art_3__para_1__text_2

A Member State may, however, exempt a credit institution from the obligation to belong to a deposit-guarantee scheme where that credit institution belongs to a system which protects the credit institution itself and in particular ensures its liquidity and solvency, thus guaranteeing protection for depositors at least equivalent to that provided by a deposit-guarantee scheme, and which, in the opinion of the competent authorities, fulfils the following conditions: the system must be in existence and have been officially recognized when this Directive is adopted, the system must be designed to prevent deposits with credit institutions belonging to the system from becoming unavailable and have the resources necessary for that purpose at its disposal, the system must not consist of a guarantee granted to a credit institution by a Member State itself or by any of its local or regional authorities, the system must ensure that depositors are informed in accordance with the terms and conditions laid down in Article 9.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-11 · Text as adopted (Official Journal); later amendments are not incorporated in this text.