The European Banking Authority
("EBA") has published a final report on guidelines on cooperation
agreements between deposit guarantee schemes
("DGSs"). The guidelines have been
developed to promote a common and consistent approach to
co-operation agreements between DGSs throughout the EU, as provided
under the recast Deposit Guaran-tee Schemes Directive
("DGSD").
To promote a consistent approach and facilitate entry into
co-operation agreements between DGSs across the EU, the guidelines
specify the objectives and minimum content of co-operation
agreements, and provide further guidance on the sequence and timing
of events when the local DGS performs a pay-out of depositors on
behalf of the DGS in another member states. The guidelines also
include a multilateral framework co-operation agreement to which
the DGSs or, where relevant, the designated authorities should
adhere, although they allow DGSs or designated authorities to enter
into bilateral or multilateral
