The Deposit Guarantee Scheme Directive 2014/49 also referred to as DGS Directive or DGSD (2014/49) is a Directive in EU law that requires bank customers' deposits are guaranteed by member states up to â¬100,000.
Article 1 says the subject matter is rules about "deposit guarantee schemes". Article 3 requires member states designate relevant authorities. Article 6 requires that the "coverage level" is â¬100,000 "in the event of deposits being unavailable". It also requires greater coverage for 3 months to 12 months for residential transactions, social purposes or insurance and compensation money.
This directive updates the previous directive 94/19/EC of 30 May 1994 on deposit-guarantee schemes.
Article 8 requires repayment within a maximum of 10 working days, and 7 working days from 2024.