unavailable deposit
Defined in Article 2, Deposit Guarantee Schemes Directive (DGSD)
Definitions over time (1)
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02/07/2014 – today applies on 12/11/2026 Article 2, Deposit Guarantee Schemes Directive (DGSD) Scope: Whole act
For the purposes of this Directive the following definitions apply:
‘unavailable deposit’ means a deposit that is due and payable but that has not been paid by a credit institution under the legal or contractual conditions applicable thereto, where either: the relevant administrative authorities have determined that in their view the credit institution concerned appears to be unable for the time being, for reasons which are directly related to its financial circumstances, to repay the deposit and the institution has no current prospect of being able to do so; or a judicial authority has made a ruling for reasons which are directly related to the credit institution’s financial circumstances and which has the effect of suspending the rights of depositors to make claims against it;