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DGS obligations in the event of bank mutations

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When a bank merges with another bank, or, for example, executes a takeover or conversion, this may have consequences for the protection of depositors under the Deposit Guarantee Scheme (DGS) at the banks involved. The legislation lays down rights for depositors and obligations for banks in this regard. On this page you can find information for banks in the case of a merger, conversion of subsidiaries into branches or similar operations.

Banks can attract or transfer (covered) deposits. Mergers and acquisitions can also lead to changes in a bank's deposit book. To this end, obligations for banks and rights for depositors are laid down in the European DGS Directive, the Dutch Financial Supervision Act (Wet op het financieel toezicht – Wft) and the Dutch Decree on special prudential measures, investor compensation and deposit guarantees under the Wft (Besluit bijzondere prudentiële maatregelen, beleggerscompensatie en depositogarantie Wft – Bbpm).

Rights and obligations

Banks are obliged to inform the DGS and their customers about a merger or other major operation in a timely manner. At the same time, depositors have the right to withdraw or transfer their funds above the covered amount of EUR 100,000 to another bank free of charge and with retention of all benefits, even if that money is, for example, 'stuck' as in the case of a time deposit.

Customised approach

Each situation is unique and presents different challenges. To ensure that a bank meets all its legal obligations in such operations, a customised approach is often required. When undertaking such operations banks are therefore strongly advised to contact the DGS contact persons at DNB in good time. Consumers that have questions about these situations can contact 0800 020 1068 or info@dnb.nl.