Deposit Guarantee Schemes

Publisert under: Regjeringen Stoltenberg II

Utgiver: Finansdepartementet

Brev til den tyske finansministeren Dr. Wolfgang Schäuble av 31. mai 2011 om innskuddsgarantidirektivet.

Thank you for your letter 14 March 2011 regarding the ongoing work with the Commission proposal for a new Deposit Guarantee Schemes directive.

As you will recall, the need for adaptations to the present EU rules concerning bank deposit guarantee schemes, in order for us to maintain the coverage level for the Norwegian deposit guarantee scheme, is an important issue for Norway.

I have just been informed that the ECON Committee in the European Parliament
24 May has adopted an amendment to the Commission proposal for a new Deposit Guarantee Directive which will meet our needs in this respect. Article 5, paragraph 3a of the ECON Committee proposal has the following wording:

“With regard to deposits with credit institutions or branches of foreign credit institutions in the Member States which had already been made before 31 December 2010 and with regard to deposits of depositors whose principal place of residence is in a Member State which, before 1 January 2008, had a statutory deposit guarantee scheme with a fixed coverage level between EUR 100 000 and EUR 300 000 for deposits, the States concerned may decide, by way of derogation from paragraph 1, that the fixed coverage level which has been in force hitherto shall remain in force unaltered for depositors whose principal place of residence is in this Member State. In that case, the target cover and the risk-dependent contributions of the credit institutions shall be adjusted accordingly.”

I understand that this amendment will now be discussed in the Ecofin Council. I hope you may support the mentioned amendment from the Parliament’s ECON Committee in the work in the Council. Please also find enclosed a non-paper which outlines the Norwegian position and arguments with regard to maintaining the coverage level for the Norwegian deposit guarantee.


Yours sincerely,


Sigbjørn Johnsen


Enclosure