Recital 4

(4)A failure by credit institutions to comply with their obligations to pay contributions to DGSs or to provide information to depositors and DGSs could undermine the objective of depositor protection. DGSs or, where relevant, designated authorities should charge the statutory interest rate on the amount of contributions due for late payment of contributions. It is important to improve coordination between DGSs and designated and competent authorities in taking enforcement action against a credit institution that does not comply with its obligations. It is necessary to ensure that DGSs or, where relevant, designated authorities inform the competent authorities in time about any infringement of the obligations of credit institutions under deposit protection rules, so that the competent authorities can use their supervisory powers under Directive 2013/36/EU of the European Parliament and of the Council ⁴ . In addition, in order to ensure that credit institutions comply with the rules laid down in this Directive, Member States should provide for appropriate penalties in cases of infringement of those rules.