(3)

Article 4 is amended as follows: paragraph 4 is replaced by the following: ‘4. Member States shall ensure that where a credit institution does not comply with its obligations as a member of a DGS that DGS immediately notifies the designated authority and the competent authority of that credit institution thereof. Member States shall ensure that that competent authority, in cooperation with that designated authority and, where relevant, with that DGS, promptly takes all appropriate measures, including, where necessary, the imposition of penalties, to ensure that the credit institution concerned complies with its obligations as a member of a DGS. For the purposes of the measures referred to in the first subparagraph, Member States shall, where relevant, ensure that competent authorities are able to use the supervisory powers laid down in Title VII, Chapter 1, Section IV, of Directive 2013/36/EU. Member States shall lay down rules on penalties applicable in the event of infringements by credit institutions of the obligations of a DGS member. Such penalties shall be effective, proportionate and dissuasive.’ ; the following paragraph is inserted: ‘4a. Member States shall ensure that where a credit institution fails to pay the contributions referred to in Article 10 and Article 11(4) within the timeframe specified by the DGS, that DGS or, where relevant, the designated authority concerned shall, for the period of the delay, charge the statutory interest rate on the amount due.’ ; paragraphs 5 and 6 are replaced by the following: ‘5. Member States shall ensure that the DGS informs the designated authority and the competent authority concerned where the measures referred to in paragraphs 4 and 4a fail to restore compliance by the credit institution with its obligations as a DGS member. Member States shall ensure that the DGS or, where appropriate, the designated authority concerned assesses whether that credit institution still fulfils the conditions for continued membership of that DGS and informs the competent authority concerned of the outcome of that assessment. 6. Member States shall ensure that where a competent authority decides to withdraw an authorisation in accordance with Article 18 of Directive 2013/36/EU, the credit institution concerned ceases to be a member of its DGS. Member States shall ensure that deposits held at that credit institution on the date on which it ceased to be a member of the DGS following the withdrawal of authorisation continue to be covered by that DGS.’ ; in paragraph 7, the following subparagraph is added: ‘Where the operation of the DGS is administered by a private entity, the designated authorities shall have the necessary enforcement powers to remedy infringements of this Directive by that DGS, including powers to impose penalties or other administrative measures.’; paragraph 8 is deleted; the following paragraph is added: ‘13. By 11 May 2029, EBA shall develop guidelines on the scope, contents and procedures of the stress tests referred to in paragraph 10.’ ;

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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.