(a)

paragraph 2 is replaced by the following: ‘2. Member States shall ensure that, by 3 July 2024, the available financial means of a DGS shall at least reach a target level of 0,8 % of the amount of the covered deposits of its members. For the calculation of the target level referred to in the first subparagraph, the reference period shall be between 31 December preceding the date by which the target level is to be reached and that date. When determining whether the DGS has reached the target level referred to in the first subparagraph, Member States shall take into account only the available financial means directly contributed by, or recovered from, members to the DGS, net of administrative fees and charges. Those available financial means shall include investment income derived from funds contributed by members to the DGS and funds recovered by the DGS against its claims deriving from its interventions, but shall exclude repayments not claimed by eligible depositors during payout procedures and any debt liabilities due by the DGS. An outstanding loan claim to another DGS under Article 12 or an outstanding loan claim or means otherwise made available under Article 12a shall be included and counted exclusively towards that target level. Where the financing capacity falls short of the target level, the payment of contributions shall resume at least until the target level is reached again. Where the target level referred to in the first subparagraph of this paragraph has been reached for the first time and the available financial means, following either an increase of the amount of covered deposits or a disbursement of DGS funds in accordance with Article 8 or Article 11(2), (3) or (5), have been reduced to less than two-thirds of the target level, a DGS shall set the regular contribution at a level allowing for the target level to be reached within a period that shall not exceed six years. Where the target level referred to in the first subparagraph has been reached for the first time and the available financial means have been reduced by less than one third of the target level, a DGS shall set the regular contribution at a level allowing for the target level to be reached within two years. A DGS may extend that period by one further year to ensure that the amount to be collected reaches an amount that is proportionate to the costs of collecting the contributions. The regular contribution shall take due account of the phase of the business cycle, and the impact procyclical contributions may have when setting annual contributions in the context of this Article. Member States may extend the initial period referred to in the first subparagraph for a maximum of four years if the DGS has made cumulative disbursements in excess of 0,8 % of covered deposits.’ ;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-08 · Text as adopted (Official Journal); later amendments are not incorporated in this text.