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Start Consultation Third Round of Amendments DGS Policy Rules

News item Dutch Deposit Guarantee

Published: 12 September 2022


On September 5, DNB started the public consultation on the third round of amendments to the Deposit Guarantee Scheme (DGS) Policy Rules for banks. This consultation is part of the periodical process in which the Single Customer View (SCV) Policy Rule and the Policy Rule on the Scope and Execution of the DGS are improved and supplemented. The proposed changes are the result of questions from banks and DNB's wish to further clarify a number of situations.

Proposed amendments

The proposed amendments in the Single Customer View Policy Rule concern (i) the clarification of the way in which banks must protect foreign personal data in reports, (ii) the deposit base that DNB uses under various circumstances to determine the levies that banks are required to pay for the DGS, (iii) the removal of the marking relating to convictions for money laundering, (iv) the guarantee that banks will report dormant accounts in the SCV-files and mark these accounts accordingly. The proposed amendments in the Policy Rule Scope and Execution of the DGS (i) add an identification option for depositors of escrow accounts, (ii) elaborate on the treatment of deposits from deceased depositors, and (iii) further specify the definition of a “working day”.

Publication and possibility to respond

You will find the consultation document on the page ‘Single Customer View’. With the publication of the consultation document, DNB gives interested parties the opportunity to respond to the proposed changes. A substantiated response to the proposed amendments and in particular to the consultation questions referred to in the consultation document can be submitted until 14 October by e-mail to consultation-dgs@dnb.nl with the subject 'Reaction to consultation on the third round of amendments to the DGS Policy Rules'. Subsequently, the input will be included where appropriate in the amendments. DNB aims to publish the final amendments in November 2022, after which the changes that lead to adjustments in the SCV-system of banks must be implemented by April 1, 2023.

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