSs in accordance with Article 4(2); and (d) credit institutions, and branches of credit institutions with head offices outside the Union, that are affiliated to those schemes. Without prejudice to Article 16(5) and (7), contractual schemes not officially recognised (including schemes offering additional protection above the coverage in Article 6(1)) and IPS not officially recognised are not subject to the Directive; Member States shall ensure those schemes have adequate financial means or relevant financing arrangements to fulfil their obligations.
Article 1 Subject matter and scope
1. This Directive lays down rules and procedures relating to the establishment and the functioning of deposit guarantee schemes (DGSs), the coverage and repayment of deposits, and the safeguards for the use of DGS funds for measures other than the repayment of deposits to ensure the access of depositors to their deposits.
2. This Directive shall apply to:
(b) contractual DGSs that are officially recognised as DGSs in accordance with Article 4(2);
(c) institutional protection schemes that are officially recognised as DGSs in accordance with Article 4(2);
(d) credit institutions, and branches of credit institutions that have their head offices outside the Union, that are affiliated to the schemes referred to in point (a), (b) or (c) of this paragraph.
3. Without prejudice to Article 16(5) and (7), the following schemes shall not be subject to this Directive: