On March 3, the Council of the EU published a press release announcing that it has adopted at first reading the proposed Directive recasting the Deposit Guarantee Schemes Directive (94/19/EC).

On February 25, the Council published a revised text of the proposed Directive.

The Council’s adoption of the Directive will enable the European Parliament, with which agreement on the Directive was reached in December 2013, to adopt it without amendment at second reading at its plenary session between April 14 – 17, 2014.  Member states will have one year after the Directive’s entry into force to transpose it into national law. Press Release. Revised Text.