RegCORE Client Alert | Banking Union

On 4 March 2024, the European Parliament's Committee on Economic and Monetary Affairs (ECON) reintroduced the "Esther de Lange Report" from 2016. Dutch MEP Esther de Lange was the then rapporteur in the European Parliament (the Parliament) for the European Commission's (the Commission) proposal to establish a euro area-wide integrated deposit insurance scheme, the European Deposit Insurance Scheme (EDIS) (the Proposal).

Following up on the Five Presidents' Report on 'completing Europe's Economic and Monetary Union', the Commission first tabled its EDIS Proposal in November 2015 with a view to creating the so-called third pillar of the Banking Union. The debate on EDIS is closely linked to the existing and reformed Deposit Guarantee Scheme Directive (DGSD) and the Bank Recovery and Resolution Directive (BRRD), further prudential rules and secondary legislation adopted thereunder, together comprises the crisis management and deposit insurance (CMDI) framework as a