deposit

Definitions over time (1)

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:

‘deposit’ means a credit balance which results from funds left in an account or from temporary situations deriving from normal banking transactions and which a credit institution is required to repay under the legal and contractual conditions applicable, including a fixed-term deposit and a savings deposit, but excluding a credit balance where: its existence can only be proven by a financial instrument as defined in Article 4(17) of Directive 2004/39/EC of the European Parliament and of the Council (^{14}), unless it is a savings product which is evidenced by a certificate of deposit made out to a named person and which exists in a Member State on 2 July 2014; its principal is not repayable at par; its principal is only repayable at par under a particular guarantee or agreement provided by the credit institution or a third party;