The EBA observes that EU Deposit Guarantee Scheme funds to protect depositors against bank failures have reached €79bn

All national deposit guarantee schemes (DGS) in the European Union (EU) have reached the envisaged minimum target level. The funds have been built up over a 10-year period through contributions from credit institutions and are directly available to reimburse depositors in the case of a bank failure. The amount of deposits protected by the DGSs increased by 3.2% to €8.6 tn from 2023 to 2024. The European Banking Authority (EBA) today published end-2024 data related to two key concepts and indicators in the Deposit Guarantee Schemes Directive (DGSD), namely financial means available to, and covered deposits protected by, national deposit guarantee schemes. The EBA publishes this data for each Member State, and on a yearly basis to enhance the transparency and public accountability of DGSs across the EU to the benefit of depositors, markets, policymakers, DGSs and Members States. Following a 10-year build-up phase, the EU DGS funds have reached €79 bn of available means in aggregate. The DGSD ensures the adequate protection of depositors when banks fail, by guaranteeing that deposits up to a certain level will always be repaid even if the bank holding them fails. Covered deposits are guaranteed up to €100,000 or the equivalent in other currencies per depositor at each bank. The data as of 31 December 2024 shows that, compared to 2023, the amount of covered deposits across the EU further increased by 3.2% to €8.6 tn, after increases of 1.7% in 2023 and 2.5% in 2022. Furthermore,...