Enactment of a new law on deposit guarantee schemes


Greece has recently enacted the new law on deposit guarantee schemes (Law 4370/2016). The law incorporated the Deposit Guarantee Schemes Directive  (2014/49/EU of 16 April 2014). Nicholas Moussas and Charalampos Kondis, advisors to the national deposit guarantee scheme (TEKE) have had a significant role in the legislative committee particularly appointed for the enactment of the DGSD into national law, which at the same time compiled by codification the existing investment protection scheme and the resolution powers of TEKE in a single statute. Other members of the committee included representatives of the Bank of Greece, the Ministry of Finance, the Hellenic Capital Markets Commission and the Hellenic Bank Association.