Regulations on the deposit guarantee: Amendment Decree on Special Prudential Measures, Investor Compensation and Deposit Guarantees under the Wft

The most significant changes for the sector are:

• The Deposit Guarantee Fund (DGF) reached its target size in July 2024. The Amendment Decree clarifies the basis for levying contributions from this point onwards. Contributions are levied quarterly to maintain the DGF at the target size, although only among banks whose deposit base has grown. An exception to this is if a DGS payout has occurred, in which case all banks must contribute to rebuilding the fund, which can be spread over several quarters. Banks can find more information in the updated fact sheet on contributions to the DGF at Deposit Guarantee Fund levies (dnb.nl).

• Transfers of deposits: from September, DNB has the option to transfer all or part of the accumulated individual DGF balance of a bank whose deposits are transferred to another bank within the Netherlands. This means that no new contributions need to be paid on the transferred deposits. Banks can find more information in the updated fact sheet on contributions. DNB will also soon publish a fact sheet on DGS obligations for banks in cases of mergers, acquisitions, conversions and similar operations.

• Risk methodology: from September, DNB may change the risk methodology used in calculating contributions to the DGF through the Regulation on risk indicators for contributions to the deposit guarantee scheme under the Financial Supervision Act (Wft) 2024. Previously, the finance ministry handled this through a ministerial regulation. Banks can find more information in the December 2022 DGS risk methodology fact sheet at Deposit Guarantee Fund levies.

• Non-natural persons without legal personality: the Amendment Decree clarifies that non-natural persons without legal personality, such as general or commercial partnerships, are considered a single depositor. This means that the non-natural person is an entity whose deposits are protected up to €100,000 per bank. This protection is in addition to the protection of the deposits of natural persons who are part of the partnership. This part of the Amendment Decree will take effect later than 1 September 2024; the precise date will be set by Royal Decree. This change affects the Single Customer View that sector institutions must submit to DNB. DNB will include this aspect in the round of amendments to the DGS regulations for banks, for which the consultation period has recently ended.

The full text of the Amendment Decree can be found here (in Dutch). A post on the most prominent changes for depositors can be found here (in Dutch).