Financing and target level of deposit guarantee schemes

(1) Deposit guarantee schemes must have available financial means proportionate to their existing and potential liabilities (available financial means). They must establish appropriate systems for ascertaining their potential liabilities.
(2) Deposit guarantee schemes must ensure that their available financial means reach, by the end of 3 July 2024, at least a target level of 0.8 per cent of the covered deposits under section 8(1) of the CRR credit institutions belonging to them. Where a deposit guarantee scheme has, by the end of 3 July 2024, used more than 0.8 per cent of the covered deposits under section 8(1) of the CRR credit institutions belonging to it for pay-outs, the accumulation period for the deposit guarantee scheme concerned is extended until the end of 3 July 2028.
(3) Where the available financial means fall short of the target level, deposit guarantee schemes must ensure that contributions continue to be raised until the target level is reached again. Where the available financial means fall, after the target level is first reached, to less than two-thirds of the target level, contributions are to be set at a level enabling the target level to be reached again within six years.
(4) To ascertain the required target level under subsection (2) and under Commission Delegated Regulation (EU) 2015/63 of 21 October 2014 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to ex ante contributions to resolution financing arrangements (OJ L 11, 17.1.2015, p. 44), CRR credit institutions must report to the deposit guarantee scheme to which they belong, by 15 January of each year, the amount of the covered deposits under section 8(1) held by them as at 31 March, 30 June, 30 September and 31 December of the previous year. Deposit guarantee schemes must submit the calculation, on a quarterly basis, of the average amount of the covered deposits of all CRR credit institutions attached to them, to the resolution authority by 31 January of each year. Deposit guarantee schemes must pass on the aggregated reports of the CRR credit institutions, and the amount of available financial means, to BaFin and the Deutsche Bundesbank by 31 January of each year.
(5) BaFin must notify the European Banking Authority, by 31 March of each year, of the amount of covered deposits in Germany under section 8(1) and the amount of the available financial means of German deposit guarantee schemes as at 31 December of the previous year.