AI Summary of Article 6 Coverage level
Member States shall ensure aggregate deposits per depositor are covered to EUR 100 000 where deposits are unavailable. Additionally, certain deposits are protected to at least EUR 500 000 for six months after crediting or when legally transferable: (a) deposits from or intended for private residential real‑estate transactions (short‑term defined in national law; point (a) capped at EUR 2 500 000), (b) deposits serving social purposes linked to life events, and (c) deposits based on insurance benefits or compensation. The EUR 500 000 protection supplements the EUR 100 000.
Repayments shall be made in one of: the DGS Member State currency; the depositor's Member State currency; the euro; the account currency; or the account Member State currency; depositors must be informed. If currencies differ, the exchange rate is that on the date of the relevant administrative determination or judicial ruling. Conversions of EUR 100 000 shall initially use the 3 July 2015 rate; rounding up to EUR 5 000 is permitted; converted levels must be adjusted every five years (earlier after consultation). The Commission shall review amounts at least every five years, may propose adjustments, and may adopt delegated acts under Article 18 to align amounts with Union inflation (HICP).
Article 6 Coverage level
1. Member States shall ensure that the coverage level for the aggregate deposits of each depositor is EUR 100 000 in the event of deposits being unavailable.
2. In addition to paragraph 1, Member States shall ensure that the following deposits are protected to an amount of not less than EUR 500 000 for six months after that amount has been credited or from the moment when such deposits become legally transferable:
(a) deposits resulting from real estate transactions relating to private residential properties;
deposits resulting from real estate transactions by a natural person relating to private residential properties and deposits intended for such transactions, provided that those transactions have been concluded or are intended to be concluded in the short term, and provided that that natural person can provide documents proving that before the date on which a relevant administrative authority makes a determination as referred to in Article 2(1), point (8)(a), or on which a judicial authority makes a ruling as referred to in Article 2(1), point (8)(b), such transaction had been concluded or was intended to be concluded in the short term;