Jurisdiction(s):
European Union

Deposit Guarantee Schemes Directive (2014/49/EU): coverage limits, payouts, funding, stress testing, sanctions and claims; EBA/CMDI updates; and UK FSCS/PRA implementation

Published by a LexisNexis EU Law expert

Practice notes

This Practice Note outlines the principal elements of the Deposit Guarantee Schemes Directive 2014/49/EU (DGSD), which obliges Member States to create a deposit guarantee scheme (DGS) to safeguard depositors and bolster financial stability by mitigating the threat of a run on the bank. The recast DGSD superseded and repealed Directive (EC) 94/19/EC (the original DGSD) for clarity after substantial amendments over the years. As the UK was an EU Member State when the DGSD began to apply, the recast EU DGSD was implemented in the UK; accordingly, this Practice Note addresses both the EU requirements and the UK’s implementation.

Background and introduction to the DGSD

The DGSD is one of two existing EU guarantee scheme directives. The other, the Investor Compensation Schemes Directive 97/9/EC (ICSD), is discussed in Practice Note: Investor Compensation Schemes Directive. The original DGSD, introduced in 1994, required only minimum harmonisation between domestic DGSs within the EU. That framework proved disruptive for financial stability and the internal market, particularly during the 2007–2009 financial crisis. A 2009 amending directive (Directive (EC) 2009/14) required EU countries to increase their protection...

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Web page updated on 21/05/2026

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