When a bank collapses, the customers' deposits are refunded by all the EU deposit guarantee schemes up to at least € 100,000. Deposit guarantee schemes thus aim to prevent panic withdrawals which jeopardise the stability of the whole financial system.
In November 2015, the EU Commission proposed a European deposit guarantee scheme (EDIS). It will replace national deposit guarantee schemes by 2024. At the start of November 2016, the Rapporteur in the European Parliament, Esther de Lange, submitted her draft report. cep sets out the key components of the draft report and assesses them.