Scope and Execution

DNB has specified further rules on the scope and execution of the deposit guarantee scheme (DGS). Doing so, DNB provides more insight for depositors on how a number of potential situations are dealt with during a DGS payout situation.

Please find below an overview of current regulation and publications.

Policy Rule on the Scope and Execution of the Deposit Guarantee Scheme

The Policy Rule on the Scope and Execution of the Deposit Guarantee Scheme further specifies policy rules concerning elements where Dutch legislation allows DNB discretionary power, or where further explanation is necessary. In future DNB may supplement the Policy rule with provisions on other DGS-related topics as required.

First round of amendments to the DGS legislation (February 2019)

Staatscourant

In the beginning of February 2019 DNB published the first amendments to the DGS legislation in the Government Gazette (The publication is in Dutch only. However, the policy rule has been translated in the consolidated document below). The major amendments of thePolicy Rule on the Scope and Execution of the DGS relate to dealing with temporary high balances, structured deposits and customers who hold deposits in different countries. The amendments were publicly consulted late 2018.

You will find a further explanation and feedback on the responses on the consultation in the document  ‘First round of amendments DGS Policy Rules – Final adoption – February 2019’.

DGS Policy Rules (July 2017)

The Policy Rule on the Scope and Execution of the Deposit Guarantee Scheme of July 2017 specifies rules concerning escrow accounts. In this way the policy rule establishes the provisions needed for creating the Single Customer View, especially with regards to escrow accounts.

The policy rule also specifies the ranking of eligible deposits. Both in resolution and a DGS payout situation, this ranking offers a framework for the order in which accounts are set off when determining the guaranteed amount per depositor. Clickhere for the 2017 Government Gazette publication.

DNB has drawn up an interactively consolidated publication with all DGS regulations set by DNB concerning Single Customer View (Policy Rules of the DGS – July 2017). This also includes the Policy Rule on the Scope and Execution of the DGS. DNB has publicly consulted the Policy Rule in March-April 2017.