Question
Should the “deposits fulfilling a social purpose defined by national law, for which a third party has given a guarantee” referred to in Article 7(8) of Directive 2014/49/EU (DGSD) be considered as covered deposits or as a secured liability referred to in Article 43(2)(b) of Directive 2014/59/EU (BRRD) ? If not, what may be their ranking in insolvency proceedings referred to in Article 108 of BRRD?
Background on the question
We seek clarifications on the interactions between the DGS and the BRRD. We wish to ascertain what form the “deposits” referred to the in Article 7(8) of the DGSD take in accordance with the BRRD.
Answer
Please note that as part of adjustments to the Single Rulebook Q&A process, agreed by the EBA and the European Commission, it has been decided to reject outstanding questions submitted before 1 January 2020, when the Q&A process was updated as part of the last ESAs Review. In particular, the question that you have submitted has now regrettably been rejected and will not be addressed.If you believe your question would still benefit from clarification, you are invited to resubmit your question, adapting it to reflect any legislative, regulatory or other relevant developments that may have occurred since the initial date of submission. The EBA will aim to address resubmitted questions as a matter of priority. When considering to resubmit, you are kindly requested to observe the updated admissibility criteria agreed in the context of the adjustment of the Q&A process, available in theAdditional background and guidance for asking questions. We hope for your understanding.For further information please refer to thepress releaseand the updatedQ&A page.