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Aki Corsoni-Husain
Aki Corsoni-Husain
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George Apostolou
George Apostolou
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Chiara Deceglie
Chiara Deceglie
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  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
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Philip Graham
Philip Graham
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Ayana Hull
Ayana Hull
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Katerina Katsiami
Katerina Katsiami
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Petros Kiteos
Petros Kiteos
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Andrew Knight
Andrew Knight
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Joshua Mangeot
Joshua Mangeot
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Mirza Manraj
Mirza Manraj
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Elina Mantrali
Mirza Manraj
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Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

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Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Consultant
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

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Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

Opinion of the EBA on depositors protection occurring from the withdrawal of the UK from the EU

On 1 March 2019, the European Banking Authority (EBA) published an opinion relating to deposit protection issues stemming from the withdrawal of the UK from the EU. In the opinion, the EBA calls on the Deposit Guarantee Schemes Designated Authorities (DGSDAs) to ensure that depositors in branches of the UK credit institutions in the EU are adequately protected by the EU deposit guarantee schemes (DGSs), in case of a withdrawal of the UK from the EU with no ratified agreement in place. 

As specified in the press release, EBA estimates that the withdrawal of the UK from the EU is not likely to have an impact on the protection of deposits in the vast majority of credit institutions operating in the EU. It may affect branches of UK credit institutions in the EU depending on the decisions taken by the UK authorities on the potential exclusion of such branches from the scope of the UK depositor protection scheme, after the UK's withdrawal from the EU.

The press release can be found here.

The opinion can be found here.