Recital 17

(17) Financial institutions are excluded from deposit protection. However, certain financial institutions, including e-money institutions, payment institutions and investment firms, also deposit the funds received from their clients in bank accounts, often on a temporary basis, in order to comply with safeguarding obligations in line with sectorial legislation, including Directives 2009/110/EC (7), 2014/65/EU (8) and (EU) 2015/2366 (9) of the European Parliament and of the Council. Considering the growing role of those financial institutions, DGSs should protect such deposits under the condition that those clients are identified or identifiable.

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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.